Investors looking for Holiday homes – property market Samui
Thailand’s idyllic island of Koh Samui has been popular with tourists for a number of years, but can it take the growing interest from investors and those looking for holiday homes?
With the number of flights to Koh Samui airport increasing from 36 to 50 a day, analysts are predicting an upsurge of interest in the property market. More specifically the villa market on this paradise island. Some would say Samui has more to offer than the Mediterranean and Caribbean in terms of value for money. The property market Samui style continues then to provide opportunities for investors.
As Thailand’s second biggest island, Koh Samui is a popular tourist destination. With a growing number of 4 and 5 star branded hotels setting up shop here, Koh Samui is reaping the rewards in terms of its real estate market. Foreigners are increasingly looking to buy here ahead of other property hotspots. This growth has also been affected by new zoning regulations and new government city status meaning more funds for the local government. John Jepson of local estate agents Samui Property Locator told us; “There is a tendency for people living in the region who want to combine investment and have a place for their own leisure breaks. Most are also looking to the future as a retirement opportunity. Perhaps this is because Koh Samui offers a good mix of services, schools and a nice expat lifestyle”.
Demand for higher end residential developments is showing steady signs of growth from expats looking to cash in before the prices shoot up. One such development is V Asia Private Residences set on the Bo Phut hillside located close to some of the best beaches in Samui and all amenities, the development of 14 luxury villas is set to see its first villa completed by the middle of this year. Prices start at USD 540,000.
According to Knight Frank Thailand Research, as of the first Quarter of 2014 there were approximately 420 villa units in Koh Samui. Popular because they are key tourist destinations, the north east of the island – namely Choeng Mon, Chaweng, Plai Laem, Bo Phut and Chaweng Noi continue to thrive. Other areas gaining in popularity include Maenam in the mid-north and Lamai in southeast. These beaches tend to be more peaceful and tranquil, but are still close enough to facilities and amenities.
Samui – Oasis – a new development in Lamai from the same award winning developers of the successful “The Ridge” in Choeng Mon looks set to benefit from local government plans to develop the nearby Hua Thanon area with a promenade, restaurant and entertainment area. A private estate of nineteen (19) luxury pool villas with views over the Lamai Beach, all on generous plots. Prices start at USD 450,000.
In the higher end of the luxury market, “Anamaya” Samui boasts stunning villas on the north east coast of the island. Residents will have access to stunning views and an abundance of amenities. Villas range from 3,000 sq. ft. all the way up to over 26,000 sq. ft. and prices start from USD 940,000.
Kurt Berman, General Manager at Samujana told Palace Magazine Asia why he feels so positive about the property market for Koh Samui‑ “ A USD 17 million upgrade project will begin in mid-2016 to improve the efficiency of the airport on Samui. Consultants were brought in from Singapore’s Changi airport to identify improvements to passenger flow areas. The drainage and electricity infrastructure on the island has seen significant improvements in the recent years and the upgrade to the main ring road around the island should be completed in 2016. There are also plans being discussed to build a marina that accommodate super yachts looking to explore the Gulf of Thailand.” Samujana is a range of luxurious residences boasting up to eight bedrooms, private cinemas and breathtaking sea views. Its latest phase 2 villas, ranging from 5 to 6 bedrooms, have just been released. Prices start at USD 1.1 million.
It seems this island could be the paradise many have been searching for.
By: Joanne Pasquale (reproduced from the Palace Magazine issue 16)