All is NOT Doom & Despondency !!

The Phuket & Koh Samui property markets will undoubtedly see a slowing down in 2009, however, this is not to say however that there has not been market activity.

The 2008/2009 high season has seen a good number of prospective buyers looking to buy and there has been continued interest in the resort markets.

Good value properties are available on the market, particularly resale properties, however, the market has showed no signs of major discounting. Prices have not fallen to date. Many foreign buyers who bought several years back may be prepared to sell at realistic prices as gains have already been made through time and currency. From the development perspective, there is a marked slow down on new project launches.

Despite the global financial crisis and the effects of the local political situation, hotels in Southern resort destinations have reported an average occupancy rate of 80% to 85%. Although this is a drop from an average of 90% occupancy last year, flights to Phuket remain full and tourist venues continue to be crowded.

Thailand’s resort markets, notably Phuket & Koh Samui have managed to bounce back time and time again and visitor arrivals in January bare this out. With some of the best infrastructure for boating, golfing, schooling and medical care, the two resort islands have proved to be robust, and we expect the market to recover well from the crisis.