For phuket's resilient villa and condo markets, The sun is still shining
Foreign buyers are returning to the island's property scene and the supply of new developments is surging to meet them. With average selling prices rising, the outlook for developers and investors looks bright
- Published: 23 Dec 2012 at 00.00
- Newspaper section: Spectrum
The Phuket villa and condominium market has shown solid signs of improvement over the past two years, recovering from the global economic downturn that saw foreign buyers all but disappear from the Thai market.
Both supply and demand for villas grew significantly in 2012, benefiting from the revival of the foreign buyer market. Many tourists visiting Phuket are now also looking for holiday homes.
Major buyers of Phuket properties are Singaporeans, Hong Kong residents and mainland Chinese. People buying a property in Phuket usually own property elsewhere, and in many instances they own several other properties both in the region and around the world.
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