Thai buyers drive Phuket’s luxury home sales boom

[webfact]

Thai buyers drive Phuket’s luxury home sales boom

By TTG Asia

 

Phuket’s newest luxury development is the Residence at Tri Vananda Integrative Wellness Community

 

Phuket’s sizeable mega-villa property sector has experienced an unexpected surge in multi-million-dollar sales over the past year as Thai buyers sought refuge in the global Covid-19 crisis.

 

Over five billion baht (US$167 million) in primary and secondary high-end properties transacted at the height of the pandemic.

 

According to new market research from C9 Hotelworks, transactions in 2020 in top-tier real-estate hit its highest level in five years, despite flat trading levels in the broader marketplace. Expansive tropical island mansions with four, six or more bedrooms have struck a chord with wealthy Thais who have been unable to travel overseas and are fatigued by mounting air pollution issues in the nation’s capital.

 

Full story: https://www.ttgasia.com/2021/02/11/thai-buyers-drive-phukets-luxury-home-sales-boom/

 

 

-- © Copyright TTG ASIA 2021-02-15

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

[Thailand]

Some luxury homes for sale in Chiang Mai, just so happens-------????

[SoilSpoil]

Understandably, as some parts of the island are sublime. Driving through the back alleys of Patong this weekend, showed me another picture of Phuket. That of near slum living conditions.

 

I wonder what will happen to the 2-5 million baht segment. 

[mr mr]

i very much believe this story. 

[donnacha]

I have no reason to doubt that C9 Hotelworks - a globally awarded hospitality consultancy focusing on hotel, branded residential, real estate and mixed-use developments across Asia Pacific and the Indian Ocean - are anything but truth-tellers.

I always find companies with numbers in their domain name particularly credible.

 

[Snackbar]

Propertyganda, oldest trick in the book

[KarenBravo]

Priming the pump with hot air........

[Tropicalevo]

2 hours ago, webfact said:

Tri Vananda Integrative Wellness Community

They are going to need bigger envelopes for the posties.

Who on earth picked that for an address?

[hotchilli]

3 hours ago, webfact said:

Expansive tropical island mansions with four, six or more bedrooms have struck a chord with wealthy Thais who have been unable to travel overseas and are fatigued by mounting air pollution issues in the nation’s capital.

Weekend palaces for the elite billionaires, money goes to  money.

While the rest of Phuket suffers.

[Mike Rodik]

strange title as ONLY THAIS are allowed to buy land and the house that goes with it

 

and the illegal company land owner scams off course

[wolf81]

This ad is brought to you by the Real Estate Brokers of Phuket.

 

Be quick or the property you might want to buy will be sold very very soon!!!

[khunPer]

When something happens, I often hear from real estate agents that in the high end of the private property market its "business as usual".

 

I presume you might find discounts in the lower end of condo and villa market, some articles recently mentioned a 20 percent drop in prices, and if you are looking for having you own holiday resort there should also be plenty available at the moment, I've seen a number of hotels announced "for sale", but I'm unfortunately not able to justify if prices from 650 million baht to 1.2 billion baht is a bargain price...????

[Stargeezr]

I guess the rich Thais like the gated communities just like others around the world.

   Yah.  same same different location.

Geezer

[ukrules]

9 hours ago, Thailand said:

Some luxury homes for sale in Chiang Mai, just so happens-------????

I believe it's called 'flight' - everyone is disposing of their over priced assets while they still have the chance.

 

On many facebook groups I've never seen so many plots of land, houses and condos for sale, all with massive discounts down to about 50 to 100% more than what I consider them to be worth in a non COVID market based on rental yields.

 

The shock and full fallout from the pandemic hasn't hit yet.

 

Patience pays

[Old Croc]

10 hours ago, Thailand said:

Some luxury homes for sale in Chiang Mai, just so happens-------????

 

"wealthy Thais who have been unable to travel overseas and are fatigued by mounting air pollution issues"

[AlexJohanson]

If one Is not buying now you will probably miss out on amazing property deals. Very little stock left. Now is the time.

[beechbum]

With steak knives thrown in!

[Destiny1990]

So basically people are getting smoked out in Bangkok and in Chiang Mai and therefore  fleeing to Phuket.