Phuket property sector will take time to recover: experts

[webfact]

Photo: REIC

 

By The Phuket News

 

PHUKET: Phuket’s property sector is not likely to benefit until later this year from the ‘Phuket Sandbox’ July 1 reopening of the island to receiving vaccinated international arrivals, but the move will open the door to the island’s real estate market to recover in the long term, local property experts have predicted.

 

“As Phuket has its main income from tourism, it has been affected very much by the COVID-19 pandemic, which also affected the real estate market. Condominiums and houses, located even in best sale areas, have been affected at every price level,” Wichai Wiratkapan, Director of the national Real Estate Information Center (REIC), explained.

 

“If the situation improves, real estate sales may get better after the market slowdown in the first half of this year and the whole of last year,” he said.

 

Full story: https://www.thephuketnews.com/phuket-property-sector-will-take-time-to-recover-experts-80335.php

 

-- © Copyright Phuket News 2021-06-15

 

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[RichardColeman]

20 minutes ago, webfact said:

but the move will open the door to the island’s real estate market to recover in the long term, local property experts have predicted.

Baked Beans expert predicts more Baked Bean sales when supermarket opens after closure and customers allowed in. 

[sammieuk1]

More like a very gritty box right now though ????

[Patong2021]

Phuket is not the place to buy retirement home for foreigner. I think clean money foreign sources will be diverted because of lessons gained from 1 and 1/2 years of Covid experience. 2nd home or retirement home is no use if you cannot come and go freely, and if you are trapped without access to quality healthcare or critical medicine/vaccines. Add in the visa obstacles and the activity becomes an opportunity cost.  Best advantage I can give for being tenant is that I don't have to worry about upkeep, and  deterioration of tambon. Too many nice places become bad places  quickly now. Different if one is young and starting out with young family, but they are the minority of foreigners in Thailand.

[Damrongsak]

3 hours ago, RichardColeman said:

Baked Beans expert predicts more Baked Bean sales when supermarket opens after closure and customers allowed in. 

He should know, he was CEO of Braat & Braat Bean Bakery. 

[madmitch]

What an awful article. Not only stating the bleedin' obvious but quoting so many pointless numbers that I'm sure no one is remotely interested in. .

[spidermike007]

This will be worse than the 1997 crash. It will take many years for the economy to recover here, and condo prices could drop 50%. The extent to which the lame authorities have failed is mind boggling.

 

And this proves beyond a doubt, that the low deaths during the first wave was dumb luck, and had nothing to do with good policy or management. Nothing. 

[worgeordie]

Don't you just love "Experts" always stating the bleeding obvious.

regards worgeordie

[KarenBravo]

The Phuket property market was in trouble well before Covid.

Too much supply and too little demand. Can't see anything changing until they run out of land.

[khunpeer]

don't need to be an expert to figure this out...

[Benmart]

4 hours ago, worgeordie said:

Don't you just love "Experts" always stating the bleeding obvious.

regards worgeordie

An "Expert"in these parts is someone who professes to know a bit more on a subject than another person, and who is clever enough to fool others into believing it.

[WhiteBuffaloATM]

hasnt recovered since 2009. crazy over supply continues to wreck the normal market,but not the million dollar plus sea front villa market I suppose