Land Prices In Kata Beach Area, Up Or Down?

[stevehaigh]

hi, does anyone have a good sense for what is happening with land prices in Phuket, especially in the tourist trap areas, namely Kata beach in the last 6-12months? and where its likely to go in the next few years?

hopefully i can get some truthful replies, not real estate agent hype.

thanks, steve

[LivinginKata]

We bought Kata hillside sea view Chanote land 5 years ago and as of last year the price has increased at least 120%. I still see folks looking at '2nd market' plots, and they are buying !!! Land with sea view, roads, electric, phone services are still in demand, althought the very high prices (18+ million/rai) are slowing down sales.

[steelepulse]

Probably depends on where you are.  If you are somewhere with a bunch of chickens running around with no view, then probably not too much appreciation.  However if you have prime property that is either close to the beach ( good for commercial property) or on the hill with sea view, then given the limited amount of good land available in kata, you would sure think that it really only can rise.  We have a small piece of land that we bought about 6 years ago and 8 or 9 months ago we turned down a 500% profit on it.

[stevehaigh]

Probably depends on where you are. If you are somewhere with a bunch of chickens running around with no view, then probably not too much appreciation. However if you have prime property that is either close to the beach ( good for commercial property) or on the hill with sea view, then given the limited amount of good land available in kata, you would sure think that it really only can rise. We have a small piece of land that we bought about 6 years ago and 8 or 9 months ago we turned down a 500% profit on it.

holy crap! that;s good, i fear i may have missed the boat already.

i'm looking at a small piece of land, 111 sq wa, (444m2), for 5 million. its on the hillside and has a good clear view of Kata beach. there is some building going on in front but that will not block the view. the new construction is a luxury condo unit.

what do you think? good deal or not?

steve

[jitagon]

hi, does anyone have a good sense for what is happening with land prices in Phuket, especially in the tourist trap areas, namely Kata beach in the last 6-12months? and where its likely to go in the next few years?

hopefully i can get some truthful replies, not real estate agent hype.

thanks, steve

I don't know whether you've noticed, but Phuket is an island. An island has Limited Space. Especially in 'the tourist trap areas'. Bearing in mind the world's population is not in decline, Limited Space, indeed any space, but I digress, is at a PREMIUM. And so, to answer your incredibily intelligent question, and No, I am most decidedly NOT a real estate agent, er UP!

[LivinginKata]

I think I know that piece of land and the people selling it. We bought 3 plots on the upper side of the road, and built on the middle plot. I'm still holding the 2 outside plots waiting to see what gets built in front. That price is about right for the area. No bargain, but not a rip-off. At least you know that you will have a clear sea view as the flat roof building in front is finished & occupied. But expect a large apartment building to your right side. Same people building the condo in front. Call in and have a drink with me and a chat any time.

And .. and to clarify an earlier post I stated price increase of 120%, I meant profit of 120%, price increase is 220%+ over the last 5 years.

Edited August 7, 2008 by LivinginKata

[steelepulse]

Hehe I know that piece of land on the hillside too .  It has been for sale for a while now.  I looked at it a few months ago but the wife reeled me in on spending.

[Kimera]

Hehe I know that piece of land on the hillside too .  It has been for sale for a while now.  I looked at it a few months ago but the wife reeled me in on spending.

She's not Thai then.