phuket property news
Phuket villa property market strong in mid-range.
The main villa property market in Phuket is going from strength to strength.
The market is continuing to see healthy take-up rates.
As of the end of Q3 2017, there were approximately 1,982 units being sold out of 2,542 units on the market, and such units represented a sales rate of 78% with approximately 168 villa units sold last year.
On the other hand, Phuket villas priced over B300mn per unit hold gloomy prospects. Sales transactions are quite stagnant, and only a few units were sold.
On the whole, average unit selling prices will be stable or slightly increasing. Also, there will be more resale villas entering the market.
There were approximately 2,542 villa units in Phuket. During the first nine months of 2017, about 178 units were added as new supply to the Phuket villa market.
The majority of new villas added during the first nine months of 2017 included two-bedroom villa units with a selling price of B8-12mn per unit. Most of the new units are located in the central part of the island, in the vicinity of Bang Tao, Surin and Kamala beaches.
Villa buyers are still foreigners and expatriates living in Asia such as Hong Kong, Singapore and China.
There are also some foreigners from Australia and New Zealand buying a villa in Phuket for their second home.
Buyers from China were among the top three villa buyers in Phuket after those from Hong Kong and Singapore. Non-stop flights, with only a few hours of flying time, from some cities in China to Phuket also helped boost the market.