Phuket Property – The Consistency is the inconsistency

Exterior_20-05-2010_037During my 6 years in Phuket and all of those years in the Property market, I have visited a huge amount of developments and an equally huge amount of re-sales and one thing that is consistent is the inconsistency.

For example, Surin Heights Condo C (https://www.zestrealestate.com/property-listing/property-details.php?id=25) is one of my favourite properties in Phuket, but has been on the market for a few years and not sold, yet has everything that buyers demand. Located in the heart of Surin, the most incredible views, foreign Freehold, ready to move in, privacy, superb finishing, 3 bedrooms, no fear of another development being built in front or to the side of you, etc etc… the list goes on.

What is really interesting is at 35 million THB for a property at 301 sqm, this works out to 116,000 THB per sqm, at full price. & Fully furnished. Compare this to some other developments that have only some or none of the qualities that this condo has on offer and you will see what I mean by inconsistency. Without naming names, I know many development around Phuket who’s starting off plan price is 115,000 THB per sqm, rising up to 180,000 THB per sqm and some exceeding 200,000 THB per sqm.

Most people who have viewed this property, always refer back to the time it has been on the market, well Phuket is a slow market but for good properties the price does not go down. Most properties in Phuket have been on the market for a few years at least; there are many reasons for this:

  1. It takes time for buyer to come to Phuket as it is a holiday destination
  2. Buying a second home requires a lot more thought than buying your first home.
  3. Buyers are keen to watch the market for a few years before making a purchase.

I could spend all day giving comparisons of one property to another, but this I my job and I am happy to provide this information to you. I understand there are many factors in buying properties, but if you are going to make a purchase, please make it the right one and not one you will regret at a later date because you did not ask.

For buyers, we are a FREE service, so where is the harm in asking. You may live to regret it.

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