Property expo expected to set record

PHUKET CITY: The Property Investment Exhibition 2007 (PIE), the annual property show staged by the Phuket Provincial Land Office and Phuket Real Estate Club, is expected to set a record 500 million baht in sales and reservations, Thanet Traiwut, Managing Director of exhibition organizer Delice Thai, told the Gazette.

Most of the properties sold or reserved were valued at five to 15 million baht each, he said, with reservations of more than 50 million baht made during the show.

The expo, held at Central Festival Phuket from January 12 to 16, attracted some 50,000 visitors, he added.

Of the 40 property developments on show, among the more popular projects were Serenity Terraces, Pearl of Naithon, Heritage Suites, Leelawadee Resort and Spa, and Baan Cocoon, K. Thanet said.

However, he said that sales of more than 500 million baht were expected within one month after the exhibition.

Last year, more than 300 million baht in property reservations were made as a result of the show.

PREC President Phummisak Hongyok, who is also Phuket’s representative at the National Legislative Assembly, told the Gazette that the expo was a good indicator for Phuket’s property industry.

“This is evidence that the recent changes in government policy will have only short-term effect, but in the long term this policy will be transparent, just be patient,” he said.

“Besides, the ones who have complained the most are the foreigners who have not done the right thing, such as those who evade paying tax,” he added.