Connect with us

Phuket

Slight drop in demand for residential properties

Legacy Phuket Gazette

Published

 on 

PHUKET CITY: Demand for residential projects in Phuket has dropped slightly due to the global economic downturn, the Government Housing Bank’s Real Estate Information Center (REIC) confirmed recently.

According to an REIC survey, residential projects ready for sale in Phuket now numbered 139, or 12,334 units, said REIC Director-General Samma Kitsin at a recent seminar at the Royal Phuket City Hotel.

Of the total, 88 are detached-house projects with a combined total of 8,561 units. Of these, 5,508 units have been sold.

Additionally, there are 51 condominium projects with a total of 3,773 units. Of these, 2,054 units have been sold.

Foreign buyers are the main customers of residential property in Phuket and many of them have delayed a decision to buy.

Mr Samma said 51% of foreign buyers of residential property on the island are investors who hope to generate rental income or sell when prices rise. 34% invest in the properties as vacation residences, and the rest buy for long-term stays.

Residential property priced between 10 million and 40 million baht per unit are most popular with buyers seeking a vacation place or an investment.

Home-buyers who intend to live in their new Phuket property prefer a price of 3 million to 5 million baht, he said.

 

Get more from The Thaiger

📱 Download our app on Android or iOS
👋 Have your say on our Thailand forums
🔔 Subscribe to our daily email newsletter
📺 Subscribe / Join YouTube for daily shows
👍 Like/Follow us on Facebook
🐦 FOLLOW us on Twitter
📷 FOLLOW us on Instagram

image

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Follow Thaiger by email:

Coronavirus (Covid-19)16 mins ago

Prayut to propose to CCSA to reopen theatres, allow filmmaking

Coronavirus (Covid-19)48 mins ago

Saturday Covid-19 UPDATE: Select provincial totals

Transport1 hour ago

Woman dresses as astronaut to show moon-like road condition

Welcome back to Thailand!

Thaiger is getting behind local businesses for the restart of tourism in Thailand - up to 50% discounts across all advertising packages!

Coronavirus (Covid-19)2 hours ago

CCSA announces vaccination goals for October; 50% inoculated

Coronavirus (Covid-19)4 hours ago

Phuket Covid-19: 235 daily infections, 238 hospital beds available

Coronavirus (Covid-19)5 hours ago

Saturday Covid Update: 122 Deaths 14,109 new infections

image
Join the conversation on the Thaiger Talk forums today!
Thailand21 hours ago

Oct 1 reopening NOT confirmed, Kpop star sparks frenzy for Thai meatballs |Thailand News Today

Hua Hin23 hours ago

Final arguments Tuesday on dual pricing suit against Health Ministry

World24 hours ago

Texas lawyer dressed as Halloween’s Michael Myers to spread hurricane cheer

Thailand24 hours ago

The Last Dance feat. Mike | Thaiger Bites | September 17

Thailand1 day ago

No “October reopening” plan has been approved – CCSA

Thailand1 day ago

Public Health Ministry defends October 1 reopening

Coronavirus (Covid-19)1 day ago

Friday Covid Update: 14,555 new cases; provincial totals

Crime1 day ago

Torture and forced disappearances bills pass House vote 368-0

Bangkok1 day ago

Bangkok Governor: NO reopening October 15 despite PM plans

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14 | Thaiger
Thailand4 days ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand7 months ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism7 months ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket7 months ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism7 months ago

Phuket Thai food treats you need to try | VIDEO

Thailand7 months ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism7 months ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand8 months ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand8 months ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand8 months ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand8 months ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand8 months ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand8 months ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand8 months ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand8 months ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending