Investing in Phuket – The Property Boom

Filed in In the News, Articles, Lifestyle, About Phuket by on November 19, 2013

central_festival_promo_bannerproperty_boom_central_festival_featuredA colossal 20 billion baht is being invested into Phuket by Thailand’s largest developer of real estate and retail, The Central Group, will be spent over the next five to seven years on projects around Phuket. Central Festival in Phuket City is one of the largest shopping malls in Phuket. The new enterprise plans to construct deluxe hotels, upscale shopping malls and office towers on three strategic locations over 630,000 square metres of prime Phuket land.

Central Group’s aim is to provide more quality establishments in Phuket, attracting high-end visitors and further improve Phuket as an outstanding tourist destination. One of the projects planned is a huge ultra-modern shopping mall to be built near Phuket airport in the northern part of the island. With well over two million overseas visitors to Phuket every year, and rising, the island is an attractive place to invest in.

Phuket is experiencing an influx of real estate investors acknowledging Phuket’s potential and anxious to develop on the island’s limited space. Laguna Property recently announced a 2 billion baht project to build 2000 new town houses and condominiums (see here). Tri Property Co. is set to invest 1.2 billion baht on constructing villas on beachfront locations. Along with other companies, such as Amari Estate and Charn Issara, a total of 50 billion baht will be invested in commercial and residential properties in Phuket over the next couple of years.

An increase in demand for property to rent or buy in Phuket, from both locals and foreigners, has led to a rapid rise in development projects. A survey conducted by The Nation showed that in the next two years the construction of more than 4,000 new condominiums and low-rise housing units will have been completed.

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CyanSiam Real Estate pride ourselves upon giving visitors to Phuket, Thailand a first class service whether visiting for a holiday or moving on a more permanent basis. With an in depth knowledge of the island we can recommend, advise and assist in all aspects of life in Asia as well as offering vacation villas and country homes, long term rental accomodation and investment opportunites. Cyan Siam - the Caring Face of Real Estate in Phuket

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