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House Hunting In ...Thailand

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A military coup in Thailand in May and the imposition of martial law, which continues, slowed property sales, but they have rebounded since the beginning of this year, according to Richard Lusted, the chief executive of the Phuket-based brokerage Siam Real Estate, which has this listing.

The price index for single-family detached homes in Thailand has grown every year since 2008 by 1 percent to 5.4 percent, according to housing data from the Bank of Thailand. The price indexes for condominiums, townhouses and land have grown even more quickly over that period, frequently in the range of 5 percent to 12 percent a year.

Phuket is the most popular location for foreigners seeking to buy homes in Thailand, said Ann Adenius, a director of the international brokerage Signature Residences Worldwide. “Phuket has established itself as a world-class resort destination,” she said. “The island offers an international airport, international schools, first-class hospitals, championship golf courses, excellent yachting marinas, fine dining and Western-styled shopping malls.”

Many buyers are looking for lower-cost “off-plan” or brand-new villas with two to three bedrooms and a pool on modest plots of land in boutique developments, Mr. Lusted said. Those homes typically range in price from about 7 million to 16 million baht, or roughly $217,000 to $496,000.

However, villas in Phuket can range up well beyond the million-dollar range, such as the one listed here, and that market, which is largely made up of cash buyers, has thrived even in challenging economic times, Ms. Adenius said. “While buyers previously looked for properties on the traditionally-favored west coast of the island, Phuket’s south and east coast have surged in popularity as an upmarket alternative,” she said.
 

http://www.nytimes.com/2015/02/19/realestate/house-hunting-in-thailand.html#

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