Q4 2009 saw a continued recovery in the Phuket property market. Sales of resort property improved but were still at low levels and mainly concentrated in a limited number of projects. The level of built but unsold inventory of completed condominium and villa units is low.
Prices for built property have remained relatively stable with few examples of forced sale situations. Purchasers are cautious and are focusing on projects promoted by known developers where there has been visible construction progress. We believe that demand is recovering.
Overall Phuket has come through the combination of the global financial crisis and Thailand's political problems relatively unscathed. The opportunity and challenge is for developers to identify target markets and create properties that match those requirements. Potential buyers will be more cautious and will want to be confident about ability of developers to deliver product both in terms of their financial resources and development expertise.
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1 comment:
Do you have some photos of the place?
Philippines properties
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