Koh Samui boom attracts global real-estate firm 
Koh Samui boom attracts global real-estate firm
Strong demand
for residences on Koh Samui has led global real-estate firm CB Richard
Ellis to open a full-scale office on the prime tourist island.
It will begin operations on Friday.
Chairman
David Simister said despite concerns over the political situation, CB
Richard Ellis had seen a strong and consistent demand for resort
properties, particularly on the inspirational tropical islands of
Phuket and Samui.
Over the past two years, Koh Samui has
experienced significant growth in the number of visitors, and the
island is attracting a higher calibre of tourists, he said. The number
of passenger arrivals at Koh Samui Airport increased from 600,000 in
2000 to 1.3 million last year.
Koh Samui`s accessibility has
improved along with Bangkok Airways` route expansion, Simister said.
The airline now operates daily direct flights between the island and
both Singapore and Hong Kong, which have contributed significantly to
growth in the Koh Samui real-estate market. The flights allow property
owners to commute conveniently between their workplace and holiday
homes on Koh Samui, with greater convenience than Phuket. There are
also two daily connecting flights to Phuket.
The new airport
terminal on Koh Samui, which opened at the end of May, has quadrupled
the airport`s capacity, allowing for significant future growth.
Simister
said while Koh Samui`s property market and infrastructure were not as
mature as on Phuket, it was nevertheless an improving market that was
attracting reputable developers. High demand for beachfront land on Koh
Samui has resulted in prices of up to Bt15 million a rai, a level
similar to some parts of Phuket.
A shortage of good beachfront
land has also increased the number of hillside developments offering
panoramic views of the Pha-ngan Islands and Marine Park.
He said
traditionally, the Koh Samui market had focused on villa developments
but that a condominium market had begun, with good-quality projects
being launched. While Phuket`s condo sector is priced below villas, it
has performed consistently, and CB Richard Ellis expects the same from
Koh Samui.
Prakaipeth Meechoosarn, CB Richard Ellis` Koh Samui
manager, said although half of the villa developments on Koh Samui are
US$1 million (Bt34.21 million) and below, there is an emerging market
and clear demand for top-end villas in excess of $2 million.
Source: http://thailand-property-guide.com/?p=news/article&NewsID=568
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