Please select your home edition
Edition
Southern Spars

Phuket booming

by Rob Kothe on 9 Dec 2006
Two years after the Asian Tsunami, Phuket is booming. The 2004 December 26th Asian Tsunami caused significant damage in the region, but the recovery was rapid.

Raimon Land CEO Nigel Cornick explained; ‘The initial post Tsunami period was difficult for Phuket, but by last Christmas activity was back to pre-Tsunami levels. It only took twelve months, hotels are full and high season bookings are extremely strong.

‘Phuket is going from strength to strength. It has all the fundamentals, superb climate, the beaches, the islands and the city infrastructure.

‘We are delighted with the Phuket Kings Cup event and we have now confirmed our sponsorship until 2012. ‘It is one of our key sponsorship initiatives; it’s a wonderful event and it fits well for us.it has synergy with our resort destinations and boating and yachting.

‘While our Bangkok developments are high rise condominiums, high rise in the cities, in Phuket we develop in sympathy with the environment. ‘With the development of the internet, people can work in setting overlooking the beach in Phuket and watch the boats, rather than sitting in offices in Bangkok or Hong Kong.’

Last year, at the Phuket King’s Cup Regatta, Raimon Land introduced The Heights project featuring 51 freehold condominiums with stunning sea views on Phuket’s most exclusive location, Kata Bay. Twelve months later, over 65% of the units have been sold, achieving record prices between 80,000 – 95,000 baht per square meter.

Not only will major luxury hotel chains such as Grand Hyatt, Ritz Carlton, and Shangri-La soon be part of Phuket 5-Star portfolio, but private villas and luxury apartments are also emerging all around the island.

While two-to-three years ago, less than five condominium developments were marketed on the island, today one can easily count more than 40 projects under development, worth an estimated 20 billion Baht (US$ 500m). Phuket is now a more mature market where land is being bought to be developed, villas and apartments are occupied and booked year round, and the resale market is healthy and liquid.

According to Raimon Land research, most of the demand is coming from non-Thais with a great majority coming from foreigners living outside Thailand. British, American and Scandinavian are the most frequent buyers of condominiums. Foreigners can fully own their condominium, while villas owners need to register the land under a leasehold structure. In early 2005, condominiums were selling at an average of 60,000 Baht a square meter, while they are now selling at around 74,000 Baht. This trend is still on the up side as Raimon Land sold its latest units at The Heights for 90,000 Baht a square meter.

All world regions have their own resort destination, America has the Caribbean, Europe has the Mediterranean and now Asia is seeing the emergence of the Andaman. 'The investment world map has switched to Asia, to Hong Kong, to Singapore, to Shanghai and the property and leisure market is moving towards Thailand' added Mr. Cornick.
Zhik Dinghy 660x82Bakewell-White Yacht DesignSouthern Spars - 100

Related Articles

America's Cup - Advice for young Sailors
Hear the America's Cup skippers' advice for young sailors looking to follow in their footsteps. Hear the America's Cup skippers' advice for young sailors looking to follow in their footsteps. Interviewers talk with Dean Barker, Jimmy Spithill, Glenn Ashby, Iain Percy and Ben Ainslie and get their advice, plus how and when they started sailing.
Posted today at 12:23 pm
Volvo Ocean Race - Enright and Towill ready to go again in 2017/18
Team Alvimedica skipper Charlie Enright and his long-time buddy Mark Towill are eager to put their experience to use. Team Alvimedica were the youngest team in the race last edition, and now skipper Charlie Enright and his long-time buddy Mark Towill are eager to put that experience to use. Volvo Ocean race's Jonno Turner caught up with Mark and Charlie to chat about everything from the transition back into 'real life', their reflections on the 2014-15 campaign - and the future.
Posted on 29 Aug
America's Cup - Oracle Team USA's AC50 well underway in Warkworth
Oracle Team USA’s new America’s Cup Class boat is taking shape at the team’s build facility in New Zealand Oracle Team USA’s new America’s Cup Class boat is taking shape at the team’s build facility in New Zealand, Core Builders Composites, Warkworth, 40 minutes north of Auckland. The major components for the 15-meter platform, including the hulls and cross beams, have now been built.
Posted on 28 Aug
America's Cup - Oracle Team USA play catch up with Softbank Team Japan
Back in April 2017, Softbank Team Japan mastered the foiling tack in their AC45 Surrogate boats Back in April 2017, Softbank Team Japan mastered the foiling tack in their AC45 Surrogate boats, claiming to be the first AC team to have achieved the move. Two days later Oracle Team USA claimed to have done the same.
Posted on 28 Aug
Clipper Round the World Yacht Race - Crew catch up - Meet Dhruv Boruah
After crew members have completed their global ocean adventure, some go back to their previous lives and occupations After crew members have completed their global ocean adventure, some go back to their previous lives and occupations, some decide on a future in the marine industry, some take time out to assess their next move in life and others seek their next challenge.
Posted on 27 Aug
SoftBank Team Japan achieve first foiling tack
SoftBank Team Japan announced today that they cracked foiling tack earlier this year while training with their AC45 boat SoftBank Team Japan announced today that they cracked the foiling tack earlier this year while training with their AC45 Sport test boat in Bermuda.
Posted on 26 Aug
The Clipper Race turns 20!
Throughout the race, tales of crew celebrating birthdays on board filter back and they are always a special occasion Throughout the race, tales of Clipper Race crew celebrating their birthdays on board filter back and they are always a special occasion, likely to remain a completely unique event in their lifetime.
Posted on 23 Aug
America's Cup - Architect of NZ Qualifier withdrawal steps down
The Commissioner for the America's Cup General Dr. Harvey Schiller has stepped down from the role The Commissioner for the America's Cup General Dr. Harvey Schiller has stepped down from the role and will finish at the end of the month. The move was confirmed today by America's Cup correspondent Bernie Wilson of the Associated Press.
Posted on 23 Aug
An Q&A with Steve and Heidi Benjamin about the NYYC’s 2016 Queen’s Cup
Sail-World caught up with Steve and Heidi Benjamin to learn more about Heidi’s historic win in the NYYC’s Queen’s Cup. When it comes to U.S. Grand Prix sailing, it’s hard not to encounter the names of Steve and Heidi Benjamin. The two highly polished sailors have been successfully campaigning their series of yachts, named SPOOKIE, for years, starting first with a Carkeek 40 and progressing to their TP52. I caught up with Steve and Heidi to learn more about Heidi’s historic win in the NYYC’s Queen’s Cup
Posted on 19 Aug
PredictWind - One stop shop
PredictWind have taken the bold step of adding government provided forecasts to their award winning forecasting software PredictWind the world leader in forecasting believe that more is better, and have taken the bold step of adding government provided forecasts to their award winning forecasting software.
Posted on 15 Aug