Inconsistent prices in Phuket?

Sept. 21, 2011 - PRLog -- Throughout my years in Phuket Real estate, I have always been perplexed as to the inconsistent pricing of property.  You might find a huge 4 bedroom villa with ocean view in the center of Surin for 60 million THB, then the next day you will visit a penthouse unit which is half the size with no sea view and has been sold for 50 million THB.

Here’s my theory, as agents we like to give advise to sellers, inform them of their competitors price, a comparable property & the market atmosphere and tell then prices for what has sold in the area or what buyers are prepared to pay.

An example of this would be about a year ago I was asked to value a property in Kalim, another agent also valued the same property, we both came to the conclusion,  list the property for around 65-70 million THB, His response “thanks but we are going to list it for 110 million THB”. Even though you could buy land and build the same exact house next door for a fraction of the cost,  he remained convinced of his valuation.

The difficulty we have sometimes is that no matter how desperate sellers are to sell their property it, it will never be at a loss or just break even and walk away, not everyone buys a property that appreciates by 20% per annum.

As agents we have an overview of the market,  we know where the demand is and what a realistic price is, we have recently heard of some huge purchases that are way over the asking price that have little or no chance of appreciation in the next foreseeable future.  We don’t want this to happen to you.

Don’t be so desperate to part with your money, we have recently found some superb investments on re-sale property and with developers, the matches the criteria that is in huge demand.

Take your time with your purchase and seek our advice.

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