2011 overview and what can we expect from 2012 for property in Phuket.

ZEST REAL ESTATES thoughts on 2011 Phuket property Market and what we can expect from 2012.
By: mark Lightfoot - Zest Real Estate Phuket
 
Jan. 11, 2012 - PRLog -- ZEST REAL ESTATE 2011 overview and what can we expect from 2012.

Well, another year goes by, lots to analyse and plenty of stats to mull over, but has 2011 been a successful year in Phuket property?

The success stories of 2011 has to be Malaiwana Villas in Nai Thon, selling so many Villas over the “low season” at $3.5 million + and also the roaring success of Amanpuri Phase II villas. There has  also been plenty of re-sales in prime locations and many other transactions, on the island. I will not list them all but I can assure you they have happened.

The future for Phuket seems to be looking bright for the High end market, a big Russian influence is starting to make their presence felt, which has already been seen in early 2012.  The more common buyers continue  with India, Australia, HK, Singapore, mostly expats will continue to buy and also Bangkok residents that are maybe looking for a second home after the flooding in 2011.

The amount of transactions though is not really making a dent in the amount of re-sale properties, but location is key when buying and selling. Inland properties are getting a little left behind and will have to reduce their prices considerably to sell.

The Phuket future video has only emphasized what is happening to Phuket, it is becoming a playground for the rich and famous, more luxury boats are seen on the west coast and more & more Ferraris, BMW, Hummers etc… can be seen on the island.  Increased tourism in 2012 will have a significant impact, to be honest, we usually just counts the extra rows of chairs on the beach to give you  a good indicator.

High End West Coast property will continue to sell in 2012, this is where the good investments are and if affordable, should be where the focus should be.

There has definitely been an increase in Re-sale property on the West Coast and due to the lack of prime land available, owners should be very happy with their purchases and potential re-sales in the future.

Although we are taking listings almost on a daily basis for people willing to sell their property, these are usually properties that are not so appealing to buyers, aack of sea view or a drive to the beach, not managed properly etc.…. Where as the demand has always been for well managed, sea view, West Coast, financially secure developments.

We still have the buyers that are after a 50% discount, I agree that you will find it on the island but not in the places that they want to find it. Can you imagine developments like Kata Rocks, Malaiwana, Andara offering a 50% discount on property. Extremely unlikely, in fact it is just not going to happen.

Here is a little insight for all the buyers out there. Phuket has a large amount of re-sale properties on the island, which would lead you to believing that everyone is desperate to sell. Whilst this might be the case for some properties, I can guarantee you these are properties that should not have been bought to start with. These have no sea view, are not within walking distance of the beach and have no amenities, also the developer has probably walked away from the development, leaving the owners with the responsibility for Management, rentals etc etc….

Now for all the properties that are the complete opposite and are close to the beach, well managed, sea views, why would they want to sell for a fraction of what they paid for it when it is still in demand and still selling.

There are two re-sale markets in Phuket, the one that where buyers have bought well and the other where people have bought poorly. New buyers cannot expect these two markets to merge into one and expect 30 or 40% discounts on prime located property.

At the end of the day we need to stick with what everyone says time and time again, LOCATION, LOCATION, LOCATION.

My view is stick to the same principles that you would want when you are holidaying in Phuket. Sea view, close to beach, close to restaurants and bars and a well managed development.

In summary, 2012 looks promising for prime located property.

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Zest Real Estate, a dynamic, fresh look into Phuket properties. A home for life or purely investment, Zest will find your perfect property.
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Source:mark Lightfoot - Zest Real Estate Phuket
Email:***@zestrealestate.com Email Verified
Zip:83110
Tags:Property, Real Estate, Phuket, 2011, 2012, Phuket Market Overview, West Coast, Malaiwana, Amanpuri
Industry:Travel, Property, Real Estate
Location:Thalang - Phuket - Thailand
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