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If you have ever set foot in Thailand, you will understand what I mean when I say it is hard to resist its lure and the charm of its people.
There are so many things to love about Thailand; favourable exchange rate, warm weather, friendliness of its people and sterling healthcare.
As much as I love the country, however, it would be false to say Thailand’s property market has not been affected by the global economic crisis and the recent political turmoil.
According to Jones Lang LaSalle, coastal holiday destinations such as Pattaya, Phuket, and Samui have remained subdued during the first half of 2010.
However, with many parts of the world seeing signs of recovery, we can expect more foreign investors to hunt for luxury holiday homes or retirement villas there as they are currently 20 to 30 percent below its peak.
If you are looking to hunt for such properties, there are three luxury projects on offering that you might want to consider, one in Chiang Mai and two in Koh Samui.
Over in Chiang Mai, there are three villa residences still available at the Four Seasons Resort Chiang Mai which start at US$4.5 million. Everything else, save for the Phase I condominiums, have been sold.
Owners will get to enjoy full service by the award-winning resort and have access to a world-class spa, a fully-equipped fitness centre, tennis courts, library and reading room, specialty restaurants, a swimming pool and butler services.
Over in Koh Samui, you can own a piece of the W brand at The Residences at W Retreat Koh Samui which sits on a prime location on a stunning 900 m shoreline, surrounded by verdant foliage.
Investors can choose from a combination of stylish beachfront villas, ranging from three to five bedrooms and from 1,000 sq m to 2,752 sq m.
Over in the Samui islands, The Estates Samui is offering a private collection of 14 villas situated in a secluded cove above a private beach on stunning Laem Yai Bay on Samui Island.
Residents will enjoy unrestricted access to an extensive suite of amenities at The Estates Samui, including a world of five-star services from the adjacent Four Seasons Resort Koh Samui.
Despite the political turmoil in Bangkok, I do believe Thailand still remains an attractive investment and retirement destination.
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Reader Comments (25 comments)
For anyone truly interested in high end residences in Thailand try X2 Residences. They are very well respected here and have 7 completed resorts within the group. Three of them are offering a limited number of designer villas and condos, Samui, Kui Buri and Koh Kood, the home of Soneva Kiri. All their sites are managed by Centara so they really are high end and well run.
Most of the Singaporean does not really fully understand the rules and regulations pertaining to the buying and owning the properties there and the details of the properties there. Anybody could update me abt these?
but it sounds like that nicki.. i am also alarmed with the increasing property prices here in the country, i myself is also planning to purchase property in NZ and australia.. :) nwei, lets forget it, i apologize.
I never said that Rob! I'm still a proud Singaporean but the rising property prices scares me. It should scare you too!
thailand has one of the best property market in the world, line with Singapore and Malaysia.
to nicki: with your statement- 'why buy HDB when can buy luxury home in Thailand', it’s like you were saying "why live in Singapore where u can live in Thailand"..
thailand is really a beautiful country, just dont mind the rallies, and political turmoil it is suffering.
Haha, why buy HDB when can buy luxury home in Thailand, right or not?? Somemore got beautiful view...no need to look into people kitchen or toilet...
my brother owns a unit in W brand at The Residences there in thailand, i already checked the place and its awesome and so wonderful, especially the romantic and panoramic view of thailand sea and the shoreline.
thailand have an awesome beach resorts and hotels, they can now compete with those beach resorts in bahamas.
the luxury properties stated above seem really attractive...cant wait to visit them...
it cant be surprising if Thailand's property market has been affected by the global recession, as most countries have been also affected. Nevertheless, the country still retains its charm...
Singaporeans are so used to investing in Malaysia and Australia...wonder whether Thailand can compete. Country still has political problems so wonder if its really safe??
residential and condo units in thailand is much affordable compared with Singapore. and aside from affordable price, owners of houses nd condo units located in thailand's shore line can enjoy sea breeze and sunlight-sunset panoramic view. also, anybody with an extra cash could avail properties in the thailand shoreline unlike the waterfront living in Singapore where ultra-rich and freaking rich Chinese billoniares can only afford.
i agree on what toyang said. when the tsunami occured in thailand, tourist influx have declined, but they are recovering even with the political crisis that haven't sold until today. however, some countries still have travel ban to thailand, including countries like US, Australia and the eurozone w/c contributed to a large number of tourist arrivals in thailand.
(cont) with this new approach, at least tourist are at-ease and worry free that no tsunami could surprise them again when an eartquake occur, coz the west shoreline of the country is not vulnerable to a tsunami, its not an open sea coz of its sorrounding nations like malaysia, cambodia and philippines, unlike the east costline w/c is facing indian ocean.
thailand has really have a great shoreline, but when the tsunami struck the country in 2004, the number of visitors have decreased rapidly, combined with the political chaos it is suffering today. new development like beach resort, spa and hotel are forming in the east shoreline of the country, the one facing in gulf of thailand.
to nicholas yap: i like your term - "a freaking rich billionaire from China",, hahaha!.. well, chinese billionaires really know how to spend money in a luxurious way.
It will be hard for Singapore to compete with Thailand in the luxury property market. Prices are so much cheaper compared to Singapore and there are so many developments. Unless you're a freaking rich billionaire from China who can drop $36 million for a home in Sentosa Cove...
Tourists now prefers S'pore than Thailand.
Away from Bangkok, I believe the islands are rather safe. So far, there hasn't been any problems...fingers crossed.
Van: yes! it's really not that surprising since the Prop market is not affected. Moreover,the country is a place to be in Asia - with the beautiful beaches and resots.
the political chaos in Thailand is happening in the capital city, far from its shore line where many holiday spots located. however, this political chaos happening in the country greatly affect the tourist influx, as they have to pass in the city to get in their destination, several countries, like US, UK, Australia, nd other erupoean nations have released travel ban to thailand.
Despite the global economic downturn and the political unrest in Thailand, the country is still a place to be. I'm not surprised if Thailand’s property market has not been affected.
Thanks for the info... Lately, I totally ignored Thailand because of the political tormoil. I can't wait to see more of it.