More Chinese and Russian investors are interested in buying properties in Phuket, said the President of the Phuket Real Estate Association
The President of the Phuket Real Estate Association Mr. Pattanan Pisutwimon told Thai media that since last year, 2022, villas are being highly sold while pool villa construction is increasing. Meanwhile, not many new condominiums are being built but a lot more existing condominiums already have been sold.
“Buyers are increasing more than the supplies we have. We cannot build in one day. It takes almost a year before construction can even be started due to proper permit licenses and other legal matters. Most of the consumer demands are for more luxury properties which are more than ten million baht. Famous areas for property popular with Chinese and Russians are in Cheng Talay, Laguna and Layan in Thalang, and Khao Kard in Wichit, Chalong, and Rawai,” Mr. Pattanan explained.
“More Russian investors are coming to Phuket due to the war. They are buying properties that can be invested in. Meanwhile Chinese investors are highly interested in top end luxury property.” Mr. Pattanan continued.
“More property companies from head offices are investing in Phuket. Trends in these properties in the future are to decrease carbon, decrease energy usage, and using clean energy instead,” Mr. Pattanan added.
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