Samui Turning into 'Boutique' Hotspot
Koh Samui is hovering to turn into Asia's ''boutique island destination'' with limited properties with characters dissimilar from resort destinations like Phuket, as per the real estate consulting firm CB Richard Ellis.
Prakaipeth Meechoosarn, manager of CBRE Samui, said developments on Samui were controlled, even though more local and foreign players were getting involved, the island continued to be an elite destination for tourists in search of a quieter, more isolated retreat.
There are only a few numbers of condominiums in Samui, and a fresh survey of the sector revealed that 70% of the total accessible and future supply of just about 500 units was still under construction.
The northeast area of the island (Choeng Mon Beach) financially records about 38% of total accessible and future supply, followed by the north (28%) and the east (25%). 59% of units were sold by the end of second quarter of 2008.
Costs of condominium units on Koh Samui range between 1.8 - 48.7 million baht per unit, with an average of somewhat 10.4 million baht.
Villa supply is in the same way inadequate, with approximately 550 accessible and future villa units spread in 41 projects. The north and northeast coasts have been established and being admired for villa developments, with 21 projects accounting for 40% of entire unit supply, followed by the west (17%) and southwest (14%). 44% of the total obtainable and future supply had been sold by now in the second quarter of 2008.
In the long run, CBRE considers, the high-end and luxury segments of the Samui property market will do better than the market overall. Coastal land costs have been on the mount and prime plots are getting uncommon.
''Land cost movements will play a noteworthy task in the pattern of development on Samui, as will the constant development of infrastructure and other support services,'' said Ms Prakaipeth.
Prakaipeth Meechoosarn, manager of CBRE Samui, said developments on Samui were controlled, even though more local and foreign players were getting involved, the island continued to be an elite destination for tourists in search of a quieter, more isolated retreat.
There are only a few numbers of condominiums in Samui, and a fresh survey of the sector revealed that 70% of the total accessible and future supply of just about 500 units was still under construction.
The northeast area of the island (Choeng Mon Beach) financially records about 38% of total accessible and future supply, followed by the north (28%) and the east (25%). 59% of units were sold by the end of second quarter of 2008.
Costs of condominium units on Koh Samui range between 1.8 - 48.7 million baht per unit, with an average of somewhat 10.4 million baht.
Villa supply is in the same way inadequate, with approximately 550 accessible and future villa units spread in 41 projects. The north and northeast coasts have been established and being admired for villa developments, with 21 projects accounting for 40% of entire unit supply, followed by the west (17%) and southwest (14%). 44% of the total obtainable and future supply had been sold by now in the second quarter of 2008.
In the long run, CBRE considers, the high-end and luxury segments of the Samui property market will do better than the market overall. Coastal land costs have been on the mount and prime plots are getting uncommon.
''Land cost movements will play a noteworthy task in the pattern of development on Samui, as will the constant development of infrastructure and other support services,'' said Ms Prakaipeth.
Labels: condominiums, real estate, Villa
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