So far, “Phuket”, a popular tourist destination throughout 2022, has a total of 5,628,483 Thai and foreign tourists visiting Phuket Island, of which 3,320,217 are foreigners, with foreign tourists generating income for Phuket up to 176,675.17 million baht. a sign for the tourism sector. and is expected to benefit Thailand’s real estate sector, which will begin to recover in 2023
Setthapol Buttho Executive Director of MontAzure Phuket said these numbers reflect Phuket’s full potential in all dimensions, for both the private and public sectors. It also confirms that Phuket is a popular first-class tourist destination with its well-equipped infrastructure. mega project and many amenities that help attract capital After investors saw the rapid recovery of the city. After the COVID-19 situation eases from these factors, it is worth watching the real estate market in Phuket. And after this, many more luxury projects will be launched gradually together.
Infrastructure projects to support growth
The Phuket International Airport Phase 3 expansion project is an important addition to Phuket’s infrastructure. Terminal 3 is expected to reopen. It will accommodate up to 25 million passengers a year, enhancing the reputation of this world-class tourist city.
In addition, the plan to build a light rail LRT starting from Tha Nun Railway Station in Phang Nga Province will help connect Phuket Airport to the city. to Chalong Ha Yaek Station and Chalong Pier comfortably
The other two mega-projects worth keeping an eye on are Carnival Magic Phuket and Andaman International Medical Hub.
Furthermore another important driving force is the Phuket Smart City project which has received full support from the government. Under the government’s pilot program that aims to make Phuket the first smart city in Thailand Modeled after Incheon. South Korea
The next step is to accelerate Phuket as an IoT (Internet of Things) city using various technologies such as network systems to control the switching off of lights in public spaces. data connection as well as issuing SIM cards to tourists Many of these development projects help make Phuket a magnet for future investment
The hotel business in Phuket is busy again due to the increasing number of tourists. From the first half of 2022, the majority of visitors came from East Asia, with 39% coming from Malaysia and Singapore, while 30% came from the UK, Germany, France and Russia, and 11% from India. The number of tourists from China began to increase from the opening of the country in January.
Tourists in Phuket spend around 6,400 – 7,200 baht per person per day. On average, spend 4-5 days on Phuket Island. The number of foreigners working in Thailand With the numbers increasing by 3-4% per year, more and more people are choosing to work remotely in Phuket. As a result, the demand for fully functional properties in Phuket on the rise
A valuable island full of investment potential
Beautiful beaches and world-class city-like infrastructure have contributed to Phuket’s reputation. for Kamala Beach It is an upcoming beach. which is located in the center of Phuket It is an area full of charm and abundant nature. And has been noticed by tourists and real estate investors. continuously more Land prices in this area are 55 million baht each, an increase of 4.9% over the previous year. Kamala Beach is also known for its great restaurants and nightlife for an upscale lifestyle.
Other beaches such as Patong, Karon, Kata and Rawai, with their infrastructures that offer superior experiences and a relaxed atmosphere to tourists from all over the world, continue to be the choice of investors together.
“For Kamala Beach Facilities are being developed to meet the growing needs. But this area still has the high point of being peaceful and private. The relaxed, uncrowded atmosphere is perfect for travelers who want a secluded beach and superior villas with stunning sea views. Residential projects in this area will focus on luxury villas by the sea and luxury condos by the sea,” explained Setthapol.
Fragrant Phuket for Investors
Demand for Condos, Branded Residences and Villas in Phuket from Thai and foreign investors looking for a second home is steadily rising
There is a need for houses or villas on the market in Thailand. While foreigners started looking at condo projects in Phuket. And the attractive investment factor for these properties is the profitable rental price. Foreign investors want to invest in a project that can operate in the form of a hotel and receive continuous rent every year. While still being able to own the property as a holiday home.
He also sees higher demand for second homes in Phuket for high-income Thais from Bangkok. and foreigners living in Thailand by the COVID-19 situation Become a catalyst for lifestyle changes. Not many people realize the importance of finding a second home. Moreover people all over the world who are looking for a retirement destination also see Phuket as a good option for their retirement.
Land prices in Phuket continue to rise year on year with excellent returns on investment with Capital Gains of 5.5 – 10% and Rental Yields of 5 – 8% in the northern and western areas
Beaches like Kamala Beach, Surin Beach, Bang Tao Beach, Laguna Beach, Cherngtalay Beach and Layan Beach are still selling well, however, finding properties in these areas to build projects is challenging amid demand increasing as continuously This is good news for investors. At a time when the COVID epidemic continues and the economic situation is not very favorable.
MontAzure The largest mega project in Kamala Beach ready to offer housing for being the first home Second home for relaxation or investment, surrounded by a luxurious community decorated with beautiful gardens throughout the project. Ready to provide better holidays next to Kamala Beach in Phuket.
Setthaphon said the MontAzure project is an important project with the potential to help generate excitement in the Phuket real estate market. Occurs from the collaboration between partners with experience and expertise who come to manage many projects in this kingdom.
More than 70% of the project area has started development plans such as Twinpalm Residences MontAzure, MGallery Residences MontAzure, Intercontinental Phuket Resort Hotel, Café del Mar Beach Club, 333 at the Beach and many other projects that will continue to join hands with new partners to jointly develop the area Be prepared to deliver the ultimate mixed use project at the very high end level.
Today, Phuket has become one of Thailand’s leading tourism and investment havens, with the benefits and potential of a great location that cannot be found anywhere else. Investors and luxury home seekers must keep an eye on the Phuket market.
Projects like MontAzure which is another large scale mega project which is continuously moving the project forward It will bring excitement and color to the Phuket real estate market and attract many big projects to “Phuket”, a beautiful gem of Andaman Sea.
