3:39 am - Wednesday September 28, 2016

Luxury houses in Phuket 3 times more expensive than Bangkok

Luxury houses in Phuket 3 times more expensive than Bangkok

Mr. Sopon P, Chairman of the Executive Committee, Research and Information Center of the Thai Real Estate said “Agency for Real Estate Affairs has discovered 162 local housing projects, with a total of 7,344 units. 45% of those are single storey houses, 17% are townhouse, 13% 2 storey houses and 6% home/office.

In 2011 there were 4,654 units of new opening housing projects, with 3,766 units from its projects able to sell; this shows the large buying power of people in Phuket. However real estate for locals and Thai people in Phuket still relies on the situation of the tourist industry.

There are 144 vacation home real estate projects in Phuket, consisting of 6,216 units worth around 91,417 million baht in market value. The average price of these properties is about 14.7 million baht, which is considered very high, in fact 3, or nearly 4 times higher than to the average price of housing in Bangkok and nearby areas. Currently, the average housing price in Bangkok and nearby areas is only 3 million baht.”

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