Koh Samui PropertiesThe choices available to property buyers on Koh Samui when it comes to buying permanent or second homes is now extensive. Prices have increased significantly since the island first made its debut on the international property stage, but the market has also matured, which means investors can now choose whether to purchase off-plan, to buy into a completed development or to select a house that's on the market for re-sale.
New properties are constantly being added to the Samui landscape with private investors, low-key developers and well known corporate brands all building new houses and offering them for sale in a variety of locations. This has created a relatively stable property market, one based more on a genuine desire to own a property rather than simply to speculate for profit.
In recent years, properties at the luxury end of the price ladder have enjoyed plenty of interest from foreign investors. This is largely because Samui still offers excellent value at the top end, especially when compared to other resort destinations, both in Asia and elsewhere in the world. Regional investors from places like Hong Kong and Singapore were quick to notice the value on Samui, and with direct connections to most Asian hubs, the island also offered an appealing opportunity for those in search of a luxurious and easily reached holiday home.
For those living outside Asia, financial considerations have become more of an issue since the global economic slowdown. This has inspired a slew of new developments aimed at the mid-range investor, with apartments and low rise condominiums now attracting more buyers from countries in Europe. Ownership options on Koh Samui have also diversified, along with management schemes that allow investors to use their property for a certain amount of time, then rent it out as holiday accommodation in order to reduce costs and see a faster return on their investment.
As the number of permanent and long stay foreigners has increased, the retail and service sector has also expanded to meet demand. International brands such as Tesco, Starbucks, Boots and Watsons are all now a permanent fixtures around the island, which means international residents enjoy virtually the same choice of foodstuffs, household products and electrical items that they would at home in the west. The current Samui government has also worked hard to gain better status for the island as an independent, revenue generating destination, worthy of serious public investment. Intermediate city status was recently granted to Samui and this has brought larger budgets from Bangkok, which are being used to make improvements to the roads, drainage and the supply of essential utilities such as tap water and continuous electricity.
The arrival of international standard educational establishments, as well as an improvement in private medical care has also added to Samui's appeal as a place to invest in property. As more people relocate to the island, social clubs, expat societies and associations are building a greater sense of community amongst foreign and Thai residents and this, combined with ease of access makes the island an attractive choice for people in search of a lifestyle change. The number of properties now available on the island has not only created something of a buyers' market, but is also likely to mean that values appreciate as more people look to invest in the tropical lifestyle. Secondary sales now account for a significant percentage of the market, while international marketing has allowed the residential side of Samui to develop on its own, without having to depend on a consistently high volume of tourists to attract buyers.
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