Koh Samui Real Estate Agents
The real estate industry on Koh Samui has changed dramatically in the last ten to
fifteen years. Breaking into the minds of adventurous travellers in the 1980s
as an island largely sustained on fishing and coconut farming, Koh Samui
quickly rose to become one of Thailand's, if not Asia's, favourite travel
destinations with world-class lifestyle offerings for a variety of discerning
travellers, who come to the island for its dramatic beauty, long sandy beaches,
green hills and friendly atmosphere.
In the early years, the majority of accommodation available was in the form of
relatively simple huts and bungalows around the west and northwest of the
island with the occasional hotel offering mediocre rooms at very affordable
prices. But as the island's popularity grew and visitor numbers shot up, there
was a need for more and better accommodation choices. Around the same time,
Thailand became an increasingly popular investment destination due to a strong
local economy and a bright outlook. Koh Samui received an airport and suddenly
the problem of reaching the island, which is a good half day's travel from
Bangkok, was solved.
As a result, Koh Samui experienced a building boom. World-renowned hotel chains
started building ever-larger and more extravagant hotels and resorts on the
island, and for a while in the late 1990s and early 2000s, Koh Samui was
buzzing with activity with a new large resort seemingly being built every week.
The boom was facilitated by loose regulations and a hunger for fast returns and
while there was certainly some large fast gains to be had in the beginning of
the boom, land and property prices naturally rose and the margin narrowed.
Today, the real estate industry on the island has somewhat matured as the
global financial crisis left only the most professional developers standing and
temporarily curbed the aggressive pace of new developments. Local authorities
have also implemented stricter regulations and it is no longer possible to
build anything, anywhere.
Finding one's way around the island's property industry can be tricky but with the help
of an experienced real estate agent, the risk of investing on Koh Samui can be
minimised. Thailand has a number of laws and regulations regarding foreign
ownership and especially the laws around land ownership can be fairly
complicated and expert advice is always recommended before signing anything. It
is the buyer's responsibility to conduct due diligence which can be difficult
when in a different country but buyers who are interested in exploring Koh
Samui's excellent real estate offerings are strongly advised to seek out the
services of a good local agent familiar with the specific laws and regulations
on the island.
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