| After more than ten years of sustained growth | | | | market on Samui as most of the properties are |
| on Koh Samui, the property market is now | | | | brand new. Management portfolios are increasing |
| maturing and diversifying. | | | | rapidly, however, and from next year onwards, |
| When it comes to market trends, in the last 5 | | | | many of those in the industry feel there will be |
| years Koh Samui has followed a similar | | | | more of a secondary market emerging. Until then, |
| development path to some of Thailand's more | | | | without any stock to fall back on, agents are |
| established resort destinations - most notably, | | | | literally having to tell people to wait for more |
| Phuket. In the early days, raw land purchases | | | | houses to arrive. |
| predominated, while the housing market mainly | | | | Despite rapid residential growth, some raw land is |
| involved modest constructions aimed at long-term | | | | still available on Samui, particularly in less populated |
| travelers rather than those looking for high | | | | areas, although prices are definitely not as |
| investment returns. | | | | affordable as they once were. Beach land now |
| One reason for the current fast-paced | | | | ranges from around Bht8 million per rai up to as |
| development on Samui is that after the | | | | much as Bht40 million per rai in areas of high |
| millennium, international security issues and regional | | | | concentration like Chaweng and Bophut. Even in |
| natural disasters prompted a popularity boom that | | | | parts of the island once considered inaccessible |
| quickly made the island one of Southeast Asia's | | | | for top-end clients, the larger developers have |
| more lucrative investment options. Success in the | | | | already snapped up most of the best beach plots. |
| tourism sector led to an explosion in the | | | | There are also still tracts of land for sale on the |
| construction of medium and top end hotels, as | | | | hillsides overlooking the Angthong National Marine |
| well as the emergence of an impressive range of | | | | Park, meaning that large, opulent houses will soon |
| fine dining choices around the island. Such services | | | | border once sleepy fishing villages like Ban |
| began to attract a new breed of visitor, and little | | | | Makham and Ban Taling Ngam. This shift in |
| by little luxury properties started to spring up | | | | preferred locations can be attributed to several |
| around the island, closely followed by gated | | | | different factors. It's clear that many investors |
| residential developments and more recently, | | | | and developers believe Chaweng and the north |
| large-scale commercial projects. | | | | coast are already too developed and busy to |
| This diversification has opened up new choices for | | | | start building luxury properties, while others simply |
| investors and one of the more recent trends on | | | | feel the land prices in these parts of the island are |
| Samui has led private investors away from raw | | | | unrealistically high. |
| land purchases, with buyer focus shifting more | | | | Whatever the reasons, with the land fast |
| towards finished, residential properties. | | | | disappearing, finished properties will soon take |
| A more permanent foreign population is beginning | | | | over as the most accessible and perhaps even |
| to emerge on Koh Samui, distinct in many ways | | | | the only form of investment on Koh Samui. |
| from their tourist cousins. Expatriate organizations | | | | Luxury market on Samui will continue to expand |
| now provide support and advice to new arrivals, | | | | and diversify, although larger stand-alone |
| and there is a resident social scene that appeals | | | | properties will increasingly have to share space |
| to many potential investors, especially those | | | | with apartment buildings and smaller villas. The |
| arriving from within the region. | | | | dramatic increase in land prices means that |
| Unfortunately, perhaps due to the nature of the | | | | developers are now keen to make the most of |
| location, demand is already greater than supply | | | | every single metre of land space. Some still |
| when it comes to the residential market, and | | | | manage to apply intelligent, considerate designs |
| shortfalls are already being felt in some sectors. | | | | that offer privacy and a sense of openness to |
| There is currently no real secondary property | | | | suit the tropical location. |