Phuket Mega Villas Enjoying Brisk Sales
A look at how the pandemic has made some high networth individuals shift their gaze at Phuket?s mega-villa property sector.
The post Phuket Mega Villas Enjoying Brisk Sales appeared first on LUXUO.
Based on market research done by Thailand consulting group C9 Hotelworks, Thai buyers who sought refuge during the pandemic have reignited Phuket?s property sector of mega villas by multi-millions, with over THB 5 billion (approx. USD 167 million) in primary and secondary high-end properties have changed hands. While the broader marketplace remained flat, it was the top-tier transactions that reached their peak in five years in 2020. Thais with strong pecuniary abilities indulged in expanding their real-estate portfolio by splurging on buying tropical mega villas with four or more bedrooms. Wealthier individuals are opting to purchase mega-luxury Phuket villas for investment
Bill Barnett, C9?s Managing Director and 2020 judge for the PropertyGuru Asia Property Awards (Greater Niseko), said, ?Country living and estate villas in the age of pandemic are a strong reaction driven by both internal and external factors. Thailand?s wealthy have been effectively stranded in the country for nearly a year and the impact has seen them revisiting and falling in love with Phuket.?
Barnet also added, ?Resort real estate remains an emotional proposition and this is a contributing factor in reigniting luxury property sales.?
When studying Phuket’s real estate market, it was the major discoun...
The post Phuket Mega Villas Enjoying Brisk Sales appeared first on LUXUO.
Based on market research done by Thailand consulting group C9 Hotelworks, Thai buyers who sought refuge during the pandemic have reignited Phuket?s property sector of mega villas by multi-millions, with over THB 5 billion (approx. USD 167 million) in primary and secondary high-end properties have changed hands. While the broader marketplace remained flat, it was the top-tier transactions that reached their peak in five years in 2020. Thais with strong pecuniary abilities indulged in expanding their real-estate portfolio by splurging on buying tropical mega villas with four or more bedrooms. Wealthier individuals are opting to purchase mega-luxury Phuket villas for investment
Bill Barnett, C9?s Managing Director and 2020 judge for the PropertyGuru Asia Property Awards (Greater Niseko), said, ?Country living and estate villas in the age of pandemic are a strong reaction driven by both internal and external factors. Thailand?s wealthy have been effectively stranded in the country for nearly a year and the impact has seen them revisiting and falling in love with Phuket.?
Barnet also added, ?Resort real estate remains an emotional proposition and this is a contributing factor in reigniting luxury property sales.?
When studying Phuket’s real estate market, it was the major discoun...
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