It could also be said that this harmony can extend into the property market. Characteristically slanted roofs and stilts used to raise the houses take into account heavy seasonal rainfall. But modern developments in construction have opened up the possibilities for tropical design. They design, they build and they even make the concrete. Many of these properties are specifically aimed at consumers who desire ‘tropical’ designs. One of the reasons for this is termites, which present a real danger to anyone who decides to invest in a building supported by wood. In terms of the building’s skeleton, the use of hardwoods such as teak is no longer appropriate. The demands of large-scale construction and depleting forestry also mean that hardwoods are neither economically or environmentally friendly. We have made the most of the flat roof to provide roof gardens composed of pools, decks and planters – aside from the aesthetic benefits these items act as passive climate controls that help to cool the building and thus reduce the dependence on mechanical ventilation/ac.
Each villa averages 450sqm living space with private swimming pools. Condominiums and apartments are rapidly appearing on the island’s skyline, mid and lower end villas are being built further inland and marinas are becoming a new focus for property development. In addition, the east coast is now being exploited for its land availability as the last areas of beachfront land on the west coast are acquired. They can also be rented out easily and a condominium can be bought freehold, making re-sale much easier. In the meantime, there has been a great deal of interest from elsewhere. Wayne ‘Red’ Graham of East West Properties says, “There is also interest from America, Canada, India, and Malaysian Singaporeans. Thais from Bangkok are also purchasing land in Phuket, either to develop or to buy and sit on. There is a lot of activity inland – the last of the beachfront land is being bought and hotel chains are actively looking for the best land and finding themselves having to compromise. Phuket is not a vast island. It has a finite amount of land for development. “Developers on the east coast have learned from the mistakes of the west coast – rapid development occurred on the west coast but with a lack of infrastructure.
In general, property prices have doubled every seven years, but in Phuket the prices have doubled every three years, and I see no reason why prices will not continue to rise. The south of Spain and France have come off the boil,” he says. “People have been disappointed, have been hurt and have lost money. We hear horror stories of not only buyers loosing money on investment, but also developers fleecing money and robbing them. Whereas coming here, they can deal with a trusted name. For example, we have one British investor who has just bought two rai of beachfront land, site unseen for 16.5 million Baht,” he says. “His logic was quite interesting – he thinks that Europe is heading for a series of falls. Also, many of the UK buyers have unfortunately already had their fingers burnt when buying off plan in Spain or Portugal, so are less likely to do so here. Asia is where it’s at and he thinks two things will happen.
Another indicator of the property boom supplied by K. Thanit was the amount of tax collected by the PPLO. In 2003 the figure was about 100 million baht, he said, whereas in the first three months of this year alone, a massive 456 million baht in taxes was paid to the PPLO. 20 million baht per rai. He said, “Land on Phuket is one-fifth the price of land in Singapore, but we expect it to increase to half the Singapore price. Prices for land along Patong’s beach road increased as much as 300% in some areas, with the most expensive plots valued at 50,000 baht per square wah (12,500 baht per square meter). Click here to send this story to a friend! PHUKET: Phuket property owners can expect higher land taxes in the new year as the Phuket Treasury Office (PTO) has announced an island-wide average increase of 65% in government-appraised land values.
People here are so friendly and the food is great. From my experience as a seasoned traveler, I can honestly say that rarely have I found the owner or the general manager of a hotel or resort take the time out to acknowledge their guests. PHUKET: Figures indicating how the property industry in Phuket is booming were presented yesterday by the Phuket Real Estate Club (PREC). Of these, 28 had so far been approved. At a conference on the southern Thai economy, held at the Royal Phuket City Hotel, PREC Secretary Thanit Prateepnathalang said that between January and July this year, property companies applied for permission to build 43 new developments. The investment in individual developments ranges from 250 million to 700 million baht, he said, noting that most are aimed at European or American buyers. Last year, according to figures from the Phuket Provincial Land Office (PPLO), 10 property companies were granted permission for developments. 0.01% has made the property business grow rapidly, especially in Phuket,” said K. Thanit.