According to Pasu Liptapanop, executive director of the developer Proud Real Estate, Phuket's housing market, especially in the luxury segment, remains stable and demand continues to grow. "About 60% and 70% of buyers are from abroad, including Russia, Israel and the Middle East, and 30% and 40% are locals, including Bangkok residents and expats living on the island."; he said.
According to developers, the demand for housing on the island continues to grow due to the influx of foreign buyers, in particular, Russians. They are attracted by a combination of factors: a tropical climate, a pleasant lifestyle and profitable investment opportunities.
Expensive real estate is mostly located along the west coast. International schools, world-class medical institutions, elite shopping malls, and private marinas are concentrated there.
Phuket authorities are going to modernize the transport infrastructure, which will further increase the attractiveness of the island for foreigners. There are plans to expand the airport, create a light rail system and a new marina.
Source: Bangkok Post
