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Koh Samui Real Estate
Prices for Koh Samui land and houses have risen sharply in recent years with many individuals and companies choosing to invest and build on the island. Although there is still some raw land available, most of the prime plots are either in the process of development or already the site for completed projects, houses and hotels. The properties for sale and lease around the island range from simple bungalows to multi-million dollar villas. For this reason, Koh Samui continues to attract a diverse range of property buyers with a vast array of motivations for investing.
Better access to quality construction materials and labor continues to drive the property market ever higher. This also means that homes on Koh Samui are becoming increasingly sophisticated, boasting innovative designs by well-known architects and features that rival luxury houses in more established resort destinations like the Mediterranean or the Caribbean. As the infrastructure improves to support this high-end development, the island is slowly being transformed into a sophisticated residential resort destination with a growing permanent population and more quality services.
Demand for high-end homes has caused development to spread out from the main tourist areas to more remote locations. The north coast around Bophut and Mae Nam have become popular residential areas and more recently the quiet, southern part of the island around Lipa Noi and Taling Ngam has become something of “millionaires’ enclave”, with some of the island’s most ambitious properties being constructed in spectacular tropical locations.
At the budget end of the market, smaller properties built around a communal swimming pool also attract plenty of interest, as do townhouses and apartments. A recent commercial property boom along the island’s main ring road brought the shop house concept to Samui. This allowed investors to serve both their commercial and residential needs under one roof. Meanwhile, a number of new condominium developments scheduled for completion within the next two years have already attracted buyers off plan. Adding yet more options to the real estate scene.
With so many choices available to buyers, the market for secondary sales on Samui is still relatively modest. However, it’s always possible to find houses for sale around the island, and due to the transient nature of the resident population, good deals can often be found. In fact, relative to Europe, prices remain very reasonable across the board on Koh Samui and also compare favorably with other resort destinations in the region like Bali and Phuket.
Despite widespread construction and development, the Koh Samui property market recently hit a slump due largely to wider political concerns in Thailand. However, many property professionals saw this slow down as a chance to consolidate and the real estate market is now emerging with a stronger foundation as large, international companies have added their names to the list of investors. With sound legal advice and a reliable agent, buying a property on Samui is now an attractive prospect, both in terms of lifestyle benefits and financial security.
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