Phuket remains high on the list for those on the lookout for a second home and business opportunities in a post-coronavirus world.
There are heavily discounted homes and even entire resorts, while one property firm has recorded a 38 per cent increase in interest from China.
Phuket remains high on the list for property buyers on the lookout for a second home in a postpandemic world, but local developers say it could take years before the hospitality and property sectors that largely rely on international visitors and buyers recover.
Nasupha Suwansri, vice-president of real estate agency IQI Phuket, a Juwai subsidiary, echoes this sentiment – partly, she said, because many properties in Phuket had to end last year with distress sales, a situation in which a proprietor has to accept a lower price.
She added that many traditional Phuket expats such as Russians or Britons had to abandon villas they had earlier purchased to let out on the island, as they had ceased to bring in revenue via holiday rentals.
Rents for a villa in Phuket usually started at 8,000 baht a night (US$254), Nasupha said, for options without an ocean view – but now they are on o!er for 900 baht a night, for mostly local holidaymakers.
Villas with an ocean view that used to be priced at 50,000 baht per night are now available for just 10,000 baht.
Read more: The South China Morning Post
Source: The South China Morning Post
