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Phuket luxury villa transactions outperform other sectors in 1H ’09

August 2009

Despite continued restrained demand in the broader property market, Phuket luxury villa transactions hit Bt3.5bn in the first half of 2009.

According to the Phuket Luxury Villa Market Update Mid-Year Report released by leading Thailand consulting firm C9 Hotelworks, sales volumes for units priced upwards of Bt65m outperformed other sectors by significant numbers.

C9’s Managing Director Bill Barnett said supply and demand fundamentals for the high end are continuing to strengthen given that excess supply is being absorbed, while macro issues are restricting demand for new product launches.

“While market recovery prospects are being set back to 2011, there has continued to be a gradual upswing in activity, driven primarily by earlier than anticipated momentum in many of the financial source markets where potential overseas buyers originate from” Barnett said.