Mr Sophon Pornchokechai, CEO of the company, said today that continous survey of land prices in Phuket during the past ten years from 2003 until this year showed that land prices on the island have increased rapidly and steadily.

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Bill Barnett reports in his ThePhuketInsider.com blog that the project will be located on 150 rai of what is now empty land and coconut plantation just in Kathu, close to Tesco Lotus on the bypass, on the road leading to Patong.

The project will have upscale retail, a hotel element and a themed tourist attraction. Plans also call for a large-scale water park.

Mr Barnett says the development will cost B20 billion.

This will be The Mall Group’s second development outside Bangkok – the first was a Mall in Nakhon Ratchassima.

The group has six Malls in Greater Bangkok. The first was built in 1981 in Ratchadamri. It also owns Bangkok’s Emporium mall.

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Phuket International Airport’s new Terminal X is complete and will open to passengers on Feb 5, according to Phuket governor Maitree Inthusut.

The airport currently serves 192 flights a week, up from 170 flights in the summer of 2012. It hosts 34 airlines with regular flight schedules and another six airlines for chartered flights.

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Strong domestic and foreign demand drives residential, commercial development worth Bt50 bn
Property companies are expanding their investment to develop more than Bt50-billion worth of residential and commercial projects in Phuket this year and next, on the back of strong demand from both Thais and foreigners.

According to a survey by The Nation early this week, a number of Bangkok and Phuket developers and investors have introduced new residential projects and commercial buildings in the province.

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As the old cliché goes – property is all about location, location, location.

So here is your guide to what each area of Phuket, Thailand can offer you.

To keep it simple I’ve split Phuket into 4 zones:

North West Phuket (North of Patong)
South West Phuket (Patong and South of Patong)
North East Phuket (North of Phuket Town)
South East Phuket (Phuket Town and South of Phuket Town)

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An off-plan condo is a condominium which is offered on the market for cheap because construction has not started yet. Normally off-plan properties are offered 25% below market value or more and pricing increases over the construction period.

The benefit of buying off-plan is that you will get a cheaper price compared to buildings which are already finished this gives you a high return on investment because you can buy for cheap and make profit in the future.

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http://www.bloomberg.com/video/thailand-economy-boosted-by-chinese-tourism-54jP2N8TSmadVAxyeQjh7g.html

Bloomberg’s Stephen Engle takes us to Thailand, where the country’s economy is getting a boost from Chinese travelers eager to spend on shopping and restaurants. He speaks on Bloomberg Television’s “The Pulse.”

Source:Bloomberg

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Everyone knows that Phuket is a great holiday destination, but savvy individuals who see its investment potential have been snapping up luxury properties on the tropical island.

Phuket and Bali are often compared as ideal holiday-home destinations, coveted for their relative bang for buck and lifestyle mileage, on top of the sea, sand, and the whole tropical nine yards.

Thanks to an increasingly sophisticated infrastructure, including four big marinas, two of which cater to super-yachts, and a favourable door-to-door travel time for those based in affluent Hong Kong and Singapore, Phuket has thus far been able to maintain the edge over its Indonesian counterpart in terms of properties at the top end of the price scale, as evident with two recent phase launches of resort residences.

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Sales activity has rebounded in Phuket according to Mr. David Simister, Chairman of CB Richard Ellis (CBRE) Thailand.

CBRE tracked sales through their Phuket office and research team and note that there are more sales and active enquiries in the first quarter of the year than in 2010, signalling a recovery in the market.

Mr. Simister said at a recent conference on resort markets, “Phuket remains the pinnacle destination for second home purchases in South East Asia, with the villa market topping the charts in terms of the range of high-end developments and the prices paid.

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The range of property for sale in Phuket is staggering. From humble beginnings to ultra top-end accommodation, Phuket has developed and adapted to a ‘there’s-something-for-everyone’ market.

Rental property deals available also reflect the new-found affluence of the island with a good choice of villas and condominiums on offer. Two of the four marinas on the island also offer luxurious and striking accommodation for sale and rent.

Source:phuket.com

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