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September 2, 2010
BIS Headmaster Dr George A Hickman (left) receives the
award from PM Abhisit Vejjajiva.
The British International School Phuket (BIS) has triumphed as the “Best Provider of International Education for 2010” in the Prime Minister’s Export Awards.
Collecting the prize in person from PM Abhisit Vejjajiva at Government House in Bangkok last week was BIS Headmaster Dr George Hickman.
In a recent school newsletter, Dr Hickman explained that the award follows hot on the heels of BIS recording its best International Baccalaureate (IB) examination results in the school’s 14-year history.
“Our IB Class of 2009 produced an overall set of final scores which exceeded the world average, and this outstanding achievement is something of which students, parents and teachers can be justly proud,” said Dr Hickman.
“It is also noteworthy that the SAT scores in our primary school showed marked improvement this year, which is another indicator of our continuing commitment to excellence in the development and delivery of an educational program which is second-to-none anywhere,” he added.
Source: Phuket Gazette
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September 1, 2010
In line with the global economic recovery, also the market of Phuket property for sale has shown signs of improvement, according to a new research. If there is no political turmoil, the market should continue to improve, the research also revealed.
Although the market was slow in the second quarter due to the political situation, the supply of new developments was limited. Therefore, the affect it had on the market was limited as well. However, foreign investors interested in Phuket real estate have started making more inquiries for properties for sale in Phuket during the past two months.
Phuket villas
Most Phuket villas are not pre-built. Therefore, the chance of oversupply in the market is reduced. The research noted that prices of villas for sale in Phuket dropped with 14% in the first quarter - from an average selling price of 59 million Baht (1.89 million USD) during the previous year to 50.3 million Baht (1.6 million USD). That was also for a big part as a result of the political uncertainty which forced villa owners to reduce their prices to attract buyers.
Phuket condominiums
In terms of Phuket condominiums for sale, the supply during the first quarter of 2010 was at 4,686 units, which is only 65 units up from the end of last year. New projects were small developments with one- and two-bedroom units, while the average selling prices were slightly increased from 88,885 Baht (2,841 USD) per sqm to 89,113 Thb (2,849 USD) per sqm.
This price increase does not sound reasonable when compared to the slowdown in the Phuket property market. However, the survey found that there were a number of condo transactions from time to time. This seems to confirm that the market of condominiums for sale in Phuket is in a better shape that the villa market.
Political stability will help regain investors’ and buyers’ confidence. Not only for Phuket, but for Thailand as a whole. Moreover, the local economies of Phuket’s main buyers of property in Phuket, such as Singapore, Australia, Germany, Switzerland, England and Russia, are on the rise.
This allows buyers in those countries to feel more confident about buying property in world famous tourist destinations such as a holiday home in Phuket. In addition, increases in direct flights to Phuket, as well as an expansion of Phuket International Airport, which is scheduled for completion in 2013, are added positive factors.
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August 27, 2010
Foreign investors find Phuket a lucrative spot in which to do business due to its international appeal as a beach destination, its eye-catching natural beauty and year-round tropical climate, says Allan Zeman, owner of the five-star Andara Resort & Villas which opened on the island earlier this year.
Zeman, a property developer with over four decades of experience, noted that Phuket, unlike Bangkok, hasn’t experienced any major political instability which would discourage tourists.
He told the Bangkok Post yesterday that, “Apart from the aforementioned reasons, I decided to invest in a resort and mall business in Phuket because I’ve been a regular visitor for the past 30 years.
“Phuket is like a second home to me and I find the local people friendly and charming. The island has much to offer in terms of culture, history and food. It’ll remain a hotbed for sustainable tourism growth for years to come.”
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August 20, 2010
Some properties on Phuket have been sold at increased prices in the belief that the island-wide 80-metre limit on building will expire on September 30, the head of Phuket’s Natural Resources and Environment Department has revealed.
However, regulations from October 1 will retain the limit on building above 80 meters on Phuket. The regulations are subject to review every two years.
And in a change that will tighten the property industry on Phuket, the new regulations are expected to oblige all consultants to register and be tested before being licensed to apply environmental assessments and impact studies.
Real estate speculators are inclined to believe that once the pressure on land below 80 meters produces price rises that make sales prohibitive, the limit, imposed to protect Phuket’s natural environment, could be lifted to 100 meters or 120 meters, or be removed entirely.
The head of Phuket’s Natural Resources and Environment Department says the 80-metre limit is unlikely to ever be lifted.
This will keep the availability of ocean view land in Phuket to build on extremely limited. As a result, prices for these prime land plots or already existing properties on such exclusive locations will not come under pressure for the foreseeable future. On the contrary; the shortage of these prime spots will only assure that the value of ocean view villas in Phuket for sale will only continue to rise.
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August 17, 2010
Prices of prime Phuket property are amongst the cheapest of the world’s most popular international homes market according to a new report.
The International Residential Report published by Chesterton Humberts discovered the price of new homes for sale in Phuket were 3,500 Euro (4,460 USD) per sqm. Prices for similar homes in Singapore were recorded at 16,200 Euro (20,650 USD), and at 19,500 Euro (24,850 USD) in Hong Kong. Monaco remains the world’s most expensive location for property, with prices for a second hand home coming it at 45,000 Euro (57,350 USD) per sqm.
The report also said that while the Asia Pacific region is largely maintaining healthy growth rates with China and India leading the way, the road to recovery remains bumpy in Europe and North America – a scenario that is broadly mirrored in the respective residential property markets.
It also noted the millionaire population is rising fastest in the Far East – with Singapore, Malaysia and China all recording growth of 35 per cent, 33 per cent and 31 per cent respectively.
The report went on to conclude that several Asian markets, like China and Singapore for example, are already exhibiting signs of overheating. If another bubble is developing, this would indicate a worryingly short cycle from trough to peak and back again although both the Chinese and Singaporean governments have taken decisive action to head off such an occurrence through a combination of restrictions on purchases, tax penalties and increased public land sales.
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August 16, 2010
The Phuket Natural Resources and Environmental office has confirmed that tighter controls on building on hillside land in Phuket came into force on July 31, some two months earlier than expected.
“After we receive an official letter from the Department of Natural Resources and Environment Policy and Planning Division in Bangkok, we will immediately send letters informing related organizations to recognize the new regulations,” an officer said.
The new regulations, gazetted on July 30 and brought into effect July 31, impose tougher measures aimed at constraining hillside development and ensuring that all new developments have at least the minimum mandated “green areas” reserved with no structures built upon them.
Construction projects now must follow the new regulations. However, the new rules will not affect applications that have already been submitted and are currently being processed. The Phuket Natural Resources and Environmental office receives about 30 building applications each month.
The new rules allow structures to be built on gradients of up 50%, compared with 35% under the previous rules, but with a slew of tougher new conditions.
Structures on hillsides with gradients from zero to 20% are limited to eight meters in height, while those on gradients of 20% to 50% are limited is six meters.
Also, buildings on gradients between 20% and 35% must leave at least 70% of the total property area as “open space”.
Buildings on gradients more than 35% must leave at least 75% of the total property area as “open space”, with at least half of the open space area maintained as a “green area”.
Regarding the size of the structures to be built, buildings on slopes of 20% to 35% gradient cannot be larger than 90 square meters and the area of the land must be at least 400 square meters.
Buildings on gradients of 35% to 50% must not be larger than 80sqm in size and the land area must be at least 480 square meters.
While the above rules apply generally, building applications may also subject to additional requirements, notably depending on in which “zone” the plot is in and how far it is from the high-tide mark.
The Royal Thai Government Gazette of July 30 has a full list of all the requirements and conditions that now apply.
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August 13, 2010
The number of people arriving and departing through Phuket International Airport shows a marked year-on-year increase for July, with total passenger numbers up by 17.47 percent.
International travelers led the way, increasing to 224,361 arrivals and departures, up 47.15 percent. The total jumped above the half-million mark, to 507,698. Domestic travel, though, was virtually static, improving a mere 1.29 percent.
Based on these figures and what’s being said by tourism industry leaders, tourists appear to be ignoring national travel warnings and the prospect of a renewal of violence in Bangkok.
Direct flights to Phuket is one advantage that the southern resort capital has over other destinations within Thailand that require travel through Bangkok.
 
Total in-bound and out-bound flights through Phuket rose by 29.71 percent year-on-year in July, with international trips jumping by 34.65 percent. Flights in and out amounted to 3763.
Steady increases are also reflected in the comparison between the period October-July 2009-2010 and October-July 2008-2009. Total passenger numbers are up by 25.90, with the international element increasing by 36.42 percent.
Total arrivals and departures through Phuket reached 5,768,200 in this latest period. Cargo tonnage has also increased by 50.87 percent.
More good news can be expected: last August marked a turnaround in a slide in numbers that extended back to October 2008. This August is expected to continue the 2010 recovery.
Phuket’s number-crunchers are anticipating continued growth in tourist numbers towards the 2010-2011high season, although some resorts have cut room rates to win back market share.
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June 16, 2010
Q4 2009 saw a continued recovery in the Phuket property market. Sales of resort property improved but were still at low levels and mainly concentrated in a limited number of projects.
The level of built but unsold inventory of completed condominium and villa units is low.
Prices for built property have remained relatively stable with few examples of forced sale situations.
Purchasers are cautious and are focusing on projects promoted by known developers where there has been visible construction progress. We believe that demand is recovering.
The total supply of completed resort condominiums was 2,681 units at the end of Q4, an increase of 9% Q-o-Q and 30% Y-o-Y. Five Condominium projects were completed in this quarter. The single unit type that accounts for the largest proportion of Phuket’s completed condominium supply are two-bedroom units in entry-level projects.
No new condominium projects were launched in Q4 2009.
We estimate that 13% of completed resort condominiums have not been sold.
During Q4 2009, the average asking price of condominiums being marketed was THB 86,755/m2.
Villa
The total supply of completed villa projects was 3,472 at the end of Q4. There were 13 villa projects completed in this quarter.
As expected, completed units have the highest sales performance, with 76% sold. 58% of villas in projects under construction have been sold. We estimate that there are 372 units that are under construction still available for sales.
The average asking price of luxury villas being marketed was THB 124,110,000.
Outlook
Overall Phuket has come through the combination of the global financial crisis and Thailand’s political problems relatively unscathed.
The opportunity and challenge is for developers to identify target markets and create properties that match those requirements. Potential buyers will be more cautious and will want to be confident about ability of developers to deliver product both in terms of their financial resources and development expertise Phuket Villa Sales - Read full report
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June 11, 2010
The Thai market has historically shown it can weather crises without damage to investors.
The ‘Red Shirt Protests’ that turned parts of Bangkok’s shopping and financial district into a barricaded fortress for more than 2 months is unlikely to lead to dramatic drops in property values, although some people have deferred buying decisions for the time being, reveals a study by a company well known for its research.
The reason is because the property market has been dampened by political uncertainty for the last five years.
Those who have followed the pattern of property values during periods of political uncertainty in Thailand will have noticed that prices rise in good times but hold and do not drop in bad times, with steady growth again after the situation improves.
One exception was real estate prices did drop dramatically during the 1997-98 Asian economic crisis, when real estate prices did drop dramatically. But it has to be explained that these plunges took place among secondary grade properties and not prime ones, whose values held up.
The impact of the recent protests, in the opinion of most people living in Thailand, both Thai and foreigners, will be short-lived
So all in all we are still seeing substantial confidence in the Thai property market.
Turning to the resort markets, the study shows that there was no evidence of a drop in value in Phuket and Koh Samui as existing foreign owners of property on the two islands are choosing to hold on to their assets.
The fundamentals of the resort markets are that they are predominantly foreign markets with purchases made with surplus funds. Since there is no financing available to foreigners to buy property, almost all purchases are 100% cash.
Looking at Phuket, most of the buyers are sitting on positive financial gains on their investment and there is no direct pressure to sell. So generally speaking, people only sell when they have made substantial profit. This means there is generally little stock on the market at any one time.
In fact, it has been the global financial crisis that has had the prime influence on the resort markets and this has led to the cancellation of many developments. While big Thai companies have launched major projects in Phuket in recent years, quite a lot of the developments have been foreign-led, although some of these projects have been quite small.
From our experience we have seen a reduced volume of sales but prices are still recording substantial gains for those few sellers in the market.
Despite the recent problems, Thailand is still a top resort destination. And although good prospects in emerging markets such as Cambodia have been reported over the past couple of years, there is no stock of quality resort properties there today.
To see the full report, click here.
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While Thailand’s tourism recovers from political demonstrations in the capital Bangkok and some northern provinces, which saw governments advising their citizens not to travel to Thailand, the paradise island of Phuket, 900 km south of Bangkok, has received a major accolade. Phuket was voted ‘Best Asian Maritime Capital’ in the annual Asian Boating Awards 2010 hosted by luxury magazine Asia-Pacific Boating.
Yachting, whether sailing or power boating, is one of Phuket’s best-kept secrets. But probably not for much longer as word of this magical cruising area spreads. Compared to more established yachting destinations in other parts of the world, the waters and small islands around Phuket are unspoiled and little traveled. Deserted beaches and otherwise inaccessible ‘treasures’ await those who explore by sea.
MyPhuketInfo.com supports Phuket’s high value/low impact yachting tourism with page after page of detailed information and images on every aspect of boating holidays in Phuket, including day trips, sailing yacht charters, speed boat tours, sport fishing and yachting events.
Demonstrating the resilience of this branch of tourism, all the while tourists were shying away from Thailand, fearful of becoming embroiled in the protests, the Top of the Gulf Regatta went ahead in Pattaya, while the Koh Samui Regatta maintained similar entries to last year and interest in Phuket’s own forthcoming Six Senses Phuket Raceweek was gathering pace.
As Phuket’s local travel guide, MyPhuketInfo.com is an invaluable source of independent information on the growing number of charter boats plying Phang Nga Bay just off the north of Phuket, as well as the countless pristine islands and beaches to the south. Each year, the number and quality of boats available for charter - many of them built in Phuket itself - expands, with operators departing from all points on the island.
For the adventurous traveler who wants an escape from the hustle and bustle of Phuket’s major tourist beaches, there is nothing to beat taking to the water in search of Greater Phuket’s real paradise.
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