According to CBRE's latest Phuket Residential Report for H2 2018, there were 546 condominiums units and 63 villas were sold in H2 2018, a decrease of 13% Y-o-Y and an increase of 21% Y-o-Y, respectively.

"Property sales remained concentrated in investment-oriented or income-producing products for both villa and resort condominiums. Investors preferred resort condominiums because of the cheaper total price and rental management schemes. At least 80% of condominium units sold were in projects with rental guarantees and  total prices of less than THB 8 million," says CBRE.

"In the past, most condominium buyers have been foreigners from China, Hong Kong, Singapore and Russians. The decline of Chinese tourist arrivals had not yet significantly impacted condominium sales as of H2 2018, with hopeful signs of recovery as December Chinese arrival figures increased by 2.8% Y-o-Y, despite 4 previous months of negative Y-o-Y arrival figures. Hotel-branded residential developments will continue to be preferred by purchasers who are increasingly demanding professional management to oversee their rental and guarantee schemes."

Phuket Villas At a Glance:

• A total of 63 villas were sold in H2 2018, increasing by 21% Y-o-Y.

• New property sales were dominated by investors who wanted rental income and were looking for lower-end villas priced below THB 35 million, which accounted for 92% of the total villa sold in H2 2018.

• The upper-end market (THB 35 million and above) continued to move at a slow pace with only one Luxury villa sold and four high-end villas sold.

• Five villa projects were launched in the second half of the year, all of which belonged to the lower-end segment with prices below THB 35 million 

Condos & Apartments At a Glance

• A total of around 550 condominium units were sold in H2 2018, decreasing by -13.7% Y-o-Y.

• 80% of the condominium sold in the second half of 2018 were investment-oriented products that offered some form of rental management or yield guarantee.

• Buyers at all price level want potential rental income for property they only use less than 60 days per year.

• Two new projects resort condominium projects were launched in H1 2018: VIP Kata Condominium Phase 1 and Wyndham Naiharn Beach. Most units are priced below THB 8 million.

Click here to download the CBRE Phuket Residential MarketView H2 2018 Report

Source: CBRE

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