Over the past 10 years, Phuket’s property market has remained fluid and resilient in spite of the recent global crisis. Buyers have certainly benefitted and developers have seen the advantage of offering prices that will meet the budget of overseas investors. While there is still demand for large high quality Phuket Villas, developers have started building “boutique villa” communities on smaller land plots. These small Phuket Villas usually consist of 4 to 12 units with prices ranging from 8 million to 15 million baht.
Why is there a sudden demand for smaller Phuket Villas?
Because of the global economic crisis, buyers have reduced their budgets and while they are prepared to take risks they are only willing to invest a small capital in view of the crisis. In addition, the prices of properties of Phuket have increased substantially as well as building costs.
Developers have recognized the needs of buyers that is why they are offering two or three-bedroom private villas with a swimming pool and located in a secure and pleasant community near the beach. Buyers gain exceptional value for their money because when they own a property in Thailand, it can be easily rented out for a short term or long term period with good rental rates.
For example a three-bedroom villa with a swimming pool in Rawai and constructed with a terrace and an easy to care garden will promise unlimited enjoyment for years. There are villas with double carports, laundry/storage room and open-plan living area with a full Western kitchen featuring gorgeous wooden cabinetry, breakfast and bar and built-in stainless steel appliances. From the pool terrace, a nice landscape is within view with a pool that is perfect for relaxing.
An advantage is the view of mountains with trees peeking over the security fence. A three-bedroom apartment that is priced at 9.6 million baht usually has pool access with the master bedroom featuring an en-suite bathroom. The other two bedrooms will share the second bathroom. Built-in cabinets are present including fans and air conditioners with a dining terrace that completes a pretty picture. This is type of private villa that will generate a steady income when necessary.