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Tuesday, 28 November 2006

Movement in Koh Samui Real Estate Market

We have actually seen some movement in the real estate market over the last few days. We would normally expect to see enquiries start to build up at this time of the year prior to the Christmas season and the pleasant surprise, after the last two very quiet months, is that is what is happening. It is not just the level of enquiries that have picked up but the quality too. The people contacting us now have assessed the present situation and made a pragmatic decision that the fundamentals of the market are acceptable within their own strategy and now is the time to buy. Has any of this had an effect on prices? Not that I can see. Land owners generally do not have to sell and will sit on the land rather than sell at a price less than their expectations. The re-sale market in houses has not been affected for very much the same reason. New properties on developments have not as yet been much affected but I suspect that they could be the first as there are financial pressures on the developer to sell due to up front capital investment and I have recently seen a number begin to offer small reductions to keep the ball rolling.

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