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Tuesday, 2 March 2010

Koh Samui Properties Blog No 66 March 2010

Uncle Bill was a Yorkshire farmer of the old school and I spent many a happy school summer holiday on the farm, getting in the way and pretending to help where I could! He had a good herd of cows – or beasts – as he called them for milking twice a day, a large flock of sheep with lambing in the dark winter nights and which were then dipped and sheared in the Spring and whilst they brought in a harvester to cut the Barley or Wheat, he still used a huge scythe to keep the grass down. The hens were completely free range and collecting the eggs involved climbing into haystacks and under hedges. The geese however were not to be trifled with and as a six year old were pretty scary. No electricity in those days so we went to bed with candles and a “visit” was to the outside privy at the bottom of the garden with a torn up copy of the Yorkshire Post! Uncle Bill was the first person to introduce me to that well known phrase – “There’s nowt so queer as folk!”

The purpose behind that introduction is basically because it is a phrase that has popped into my head on more than one occasion over the last few months. Our principal marketing tool is our web site and the vast majority of enquiries we receive originate from there. It usually starts with a brief email asking for further details of a particular property and as we enter into a dialogue we begin to understand better what they are looking for. Having said that we never really understand – and neither do they – what they really want until we sit in the car with them and can tell by their reaction to a particular property what turns a customer on or off. However, the point is that having established by email what they would like to see and when they will be here and appointments made – that is the last we hear of them! Even when we know where they are staying and leave messages at the hotel – nothing! And then there are those people who do turn up and spend a couple of days seriously looking at houses, identify their dream home, meet with the owner, agree terms, meet with the lawyers and then after they have gone never communicate again. Over the years we have learned to distinguish serious buyers from “brick kickers” although never discount the latter who may be next years serious buyer. However, I still find it strange in these days of easy communication that some people find it difficult to simply say “Thanks but no thanks!” As Uncle Bill said “There’s nowt so queer as folk!”

There is a statistical war breaking out between two of the major international real estate companies with one claiming that residential prices in Thailand have fallen by 18% whilst another claims prices have risen by 5.4%. Reading the reports it seems they are not comparing like with like. I have reported month on month the decline in asking prices here in Koh Samui and it is the properties that have made that adjustment that have been selling. The Bangkok market is clearly different and generalized comments are not helpful. Make your own mind up and you can read the two reports here:
CBRE Richard Ellis and Knight Frank Global House Price Index .

Social Marketing is the buzz word to day and whether we like it or not you have to play along to stay in the game. To this end Ko Samui Properties can be found on Face Book and Twitter . Sign up to receive up to the date news on the market in Koh Samui including all the price reductions!

Going through and updating my contact list for Koh Samui agents and developers this month I found that I had to delete 21 companies. Of the ones that appear to be left, at least by their web presence, I was surprised to see properties still being offered which I know were sold months if not years ago. It is a continuing battle to keep the web site correct and up to date and we try and contact all owners on a regular basis to ensure the property is still available and correctly priced. We are not perfect and once in a while we can get caught out with recent sales, but not with regard to properties sold months ago!

Asking prices for land have remained pretty static and, until now, not fallen in the same way as house prices. However in the last month we have seen sellers start to drop their prices with reductions of between 20% and 27%.

More and more people are recognizing that there has been a significant market adjustment over the last 12-18 months. Each week we get instructions to reduce asking prices to levels more appropriate to the prevailing market conditions and you can find these on our web site at the Hot Press Offers . You will see a great number of properties with prices that have been reduced from between 17% and 37% with an average reduction this month of 34%. These reductions are producing sales and, although still not many, there are a few more buyers around than there were a few weeks ago.

See in particular the following properties – CTRL + click to follow the link:
4 Bedroom Ocean front House in Ban Tai – Baht 150,000,000 Now available at - Baht 99 million

3 Bedroom villa in Bang Po with apartment – Baht 7,900,000 Now available at - Baht 5,500,000

Luxury 7 Bedroom Beach Front Villa with guest villas and apartments - Baht 275 million Now available at Baht 220,000,000

We are also please to confirm that we have been invited to offer
The Residences at W Koh Samui

A development of high quality villas adjoining the Starwood operated W Hotel in Maenam with spectacular ocean views towards Koh Phangan. Finished to the highest specification offering the discerning buyer the best in tropical living with the services of a five star hotel. Contact us for further details

To receive the full monthly Newsletter from Ko Samui Properties please email me at


samui villa said...

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Luxury Hotel in Philippines said...

It is a continuing battle to keep the web site correct and up to date and we try and contact all owners on a regular basis to ensure the property is still available and correctly priced.

Koh Samui Luxury Property for Sale said...

The Villas in Samui are beautifully designed for the visitors and also gives more privacy than other hotels. These villas are great place for new honeymoon couples who want privacy.

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Steev Raut said...

When you are visiting Koh Samui then Koh Samui luxury villas are best to stay during holidays, and then I am sure you have no need to worry about living because these villas are affordable and safe. Even I heard that Koh Samui villas for sale are also available.