Koh Samui - Review of the year

Another year has flown by and as we enter the New Year may I wish you all the best of health and good fortune for 2010 and for the Chinese Year of the Tiger which starts on 14th February but more on that next month! 2009 is probably not an ideal year to reflect on as the world seemed to lurch from one financial crisis to another. A year ago I was talking about the new coalition government from which we hoped for great things. Whilst they have survived I am not sure we have seen any major strides forward and political disharmony still exists. Neither did anything come of the discussions at the time to extend leases from 30 years to 90 years. However the visit to Koh Samui by the Prime Minister did herald the release of funds to improve the roads and evidence of that can now be seen as the ring road is being surfaced with tarmac with the stretch from Hua Thanon through to Bophut almost complete. The picture on the left is the stretch of road between Bangkok Samui Hospital and out office. The one on the right is by The Cliff Restaurant on the way to Lamai and shows the new road lines. Much needed improvements to the drainage system are also in progress with the stretch of the ring road from Bangkok Hospital to just south of our office complete and also the section which always floods badly by the bridge next to the PTT Petrol Station also finished.

In March I first reported the signs of asking prices coming down and this has continued throughout the year and the sales that we have achieved have all been on properties where the prices have been reduced. There are buyers around but they are keenly aware that they have a lot of choice and a great deal of bargaining power. One Bangkok based agent with an office on the island (see report below) rightly says that there has been a slight increase in demand in the last quarter of the year but closing deals has been very difficult and time consuming.


The series of Jazz Concerts organised by Asiam Travel have been a great success and all well attended from the first three at the airport and then at Amari Palm Reef, Kandaburi and the last one at Chaweng Paradise Beach resort. There is no concert in January but the there will be one in February, brief details below and more information in next months Newsletter.


And property prices here continue to fall! If you check our web site and look at the Hot Press Offers you will see a great number of properties with prices that have been reduced from between 15% and 50% with an average reduction this month of 32%. These reductions are now beginning to produce sales and, although still not many, there are a few more buyers around than there were a few weeks ago. NEW REDUCTIONS EVERY MONTH!
See in particular the following properties – CTRL + click to follow the link:


Luxurious 5 Bed Villa with pool in tropical garden in Lipa Noi – originally Baht 53 million
Now available at - Baht 30 million




2 Bed house in Santi Thani – originally Baht 5.95 million
Now available at - Baht 2.95 million






3 Bedroom Luxury Villa with pool between Bangrak and Chaweng – originally Baht 49.5 million
Now available at - Baht 32 million




To receive the full version of the monthly Newsletter, please email hbonning@kosamuiproperties.com