Samui’s property industry is an emerging market in Thailand. Slowly but surely, the prices of Samui real estate is catching up with other regions in the country. This is, of course, a good sign. It suggests that more and more consumers and investors are taking a high interest in Samui’s potential to generate a sound return of investment and profits. It is also important to note that the region has managed to survive the devastating effects of the global economic crisis. Compared to other areas that were heavily affected by the economic meltdown, real estate development in Samui smoothly continued. Many projects were successfully completed.
Condominiums are pretty popular in Samui. Given its cool climate and picturesque beachfront, condo units are in so far, the best property that can be acquired in Samui. While, the demand for luxury villas never dwindled, purchasing a condominium is perceived as more practical and cost-efficient.
There are several factors that would explain the popularity of Samui condos. First and foremost, Samui condo units are cheap. There is a big difference if foreigners purchase condos in their home countries or in other parts of the world. Aside from the fact that the cost of living in entire Thailand is lower, the reason behind the low costs of Samui condominiums resulted from the healthy competition between various developers in the area. From time to time, many real estate companies seek new ways and offer juicy packages. In times wherein wise and practical decisions should be made, definitely, choosing Samui condos is one of the best moves that anyone can pursue.
Another factor that contributes to the success of Samui condos is its income-generating potential or ability. Through the years, many condo owners have realized the viability of their units to address specific needs. Nowadays, it can be observed that many are developing sound leasehold agreements. These, in return, are being marketed to many foreign travelers, who refuse to have a long-term stay in hotels. But of course, this is not solely directed to those who are in the area for tourism purposes. Condos also cater to foreign business visitors who need to stay in the country for longer periods of time.
Lastly, Thailand’s Condominium act is one of the government’s efforts in allowing foreign ownership in the country. Needless to say, Thailand implements strict policies on land and property acquisition. However, with the Condominium act, foreign investors can now have properties under their name provided that it does not exceed 49%.
Since the industry of Samui condominiums is still at its infancy, it faces numerous and countless possibilities, which, if only fully realized can bring deliver value, profit and stability.