As the real estate market in Bangkok has been experiencing a decline over the past couple of years, the renowned Seacon Group are planning to launch 3 new projects in Phuket worth 10 billion THB, with a goal of achieving 5 percent sales growth over the next year, which is great news for the Phuket property sector.
The group have recently predicted that the demand for homes in Phuket will grow by 15-20 percent annually over the next 3 years, which will be driven by new Russian customers and returning European clientele, as the island recovers from its lowest point amidst the world financial collapse in 2008.
Over the past 12 months, the Seacon Group has stated that there has been a significant return of traditional European buyers for Phuket real estate, with the Brits being at the top of the list, who had almost stopped purchasing the island’s properties around 2010, but are now returning in their droves.
The group has mentioned that it expects foreign buyers to hit the 8-billion THB mark this year, which really is great news across the board.
