Kata Beach Headland
Knight Frank LLP, a London-based global property consultancy, apprehends that Phuket condominium developments will blossom in Kata and Karon beach. Knight Frank Thailand’s research indicated that this shift to the Southwestern area of the island would account for 59 per cent of the property growth.
Nattaha Kahapana, the director of Knight Frank Phuket, believes that this shift in location on the island is due to the large influx of foreign buyers. While in the past Phuket’s buyers have been British, German, and Scandinavian passport holders, the early morning flights from Phuket to Hong Kong and Singapore has made this location accessible for expatriates working abroad. The emerging market is also attributed to Russian and Middle Eastern buyers, which demonstrates how Phuket is becoming an international hub.
Due to its sizzling nightlife, research has indicated that the target group of buyers prefers Patong beach. Yet, the abundant land availability and affordable prices in Kata give way to the development of condominiums in this new, growing market.
Kahapana’s research also indicates a shift in guest demographic. New vacation-goers are leaving the family behind to travel to Phuket as either a couple or group of friends for only four to five days. Thus, the preferable unit type are studios and one-bedrooms which are accounting for 70 per cent and 18 per cent respectively of the demand.
Article courtesy Property Report South East Asia
