Koh Phangan is developing rapidly, which of course has an impact on the island real estate market. Although, as in the ersten Teil As stated in the article, prices have largely stagnated since the onset of the global economic crisis in 2008, but how will prices for land on Koh Phangan develop in the future? Predicting this is difficult, especially since the entire market is hard to grasp.
Although it is possible to give information what a Property average cost in a particular location, however, this information is not always accurate. A lot of land on Koh Phangan is still owned by local families. Some of these families are in no hurry to sell this land and therefore set relatively high prices. Other families, in turn, use their plots of land similar to an emergency reserve, which can result in land plots being suddenly available as a result of an emergency. Other landowners expect a further increase in visitor numbers on Koh Phangan and set an extremely high price. In general, pricing of 2-5 million THB per Rai with sea view and 6-12 million per Rai with beach access is probably advisable. Details can be found in Part 1.
Development of Koh Phangan and impact on land prices
The Development of Koh Phangan progresses and it is expected to continue with increasing numbers of visitors. An airport is still in the planning stages, and while none of the plans for a Koh Phangan Airport have been fully implemented so far, this does show the potential that investors on the island seem to be seeing.
On the other hand, Europe continues to be in crisis, which is likely to affect both travel behavior and the willingness of Europeans to invest abroad. Another aspect that should not be neglected is a stronger baht facing the weakening euro. In addition, the reputation of the most famous event on the island, the Fullmoon party increasingly worse and a harder attack to counteract this, should be very unlikely.
On the basis of these key figures, it should be assumed that land prices will generally stagnate at the current level for some time to come. However, this does not take into account the progressive integration of the ASEAN countries.
AEC 2015 and the impact on Koh Phangan
AEC 2015, the ASEAN Economic Community 2015 will unite the ten Southeast Asian countries of Thailand, Myanmar, Laos, Vietnam, Malaysia, Singapore, Indonesia, the Philippines, Cambodia and Brunei. The AEC heralds a new economic era for Southeast Asia, with major changes for the countries' economies.
In terms of the real estate sector, this means that companies and individuals of the participating countries may invest in the other countries without the existing restrictions. While it can be expected that Thailand will be struggling in many ways as a result of the new competition, the touristically important country is likely to attract investors very successfully.
But to what extent will this also affect Koh Phangan? Ultimately, of course, this has to be awaited, but in general it can be assumed that the land prices on Koh Phangan will increase. As one of the top destinations in the Gulf of Thailand and in close proximity to the international airport on Koh Samui, investors are likely to have already set their sights on Koh Phangan as a future cash cow ...
