As Koh Phangan continues to develop, the real estate market on the island continues to grow. More and more beaches are getting access to the road, causing the value of nearby properties to explode. Sometimes, however, the owners are unrealistic ideas, which sometimes leads to absurdly high prices. Is there even a real estate bubble on Koh Phangan?
No! In general, prices have not increased further since 2008 - however, increases in value due to newly available infrastructure are of course reflected in the sales price. On the island there are big differences between the prices for land, which depends not only on the existing infrastructure, but above all on the existing interest in the area on the part of tourists.
Thailand Land Price 2013: Koh Phangan
south
The average highest land prices must be in Haad Rin as in Thong Nai Pan to be expected. Beach plots in Ban Tai and Bankai are also expensive, with some cheap oceanfront properties available for sale nearby. For a property with beach access in the south of the island about 10-12 million THB per Rai are to be planned. Seaview properties are available from 2,5 million, with developed oceanfront properties more likely to cost 3-5 million per Rai.
In general, there are not many top properties available in the south of Phangan, which seems plausible due to the tourist importance of the area. Due to the many parties in Haad Rin and Ban Tai, both places are popular, but from an investment point of view they are only interesting for investors anyway. For (holiday) houses, the quieter northern part of the island is more appropriate. But even for investors, Haad Rin and the south of the island seem to be currently at some risk: the Full Moon Party, the tourist draft horse for the south, seems to have passed its zenith. How Haad Rin would evolve without this mass event is hard to say.
West
Thongsala, the “capital” of Koh Phangan was the first area on Koh Phangan to be developed. Prices here have roughly doubled since 2003. Prices for beachfront land range from 5-10 million THB, while central properties are available for rai prices starting from 2 million THB.
The West is increasingly becoming a popular residential area for long-term tourists or residents. Almost the entire west coast, there are hotels, bungalows and villas in all price ranges. Due to the good development of the area and the popularity among residents and tourists are the Land prices here on average slightly higher. This concerns sea view plots near the beach or in close proximity to the coastal road. Plots further inland are many times cheaper, but often without sea view or not developed. Haad Yao, Haad Salad and Haad Maehad Currently, the most popular areas for Seaview Villas seem to be. The prices for a Rai with sea views amount to 3-6 million THB.
north
Chaloklam has been popular with long-term and long-term guests for years. There are many simple accommodations in the north of the island, but also some luxury villas. In the northern part of Koh Phangan are still a few beachfront properties for sale, which are not the most beautiful stretches of beach. The prices are in the island average. Land with sea views in Chaloklam, Haad Khom or Haad Thong Lang do not seem to have a uniform price structure. There are comparable properties for sale between 2-6 million THB for sale.
It is expected that prices in and around Chaloklam will rise in the long term. Especially larger bungalows and houses have been booked well or very well over the past few years, which means that further construction projects will follow and that land in good locations may be in short supply.
east
Thong Nai Pan, as the most well-known resort in the east of the island, has developed into a luxury beach with 5 star resorts and dream villas. Even so, the prices for Seaview properties are average and investment in this area seems very viable. Most of the other beaches on the east coast do not yet have road access, which means that cheap plots are available in good locations. Generally, however, mostly large plots with ten or more Rai are for sale on the East Coast. The land prices here are likely to increase sharply in the next few years due to the completion of road links.
Outlook
... follows in part two!
