The Knowledge Report | July | 2008 | Phuket Tropical Residence
• OTHER AREA ON THE ISLAND
There are many residential projects developed on small islands near Phuket Island, for example, Jumeirah, which is developed on Raet Island on the eastern coast of the island, and The Village, which is developed on Maphrao Island. However, there will be a new development of residential projects on Lone Island on the eastern coast of the island.
NEW SUPPLY IN OTHER AREA ON THE ISLAND Estimated Selling
Name
Location
Taj Exotic
Lone Island
Price (THB Million) 128-384
Total Units 19
Source : Colliers International Thailand Research
DEMAND
After the tsunami of December 2004, the tourism market was a little slow in 2005. However, the property market in Phuket remained attractive among buyers and investors, with the
increasing number of tourists in 2006 and 2007 proving this.
Figure 3: The number of tourist arrivals to Phuket between 2002 and 2007 No. of Units 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0
Year 2002
2003
2004
Source : Tourism Authority of Thailand (TAT)
8
Colliers International
2005
2006
2007