Phuket lures Singaporean buyers

By Andrew Batt: Singaporean property buyers were snapping up holiday homes in Phuket, Thailand, during the first quarter of the year according to newly released research from Knight Frank Thailand.

Singaporeans, alongside Russians, were noted to be increasing their property buying activities on the Thai holiday island, with local buyers reported to be buying villas on the back on December's latest round of cooling measures in the city state.

Risinee Sarikaputra, Associate Director of Knight Frank's Research and Valuation Department, also noted that European property buyers had returned to the market during the first three months of 2012.

The supply of accumulated condominiums stood at 6,094 units at the end of the first quarter, while accumulated villas stood at 1,880 units.

The majority of buying interest was noted in the THB7 million (S$280,566) to THB12 million (S$480,970) segment, with the typical prices of a condo being below the THB10 million (S$400,800) threshold and a villa from above THB15 million (S$601,200).

Risinee added that many investors are now at the planning stage of their potential Phuket property investments, ready to take advantage of a number of high-profile residential and mixed-use developments which will be launched in the coming months. Related Stories:Dorsett Place, exquisiteness in the heart of Subang Jaya

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