{"id":10950,"date":"2021-02-09T11:27:49","date_gmt":"2021-02-09T04:27:49","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=10950"},"modified":"2021-06-04T15:59:41","modified_gmt":"2021-06-04T08:59:41","slug":"phukets-mega-villa-property-sector-upswings-by-multi-millions-during-covid-19","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/phukets-mega-villa-property-sector-upswings-by-multi-millions-during-covid-19\/","title":{"rendered":"Phuket\u2019s mega-villa property sector upswings by multi-millions during COVID-19"},"content":{"rendered":"<p><span data-contrast=\"none\">High-net worth individuals from Bangkok, Hong Kong, and Singapore\u00a0spark further optimism for Phuket\u2019s luxury property market<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_10952\" aria-describedby=\"caption-attachment-10952\" style=\"width: 1165px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-10952\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/Avadina-Hills-by-Anantara_Drone_01-1-1.jpg\" alt=\"\" width=\"1165\" height=\"874\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/Avadina-Hills-by-Anantara_Drone_01-1-1.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/Avadina-Hills-by-Anantara_Drone_01-1-1.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/Avadina-Hills-by-Anantara_Drone_01-1-1.jpg 620w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/Avadina-Hills-by-Anantara_Drone_01-1-1.jpg 190w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/Avadina-Hills-by-Anantara_Drone_01-1-1.jpg 1165w\" sizes=\"(max-width: 1165px) 100vw, 1165px\" \/><figcaption id=\"caption-attachment-10952\" class=\"wp-caption-text\">Avadina\u00a0Hills by Anantara triumphed the Best Luxury Housing Development (Phuket) and Best Housing Development (Thailand) awards at the 2019 PropertyGuru\u00a0Thailand Property Awards. Image source: Anantara<\/figcaption><\/figure>\n<p><span data-contrast=\"none\">According to new market research from Thailand consulting group <a href=\"https:\/\/www.c9hotelworks.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">C9\u00a0<\/a><\/span><span data-contrast=\"none\">Hotelworks<\/span><span data-contrast=\"none\">, Thai buyers who sought refuge during the pandemic have reignited Phuket\u2019s mega-villa property sector by multi-millions<\/span><span data-contrast=\"none\">, with over THB5 billion (USD167 million) in primary\u00a0<\/span><span data-contrast=\"none\">and<\/span><span data-contrast=\"none\">\u00a0secondary high-end properties transacted.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">In spite of<\/span><span data-contrast=\"none\"> the flat trading levels in the broader marketplace, transactions in top tier real estate reached their peak in five years in 2020. Wealthy Thais<\/span><span data-contrast=\"none\">,\u00a0<\/span><span data-contrast=\"none\">unable to travel\u00a0<\/span><span data-contrast=\"none\">and exhausted by air pollution in Bangkok<\/span><span data-contrast=\"none\">,\u00a0<\/span><span data-contrast=\"none\">were\u00a0<\/span><span data-contrast=\"none\">drawn to expansive tropical island mansions with four or more bedrooms. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Bill Barnett, C9\u2018s Managing Director<\/span><span data-contrast=\"none\">\u00a0and 2020 judge for the\u00a0<\/span><span data-contrast=\"none\">PropertyGuru<\/span><span data-contrast=\"none\">\u00a0Asia Property Awards (Greater Niseko),<\/span><span data-contrast=\"none\">\u00a0said, \u201ccountry living and estate villas in the age of pandemic are a strong reaction driven by both internal and external factors. Thailand&#8217;s wealthy have been effectively stranded in the\u00a0<\/span><span data-contrast=\"none\">country<\/span><span data-contrast=\"none\">\u00a0for nearly a year and the impact has seen them\u00a0<\/span><span data-contrast=\"none\">revisiting<\/span><span data-contrast=\"none\">\u00a0and falling in love with Phuket.&#8221;<\/span><\/p>\n<p><span data-contrast=\"none\">&#8220;Resort real estate remains an emotional\u00a0<\/span><span data-contrast=\"none\">proposition<\/span><span data-contrast=\"none\">\u00a0and t<\/span><span data-contrast=\"none\">his is a contributing factor in reigniting luxury property sales.\u201d\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">When looking at Phuket\u2019s real estate, there is more to it than just the Thai segment. In the primary market, there\u2019s off plan and completed properties, while secondary or resales market has experienced major discount<\/span><span data-contrast=\"none\">ing<\/span><span data-contrast=\"none\">\u00a0of large villas to foreign buyers.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Millionaires Mile in Kamala, Layan, and Nai Thon beach, which are all on the West Coast of the island, are <\/span><span data-contrast=\"none\">favourites<\/span><span data-contrast=\"none\">\u00a0in these mega-villa trades. Whereas on the East Coast, Cape\u00a0<\/span><span data-contrast=\"none\">Yamu<\/span><span data-contrast=\"none\">\u00a0maintains its strong performance with the new Headland\u00a0<\/span><span data-contrast=\"none\">project<\/span><span data-contrast=\"none\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Proximity has been identified as a key to success, and there is often<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">one degree of separation between buyers in mega-villa estates.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">\u201cOne of the most successful twinning of projects last year has been the ultra-luxury Layan Residences by Anantara and <\/span><span data-contrast=\"none\">Avadina<\/span><span data-contrast=\"none\">\u00a0Hills by Anantara. The synergy of having a hospitality overlay and hotel-style management to the developments has helped enormously,\u201d\u00a0<\/span><span data-contrast=\"none\">Barnett\u00a0<\/span><span data-contrast=\"none\">added.\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\"><a href=\"https:\/\/www.asiapropertyawards.com\/en\/phuket-hotels-begin-prepping-for-potential-tourists-as-thai-government-discusses-travel-bubble-plans\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Phuket hotels begin prepping for potential tourists as Thai government discusses \u2018travel bubble\u2019 plans<\/strong><\/a>\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Avadina<\/span><span data-contrast=\"none\">\u00a0Hills by Anantara also recently triumphed the Best Luxury Housing Development (Phuket) and Best Housing Development (Thailand) awards at the 14<\/span><span data-contrast=\"none\">th<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">PropertyGuru<\/span><span data-contrast=\"none\">\u00a0Thailand Property Awards.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Foreseeing Phuket\u2019s luxury property market in 2021, Barnett expresses optimism for primary residences. \u201cWe are seeing considerable <\/span><span data-contrast=\"none\">interest<\/span><span data-contrast=\"none\"> from Bangkok high-net-worth<\/span><span data-contrast=\"none\">\u00a0individual<\/span><span data-contrast=\"none\">s and key regional capitals like Hong Kong and Singapore who are drawn to the island by clean air and space, quality international schools,\u00a0<\/span><span data-contrast=\"none\">and<\/span><span data-contrast=\"none\">\u00a0strong support infrastructure.\u201d\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">He added, \u201cwe are on the cusp of seeing a series of new inland integrated communities such as Tri Vananda in Thalang come on stream and this is expected to shift a larger slice of demand towards luxury single-family homes. COVID-19 has refocused an entire <\/span><span data-contrast=\"none\">generation<\/span><span data-contrast=\"none\">\u00a0on the value of work-life\u00a0<\/span><span data-contrast=\"none\">balance<\/span><span data-contrast=\"none\">\u00a0and proven work from home is a viable ongoing alternative.<\/span><span data-contrast=\"none\">\u201d\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>High-net worth individuals from Bangkok, Hong Kong, and Singapore\u00a0spark further optimism for Phuket\u2019s luxury property market\u00a0<\/p>\n","protected":false},"author":12,"featured_media":20994,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[701,1088,244,133],"class_list":["post-10950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-luxury-property","tag-mega-villas","tag-phuket","tag-thailand","news_country-thailand","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Phuket\u2019s mega-villa property sector upswings by multi-millions during COVID-19 | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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