Foreign demand in Phuket, Hua Hin shows signs of life
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Ms Kraus and the E&V management team are seeing improvement in the market but they say buyers of off-plan projects remain wary.
Foreign demand for real estate in Phuket and Hua Hin is recovering, says Duangjai Kraus, executive chairman of the property broker Double 8 Realty Co, Ltd,
Most inquiries are coming from potential buyers in Europe, said the master licence partner of Engel & Volkers Asia-Pacific Ltd, a Germany-based broker.
Sentiment in Phuket started to improve last month with the beginning of the peak tourist season, she said. Most customers are Scandinavian, British and Russian.
"They [foreign buyers] were back. They e-mailed us last month and asked about rental villas and residents for sale. But they prefer resale units, in which they had more confidence than off-plan projects."
Property developers and investors are also becoming increasingly active and showing interest in buying large plots on beachfront land for developing high-end villas, hotels and resorts in Phuket and Hua Hin, she said.
