This article on Samui and the island’s property market comes to Dot Property Group from some of the island’s real estate agents: Lazudi, SunWay Samui and Horizon Homes.
Sometimes bigger isn’t always better. Look no further than the pristine island of Koh Samui for proof of that. Its smaller size has allowed it to retain a quaint charm and lifestyle people love. And you are never far from an excellent beach. This also helps make Samui unique from a real estate perspective.
Its property market is smaller than both Pattaya and Phuket, which makes it a very attractive destination for some buyers. That’s because the island’s size means projects here are generally lower in density and most of them are within a short distance to some of the best beaches in Thailand.
And while lifestyle amenities, such as Fisherman’s Village and CentralFestival Samui, have been built up over time, there hasn’t necessarily been an influx of mass residential development alongside this. The end result is a place that is both modern and boutique.
We spoke to Alex Ambrosov, Managing Director of SunWay Samui, about this phenomenon and here’s what he had to say, “Koh Samui is very unique and different from other destinations in Thailand. It lacks large developments and condominiums, but it absolutely has the best sea views and reasonably priced sea view villas when compared to Phuket or elsewhere in Thailand and Southeast Asia.
He continued, “It also has well-developed infrastructure, fine dining places, hospitals, shopping centers, international schools and an international airport that will hopefully be back in active operation with direct flights to Singapore, Hong Kong, Kuala Lumpur and other destinations.”
Meanwhile, “the COVID-19 pandemic provided the island with a chance to make some improvements as it relates to infrastructure. Work is still needed, but those who are already familiar with Samui will be impressed.
From what we’ve seen, the local government has really made use of the past 18 months and upgraded a lot of infrastructure on the island. A lot of people will be very surprised when they next visit.
Of course, the situation is not perfect. Connectivity to Bangkok and other main areas is something that could certainly be improved, and it will be over time. However, this also provides the island with a feeling of exclusivity which fits very well with the kind of projects that Samui has.
According to one of the island’s leading property developers, Horizon Homes, that feeling of exclusivity has helped Samui create a lifestyle that is appealing to more and more people.
“Buying property in Koh Samui is as much about an improvement in lifestyle as it is the investment factor these days. People are re-evaluating their own lives and the path they are on. All of a sudden, those long held dreams of moving to tropical paradise are gaining traction and the possibilities are explored.” Alex Armitage, CEO of Horizon Homes, says. “It is never too early to improve your lifestyle and there are some good deals to be had now that may not exist once the tourists start to return and the situation around the world normalizes.”
That also aligns with what SunWay Samui is currently seeing. People aren’t solely looking at Samui as a place to visit or invest, but as a place where they can indulge in the lifestyle they have always dreamed of.
“We see market trends moving away from holiday rental investment purchases to personal use homes. Koh Samui itself stands out as a place probably least affected by COVID lockdowns and restrictions. You can enjoy living in beach side private villas with stunning sea views, open restaurants and bars and daily life pretty much in the same lifestyle as before,” Ambrosov adds.
The downside to Samui’s smaller size is that its property market isn’t as well-known as some others in Thailand. However, those concerned about quality don’t have any reason to worry.
At Lazudi, we believe the main difference between projects in Samui and other locations isn’t related quality, as you’ll find most developments are of a good standard. It has more to do with size. There isn’t 400+ unit condo projects, which may be a positive thing depending on what you are looking for.
Fortunately, just like Phuket and other key locations in Thailand, Samui has a good number of long-standing, very reputable property developers who have been building high-quality properties for more than 10 years.