Demand up for Phuket properties
Russians outnumber British as new buyers
- Published: 17/08/2011 at 02:40 AM
- Newspaper section: Business
Property sales in Phuket are picking up, boosted by new demand from Russian buyers while expatriates working in Hong Kong and Singapore are returning to the island.
Piya Sosothikul, the managing director of the Phuket-based developer Erawana Co, said demand was coming from new buyers, especially Russians, rather than traditional buyers in Europe such as the British, whose economy has not recovered.
He said demand from foreign buyers had improved slightly but there was no local demand. More expatriates working in markets such as Hong Kong and Singapore are returning to the Thai market because the Asian economy remains strong.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
About the author
- Writer: Kanana Katharangsiporn
- Position: Business Reporter
