In recent years the property market on Koh Samui has drawn more and more attention, not only from foreigners, but also Thai nationals in search of the ultimate private escape. Once characterised by a boom and bust economy, the Samui property market today has matured and greatly stabilised, and even through the global economic turmoil of the last few years, property values on the island have remained strong.
Actually buying a first or second home on Koh Samui can be quite a complicated process due to the huge variety of properties available and the complex laws surrounding the foreign ownership of property in Thailand. The easiest approach for foreign investors is to buy condominiums, which are exempt from laws restricting foreign ownership of land. However, thanks to the services of professional agents like Horizon Homes, a good number of international owners also have private villas on Samui.
As the island builds an ever growing reputation as a location for attractive and stylish private villas, the island’s fame as an idyllic choice for private holidays has also grown, allowing property owners the added value of rental yields to maintain their properties when they are not in residence. This can be especially profitable during peak season, in late December and early January, when tourists flee North America and Europe’s cold winters for the sun and warmth of Thailand.
Thanks to Koh Samui’s fabulous climate, the tourist season really does run all year and there are always renters to be found if the owner is looking. Agencies like Horizon Homes also help with finding tenants and managing the property when the owner is away. Highly professional and committed to their role, such companies can help make a property’s return on investment far greater.
The government on Koh Samui is constantly improving its infrastructure and the standards of quality for new buildings. In years past, construction standards could be quite lax, as work crews rushed to put up buildings to match the huge demand. Nowadays, however, most of the properties going up around the island meet strict international standards, and safety is the top priority. In terms of infrastructure, features like a recently asphalted ring road and an international airport make getting to and around Koh Samui easy and fast.
The property market on Koh Samui is certainly doing well, and as the buildings and the island itself continue to improve, property values will only continue to rise. With the opportunity to make extra returns from rentals, the island offers an attractive prospect for both investors and second home buyers looking for the ultimate private holiday home.