Koh Phangan Follows Koh Samui
Koh Samui, August 06, 2008:
The property market on Koh Pha-ngan has been expanding significantly over the last few years with upmarket resorts and residential developments now emerging in several locations around the island.
Companies such as Sage Land and House, KP Properties now offer a number of residential property development projects, most of them situated in exclusive and secluded headland locations with spectacular views and remote locations that certainly rival what many see as the overdevelopment on Samui.
Buyers are still able to invest at the early stages of a project, buying plots that come with basic infrastructure such as government, private and estate road access, on-site underground cabling for lighting, telephones, power and water supplies. Local developers either assist in the construction process, or in some cases are taking on the work themselves in order to sell the finished product.
Koh Pha-ngan is an altogether more ecological destination than its sister island with much of the landscape and vegetation still left untouched, especially in the mountains. As such, the island continues to attract a more courageous and individual type of investor, and often those with lifestyle as well as financial ambitions.
The Sunset Hill Luxury residential development is one new project being sold as Koh Pha-ngan's first truly international development. With houses starting at 4.4 million (THB) with full amenities, it rivals some of the better developments on Samui for a fraction of the cost.
"There is a need for quality residences in Koh Pha-ngan and Sunset Hill is meeting that demand,” says Charlie C. Solares of SAGE Land & House." The project is situated on a beautiful hillside about 200 meters from the ocean overlooking the Ang Thong National Marine Park. It's a full capacity development set on a stunning 10 rai of land with a lake and panoramic views - something sure to turn heads."
Property prices on Koh Pha-ngan have increased dramatically in the last three years and the trend is set to continue into the foreseeable future. Visitors are often surprised to see the booming property market around the island, and Sunset Hill, along with other developments in beauty spots such as Thong Nai Pan are intended as community living spaces for people who want to enjoy island life and also see a steady return on their investment. Something that the developers say is certainly now possible now on the island.
The island infrastructure is still distinctly basic, but this attracts those in search of a true tropical retreat. With Koh Samui and its commercial centres just half an hour away by boat, residents on Koh Pha-ngan often claim to enjoy the best of both worlds.
The local government is keen to promote the island as an eco destination, and to dispel its image as a party destination by encouraging more adventure tourism and supporting a more upmarket approach to development. With Samui almost reaching capacity both in terms of its tourism and property sector growth, Koh Pha-ngan certainly offers an attractive and affordable alternative for those with the knowledge and nerve to invest in what, until now, has been a relatively unpredictable market.
Article courtesy of Asia Property Report
