Sansiri targets Phuket luxury villa market - Bangkok Post
An artist's impression of The Tales Story Two Pasak, a two-storey pool villa development in Phuket. SET-listed developer Sansiri is launching high-end villa projects in Phuket, catering to both expats seeking permanent homes and foreign buyers looking for second homes, with the properties completed before sale to build buyer confidence.
Poomchai Mattayompoppinyo, managing director of Sansiri's southern region project development, said the company has been active in Phuket since 2011 and has observed significant changes in the market.
"Phuket has evolved from a tourist destination into a self-sustaining international destination," he said. "Demand for villas has shifted from holiday homes used for a few months to six months a year to properties for year-round living."
The villa market is now more clearly defined in terms of demand and supply than during Sansiri's first 12 years in Phuket, with demand in recent years driven by expats relocating to the island to live, work and run businesses, said Mr Poomchai.
Agents marketing the company's pool villas are no longer reliant on a single market, unlike in the past when they depended heavily on Chinese and Russian buyers, many of whom have since been accommodated.
The buyer base has broadened to include people from other Russian-speaking countries, European markets and Thai investors purchasing villas for rental income, he noted.
Sansiri's market survey revealed that rental rates for Phuket pool villas are highly lucrative. For three-bedroom villas with usable areas of 280-350 square metres, long-term rentals under one-year leases range from 250,000 to 300,000 baht per month.
During the high season, short-term rentals for these three-bedroom villas can exceed 500,000 baht per month, offering attractive returns for property investors.
Meanwhile, four-bedroom villas with usable areas of 400-500 sq m command long-term rental rates ranging from 350,000 to 500,000 baht per month under one-year contracts.
Short-term rentals for four-bedroom properties during the high season can exceed 600,000 baht per month, underscoring Phuket's appeal as a premier global destination for luxury living and investment, said Mr Poomchai.
Sansiri's new pool villa project is The Tales Story Two Pasak, worth 750 million baht. Located on a site of nearly nine rai, it comprises 14 two-storey units priced from 49.5 million baht.
"As the site is near several international schools, we designed two-storey villas to meet residents' needs," he said, adding that the units target foreign buyers and are offered under 30-year leasehold contracts.
All units are completed and ready for transfer, a move aimed at reassuring foreign buyers after some purchasers in recent years failed to receive transfers for off-plan properties developed by other companies.
