Koh Samui is still a little behind Phuket and Pattaya when it comes to property investment opportunities, but the friendly climate and relaxed lifestyle makes it one of the most popular destinations in Thailand. This, in turn has sparked serious growth in the property sector over the last few years and despite recent bad press buying a property in Koh Samui is still a good value option for investors, especially when it comes to high-end properties. However, the market is still unpredictable and recently suffered a slump due to land-encroachment scandals and stricter controls regarding foreign ownership.
The Samui commercial property sector has also grown in the last 12 months, as more people have arrived on the island from the mainland with Thai consumers and foreign residents creating new retail opportunities for both Thai and international firms. Major chains have joined boutique malls and now offer a wide range of products and services to an increasingly sophisticated international clientele. The island is now a bustling commercial tourist destination, but still boasts stunning scenery and secluded beaches in some of the islands less visited areas.
Condos on Koh Samui
With ownership issues becoming increasingly complex, condominiums are slowly emerging as an alternative investment for foreign buyers on Samui. Thai law permits foreigners to buy a condo in Koh Samui in their own name, which removes the need for local partners or investment through a Thai Limited Company. Several luxurious, low-rise condominium projects are currently under construction in the south of the island, and also in the hills to the north. These projects include a number of attractive additions to enhance the owners tropical lifestyle, such as club houses and onsite restaurants, pools, sports facilities and even spas and more.
Houses and land on Samui
Prices for land and houses for sale in Koh Samui has risen sharply in recent years and many foreigners choose to lease long term or rent/buy raw land and build their own houses. The island is in the process of applying for city status, which should mean a general improvement in the local infrastructure over the next ten years. Urban city limits are expanding rapidly, thanks to a new network of concentric highways and many house projects are under development. Although targeted at the Thai middle class, they have proven popular with foreigners, particularly those with a Thai spouse to own the land. Others find that a rai of land within the muang (city) district can cost less than 3 million baht and they prefer to take advantage of cheap building costs and an excellent choice of materials suppliers.