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What $8 Million Gets You in Luxury Real-Estate in Phuket, Thailand
I got an inside look at two villas on the Thai island of Phuket. While they were listed at similar price points, they offered very different takes on island living. The $7.9 million villa had a gleaming, ultra-modern feel to it, while the $8.6 million villa was timeless and sanctuary-like. Loading Something is loading. Phuket, Thailand’s biggest island, is flush with villas: In the past decade, the Southeast Asian island’s villa stock has more than quadrupled to a total of 4,000 luxury homes. On a recent reporting trip to Phuket, I followed real-estate agent Norbert Witthinrich around for a morning to get a sense of the island’s luxury real-estate offerings.…
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Phuket Real Estate Market Benefits From Its Location, Hong Kong Troubles
Villa sales in Phuket cratered during the pandemic, with sales dropping by 50{d4d1dfc03659490934346f23c59135b993ced5bc8cc26281e129c43fe68630c9}. But luxury real estate on the island is making a rebound as Thailand opens up to international travelers. In an inversion from pre-pandemic days, the middle and top of the market is booming, while entry-level purchases are lagging. Loading Something is loading. In the past decade, Phuket — Thailand’s beach-paradise island — has become a breeding grounds for villas. The island sits off the southwestern coast of Thailand and had, before the pandemic, attracted millions of international tourists every year. The island’s villa supply has more than quadrupled in the past decade, from roughly 1,000 to 4,000…
