Managing Director Nick Thatcher told Property Report: “I have been visiting Krabi for a few years now but have just recently started to see things step up a gear, so decided to come and set up office here a couple of months ago.”
Thatcher’s company has been working in the Koh Samui market for more than six years, and he says he has seen first hand how much growth people can achieve on their investment in a new market.
“Krabi is the only remaining destination in Thailand that has not really experienced much development yet,” he said.
“After speaking with a number of resort developers over the past year, a lot of their attention is now being focused on the Krabi and Phang Nga area. Most of the major brands are already established in other main tourist spots within Thailand, so Krabi is the next obvious move. A few resort brands have already been tempted here, such as Centara, Sofitel, Anantara, The Sheraton, Amari and the recently opened 6-star Ritz Carlton Reserve. The next to open during 2011 will be a new property under the Mercure brand.”
Thatcher is expecting to witness a number of land plots being bought up by the resort developers. I keeping with the current trend for branded residences he expects to see villas for sale incorporated within projects which, he says, will also bring some quality investment properties to the area.
He said: “A few interesting projects are planned to start construction during the next 12 months, including a new marina project south of Krabi town at Haad Yao (Long Beach), where there are already a handful of beachfront projects that have been selling steadily. One of the most successful projects in the area has been the ‘At Sea’ condominium at Klong Muang beach, which has sold the majority of its condos before construction has been completed.
“I expect to see more similar condominium projects arriving in the area,” he concluded.