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Transcript of Phuket Residential Market Report May 2011 | Colliers International Thailand
8/6/2019 Phuket Residential Market Report May 2011 | Colliers International Thailand
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Phuket Residential RePoRtthailand
www. o e s. o.
Phuket Residential Market
ExEcutivE Summary
t b m y P v y r r r g b y g c v y r m ggb p c g p v r p y r. Gr r c c r m c m r cm r r b v pm w y r m c .
i rm mb r r r P r p c c r m r t m c m r . h w v r w c gr r
v r c p v .
W pr p r y r r m r m r c m m , 2010 w r r y r w m r c m m w r pp w m r b c m
pr p r y. J r 1,020 c m m w r pp 2010 j v M y 2011.
t cr g mb r i r l w C C rr r g P pr v p r r g m r g r m r r r r
r g b y r .
May 2011 | residential
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Phuket residential Market rePort | MaY 2011
COLLIERS INTERNATIONAL | P. 2
ZOninG
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Phuket residential Market rePort | MaY 2011
hiStOrical SuPPly By yEar
cumulativE SuPPly in BanGkOk
F r p rp r rc r v x z r c x g m r , pr c rg gr p. F r r c r
c w .
nOrth WEStt r c mpr b c M k , n Y g, n t ,l y , B g s r b c rr g r . Pi r a rp r c r . t r m r
pm r c w w r r w m y cc py l gr M k b c .
SOuth WESt
t r c v r k m , k m, P g, k r , k b c . M yx ry pr j c r c g c r , p c y
R m-h r R k m b c . t z m c r g c P c r m y v y P g b c . t
v r p p r y r m r m b g c r v b c .
EaSt
t r c v r r c P c g a P , B gR g, C p Y m , s p m B y rr g r . t r
b r m r v pm r r r r m r y c w m r c mp x .
SOuth
t r c v r k s r y, M m B y, C p P w , C g BR w , s Y , n h r b c rr g r . i m v
r m r p c s W .
cEntral nOrth
t r r m c r h g w y n .404027 r g h r M m . a g c v ry c
rp r r r v y p r c mp r
cEntral SOuth
t C r s r c r c
h g w y n .4025 4027, c g P w r . W vm by w y r , g g r v
C -P r g q r r P t w c p P t w m p r .
hiStOrical SuPPly Of cOndOminium and landEd PrOPErty unitS and l and PlOtS By yEar, may 2011
s rc : d p r m l C r i r t R rcR m r : t mb r b v g r w r c c m m, v pr j c
t r r pr j c P r 1994 gr w byppr x m y 2,800 p r y r r m 1995 1998 w gmb r r c r y r 1997 w m r 4,300 . t
w g w y r r t ‘ c m c cr 1997 p c pr p r y m r r g r m 2003 2010 r
w cr v r g r 2,650 p r y r. t gr c r w pp y r c m c cr w ppr x m 2008, b c g b c m c gr w r g y r
2008 pr mp w v w v pm b g b w r c 2010.
PhukEt rESidEntial markEt
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i r g by r m m r r m r rm mb r c w y r m c
P w r m r. t c p p r 230,000 b c g c r
p p , m y w m r mp y p y ry P . t c r m m P
pr v c w g c p p r b v r g r r pr v c . t r r r g c m
r g r t m r . W r m r g v r c
m g , r r b c r
i m b w rm C r sw y, m cc c p v r r
g c c c r . Pr p r c r gm c g r v p r q r m r z b b
t r r mb r y p r ry. tx m r r p r .
l v pm r pr by r m rc pp y P w m r 27,300 ppr x m y 5,700 r
c m m . l w r pr c m pr pr v ry p p r r p p v g .
s rc : d p r m l C r i r t R rc
s rc : d p r m l C r i r t R rc
hiStOrical SuPPly By lOcatiOn and yEar
hiStOrical SuPPly By PrOPErty tyPE and yEar
Phuket residential Market rePort | MaY 2011
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cOndOminium markEt
hiStOrical SuPPly By yEar, may 2011
COLLIERS INTERNATIONAL | P. 5
s rc : d p r m , C r i r t R rc
appr x m y 200 w r c mp r g r v m 2011 mb r m ppr x m y 5,700
s c 1995 2005 v r g mb r p r pr j c w 84, b r y r 2005 g r 55 .
d v p r b c m m r c rv v rm pp y mb b y r pr rr m r v pm w b r pr vv w .
Phuket residential Market rePort | MaY 2011
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t pp y c m m ppr x m y 5,700 wC r s w g g pr p r w ppr x m y 46%
r m w 32% c s W r y 22%r r r z w r 1,250 . t r w y r
r 2004 m r v ry w w b g pp r m m r w g c y v p r
r r r m r c s m h h . t p r gr w cc rr 2007 w r b w m y r r c C r s s W . B r c rg p pc r . t s W pr m r r r w C r s c mp m c mm rc c
p c y P t w .
t g r pr v r pr y ppr x m c y b r g c mp r v y v r r P .W C r s m rm mb r w v rc p v r c r s W r mp
r r . W g y r g r b c v br g r
r g m g r m g r b y r . i r mp r c n r W e rm v mb r c . B r c m
c b b m c g r pr c .
s rc : C r i r t R rc
s rc : C r i r t R rc
hiStOrical SuPPly By lOcatiOn and yEar, may 2011
EStimatEd caPital valuE Of cOndOminium StOck By lOcatiOn
Phuket residential Market rePort | MaY 2011
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cOndOminium unitS availaBlE fOr SalE, may 2011
s rc : C r i r t R rc
t r r ppr x m y 3,200 c m m v b r r m r 8,200 r m 83 pr j c b
pp c .
cOndOminium unitS launchEd durinG thE yEarS 2005 – 2011 By lOcatiOn, may 2011
s rc : C r i r t R rcR m r : t rm 2011 M y
n r y 34% r m m r w c 2008. d r g y r 2006 – 2007 c m m m r P w r c
n r W s W r r m m r r c v rr m m r g r r r b y r . i 2008 C rs w r p r mp p c c t
m c m r g b c c c r mp c rm r . a mb r pr j c c b w 170
w r r gr r z v r g P cv pm .
unitS launchEd
Phuket residential Market rePort | MaY 2011
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M r 5,500 r c b c mp by 2013 v ryc w r 3,350 C r s r , 1,500
s W r , 480 n r W y ppr x m y 170 s r .
t m rg c m m pr j c C r s r t p p w v w r P . F r g r r pr
m rc m p c y w r g r m rr c . s g pr c r w r pr j c
c r b v m c p , pp g mc v c r w y cc .
s rc : C r i r t R rc
cumulativE futurE SuPPly SchEdulEd tO BE cOmPlEtEd durinG thE yEarS 2011 – 2013 By lOcatiOn, may 2011
futurE SuPPly
Phuket residential Market rePort | MaY 2011
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takE uP ratE
takE uP ratE Of all cOndOminium PrOjEctS in thE markEt, may 2011
t p r r m r r s W , e s r , ww C r s r , m r 8,250 r
r pr g m 50% m r .
M y pr j c n r W , s W , e s r r
rg r r g m r r c c r bw m c p c c c r w g xc g rc p r m g c r m y .
s rc : C r i r t R rc
Phuket residential Market rePort | MaY 2011
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t v r g g pr c e r g r y thB95,000 p r q m w c m mb r b g v b
g r v pm .
t w r r w m r mb r rg gr p, c ,pr j c c c p g b g m r. h w v r n r W
v m r pm r m g b m y pr r c v c g s W . t v r g g pr c C
r w ppr x m y thB 50,000 p r q m pr j r r c w y r m c c tc g c P r v g
p y ry.
a c c g pr c b cc w pr c p r q r m r . u g m r c w w
xp v c m m r e r . t pr m r y x c w m r r r r b c mm pr m m cc y c g c z r gr r
r c m m v pm . Pr c C r n r r rc mp r b w r c r W
m mb r b b g c c l gw rg r z .
t w g r r C r s p c rm r r p p v g w r g r r
x ry. i r g r c r cr pr w c m r .
s rc : C r i r t R rc
s rc : C r i r t R rc
avEraGE SEllinG PricE Of cOndOminium unitS availaBlE fOr SalE in PhukEt
EStimatE Of avEraGE SEllinG PricE PEr unit Of cOndOminium unit availaBlE fOr SEll in PhukEt
PricE
Phuket residential Market rePort | MaY 2011
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PhukEt markEt fOr landEd hOuSinG and land PlOtS in dEvElOPmEntS
hiStOrical SuPPly By yEar, may 2011
hiStOrical SuPPly By lOcatiOn and yEar, may 2011
a r c cr 1997 y 110 p w r b w1999 – 2002 b y r 2003 m r 2,200 w r
m r y cr pp y 2010 w v ry
g b c r b m c rpr c g w y r .
h g v pm C r s r c r y r m r r w m r 25,000, g m y m r v b m r . appr x m y 5,000 v
b pp C r n r r y 800 r m g r r . l w r c C r s g w
c P t w cc r .
n : t r p r c r rc r g r v p r b g p pr j c . ow r-b v
s rc : d p r m l C r i r t R rc
s rc : d p r m l C r i r t R rc
COLLIERS INTERNATIONAL | P. 11
Phuket residential Market rePort | MaY 2011
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appr x m y 58% v b m r r c C r s r , w r 230 n r W C rn r r .
t z pr j c C r s r r g w
m r 135 p r pr j c c mp r y 20 p r pr jr c s W r . t c rg p
c m c r.
unitS launchEd
78% w r c r g y r 2007 2009 50% c C r s r .
s rc : C r i r t R rc
s rc : C r i r t R rcR m r : t rm 2011 M y
landEd hOuSinG and land PlOtS availaBlE fOr SalE in thE markEt By lOcatiOn, may 2011
hOuSinG and land PlOtS in dEvElOPmEntS unitS launchEd durinG thE yEar 2004 – may 2011 By lOcatiOn
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futurE SuPPly
COLLIERS INTERNATIONAL | P. 13
cumulativE futurE SuPPly SchEdulEd tO BE cOmPlEtEd durinG thE yEarS 2011 – 2013 By lOcatiOn, may 2011
appr x m y 2,600 w r c b c mp 2013 c 59% r c C r s r . M
r xp c b c mp by 2011.
M y pr j c C r s r c t m c
m r g pr c r r m thB 1,490,000 r w , b m pr p r r r g
.
s rc : C r i r t R rcR m r : t y r c mp w xp c by v p r
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t p r C r s r g r pp rm w r 1,000 v b m r .
appr x m y 75% v b p n r W r r m r 900 ppr x m y 73% s W , e
s r r m r 1,100 . M r 3,700w r C r s r g r b cm y v pr v p p r pr c w r b cc
c , pp g m p .
t r gr r c g pr c P m x m m m m m m r . t w r pr m r y
c w y g w y r m c w r v y m p b g z w g r m y vw c r c c c rry pr m m r .
B r C r r r w pr c , r g r m thB1,490,000 thB 65,000,000, b r y 90% m r v r g
g pr c thB 10,000,000. t C r n r w c b g w y r m c r
c mm rc c r P t w .
t g v r g g pr c s W r r r c m r r g m r w b c r
v w .
s rc : C r i r t R rc
s rc : C r i r t R rc
thE takE uP ratE Of all landEd hOuSinG and land PlOt PrOjEctS in thE markEt By lOcatiOn, may 2011
avEraGE SEllinG PricE Of landEd hOuSinG availaBlE fOr SalE By lOcatiOn
takE uP ratE
PricE
Phuket residential Market rePort | MaY 2011
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dEmand drivErS fOr rESidEntial PrOPErtiES
tOuriSm
COLLIERS INTERNATIONAL | P. 15
viSitOrS BOOkEd intO hOtEl rOOmS in PhukEt By yEar
s rc : d p r m t r m C r i r t R rc
Phuket residential Market rePort | MaY 2011
t mb r r g r 2005 r m c y r pp by r y70% r m 2004 m d c mb r 2004. t r w
r m c r c v ry 2006 w m b r r prm g r . h w v r g b c m c cr , rp r c r
r p c rb c v p p y r c v ry b
2010 r pr p c p r r g r m r . d m c c y gr w g mb h h , P y k Y r c g B g
r r w c v v y g r x v r r v .
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M v w m r p r rm rr vmb r w r 2003 w B b mb g ,
p w g m r c P 26 d c mb r2004. t r m r b r g y 2006 w g r c
r m m r . h w v r G b F c Cr t m c rb c 2007 rp r v r
g r g p w y r . t c ry b c
r a r w r g gr w rr v mb r b g r 2009 2010 w r pr by r b gg r g m r
t gr r r q cy g c mm a r r m w r c g b
r v p c rr cy r g.t r v w e r p am r c c rr c v c p r p rgr w r m m r b .
o m j r c r g b c r g b y r w m m j r c rr c w c mp r t b m g pr p r y c v g m r xp v . t c rr b
v us, uk m y p r e r p r y c c c r r g b b y v r y c g
r r.
s rc : d p r m t r m C r i r t R rc
s rc : B t C r i r t R rc
viSitOrS BOOkEd intO hOtEl rOOmS in PhukEt By SPEcific natiOnalitiES and yEar
ExchanGE ratE durinG thE yEar 2000 – may 2011
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fliGhtS tO / frOm PhukEt
thE lOW cOSt carriEr (lcc) EffEct
COLLIERS INTERNATIONAL | P. 17
s c m r b y r rcr p g rmb r p 2008 w l m c p r g
r c m r z w r . i c b cb c r c r r g g r r 2010. t r r
c r r c pr c p r g r y
ry . t w r m rg c rg m rc gr w r P . t mp r
m r r c g m r c B g r r c m r m m c f c c p c y
r c ry’ r m.
t y r 2010 w rg r g r mP w rg y b c gr w g m v m
r m lCC . M y y p lCC pr v g g cr v r w m m y c r v w pr c
r . i g r r r gr w lCC c y b r g m r r pr p r y. n y w
m r r v b m y w b c r g b y pr p r y bp c y c v m r r g r y c p r gp .
i p P i r a rp r w p g r y (5 m r p g r
m c p g r ) by y r 2018 xp p v g rp r w b c m b r .
s rc : a rp r a r y t C r i r t R rc
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h g w r v c m r m c Pr c b y r r m br r g c r v p r
g rm y rg m r . W e r p w r m y p b y g y m c w r m r
c R , s g p r , h g k g M e . i g r
v p r cr pr c c pp w v rc c p x ry r c cr b r . h w v r c
v p r rg m r M e r b y r w cpr p r y c p r w mm g p r w m .
W r gr w g r r w y t v x rypr p r y P , m r m c mp r h h P y . M w m r m B g f r rm r y c c m r r c B g r r
r y cc w . t r r c r r w r
w r r v r gr r pp P w r gv v . a k Y pr v g p p r p c y r t pr x m y c r c m .
fOrEiGn markEt fOr luxury rESidEntial PrOPErty
thai markEt fOr luxury rESidEntial PrOPErty
COLLIERS INTERNATIONAL | P. 18
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StrEnGthS
t y p c y b c r r ’ ‘dna’ c r b c P r w r g w r r y b y
c r b . i c c rv w c rg b r r r c . e v r m
m r b c r P r m pr m r.
t br m P r g r v m r m w y c c r c r m br t p g
c rc m c . t pr v c r b c v pr m g v rv y g pr g p .
t r r c r r m r g r r c c g r r g m r . R cc m r c
P w g c c .
d r c g r m gr w g r m r g c p r g v g c mp r r r r w r p v r r
r B g c ry.
WEaknESSES
o m r r t , P w w r m rr r y s m , P y r h h . M c r g r v v r j r m y r. d r g r y w v c b g r r w g r
c mm .
P b c r p r p r m y c mp b x m p y r v pr c p r g g r .
d p r c r m m 2004 c c m y m y c rr r w g r v pr p r y.
t r r cr g mb r r r g r g r v gc w m j - p r r , w m p by x - r v r r g . a r pr ,
g v m g c c r g b r p rr m v g . h r ry c r P v b
c w c rr g v r r r g r . t c bc r r r P r .
OPPOrtunitiES
t c b ppr v v m b g b 5.8 b br xp P i r a rp r . t pr j c g cc mm 12.5 m p g r c y r r g 2018
c b c mp 2013. t w w r P r c v r gr r mb r r r r p b y r
r p rr by c p g r m lCC .
t P i r ex b C v C r M k
b c w b g ppr x m y 2.6 b b bc . t c r r m r 42,000 q r m r p b c mp 2013.
Gr w g mb r a r v g
c ry b g r g m r r r b y r R M e r v r v pp r r
rm r m m rg g m r r m i C c x y m c by r p r c .
thrEatS
B w y b p rc v m r c c mpP r r b r r pr p r y. t rg r m r r r c r r g r w g r g pri t . M y r c v c “My s c h m ” b b cc r c
g c m r g b y r .
h w v r w r m m r r b g g p p. t c C mb r s v r w v v p
m r v r b pr v w w r
w g r g w r p m y m w g pr p r y r r c v t r . V m m y b
m p b r c v m ppw , c v w r sr l c g r b y g pr p r r . t m g rm p
P c m r m My m r. l g r m g g m ww , p g p c ry g g cc p by c v pr p r y w c r vr c y w c ry r v r b c m b y r . i m g r P w r m g m .
C c r g r m c r z w r c
b p r c r v b w pr w p m r pr p r y m r P v b y r m r w r. t gr r p
m c r c v ry r x v y r g w mr g r r pr p r y.
d m c p v c ry g r b c grr m c c b w br P br tg p r r w g v y mp c b
b y r m . t w g w m r g r J y w b cr c m r r c c
SWOt analySiS
COLLIERS INTERNATIONAL | P. 19
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Phuket residential Market rePort | MaY 2011
cOlliErS intErnatiOnal thailandmanaGEmEnt tEam
ReseaRCha y P c | a c d r c rs r c k gc p | s r M g r Retail seRViCesa r w W c | s r M g r
adVisoRY seRViCes | hosPitalitYJ M rc G rr | d r c r
PRoJeCt sales & MaRketinGM c or w gp | s r M g r
Residential sales & leasinG
s l w | s r M g r
oFFiCe & industRial seRViCesn r m R r v r p | s r M g r
adVisoRY seRViCesn p r t c m | a c d r c r
Real estate ManaGeMent seRViCesB C y | a c d r c r
inVestMent seRViCes
n r s w | a c d r c rW R jj | s r M g r
Valuation & adVisoRY seRViCesn c Br w | a c d r c rP c P rm | a c d r c rs p g kr m | s r M g rW s w | M g r
PattaYa oFFiCeM r B w g | s r s M g rs p s r j | s r B d v pmM g r / o c M g r
Colliers international thailand:
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