Samui staves off COVID-19 blues due to an increase of entry-level villa demand
Samui staves off COVID-19 blues due to an increase of entry-level villa demandThis article on Samui appears in the Dot Property Group Report: How Has COVID-19 Impacted the Thailand Property Market? Click here to download your FREE copy.Key StatsDemand of 5+ bedroom houses and villas as well as ones priced at more THB30 million…September 20, 2021
This article on Samui appears in the Dot Property Group Report: How Has COVID-19 Impacted the Thailand Property Market?
- Demand of 5+ bedroom houses and villas as well as ones priced at more THB30 million fell during COVID-19
- There was a 28.9% rise in demand for THB5 million and less villas and houses during the same stretch
- Overseas interest in Samui real estate rose by 20.9% in April 2020 to March 2021 when compared to the previous 12 months
The Samui property market saw an increase in demand during the COVID-19 pandemic due in large part to surging interest in entry-level villas. There was a 16.3 percent overall increase in demand when comparing April 2020 to March 2021 to previous 12 months. This was driven mostly by rising enquiries from overseas buyers.
More than 80 percent of all residential real estate demand in Samui is for houses and villas which is not all that surprising. And while the popular tourist retreat is well known for its ultraluxury villas, the lower end of the market performed remarkably well during the COVID-19 pandemic.
Demand for THB5 million and less villas and houses grew by 28.9 percent between April 2020 to March 2021 when compared to the same time span pre-pandemic. There was also an 8.6 percent increase in enquiries for villas and houses priced at THB5-10 million. At the other end of the market, demand for THB30 million and above housing decreased by 12.3 percent.
More people were after smaller houses and villas during this period. Demand for one- and two-bedroom properties in this segment rose by 23.3 percent while three-bedroom villa and house enquires jumped by 13.4 percent.
Overseas demand for Samui starts to heat up in Q1 2021
The first quarter of this year was the island’s best in terms of demand during the past two years. This is in line with other tourist destinations where early optimism of a reopening likely served as a catalyst for increased interest. What this really shows is that after a strong 12-month stretch during COVID-19, Samui may see demand rise even more once it reopens.