Phuket Gazette

PHUKET: As real estate in the markets of Phuket, Phang Nga and Krabi increasingly becomes unattractive to investors and speculators due to rapid appreciation and seemingly irreversible inflation, markets in other Southern Thai provinces are beginning to bud.

Trang is one such market that speculators would be wise not to ignore.

The President of the Agency for Real Estate Affairs Company Limited (AREA), Dr Sopon Pornchokchai, PhD, recently visited the province and made a number of noteworthy observations.

Due to its ideal location along Thailand’s Andaman seaboard, Trang has high potential to develop into a regional center for property development and tourism.

The province had a Gross Domestic Product (GDP) of more than 119 billion baht in 2010; With a growth of 27% since 2005, it ranked 9th of 14 Southern Thai provinces, Dr Sopon noted.

During the five-year period, Trang’s private sector Consumer Price Index grew by 31%, while at the same time its Private Sector Investment Index jumped by 19%. This is compared to an increase in its Government Expenditure Index of only 4%, as well as a 32% decrease in its Expenditure on private sector Investments Index.

Total area that was requested to be developed grew by 24% in 2012 and is expected to be no less than 30% this year, Dr Sopon said.

Although revenues from the province’s agriculture sector have been in decline, due mainly to the value of rubber and palm commodities plummeting in the global market, the real estate market should not be directly impacted, Dr Sopon insisted.

In 2012, construction in Trang’s municipal areas covered 149,175 square meters and 117,992 sqm outside of municipal areas. Most of this was for single detached homes. Of the construction in municipality zones, 41,141sqm was for row-housing or town-houses.

Aside from this, the province saw development of just one condominium project covering 1,182 sqm. Signaling the spark of a new, potentially lucrative market, there is at least one more condominium project in the pipeline, with already half of its units reported sold off-plan.

Meanwhile, most of the other projects under construction are for single detached homes and town houses outside the city center, especially en route to Trang airport, where there are 10 "quality" projects underway.

Dr Sopon said that there are no indications that the property market in Trang is at risk of being flooded, since it is still in the infant stages of what appears to be a promising boom.

Dr Sophon says that Trang Airport, spanning 1,659 rai and located 8 kilometers or a 15-minute drive to the south of Trang Town, in the Tung Nang sub district, is an important factor in stimulating Trang’s development and economic potential.

Although Thai Airways had abandoned the destination, new airlines, namely Nok Air and Air Asia, have stepped up to provide four daily flights to/from the province, which has proved a boon for the local tourism industry.

Moreover, there are plans proposed to expand the airport’s western runway utilizing a budget of 96 million baht, and expand the passenger terminal using an additional proposed budget of 80mn baht.

If executed, these expansion initiatives will increase the airport’s passenger load capacity from 300 up to 400 passengers per hour.

At present, the airport can handle 2,424 passengers a day.

Given continued expansion and growth in infrastructure, tourism and education, and expected increased revenues from the agricultural sector and diversification of other industries, the real estate sector in Trang is poised to prosper, Dr Sophon concluded.

Keep checking our online Phuket Property pages, join our Facebook fan page or follow us on Twitter @PhuketGazette for the latest local, national and international property news updates.

This article first appeared in the current issue (Jul 27-Aug 2) of the hard-copy Phuket Gazette newspaper, now on sale at newsstands throughout the island. Digital subscribers may download the full issue, this week and every week, by clicking
here.
– AREA / Phuket Gazette

1

"breathtaking Chao Mai Beach" are you kidding? It's mediocre at best. Point the camera towards the massive amounts of trash just above the high tide line. Of course it's going to be exploited for all it's worth, but it would be nice if the people doing the exploiting were a bit more honest.

Posted by Bill August 1, 2013 06:49:09PM

Reply

0    0

1

"breathtaking Chao Mai Beach" are you kidding? It's mediocre at best. Point the camera towards the massive amounts of trash just above the high tide line. Of course it's going to be exploited for all it's worth, but it would be nice if the people doing the exploiting were a bit more honest.

Posted by Bill August 1, 2013 06:49:09PM

Reply

0    0

Right push panel.

Close
© 2017 The Phuket Gazette Co Ltd | Desktop Version