Krabi Property Market Resurges
One of Greater Phuket's modern day mysteries as to how Krabi was bypassed during the decade long property boom on this island looks to be coming on the radar of developers. Speaking to the longest serving expert across the bay Robert Reynold's of Krabi Consultants there has been a recent resurgence in new projects and a wave of optimism is now in the air.
Traditionally while hotels and tourism have been long established in the area, only the Amatapura beachfront development in Ao Namao and branded hotel managed pool villas at Koh Lanta's Pimalai Bay were the most noteworthy names in an undersupplied marketplace.
Many still remember what had been touted as one of Thailand's mega projects 1,000 plus rai master planned estate The Cove failed to materialize with its multiple hotels, golf course and residential product; and since the financial downturn not much was heard from the pipeline.
Leading area Klong Muang which plays host to brands such as Sofitel, Sheraton, Amari and soon Ritz-Carlton the new Krabi Garden Resort with ocean view villas and apartments priced from THB 3 to 12 million. Nearby is the AT SEA condominium with entry level units under THB 2 million.
Over in Koh Lanta there have been some mainly Scandinavian targeting housing projects over the year but now Thai Island Dram Estate with 140 units on land sized at 43 rai and affordable beachfront villas priced in the region of THB 25 million.
As we move further into the economic recovery there remains little doubt that Krabi property has no where to go but up in the very near future.