Nov 6, 2023
Phuket's Bangtao Experiencing Surge in Real Estate Development
Phuket's Bangtao area is seeing a surge in real estate development, with over 10,000 residential units in the market. The influx of expatriates, driven in part by the Russian-Ukraine conflict, has fueled the property boom. The area is being transformed into an international community, attracting buyers from various countries. However, the lack of hotel licenses for residential properties poses challenges and unfair competition for the hotel sector. Rising land prices have led to the development of mid-rise condominiums. The government needs to address infrastructure and traffic concerns in the growing metropolitan area.