THAILAND - Regional resort competition rising

Bangkokpost, November 12, 2007

While there is no denying that Phuket is at the top of the hierarchy when it comes to the region-wide resort property market, Thailand should watch the economic benefits it is obtaining from foreign investment because neighbouring countries are offering better terms.

In any case, Phuket remains the most successful regional resort market, followed in succession by Samui where CBRE has just opened an office, Pattaya and Hua Hin. Also emerging rapidly are Danang in central Vietnam and Penang and Langkawi in Malaysia. While Thailand's tourism reputation and infrastructure are quite enviable, Mr Simister noted that rival destinations are not only getting the tenure issue right, but some have improved their infrastructure as well. The facilities in Langkawi are excellent, he notes.

Vietnam is also becoming very interesting to property investors, even though Bali in many ways is seen as Phuket's most obvious competitor. However, Mr Simister believes that while the Indonesian resort island has seen a resurgence, it is now viewed as an area of minority interest.

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