What’s new in Koh Lanta?
By K. Olsen
The property market on Koh Lanta has been reasonably quiet over the last few years, following the world’s financial recovery.
But, yes, properties have been moving, however what has also been happening is a new reality has been forming in terms of property resale prices and buyers’ expectations.
This time a change of expectation has settled the previously, sometimes over expectant views on capital appreciation and most resale properties have had the asking prices reduced, some by up to 30-35%.
What this appears to have done is to have “tidied” up the real estate market on Koh Lanta. So with increased demand, a new supply must follow…
So far a few new property developments have been recently introduced to the market. Obviously, this can only prove the sense of optimism felt by local developers.
These range from budget prefabricated holiday homes, through middle market 1 & 3 bedroom apartments in the Long Beach area, to upscale sea view freehold condominiums & pool villas.
These new properties range in price from 1.2M – 37.8M, so something for most potential buyers to go and view.
You can view a great project here with luxury oceanfront condos for sale from 6.8 million THB.
And here with luxury beachfront pool villas from 22.5 million THB.
Both these projects offer you 8% in rental return over 4 years – guaranteed!
In addition, a successful beach front development has just launched phase 2. This phase comprises of studio apartments within easy walking distance to their private beach with prices of between 2.95M – 4.95M.
You can find this project here.
Why is Lanta better or different from other islands like say Koh Samui and Koh Chang?
Koh Lanta is increasingly being seen as a great Thai beach destination. Moreover, places such as Phuket and Koh Samui, are becoming progressively more “international standard” destinations, and more touristy and busy and not really seen as traditionally Thai – This currently is a huge benefit for Koh Lanta, as tourists getting turned off by the “progress” made in Phuket and elsewhere are finding the Thailand they first enjoyed.
In addition, Koh Lanta is a lot smaller in size than the other popular Thai Islands. This I believe maintains that certain “island” feeling, as when in most locations on Koh Lanta, you are always close to the ocean.
Obviously, people of course are entitled to their opinions, and I am sure we could find 100s of people enjoying Koh Chang, Phuket, Samui or anywhere else who could give 100 reasons why they love where they are.
Why is Lanta a more interesting investment location than say Koh Samui, Phuket and Koh Chang?
Koh Lanta’s main development is along the West Coast for a stretch of 10 kilometers or so. There are only a limited amount of good and/or premium land plots remaining, such as beach front and good sea view plots. Much of this land is already taken up by resorts etc. Therefore, as has happened in Phuket already, there if there is no more premium land to develop, this will automatically push the prices of resale properties upwards.
To supplement this finite land supply, a large amount of Koh Lanta is actually protected national forest, and so will/cannot be developed.
The infrastructure on Lanta is pretty good, which counts for something. And the construction of the road bridge taking place will surely reduce travel time to Lanta, which has long been the easy card for competitors to pull when trying to sell other destinations.
The welcoming and friendly Koh Lanta locals.
What may be unique about Koh Lanta is the cultural melting pot the calls this place home, especially in Lanta Old Town on the East Coast.
Here, Thai Chinese, Buddhist, Muslim and Sea Gypsy live together in one small village.
This acceptance and easy going attitude is felt across the Island, as people visiting from all corners of the planet actually get on.
Due to the tropical laidback atmosphere of Koh Lanta, everyone has time to stop, talk, smile & relax together.
Koh Lanta is really worth a visit! And who knows, maybe you fall in love with the island, then just contact us, and we will do our best to find your dream home in Koh Lanta!