Krabi The Next Boom?

The southern Thailand region of Krabi sits on the shores of the beautiful blue Andaman Sea and is famous for its lush region of jungles, Buddhist shrines, limestone cliffs and countless beaches and islands floating just offshore. Despite being a land of idyllic islands and beaches like Ao Nang, Koh Phi Phi, Koh Lanta and Rayleigh Beach, Krabi is the perfect place for those who prefer a bit more than simply spending all day under a coconut palm. While relaxing on the sand here simply lazing in the sun sipping cocktails and cold beers is lots of fun in itself, the options for getting physical in Krabi are excellent including rock climbing and scuba diving and snorkelling, jungle trekking and kayaking.

Why are people choosing to buy in Krabi? The main criteria are accessibility and the specifics of the sites, which is very much the commanding views that are available, the beaches and the general spectacular scenery of Krabi itself. Krabi has already laid the groundwork and possesses the infrastructure to support its growing popularity, especially through one of the best resort airports in the country and an excellent road system. Last but not least, Krabi has fortunately missed out on the Patong go-go bar style of tourism development. With this entire infrastructure in place, and the growing interest from property buyers, Krabi’s only major problem today seems to be that there is not enough supply for property investors. This is a great benefit to Krabi and will indeed be a huge strength for Krabi’s market going forward.

The current economic situation must be taken into account as well. Although there are a few new residential projects due to be completed in the coming 12 months, most of these commenced in the years before the economic crisis started. It is well known that there will be added supply to the Krabi market in the short term, as can be seen from the many projects starting up in this period. This could be a good opportunity for investment, as it will likely strengthen buyers’ positions. For a long-term investment, it’s a great time to buy in Krabi. It is a buyer’s market as you can negotiate very well in the current environment.

The real estate market in Krabi is starting to rival that of Phuket with the launch of branded properties with more professional developers in an area that stretches from Koh Lanta to Phangnga. Krabi has a international airport open to all carriers with frequent flights coming from Bangkok and from Singapore, Sweden and Finland, and the list is increasing along with demand. It is true that Phuket is way ahead of Krabi thanks to its marinas, but a couple of marina projects are starting up in Krabi and before long the province will find itself on the international yacthing map. Right now a lot of yachts cruising the waters are able to find shelter, protected by the network of islands.

Krabi The Next Boom? Krabi may be overshadowed by Thailand’s more famous resort areas but the province is no less attractive. Many nowadays argue that it is in fact more appealing and therefore poised for a real estate boom; it is actually already happening. Right now, there are some interesting developments in the Krabi province that deserve attention. Some are big, others smaller, but all have chances of a very high capital appreciation.

Krabi boasts eco-developments second to none. A good example of interesting developments to watch is Koh Jum Estates, a boutique project offering plots on an island with sunset views and a truly beautiful white sand beach. Unlike distant investors driven to maximize profits, the developers of Koh Jum Beach Villas are passionately committed to the project socially, environmentally and economically. They will own homes on the property and will be neighbors to future buyers.

A Swedish group of developers has embarked on an innovative development in Klong Muang, north of Ao Nang. Nestled on a pristine hill overlooking the Andaman Sea, Klong Muang has unspoiled beaches and feels a million miles from the tourist area just down the road. Krabi Garden Resort location makes it a boon to investors. A 20 rai (32,000m2) gated property located near Sofitel’s golf course, it is every sailor’s dream, being so close to a navigable sea. Its resortlike lifestyle living and its strategic location make it easily accessible
from Krabi.

Krabi’s most innovative development project area, which has the potential of becoming the new Ao Nang, is Hat Yao. Hat Yao or Long Beach is the longest stretch of beach on mainland Krabi. Its location close to the international airport and Krabi’s only golf course is big factor in its favour. Hat Yao belongs to Krabi district and is one of the latest revelations in the real estate scenario.

The land in Hat Yao was secured a few years back by developers who saw its potential; they created infrastructure alongside with the local government, and made sure the area would inspire confidence in investors; one of the key players involved in the development of Hat Yao are Krabi Sunset, which boast homes and apartments to suit all budgets. Their products range from simple homes to beachfront villas that enjoy 180 degree ocean views. Le Kiri is also a big player in the Had Yao scene, with a boutique development of eight spacious villas situated in a secluded beachfront land with panoramic and breathtaking views.

With prices skyrocketing in the south of the country, and beach front land becoming scarce in traditional resort property hotspots like Samui and Phuket, it’s not surprising that Krabi is considered the emerging market for the real estate sector. There are many indications that the Thai property market will escape a cycle of over-supply, further adding weight to the suggestion that the current market could indeed be a buyers’ paradise. Why not make Krabi yours?

Visit www.exotiqrealestate.com or contact +66 (0) 8 9908 5990 or krabi@exotiqrealestate.com

Krabi The Next Boom?