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Sunday, June 1, 2008
Welcome to www.samuipropertyonline.com,
the online version of Samui Property, an independent monthly property &
real estate newspaper published by Siam Map Co. Ltd., Koh Samui,
Thailand.
Samui Property offers impartial, objective
news articles, stories, legal advice & information, zone maps, photos,
classified adverts and features about real estate, property, villas,
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Please come back every month for fresh
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The Changing Face Of Samui
New resorts, hotels and business continue to flock to the island.
It’s almost inevitable that by the time you read this it will already be outdated. Previous articles featured in this publication have listed new shop, restaurant and hotel chains that have been attracted to the island, and yet more keep making the headlines.
It’s hard to imagine or remember Samui the way it was five years ago and how significant the changes in that time have been. Some that do remember times gone by are disappointed, upset or even angry at many of the new additions. But the reality is that the whole concept of the island as a destination has changed and people’s expectations and demands have changed with it.
Very few people arriving on the island today expect remote accommodation, totally deserted beaches, and being completely ‘at one’ with nature. Brochures, travel programs, word-of-mouth and international marketing of the island through large hotel brands, airlines and travel companies leave people in no doubt of what awaits them; those looking for a Robinson Crusoe experience will have to go elsewhere.
However, we shouldn’t look at this progression in a negative way. ‘Time waits for no man’ and the future of the island now relies upon attracting tourists. It just so happens that the island has become a Mecca for the wealthy, high-end tourist market; at the expense of the backpacker fraternity.
In terms of the standard of living and longevity of the island as a popular destination, this has to be considered a good thing. Staying in a shack on the beach with no air-conditioning, electricity or hot water and living out of a rucksack, may well be a character-building, exciting, lifetime experience enjoyed by many. But how is attracting such low-spending visitors going to provide sustainability for the island.
Changing attitudes of tourists are what shapes successful destinations and catering to this is what provides a prosperous future. Introducing well-known shop names, restaurant chains and international hotel groups has been the catalyst for the island’s rise in reputation and worldwide attraction.
As the tourist industry has developed and transformed, the real-estate industry has also benefited and improved. Higher expectations ensure better build-standards and improved quality of living. Home buyers no longer accept sub-standard work or just take what’s available. They demand specifications and facilities comparable to properties they could buy elsewhere; especially as prices of homes are now getting higher and higher.
A few years ago a potential buyer may have considered buying a home without a kitchen, hot water or air-conditioning because the price they were paying was so incredibly low compared to properties in other parts of the world. Not any more.
Having said that, a converse viewpoint is that now that so many products and services are available on the island, buyers looking for a bargain or an access point onto the Samui property ladder could buy such a property now and have infinite choices in selecting a new kitchen, bathroom, and so on.
The biggest and most publicised arrivals on Samui have been Thai Airways and the extensive list of international hotel brands that are currently planning, building, or actually opening this year.
The Mandarin Oriental is considering adding Samui to its portfolio of exclusive hotels. Banyan Tree, Intercontinental, Conrad, Sheraton, W Hotel of the Starwood Group, Imperial, X2, D2 from Dusit, Sirimaya Resort (which is part of the Amari Group and will include the opening of the Mantra Restaurant), Sunway Hotels, Tune Hotels, MyQ, and the Hyatt are all at different stages of development. The Four Seasons Resort opened last year and each month new names are announced or rumoured; most recent is the Hard Rock Resort opening in Laem Sett. Additions like this will continue to raise the profile of the island and many of these iconic buildings will become attractions in their own right. Existing hotel groups are also building new hotels or completely renovating their old ones to continue competing for the tourist arrivals.
Real-estate on the island has also been boosted because investment by these top brands builds confidence amongst potential buyers that the future looks bright for Samui.
Such companies carry out extensive research into areas before starting business and, therefore, the fact that so many are coming suggests that the long term prospects for investing in the island are extremely encouraging.
Real-estate and tourism always work hand-in-hand and the property market can be affected on many levels by the success of the island as a tourist destination. Firstly, if more people come to the island, then more people will fall in love with Samui’s considerable charms and want to return. A percentage of returning visitors will look to buy a property here for their own convenience. Secondly, those seeking a purely profitable investment will be encouraged that high rental returns are likely on an island so capable of attracting large numbers of tourists from around the world. And, finally, as the island continues developing and becoming more desirable, and more up-market, land and property prices will rise, making predicted capital growth gains very alluring.
Opening the airport to Thai Airways and potentially to other airlines in the near future will play a significant role in bringing enough tourists in to fill the rising number of available rooms. And Bangkok Airways proposal to start flying directly from locations such as Dubai and Shanghai will also have a significant impact on the number of new arrivals.
So it seems that the face of Samui will continue to keep changing and in the next year or so it’s probable that there’ll be enough new companies choosing Samui to provide the basis for another similar article to this one. |
