newpennbattle3| Banyan Tree invests another US$2 billion in residential real estate to build Phuket's largest residential project

Interface News reporter | Wang Tingting

Five-day short holiday increases the popularity of medium-and long-term tourismNewpennbattle3, especially outbound travel. According to the "May Day holiday weather vane" released by Flying Pig platform, outbound travel has seen a peak of bookings this year, with bookings for related services achieving a strong growth of nearly 2024 on the basis of a rapid rebound last year.

From the destination point of view, Ctrip data show that this year's May Day holiday, Japan, Thailand, South Korea, Malaysia and Singapore are the top five popular destinations.

There is no doubt that since the entry into force of the Sino-Thai visa abolition agreement on March 1 this year, the enthusiasm of Chinese people to travel to Thailand has further increased. According to figures released by the Thai Ministry of Tourism and Sports, between January 1 and April 21, a total of 1129Newpennbattle3More than 70,000 foreign tourists arrived in Thailand, with China having the largest number of tourists, with 2.152 million, followed by Malaysia (1.467 million), Russia (727000), South Korea (643000) and India (587000).

The inbound and outbound tourism market is fully recovering, bringing strong demand for residential real estate once again. Not long ago, the Banyan Banyan Group, the "top" of the hotel industry, announced that it would invest US $2 billion to develop a large residential community in Phuket, Thailand, adjacent to the Banyan Group Phujile Gulang Resort.

Recently, Banyan Group said in an interview with Interface News that Banyan Group's thinking about Phuket from a lively tourist attraction to a livable place is a decision made on the basis of gradually observing changes in market demand.

"especially in recent years, we have noticed that more and more tourists choose to live in Phuket and put forward higher requirements for the local quality of life and amenities. These observations make us realize that Phuket is not only a tourist destination, but also an ideal place to live. " Banyan Group said.

In addition, post-epidemic lifestyle changes, such as fleeing the city, telecommuting and returning to living together for several generations, have led to a sharp increase in demand for luxury housing in Phuket. In recent years, the number of global immigrants in Thailand has also reached an all-time high.

Phuket is not only the most popular resort in Asia, it has a pleasant climate all year round, with 13 international schools, 4 docks, quality hospitals and 40% of the world's population can be reached by direct flights within 5-6 hours. It has become the island of Mallorca in Asia, attracting people from all over the world to settle down. " The Banyan Group told Interface News.

According to the Banyan Group, the residential community to be developed this time will target all market segments to meet the needs of different customer groups, including people-friendly to mid-range, high-end and luxury housing needs.

As a result, the elegance of Laku Langxi Lake ranges from economical apartments to upscale apartments with private swimming pools, as well as luxury four-bedroom villas facing the lake, which are distributed in five theme areas: lakeside, lagoon, valley, orchard and forest. will be built into the largest independent residential development in Phuket.

According to Banyan Group statistics, at present, families keen on Phuket are mainly from China, Russia, the United Kingdom, Australia, Germany and other countries. 50% of Asian customers have come to live or settle in Phuket, including Hong Kong, Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu and so on.

According to a report released by REIC, foreigners bought 14449 apartments in Thailand in 2023, with a total value of 73.161 billion baht, an increase of 25 per cent and 23.5 per cent respectively. Chinese buyers are the group with the highest number and value, accounting for 45.8% and 46.7% respectively.

"now the implementation of the visa-free policy between China and Thailand has made it convenient for Chinese customers to buy Thai property," Banyan Group told Interface News. The Thai government is also discussing introducing friendly policies to attract overseas investors. For example, in taxation, the right of abode and other areas.

According to it, the project also provides deferred payment, which buyers can carry out in batches over the next few years.

In the view of Banyan Banyan Group, the price of high-quality homes in Phuket is still much lower than in the markets of buyers such as Russia, China or Europe, which is an important factor to judge the investment value of the property here.

"overseas home ownership is not only a way of investment, but also a lifestyle choice." The Banyan Group believes that with the increasing pursuit of quality of life and diversified experiences, the enthusiasm for overseas home ownership will persist and may further expand.

The premise is to keep an eye on the Thai property market.

The Banyan Group said that it is believed that more and more people will choose to live, work and their children's international education in Thailand because of Thailand's natural tropical scenery, friendly prices, warm and comfortable climate, rather than just short-term tourism. in the end, it will also promote the sustainable development of real estate.

So far, Banyan Group has more than 70 hotels and resorts, more than 60 Spa centers and arts pavilions, and 14 residential and other industrial territories in more than 20 countries.