Ko Samui is one of the most popular islands when foreigners decide to visit or relocating to Thailand.
With a population of almost 65,000 people, it’s still fairly big for being just that, an island. Just making a comparison, in Hua Hin (which is a city 2-3 hours away from Bangkok) you have 85,000 and in Phi Phi Islands 2,500.
Previously relying on fishing and agriculture, exporting many coconuts, the tourism industry has taken over since the 80’s.
In this interview, Harry Bonning from Ko Samui Properties tell us a bit more about Ko Samui’s property market and other useful information. The Real Estate agency is one of the most reputable and has helped many foreigners to buy property in Ko Samui.
Harry has been on the ground for years and provide fruitful advice if you plan to buy property in Ko Samui.
Harry, thanks for having you here. Can you please tell us about your background and current business in Ko Samui?
I have been a Chartered Surveyor since I qualified in the UK in 1974 and have worked in the UK, Germany and Abu Dhabi with responsibility for a large portfolio of property in the USA, owned by a Sovereign Wealth Fund.
I have also worked subsequently as General Manager of a portfolio of properties owned by one of the local families before moving to Thailand in 1999.
I saw an opportunity in 2000 for a professional real estate agency in Koh Samui and for the first seven years we were extremely successful. The economic crash of 2007/8 brought the market to a standstill for a time and we reduced our staffing accordingly to correspond to the reduced demand.
In Phuket, the property market relies heavily on foreigners and prices aren’t predicted to increase significantly in the coming years. How has Ko Samui’s real estate market performed and what’s your view on the coming years?
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