Phuket Real Estate Revealed: Highlights from Phuket Connect Event 

Phuket, Thailand - Amidst a backdrop of excitement and anticipation, Phuket Connect unfolded on the 29th of March at The Amora Beach Resort Phuket. Presented by PropertyGuru Asia Property Awards, DDproperty in partnership with C9 Hotelworks and HLB Thailand, this vibrant occasion not only marked the unveiling of the 19th Annual PropertyGuru Thailand Property Awards but also served as an opportunity to delve deep into the dynamic Phuket Real Estate Market. 

Phuket's ascension as a global leader in the leisure branded residences real estate market, boasting properties valued at over USD 2.3 billion, according to recent data from C9 Hotelworks, has captured the attention of investors worldwide. This notable achievement underscores the island's growing prominence in the real estate sector, driven by a surge in demand and a strategic focus on leisure-branded properties. 

Bill Barnett, Managing Director of C9 Hotelworks, provided compelling insights into the shifting investment landscape, remarking that "post-pandemic, we have witnessed a shift in investment sentiment from hospitality to mixed-use projects. A surge of Thai-listed real estate groups has returned to Phuket, encouraged by a revitalized resort market and stabilized tourism." Barnett emphasized the growing appeal for developers, citing "soaring demand from affluent overseas and domestic buyers relocating to the island or seeking branded properties as a secure investment." 

This dynamic environment underscores Phuket's resilience and attractiveness as a real estate destination amidst evolving global trends. More information can be found here.

Paul Ashburn of HLB Thailand shared valuable insights into the tax benefits for long-term resident (LTR) visa holders during the Phuket connect event. Since the inception of the LTR visa program 18 months ago, over 6,500 visa applications have been processed, indicating its significant appeal. Designed to attract high-potential individuals to live and conduct business in Thailand, the program offers various benefits including a 10-year stay, tax advantages, and legal authorization to work in the country. Paul highlighted that the visa targets wealthy global citizens, pensioners, remote working professionals, and highly skilled professionals, making it an attractive option for those seeking to invest or settle in Thailand. 

For more information on the LTR visa program and how to qualify can be found on our website https://www.hlbthai.com/thailand-long-term-resident-ltr-visa/  

The 19th Annual PropertyGuru Thailand Property Awards is set to take place at The Athenee Hotel, a Luxury Collection Hotel, Bangkok. Submissions from the industry and the public are being accepted via https://www.asiapropertyawards.com/en/nominations/  until July 5, 2024. Moreover, the Regional Grand Final Gala Presentation is slated to be held in Bangkok on December 13, 2024. 

HLB International proudly continues its role as the official supervisor of the PropertyGuru Asia Property Awards for the fourth consecutive year. This responsibility extends to overseeing the 15-plus markets that are part of this year's Asia Property Awards program, demonstrating our commitment to excellence on a regional scale. 

About HLB Thailand

HLB Thailand has a long tradition of serving international and local clients and today is one of the leading international accountings and advisory firms in Thailand specifically in Bangkok and Phuket.

We are one of only 30 audit firms in Thailand approved by the SEC to audit entities in Thailand’s capital markets. The approval follows a thorough review by the SEC of our audit quality control system to ensure our compliance with the International Standard on Quality Control 1 (ISQC 1).

About HLB 

HLB International is a global network of independent professional accounting firms and business advisers. Formed in 1969, we service clients through our member firms in 158 countries, with 29,363 partners and staff in 795 offices worldwide. 

Learn more about us and tell us what matters to you by visiting www.hlb.global 

HLB refers to the HLB International network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.hlb.global/legal for further details. 

About C9 Hotelworks 

C9 Hotelworks is led by founder and Managing Director Bill Barnett, who brings over 30 years’ experience in the Asian hospitality and real estate sectors. Prior to founding C9 in 2003, Bill held senior executive roles in hotel operations, development, and asset management. He is considered a leading global authority on hotel residences and has sat at almost every seat around the hospitality and real estate table. Bill promotes industry insight through regular conference presentations at key events and contributes to numerous industry publications. For more information contact www.c9hotelworks.com 

About PropertyGuru Group 

Established in 2005, the PropertyGuru Thailand Property Awards is known as the longest-running real estate awards programme of its kind in Thailand. The PropertyGuru Thailand Property Awards originated the PropertyGuru Asia Property Awards series, which has expanded over the years to cover 18 dynamic real estate markets, including Australia, the Chinese territories, Japan, India, and Sri Lanka. 

As the Official Supervisor of the PropertyGuru Asia Property Awards, a representative from the local HLB office will be involved in all stages of the judging process to ensure that everything and everyone abides by the standards, from reviewing completed entry forms to participating in all judges’ meetings, to joining virtual or physical site inspections, and approving the results.