During the monsoon season in Southeast Asia, it rains almost every day. The hotels are empty, the beaches are bare and only a few people can be found in the restaurants around town. During off season is a great time to buy island properties because developers will offer bigger discounts.
Now, while in low season here in Phuket, Thailand is no different. Locals like the quiet season as a time to relax and recharge before the next high season. The real estate market is quiet like every other business. Developers are hungry to make a sale if they are overextended on their loans and are willing to take a discount to move a property or properties are aren't selling well.
During high season, you're hard pressed to find a hotel or a guesthouse that isn't full in Phuket. Tourists are in the streets, many bars, shops and cafes around the island. The roads are congested with cars, busses and tuk-tuks taking people here and there. Developers have plenty of customers knocking at their doors looking to buy properties.
Depending on what time of year, most local Thai and foreign property owners will take an increase in property prices at the end of the year. There is a nice shoulder season starting in October thru November where the chance of rain is a lot less and the weather is still very nice. It's a great time of the year to Visit the Island because the big crowds haven't starting coming yet and room rates are still generally low.
This shoulder season is a great time to visit the island and look at properties to purchase. You're a new arrival for high season but on last year's prices. This is a great time to buy a property before new price increases are out.
Most other businesses like cement, concrete, steel, labor and other industries also increase after New Years so it's very natural to raise the prices on finished houses, lots or apartments in Phuket after the New Year. Property values usually get a new assessment at the New Year also.
Phuket, Thailand property market isn't the one area that does price increasing at New Years. I am told this has been a Chinese tradition that gone on for centuries. With the passing of every New Year, Chinese like to increase what they have by taking a small increase in prices. Thailand, Malaysia, Singapore Hong Kong and even the Philippines like to take New Years increases.
Buying before contractors and developers are looking at new increases is a good way to purchase. If a property holder is selling a real estate property they will be less likely to take a discount when they are faced with higher costs on all other fronts. Buying just coming out of the low season is smart investing for the property investor big or small. Visiting Phuket during Shoulder season is a great time to visit and a wonderful time to invest in your dream property.
