Before the nineties, the economy in Koh Samui came mainly from fishing and crop production (apparently the coconut played a big part in this!) Since then however, things have progressed rapidly and Koh Samui’s economy is now home to a flourishing, prosperous scene.
The main reason behind this mass growth has been the rise of the tourism industry and the public interest in Thailand and its surrounding islands. Because of this, the property market in Koh Samui has unquestionably grown over the past 30 plus years. In fact, ever since around 1980, the beautiful island has gone from an anonymous, relatively undiscovered sandy paradise to the next big, buzzing, thriving place to be for thousands of tourists.
As soon as you step off of the plane, you will soon discover as to why this has developed into such a hub for holidaymakers and property owners alike, and why exactly it has become so popular in recent years.
Like the majority of places that are attracting thousands of tourists ever year, Koh Samui has seen a rise in job prospects and therefore an improvement in living standards in general. This is why there has not only has been a need for extra housing to be built, but also better housing.
All types of housing has been built to accommodate the ever-soaring population and the yearly visitors. Be this villas, apartments, flats, hotels, hostels, bungalows or even the humble house itself. The important thing is, that whilst Koh Samui is currently undergoing a state of progression, that it’s still a sacred, panoramic eden of sorts with a natural sweetness. At the heart of its modernisation is the unspoiled white beaches and the sizzling weather. This is what makes it unique.
The growing property market on Koh Samui has furthermore been boosted by simple things such as a very reliable and quick Internet connection, bringing with it hoards of Internet-managed businesses that can now work smoothly from this charming island without any interruptions. One of the great things about this simple transition into the modern era is that with new businesses moving into the area, it has a positive domino effect on the whole of the islands economics. New businesses means new employees, which means a greater need for housing, so the property market, again, naturally grows. With new employee’s moving onto the island, this also has a constructive reaction to Koh Samui’s established businesses, as with the ‘supply and demand’ rule, profits will easily soar.
Another factor that has seen an abundance of investment and new money has been the diversity of the people themselves. With the rise in the new businesses that we’ve mentioned, and the fresh, enthusiastic crowd that have settled on the island, the diversity itself is attracting financial backers that are wanting to build on the scorching utopia.
The point is, that with Koh Samui’s economy in such good shape, and with properties being in an increasingly high-demand, now is a great time to invest in your property.