Phuket Apartment & Condo Research

Phuket Apartment and Condo Research: Data Source This is an extract of the CB Richard Ellis Phuket Property Report, is a quarterly subscription report. The report brings professional analysis and transparency to the growing Phuket property market which can, for the right projects, generate some of the highest returns in Thailand. Full Phuket Property report Phuket apartment listings Phuket condominium listings The Phuket apartment and condominium section of the report provides detailed information and analysis from CB Richard Ellis' comprehensive and unrivaled Phuket and Thailand property databases, combined with our own exhaustive market and property surveys, coupled with the latest and most reliable secondary data from governmental agencies and private operators. The reliability and value of the research is the market understanding and expert opinion drawn from over 20 years of CB Richard Ellis' full-scale operations in Thailand. The data focuses specifically on the Phuket apartment and condo market - specifically focusing on apartment, and condominium information.

Phuket Apartment & Condominium Classifications For the purposes of this report, we have combined freehold condominiums, leasehold condominiums and leasehold apartments. We classify apartments into four categories based on price per apartment. Classifications are based on the maximum number of apartments in a project that fall into a category; for example, a project with three luxury, five high-end and two midrange apartments would have all units classified as high-end, because we consider the project to be high-end, since the highest number of apartments in the project are high-end. Luxury Above THB 35 million High End Between THB 20-35 million Mid-range Between THB 10-20 million Entry-level Below THB 10 million A Phuket Apartment / Condominium that is high-end and above generally demonstrates common characteristics such as: Good panoramic sea view Easily accessible locations Good and secure neighborhoods, ensuring privacy of residents Good building design, layout and decoration Good standard of construction using high-quality materials and specifications Comprehensive range of facilities, including swimming pool, gym, and/or squash and tennis courts, etc. Adequate elevators and efficient M&E system Professional management / Hotel management Rental program provided

Phuket Property areas: Definition West Coast (North) Northern area along the West Coast, including Mai Khao Beach and Nai Yang Beach West Coast (Central) Central area along the West Coast, including Nai Thon Beach, Bang Tao Beach, Surin Beach and Kamala Beach West Coast(South) Southern area along the West Coast, including Patong Beach, Karon Beach, Kata Beach, Kata Noi Beach and Nai Harn Beach East Coast (North) Northern area along the East Coast, from Sarasin Bridge to Siray Island East Coast (South) Southern area along the East Coast including Phuket Bay, Ao Chalong and Rawai Beaches Inland Area in the island’s center

Phuket Apartment & Condominium - Quarterly Highlights The average asking price (for primary sales) was THB 14.2 million per unit. The number of completed resort condominiums as at Q3 2011reached 3,600 units, up 36% Y-o-Y and 9% Q-o-Q. 71% of total resort condominium units (completed, under construction, and planned) have been sold.   Phuket Apartment & Condominium Supply Prior to 1990 there were almost no condominiums for sale in Phuket as the island was still relatively unknown as a resort destination.  The first condominiums entered the market in the early nineties in the Kalim area but there was still virtually no activity until the development of the Allamanda project at Laguna.  This report tracks the trends in the condominium market from 2004 to present.  At the base year for our analysis, the total condominium supply was estimated to be 583 units.  As Phuket’s popularity increased as both a tourist and resort home destination, so too did the condominium supply, with annual new completions peaking in 2006 when 587 units were completed in the one year. In this quarter, the completion of The Unity (51 units), the Panorama condominium (19 units), The Art@Patong (173 units) and The Lofts at Laguna Village (55 units) has resulted in an increase in the total supply of completed resort condominiums of 9% Q-o-Q and 34% Y-o-Y.