Recent press covering the “Pearl of the Andaman” has not been positive. However, there are persuasive reasons why this negativity will be short-lived. With significant tailwinds driving the island’s visitor numbers, the underlying market fundamentals suggest that Phuket will weather the storm and continue its maturation as one of the world’s premier tourist destinations.

Thanks to our exclusive Hirafu Listings Database, detailing the real estate market fundamentals of the area, we are able to assess the characteristics of this promising market. In this edition, we aim to analyze the types of property on the market in Niseko, their relative prices and the general real estate trends in Hirafu.

In our last edition of the Niseko brief, we outlined how newer developments are being put on the market at a higher price point indicating that Niseko’s real estate market is changing to accommodate a wealthier demographic. We concluded that Niseko is becoming more luxurious and will continue to be, based on the current and planned construction projects in the area.