Koh Samui, about 20 miles from mainland Thailand, is part of the southern Surat Thani Province, known for its rubber trees and coconut plantations. The Santikhiri Estate, on its southern shore, offers residents a pool, a clubhouse and a hilltop yoga studio. The gated development is close to several spas and wellness centers, restaurants and beaches. Samui International Airport, on the northeastern side of Koh Samui, is about a 40-minute drive. Nathon Pier, the main ferry port, is about half an hour away, and Bangkok is about 475 miles north.
Prices for single-family detached houses (excluding land), condos and townhouses in Thailand have grown steadily since the 2008 global recession, according to recent housing data from the Bank of Thailand.
Koh Samui is seeing similar growth, agents said. “Mirroring Bangkok to some extent, the upper-tier homes in well-maintained estates are maintaining and increasing in value, and the lower end of the market is steadily attracting young or more budget-conscious buyers,” Mr. Skevington said.
As monsoon season draws to a close in December, agents expect home sales to pick up and continue to grow through February. “That is high season in Thailand, and many people look for vacation homes during that period,” said Benjamin W. Hart, the managing director of Integrity Legal, which has offices in Bangkok and the United States.
Koh Samui is often regarded as a low-key alternative to tourist spots like Phuket, Thailand’s largest island. Tourists are drawn to Samui’s 88 square miles of diverse geography, from its white-sand beaches to its coconut groves and mountainous rain forests.
John Jepson, a founder of Samui Property Locator, said he has seen many new developments in recent years, reflecting rising foreign interest, particularly from the Chinese. “Every year we have new project launches,” he said. “There’s probably 10 to 15 new projects coming on the market since the beginning of this year.”