Construction for the first airport in Koh Phangan is now fully underway and looks on target for its forecast completion at the end of 2014. The runways are being laid and the construction of the terminal buildings has started.
It is hard to anticipate exactly how the new airport will impact the island’s already booming tourist economy. However, it is clear that getting to Koh Phangan will be easier, and the island will become more attractive to those investors looking for an easily accessible get-away destination for a luxury villa or second holiday home, or even simply to buy and hold land for price appreciation.
Already, noteworthy new infrastructure projects have commenced, for example the new Macro superstore, the improvement of the road network, numerous new real estate or villa projects. In addition, according to recent press reports, there are one or more major luxury holiday chains eyeing the area as a potential development spot for luxury resorts. Likely spots cited are Bottle Beach and Haad Yao (East) which are both deserted, tropical beaches (currently only accessible by boat) which will be less than a 10 minute drive from the new airport.
Koh Phangan offers everything for the perfect holiday home –sunshine all year round, beautiful beaches, turquoise waters, amazing food and laid back lifestyle. Previously, the only drawback for some holidaymakers was the additional boat journey. Now that overall travelling time has been reduced it is predicted to have a significant impact on the real estate market in Koh Phangan. Land prices continue to rise.