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Features : January 2009

David Wade

"Phuket may be the next Monaco. It’s that big, and it’s nowhere near finished."

David Wade

How did you come to start your business in Phuket?
I originally visited Phuket as a tourist but it was not until I came to look to buy a home with the intention of spending 4 to 6 months of the year here that I realized how unprofessional the real estate business was here at that time. I should add that was five years ago and the market has become much more sophisticated since then. Once I made the decision to live here a year later the real estate business was the obvious choice as that was my background.

Have you always been in the Real Estate business?
My very first job was in the Planning Department of the then newly opened Land Registry Department in the UK which seems a very long time ago. Since then I have been involved in construction, development and real estate sales and management in the UK, Europe, the Middle East and now S.E. Asia. I still maintain interests in the UK and the Middle East and we are just opening an office in Dubai specifically aimed at the Thailand market.

You say that the Phuket market fascinates you. Why?
Of all the places I have worked I have never known a market that is truly global, that is to say that it appeals to clients worldwide. Every other market depends upon one group or another, Spain relies very much upon the UK and western Europe for its clients, Central and South America and the Caribbean relies upon the USA, and Dubai relies heavily upon other middle eastern countries like Saudi Arabia and Bahrain for much of its investment and to a lesser extent the UK. Since opening for business I have sold to clients from as far flung destinations as Equador, Mongolia, Romania and Japan as well as the more traditional buyers from the UK, Europe, Russia, Australia, USA and Canada and of course Hong Kong and Singapore.

Many people complain that Phuket is being spoilt. Do you agree?
There will always be those who expect Phuket to be a tropical island and nothing more. The world is full of destinations that meet those requirements but for most people after a couple of weeks they would be ready to go home. Phuket is a very real home to Thais and ex-pats as well and provides both with all the amenities that one needs to live without feeling homesick. The infrastructure is being improved at a rapid pace and should further improve the quality of life for those living and visiting here but this does involve necessary disruption. The fact is Phuket remains a beautiful tropical island with outstanding beaches, magnificent forestry and mountains, and yet is still for the large part untouched. What morecould you ask for?

Land prices have sky-rocketed in recent years. Is this a bubble and will our market be affected by the U. S. sub-prime crisis?
become more exposed to international demand so it's inevitable that prices will rise though I certainly wouldn’t have said sky-rocketed. Land prices on Phuket are still a fraction of comparable land in Europe. Over the past 20 years of course it would seem that prices have increased dramatically but that is because Phuket was still a little known destination at that time. Prices would need to increase considerably before I would even worry about a bubble forming. I think it is inevitable that any market will be affected by the global financial issues that were started by the US sub-prime crisis but Phuket is least likely to be so. Firstly there is a virtual absence of credit here but mostly we sell to every corner of the globe. There are some who will surely benefit from the crisis.

Your business Tropical Homes has been phenomenally successful. Why?
If that is so and they are your words, not mine, it is because we offer a complete service. I’d say professionalism is the key and then experience always helps. There is much more to the Real Estate business than just putting up 'For Sale' signs. We have a world-wide network of industry contacts, a superior client list and a cutting edge website - constantly polished and updated by our own in-house IT manager. We research every developer and future developments before offering their products so the client can buy with security and safety. Clients trust us to protect their interests and we will go to extreme lengths to satisfy them. We are also able to negotiate bigger discounts for our clients and investors than they would by approaching the developer directly because of our close working relationship with the developers. I call it “going the extra mile’, the extra km doesn’t sound quite the same.

What do you like most about living in Phuket?
The usual things; the people, the service, the spectacular scenery and the diversity of culture. There is very little I can say I don’t like about living here.

Do you miss UK?
More Europe than UK I think. I do like to soak up the culture and atmosphere of the wonderful continental cities like Paris, Rome and Barcelona. Still it’s only a few hours flight away and I go back about twice a year. After a couple of weeks I am glad to be back though.

What have you learnt after 30 years?
That there is still a lot more to learn! It took me a long time to truly appreciate the power of the internet for instance which now it would be impossible to envisage being without. It was like going back to school for me. I have however learned a lot, the University of Life is still the best, its just one hell of a long course!

For more information on
Tropical Homes Real Estate
visit www.tropical-homes.net or contact at info@tropical-homes.net
Tel: +66 (0)76 326125, +66 (0)81 787 1108, +66 (0)81 808 8896

 

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