Reaching your investment property in Thailand could become easier over the next few years. Plans for a brand new state run airport on Koh Samui are being considered by the Thai Transport Ministry as an alternative to the existing privately run facility.
The move aims to end the airport monopoly on the island and would provide a boost to the local economy and property market. If youÃ¢â¬â¢re thinking of buying property in Thailand, this new airport could increase tourism and therefore rental potential. It may also make it easier for you to reach your overseas home. Keep reading to learn more.
Existing airportÃ¢â¬â¢s facilities too limited to cope with tourist demand
The existing Samui airport is not ready for expansion due to its close proximity to residential areas and has received complaints about its high airport fees. There are also limits in place to the number of flights to control noise pollution.
Transport Minister Jarupong Ruangsuwan said the new airport construction plan is aimed at promoting price competition and ending the monopoly on the airport service in the resort island. Increasing tourist numbers are also putting intense pressure on the limited airport facilities.
Samui Airport is privately owned and operated by Bangkok Airways who operate most flights to and from the island are operated by Bangkok Airways. Thai Airways international began flights to Samui in February 2008.
A source at the Department of Civil Aviation said that there were both supporters and opponents of the project. A new airport would end the monopoly and help drive the regionÃ¢â¬â¢s tourism levels and local economy. However, opponents of the scheme are concerned that temples and communities close to the airport would be affected by noise pollution.
Nick Marr, director of international real estate portal HomesGoFast.com said: Ã¢â¬ÅA new airport on Koh Samui would certainly provide a boost to the local property market. Making it easier to reach the island would attract foreign buyers looking for a sound overseas investment.Ã¢â¬Â