Patong Property Price Rises, Beachfront Resort Grows

PHUKET: The owner of the Phuket Graceland Resort and Spa has paid 300 million baht for a strip of property on Patong's beachfront.

New buildings on the real estate block have been demolished to make way for an enlargement of the resort.

The expansion will cost 50 million baht once complete and include an Irish bar on the ground floor, with a Thai restaurant above and an egg-shaped function room on top.

There were 18 units in the now-demolished properties, which had just been finished when a deal was done by the owners, Jee Teng, to sell them for 300 million baht to the resort.

The dimensions of the property and the deal indicate that the price of Patong land - especially on the beachfront, where values are among the highest on Phuket - continues to rise.

The recent addition of a Sunset Wing has taken the Phuket Graceland Resort and Spa to 600 units, set around four swimming pools, towards the northern perimeter of Patong beach.