"In the week following the coup, CB Richard Ellis received instructions to acquire land for developments in Phuket and Phang Nga and inspected several prime sites with investors seeking to develop resort properties," said Simister.

"CB Richard Ellis ... introduced Kingdom Hotel Investments and European Hotel Corp Ltd to the 66-acre (26.71 hectare) site that they secured last week in Phang Nga, on which they are planning to develop the US$115-million (Bt4.32 billion) Raffles Phang Nga Resort and Residences. Also in the Phuket area, Destination Properties concluded their purchase of the 125-room Fenix Resort in Karon on the day of the coup. In addition, CB Richard Ellis is currently dealing with a number of overseas purchasers wishing to buy residences priced in excess of $3 million."

Barama Bay, a private island off the east coast of Phuket offering custom-made residences, and Trisara, a development with panoramic sea views, are two luxury projects that wealthy purchasers are looking at. They offer the crucial ingredients of privacy, location and access to services.

"The property markets in Phuket and other resort areas are thriving and show no signs of slowing down. Properties continue to reach new pricing points, with individual villas selling at over $10 million and condominiums selling for up to $1.4 million in Phuket," said Simister.

Phuket is not only attractive to the top end of the market. Many property developments are offering good capital-appreciation prospects at several price levels, especially in newer areas like the eastern coast of Phuket, Phang Nga or Krabi.