China and Russia consumers flock to luxurious houses in Southeast Asian resorts

BANGKOK/HANOI — Resort areas in Southeast Asia have emerged as luxurious housing scorching spots, with main builders pursuing massive tasks in locations just like the Thai island of Phuket that cater to rich folks from China and Russia who’re planning long-term stays.

At a development website a 10-minute stroll from luxurious resorts on Bang Tao Seaside in western Phuket, a banner says, “The place to be is now the place to reside,” the promoting slogan of luxurious condominiums bearing the boutique resort model The Customary.