Development on Thailand's southern resort island is gathering pace, with foreign investment inflows driving up prices, writes Chris Oliver Phuket real estate draws international jet set.

(From South China Morning Post)

Hundreds of holiday-makers queue up at customs in the arrivals hall of Phuket International Airport. Immigration officials examine each travel document in detail, a painstaking process that draws impatient looks from travellers.

It is clear the island's days as a sleepy tropical getaway are over. More than 72 flights a week bring passengers to Phuket from around South Asia, Japan, Korea, Taiwan and Europe. Charters from some European cities even make the 14-hour flight direct.

Five million visitors pass through the airport every year on their way to tropical holidays and, more often these days, to buy a piece of Thailand's southern resort island.

Among Phuket's newer residents is American golfer Nick Faldo, who bought a golf condominium during a stopover to a tournament in Australia.

Development on Phuket is gathering pace, with interest from big hotel groups and steady foreign investment inflows boosting upscale property prices.

The trend is a reversal of the deflation that followed the 1997 financial crisis, when …