Press Release: Mangosteen Suites Estate & Pool Villas
“Phuket’s Best Lifestyle Investment”
Phuket’s booming property scene is set to flourish further with the announcement of the unique, seaview Mangosteen Suites Estate and Pool Villas at picturesque Rawai on the island’s far south. Under development and management by the Phuket-based owners of boutique Mangosteen Resort and Spa, the project construction will commence in May 2006.
The fully-managed apartments are complemented by a village ambience complete with breathtaking sea and island views from Koh Bon to Koh Racha, a large courtyard swimming pool, restaurant, bar, bakery, delicatessen and mini-mart. Residents also have full access to facilities at the adjoining resort, including restaurants, pools, fitness centre and spa.
Mangosteen Suites co-owner and developer Hajo von Keller says he searched far and wide for the finest tropical homes architect. Designed by eco-friendly, South-East Asia based, English-trained Gary Fell of GFAB Architects the concept is spacious, open-air living reflecting the lush, tropical environs of Phuket whilst achieving design elements that contribute to the comfort and efficiency of the dwelling.
One unique, environmentally friendly detail of the 4 x one-bedroom residences, 18x two-bedroom, four-tier Mangosteen Suites apartments and two penthouses (both sold) is the use of reflecting pools to form the roofs of buildings, lowering internal temperatures by 5 degrees Celsius. A discreet central air-conditioning system allows for zero air pollution at the estate.
“The Mangosteen Suites will have the highest quality building materials, fittings and equipment available. As owner and developer of the project and adjoining resort, our team sourced the best products available world-wide and the construction is contracted to one of the most reputable firms in Thailand,” says Hajo Von Keller.
Investors of Mangosteen Suites managed apartments are able to vacation for up to 60 days yearly under the management contract with a gross variable 9-13 percent rental return – depending on term of owner occupancy (annual rental return of up to 7 percent is guaranteed). Rental of apartments, for a compulsory minimum of two years, is through the existing 5-star Mangosteen Resort marketing program. As innovative market leaders, Mangosteen Suites has no rental pool but separate rental accounts for each apartment. The estate offers 5-star quality and maintenance with a low common area maintenance fee. Sale prices include all furniture and equipment for the rental scheme. Leasehold and freehold contracts are available.
Nick Anthony, of Phuket-based resort and lifestyle property specialists
Indigo Real Estate, reports high demand for managed estates this past
year as buyers seek solid management to market their properties internationally.
Importantly, and unusually, Mangosteen is offering a guaranteed initial
yield ensuring that the initial start-up period is profitable for owners,
a big plus.
“The returns generated by resort properties historically have been double
the yield offered by stand alone villas with none of the property management
headaches, clear accounting, quick re-sales and full hotel and concierge
services whilst staying there…possibly the perfect beach investment,”
says Nick Anthony.
Mangosteen Resort developers will also commence construction soon on the Gary Fell designed Bali-style Mangosteen Pool Villas – a total of 28x two-and three-bedroom villas ranging in size from 200-250 sqm, each set on 650sqm, all with private swimming pool. Four larger land plots have been reserved for individual designer villas.
“We believe these high-quality lifestyle estates are the future of Phuket and we are offering our investors the best possible quality investments for their own futures,” von Keller adds.
Mangosteen estates are ideally located in Phuket’s south at Rawai, set on a high hillside with sought after south-eastern sea views of beautiful Phang Nga Bay – a boating, snorkelling and diving playground of idyllic islands and coral reefs. The area offers Phuket’s best beaches, scenery, restaurants, bars and is only 20 minutes from the major shopping facilities of Phuket City and 40 minutes from Phuket International Airport.
Prices start from US$328 000
Further information on these properties, as well as other opportunities,
are available from Indigo Real Estate
Telephone: +44 (0)20 7358 4200
Email: ann@indigore.com
www.indigore.com
Notes to the editor: Indigo Real Estate was established in 2002 by Nick
Anthony. Nick has been in Asia since 1991, principally Hong Kong and
saw the need for a luxury residential agency focusing on lifestyle properties.
After a successful career as a stockbroker he formed his own investment
banking group, Indigo Capital in 1997, working with Asian Hedge Funds
and Entrepreneurs across Asia to raise capital, start new funds, build
businesses and structure international operations before moving to the
beaches and turquoise waters of Phuket.
Indigo Real Estate is SE Asia’s premium lifestyle property company and
has built a strong reputation for its straight forward approach and its
commitment to developing international partnerships of the highest calibre.
By Kerrie Hall for Indigo Real Estate
Southern Surprise
By Nick Anthony, Indigo Real Estate
Firstly a confession: I am well known as a crazy traveller and have scoured
the world numerous times in search of holy grails and the ‘new new thing’,
but being a Surin beach-based guy and preferring an old army jeep over
more modern and efficient means of transportation I travel to the south
of Phuket as infrequently as possible.
Yes, it has also been a bias, but I now publicly admit that I have overlooked some very positive developments that have swayed my now positive views. Historically (1980s) getting south of Phuket was pretty arduous; the roads were awful and it became a hotel and holiday destination with few international residents. Fast forward to the 1990s and Kata/Karon boomed with hotels and international holiday-makers. Swarms of restaurants and bars sprang up with all of the associated service businesses and the area boomed.
New roads were cut through the island’s core making travel times quicker and with it more residents moved in. Most hotels were decent 3-4 star establishments with a few old 5-star favourites like The Boathouse, Mon Tri’s and Le Meridien.
Fast forward into early this decade and enter ‘Katamanda’, which set about reversing this trend with quality and design targeting higher end clientele and fed off the success of hoteliers like neighbouring ‘The Boathouse’ that brought in high spending expats and the Hong Kong crowd. Katamanda also was a pioneer in selling luxury residences and launched at a time when there were virtually no west coast residential estates. Today a new trend is quickly emerging and has the potential to rapidly change the nature of the South of Phuket - Kata, Karon, Rawai and Cape Panwa - in just a few years. It’s moving upmarket.
A new four-lane highway through the island’s middle is well underway easing the bottlenecks around the Central department store; seaplanes, choppers and boats all now ply the area; and there are a number of new 5-star hotels either planned, built or under construction, including The Conrad, The Four Seasons, The Taj Exotica, The Mangosteen and Cape Panwa. With this activity it’s no surprise that high quality estates have recently been launched and show many of the winning attributes that have driven house prices on the upper west coast: good design, professional building teams, well-capitalized developers and a range of resort facilities and hotel management, making owning a beach house much more hassle free (and also a return driven investment).
The Mangosteen Suites, 22 ultra modern beach chic apartments by Bali-based Gary Fell, are just being launched and offer sensational ocean views, good prices and an excellent operator coupled with a resort that is already operational and doing well. With a guaranteed yield of up to 7 per cent for the first two years taking the guessing game out of the start-up phase and existing hotel numbers these suites are prime investment properties and will do well.
The Crowne Residences have sold well as they are also well managed and across from the beach. These too are attractive investment properties.
Listed Bangkok developer Raimon Land have set the area alight with heavy marketing, hot design and stunning views with the apartment project the The Heights. Here designer Hans Brouer - who was a Norman Foster protégé - takes living on the edge, to the edge.
Kata Gardens was Raimon’s first project in Kata and is almost sold out and completed in about a year, a solid accomplishment and a salute to Raimon’s first-class management team (and marketing budget!).
Around the corner with elegant eagle’s nest ocean views is Cape Panwa, a nearly completed luxury estate with 3-5 bedroom residences, one bedroom pool villas and a small boutique hotel, with prices attained in excess of US$2 million and large tropical home architecture. These sold quickly off plan. Lastly Tamarind is an exclusive value-for-money oceanfront estate that has a beautiful east coast aspect.
“Go south young man” used to be wise words spoken as solid advice and foresight, and these days in Phuket it’s nice to have new choices and will ensure that the upper west coast boys are kept on their toes with nimble, design savvy and concierge-minded estates.
November 2005
Insight - Property Report
Traditional Thai Transformation
By Steven James King
Phuket is often seen as the epitome of religious harmony with Buddhists, Hindus, Christians and Muslims coexisting peacefully. It could also be said that this harmony can extend into the property market. Located on the trading routes between India and China, Phuket has long been influenced by other cultures. Chinese wats stand proudly near streets lined with Portuguese mansions and over the years Burma, China, India, Sri Lanka and Cambodia have all influenced and melded with Thai architecture.
In traditional Thai architecture local materials such as bamboo and hardwoods have been used to fit in with the demands of the tropical climate. Characteristically slanted roofs and stilts used to raise the houses take into account heavy seasonal rainfall. But modern developments in construction have opened up the possibilities for tropical design.
Tropical Life Company Ltd is involved in every aspect of construction in Phuket. They design, they build and they even make the concrete. David Sterling, Design Coordinator for Tropical Life, is currently working on over a dozen projects ranging from island resorts to lakeside homes. Many of these properties are specifically aimed at consumers who desire 'tropical' designs.
"We create our own projects but we are also commissioned to create projects for other people," says Sterling. "Tropical design and Thai style figure heavily into our customers' demands. They often ask for what are essentially Thai architectural features. Slanted roofs are a key demand. What are seen as traditional Thai roofs actually originate from the north of the country, particularly in Chiang Mai. These sharply curved roofs are aesthetically attractive but are not suited to the southern climate. In Chiang Mai the average rainfall per hour in the monsoon is 100ml while in Phuket it is 315ml. This means we need to use either double pitch or layered pitch roofs."
In terms of the building's skeleton, the use of hardwoods such as teak is no longer appropriate. One of the reasons for this is termites, which present a real danger to anyone who decides to invest in a building supported by wood. The demands of large-scale construction and depleting forestry also mean that hardwoods are neither economically or environmentally friendly.
"We use a reinforced concrete frame to provide stability for the structure," says David. "Visually and in terms of construction, concrete is easy to use and also to conceal. Intelligent design, well-placed plastering and wooden floors help to offer a good looking and sturdy building."
Roofing tiles are another element that is important in Thai architecture. Like other aspects of construction, hardwoods were used traditionally. Demand dramatically outweighs supply of these woods so concrete is now more commonly used. Modern attempts at traditional Thai architecture do not seek to change the style but rather the construction materials. Concrete and bricks can be successfully incorporated into Thai style rather than trying to replace it.
The owner of Mangosteen Suites Estate, Hajo von Keller, went a step further into progressive architectural solutions. Their concept was to reflect modern lifestyles while allowing open-air living. The idea was to have a tropical Asian feel by working with simple materials such as wood and rocks, and balance them with large window surfaces and lots of greenery. Located on a hilltop near Nai Harn beach, the estate has a contemporary tropical style with an unspoilt panorama. Designed by Gary Fell of GFAB Architects, there are several key concepts that were incorporated in the construction.
The entire concept
was based around responsible architectural solutions. Traditional
Thai roofs are not only unsuitable for the climate of Phuket, they
also present a concern in the amount of land the overhang of the
roof seizes. After much analysis, a practical decision was made to
create a different style of roof that not only offered the maximum
space but was also energy efficient.
"With the Mangosteen as with most of our projects,
we have attempted to work with the site's contours to produce
a large building with, I hope, a reduced impact due to its careful
integration with the land," Gary Fell of GFAB said. "We
have made the most of the flat roof to provide roof gardens composed
of pools, decks and planters - aside from the aesthetic benefits
these items act as passive climate controls that help to cool
the building and thus reduce the dependence on mechanical ventilation/ac."
By using reflecting pools and planters to form the roofs of the buildings it is possible to lower internal temperatures by up to five degrees Celsius. The reflecting pools cool the roof surface through evaporation and the planters, through their inert body mass, heat far slower than roofing materials such as concrete or wood. This modern solution is not only energy efficient but visually charming.
The importance of sympathising with the location was inherent to the entire design approach. To stop the project jutting out of the landscape, the decision was made to dig the buildings into the site. The excavated material was then used for wall cladding. Local materials, especially stones and rocks, have also been integrated into the project as a way of creating a symbiosis between the building and the land it occupies. Scenic features such as natural rock formations and trees were deliberately included in the plan.
When questioned about attempts to mimic traditional Thai architecture Gary stated, "I think that "traditional" architecture is one of the more ridiculous propositions I have come across. I am not surprised that the tourism industry has spawned such an approach, it being conservative by nature, it follows that it would foster the idea that a country's 'culture' could be so simplistically interpreted as to reduce it to a particular roof form. And they charge that modern architecture is lazy? I believe that the site determines the building that will go on it."
Bob Speed is Design Director for Tawan Properties and is working on both Maantawan and Chomtawan projects in Phuket, developments that cover a wide range of architectural methods and techniques.
"Traditional Thai architecture is, in the true sense, a combination of lifestyle, religion and climate -and can only be properly applied using traditional materials and craftsmen," he said.
"The comparison between Traditional Thai and Modern is complex - but references can be clearly seen," he said. "It is rare to see a Thai-western fusion that truly addresses all issues. I think the present state of architectural design looks healthy and modern minimalism is becoming more prevalent. Generally people's perception of architecture has changed and more extreme and daring designs have become more acceptable."
Camp Belvedere Maphrao, Adam Bruno's development on Koh Maphrao, is unique in the approach that has been taken. They have followed the paths of modern and traditional design with parallel strides.
"Our first phase will be finished by the middle of November this year," he said. "It will comprise of what could be described as truly traditional Thai architecture and construction, by involving and sourcing labour and supplies from the area. The local population numbers less than 700 and they have built everything. Seven years ago I bought this land and immediately began to plant trees. We have tried our best not to interfere with the forestry. We wanted to increase it rather than deplete it. Simply put it is the trees that hold this hill up. Without them we would face floods and mudslides in the monsoon."
The initial phase is made up purely of traditional style homes. The restaurant and the villas all have bamboo roofs and wooden exteriors. The roofs need to be replaced and the wood lacquered every few years but the aesthetic benefits and the natural climate control of the bamboo roof make this effort worth the while. The second phase of construction will follow a contemporary direction with the homes being built into the ground. The only thing visible of these 'earth houses' will be the gallery style windows. Techniques used will certainly be modern but by reducing the impact on the environment it could be said that these buildings will be more faithful to the surrounding area than any other style of design and construction.
"We will use many different approaches in our development," Bruno said. "The concepts are entirely mine and I feel it is not about which type of architecture is best, it is about how I can use many different styles to create the most attractive, cohesive and sturdy structures without drastically altering the ecology of the area."
Grenville Wilson
of Layan Gardens follows along a similar environmental vein but explains
that their emphasis is on quality rather than stereotypical notions
of 'traditional' or 'modern' architecture.
" As far as we are concerned our designs are 'modern tropical' and designed
for ease and practicality of use and the ability to utilise all space efficiently," he
said. "We believe there is a place for both modern and traditional styles,
but we are more concerned about the quality of the development; its layout, the
use of space; the finishing material and, most importantly, workmanship."
Layan Gardens have gone with a contemporary design because it is the most efficient and most financially attractive to both customers and developers. Cost is often the most important factor in construction. The costs saved by efficient building practices, modern techniques and materials offer profitability and affordability. The levels of interest and the amount of sales of similar projects show that there is large-scale demand for this style of architecture and construction.
But Grenville's opinions stray further than the argument between styles of design pointing out that the size and variety of developments should be seen in an environmental perspective.
"The tsunami put Phuket high on the visibility list and unless developers show great control over the quality of their construction, the Island's reputation could be spoilt," he said. "I feel the same about the beaches and rubbish we see by the side of the roads; this really needs attention so that Phuket attracts more potential buyers. There is no point in having world class schooling, medical facilities, shopping malls and high quality building if the island is used as a rubbish tip."
Danny Matthews, Managing Director of Phuket Property Shop & Business Brokers gave his opinion on market demands for both modern and traditional Thai architecture.
"In terms of competition between modern and traditional Thai architecture I would say that the markets are pretty much even throughout the island," he said. "Traditional Thai designed homes typically represent the higher end market, however, these homes are generally a combination of both, thus recognised and classed as 'Contemporary' Thai Homes or even 'Balinese/Thai style' homes. This fusion is proving to be continually popular. The Thais have for generations been experts at combining cultural trends or themes, whether it be in the kitchen or nowadays in real estate. Variety is the spice of life and Phuket definitely offers value to any would-be buyer regardless of their investment level."
Phuket has never been an island isolated in design and architecture. Modern techniques that combine with Thai approaches to design only serve to enhance the long running architectural fusion of the island. But the prominence of design needs to be accented by care for what is the key attraction of Phuket, the opportunity to invest in a lifestyle of tropical paradise. Increasingly environmentally conscious developments that seek to become a part of the landscape, rather than take it over, seem to offer the best option for both developers and the end customers regardless of any type of architectural straightjacket imposed.
Made in Phuket: five of the island's top designs
SCENIC
Patong Natural Home
This development is unique in the fact that it bucks the trend in the Phuket
property market by focusing on Patong, as well as the nature of the island,
instead of moving east or north. The complex numbers 80 units, each of
which are surrounded by enough trees to ensure privacy. The roofs are wood
carved with special thermal reflectors to offer protection against tropical
heat. The design specifically aims at blending modern aspects of construction
with the nature that draws people to Thailand.
FUTURE MODERN
Lotus Gardens Phuket
Set back from Bangtao Bay, Lotus Gardens is a modern luxury village that
has been designed by HB Design a firm founded by Hans Brouwer, a former
project manager with Sir Norman Foster and Partners. The location is convenient
barely a few minutes walk to Layan Beach. The design is described as "modern
contemporary minimal architecture". The buildings are open plan in
order to create a relaxed atmosphere. The entire project is inspired by
the most modern and up-to-date styles and concepts and offers 26 residential
homes that vary from penthouses to villas.
GIGANTIC
Paradise Bay Marina Resort
This is an ambitious residential resort and marina village on the east
coast cape of Yamoo. The development will include a 5-Star Beach Resort,
a marina village, residential and leisure facilities and a state of the
art technology park. The development stretches over a massive 600 rai of
land. Paradise Heights forms the first phase of the project and covers
45 rai. The marina is a key attraction of the development and will have
several basins and be able to accommodate over 500 yachts. The size of
the project and the comprehensive marina are what will set the complex
apart from other developments on the island.
EXCEPTIONAL
The Mangosteen Suites
The combination of a unique concept mixed with good design has led to the
construction of Mangosteen Suites. It is one of Phuket's first hillside
resorts. Located in the south of the island the concept of the development
is for it to reflect modern lifestyles while offering a tropical feel.
There is a separate resort with restaurant and leisure facilities that
are in a slightly less "modernised" style. The area offers 360
degrees of as yet unspoilt views and is located very close to Nai Harn
beach.
INDIVIDUAL
Camp Belvedere Maphrao
This development consists of a dual mix of traditional Thai houses and
a planned second phase of "earth" houses. The Camp is unique
as it will be the first to be operational on Koh Maphrao, although two
major developments and a proposed bridge to the mainland may soon change
this. The view is protected by a lack of buildable land below and the area
around the Camp has been preserved and the amount of forestry actually
increased, rather than the usual "search and destroy" method.
Link: http://www.property-report.com/archives/november05/insight_traditional_thai_transformation.html
Bangkok Post, BUSINESS NEWS - Monday 27 June 2005
Property investors still eye Phuket
Despite the dramatic downturn in tourism since the tsunami, Phuket's property market has remained stable over the past six months with prices in some segments even rising. "As a result of the tsunami, the media have made Phuket a well-known place. A lot of property investors and buyers are now interested in the market," said Norbert Witthinrich, managing director of the developer SEA Property Phuket Co Ltd.
He said Phuket was still very attractive to European property investors. Villas priced at 10 million baht in Phuket would cost up to 30 million baht in Majorca, Spain's most famous resort island, and compared to London, property prices in Phuket are a bargain. The 46-year-old German developer pointed out that villas in Phuket were especially attractive to two markets. The first is retirees from Europe aged 50-60 years who want to relocate. Villas priced between eight million and 15 million baht are seen as suitable for this group.
The other key market is high net worth individuals from Europe and Hong Kong who want to buy a villa on a resort island to use as a second home. Villas for this group are priced at around US$1 million _ a fraction of their net worth. Mr Witthinrich said houses in Phuket priced at 10 million baht represented a good market with most of the customers being European, especially British.
Last year, Mr Witthinrich set up a joint venture with a local developer to build a 100-unit project on 250 rai located between Chalong and Phuket Town. The 1.5-billion-baht project is called Ban Prangthong. He recently set up another firm called Phuket Nature Home Co, to develop a second joint venture called Phuket Private Lagoon, with another local developer. The new project worth 300 million baht will be located on 22 rai on Chaofah West Road. After its launch in mid-May, 13 townhouse units priced at 4.2 million baht were booked with most of the buyers being local businesspeople.
Thanusak Phuengdet, Phuket Nature Home's managing director, said competition in the Phuket property market was not heavy because each developer was looking to find his own niche. "There now is a slowdown in housing sales but it will likely be for only a short period. Many ongoing property projects in Phuket did not come to a halt after the tsunami. Banks still support developers as they are confident in Phuket's economy," he said.
Meanwhile, land prices on the island have not dropped. A lot of land sales transactions are now taking place, mostly involving newcomers to the market. "New investors optimistically believe that their project investments will be completed before the next peak season in Phuket. Most likely they will take one or two years to complete," said Mr Thanusak.
Phuket Gazette,
09.05.2005
B1.3bn land sale highlights ongoing
land price boom
RAWAI: A site covering almost 150 rai at Laem Ka Beach has been sold for 1.325 billion baht – 8.8 million baht a rai – an indication that Phuket’s continuing land sale boom is far from over. The beachfront site has been bought by US-based Phuket Capital Resort Co Ltd (PCR), which, with the help of a 2.97-billion-baht mortgage from Siam City Bank plc, intends to build a hotel there. PCR, a subsidiary of the Thai arm of international investment bank Lehman Brothers, declined to comment for the time being on its plans for the site.
Beachfront land, or land with a sea view, is in such demand that it is now commanding between seven and 10 million baht a rai, according to Phuket Provincial Land Office (PPLO) Chief Supoj Suwannachote. K. Supoj added that while land is selling all over the island, tracts on the west coast are still in greatest demand, especially from property developers.
“Most of the people investing in land [in Phuket] are property developers,” he told the Gazette. “Around 51 property developers signed contracts at the PPLO during the October 2003-September 2004 financial year and the PPLO collected 900 million baht in taxes and fees. “Already, 26 developers have signed contracts in the first six months of this [fiscal] year and we have collected 487 million baht in taxes and fees.” He continued, “We think there will never be a lack of demand for land for hotels, and maybe people are paying even more than [the prices] we have estimated. I think prices will continue to rise.” People are indeed paying more than the PPLO’s estimates. Bob Andrews, Managing Director of Phuket Land Search, says that land in Patong is changing hands at around 20 million baht a rai.
Larry Cunningham, the Managing Director of PhuketOne Real Estate, agrees, adding that even areas that were not in demand in the past are now becoming attractive to developers. He said, “Phuket is still a small island. Rawai is becoming popular now because, even though it is on the east coast, it has the best beaches on that coast.
“Beachfront land prices have increased 100% over the past three years. In general, property prices have doubled every seven years, but in Phuket the prices have doubled every three years, and I see no reason why prices will not continue to rise.”
By Anongnat Sartpisut
February 2005 - Propert Report
Analysis
UK new HK?
With villa developers on Phuket and Samui increasingly keen to look beyond their traditional Hong Kong and Singapore markets, Knight Frank and Laguna Resorts have announced a London property show in March - will the British be the next big investors in the Thai villa market?
A recent
report by This Is London website found that more than 6 million Britons
are keen to purchase property abroad. The main reasons cited were an
increase in disposable income, low cost flights, overseas lifestyle
TV shows and a general dissatisfaction with the quality of life in
the UK. With such impressive figures, it's not difficult to see why
Knight Frank Phuket and Laguna Resorts & Hotels are planning to
dip a toe in the market with a London show for 14 Banyan Tree Villas.
" We have a lot of offices in London and they are increasingly focusing
their attention on Asia, particularly Phuket," Stephen O'Brien, Managing
Director of Knight Frank Phuket says. "UK buyers see it as a very safe destination
to invest in and we are getting more and more enquiries. They are not only buying
4-5 million Baht properties, but are also spending in the 40-50 million Baht
range. They're obviously buying for a good lifestyle, but are also confident
that when they are not in Thailand, the investment will be working in their favour."
The main challenge for the show will be to tempt buyers away from their traditional holiday home locations in Spain, France and Portugal. O'Brien is confident that this should not be problem.
"The south of Spain and France have come off the boil," he says. "People have been disappointed, have been hurt and have lost money. We hear horror stories of not only buyers loosing money on investment, but also developers fleecing money and robbing them. Whereas coming here, they can deal with a trusted name. Also, many of the UK buyers have unfortunately already had their fingers burnt when buying off plan in Spain or Portugal, so are less likely to do so here."
Another potential drawback will be explaining the sometimes complex legal procedures that are necessary in order to purchase property in Thailand.
"There's going to be a fair bit of education required. Not only on the purchasers part, but also on their legal counsel's part, as contracts aren't as straightforward as they are in the UK," O'Brien says.
In this respect, timeshare properties in Thailand are already having some success with British buyers, as it's a concept of ownership they are familiar with. Marriott Vacation Club, the brand's first foray into Asia, currently has around 20% Club Members (as it terms investors) from the UK. The Allamanda Vacation Club, also part of the Laguna group, has also had strong interest from Britons, although Laguna won't release exact figures.
Both Laguna and Marriott have familiar brands, which could be the key to rapid sales in Britain. Their strong association with Phuket will also help raise the profile of other developers on the island in the UK. This underlines one of the fundamental differences between the Phuket and Samui markets, which has meant that Samui attracts a different kind of investor.
"Samui doesn't have any brands," John Birt, Managing Director of Samui Villas & Homes says. "In reality, the Samui market is very immature compared to Phuket. In all the time we've been in business we've only sold three previously owned houses. Because people can get land on the water's edge on Samui, we find that people in the million-dollar range are buying land themselves and building themselves, which they don't do in Phuket, because beachfront land isn't available. We are currently dealing with over 30 people who are building beachfront homes on individual plots and another 40 doing the same thing in the hills."
Birt
also notes that Samui already has its fair share of speculative buyers
from the UK.
" For example, we have one British investor who has just bought two rai
of beachfront land, site unseen for 16.5 million Baht," he says. "His
logic was quite interesting - he thinks that Europe is heading for a series of
falls. Asia is where it's at and he thinks two things will happen. One, he'll
see capital growth on his investment in Baht terms and two, he sees the Baht
strengthening against European currencies. So he's taking a punt on both investment
growth and foreign exchange."
Interestingly, Birt also estimates that whilst in terms of volume 60% of
SV&H's business comes out of Hong Kong, in terms of value 50% comes from
primarily UK-based private investors. So the British that do make it to Samui
are big spenders.
This could possibly change though if there is a serious downturn in the UK economy, perhaps precipitated by a crash in the property market. Some analysts have speculated that such a crash is now imminent, however, FPD Savills in London have predicted that a gentle slowdown with rises in the coming year of only 2% is more likely. Also, the top end of the London market - houses in Chelsea and Belgravia, and Mayfair town houses - is still very healthy and prices of upwards of US$6 million are now the norm. Given that these buyers are exactly the kind of cash rich investors that Thai developers are chasing, it would appear that their potential for success in the UK market is high. For now though, all eyes will be on London in March to see what the outcome of the Knight Frank/Laguna venture is. Provided, of course, that Hong Kong buyers haven't snapped up all the stock before the show.
Architecture Focus
Samujana Development, Samui, Thailand
Gary Fell, Principal of Gfab Architects on the Samujana development on Koh Samui.
How
did the Samujana commission come about?
Samujana came about principally because the major shareholders in the development
had commissioned me previously to design hotels for them in Cambodia. They
liked what I did for them and we have become close friends. They had been sitting
on the land in Samui for some time, waiting for the correct moment to develop.
What
where the major challenges of the design?
The major challenge is to live up to the site - although I feel I'm one of
the few architects working there who seems to be concerned with this issue.
It's magnificent and I felt it therefore deserved my best work.
Were
there any restrictions placed on your design by the developers or the
geography of the location?
Basically the developer gave me carte blanche but, knowing me, expected a lot.
I elected to treat each house as a unique commission that would be totally
integrated into its individual site and the brief given by said site's purchaser.
No two plots are the same and thus no two houses will be - although it's fair
to say they share certain motifs and details.
Have
you incorporated many Asian elements or motifs into Samujana?
This is the 64-million dollar question and one that I could go on and on about.
For me 'Asian' is a much-misused term. What constitutes Asian? In many cases,
what is meant is shamelessly adding a Thai roof - more accurately Lanna - and
shoehorning the requirements of contemporary living into it. To me this is
merely a styling exercise and thus largely bankrupt as a point of departure
for an architect. I believe our way of living in Asia is very much part of
the design, I also believe that Samui, unlike Bali, for example, has no clearly
definable 'style' to its built culture and thus what an architect has to work
with is the site rather than a set of stylistic codes that define 'Thai', 'Southern
Thai' etc. I have deliberately aimed for an architecture of low impact, one
which whilst contrasting with the natural phenomena such as massive rocks and
ancient trees (and carefully preserving these, even adapting/amending the design
to them), incorporates things such as planters and uses rock gathered from
the site itself as part of the cladding/finishing. In this way, it is envisaged
that the houses will weather and acquire the patina of the site as a whole
and thus blend seamlessly with it: an aesthetic of disappearance if you will.
I would be glad to return in five years and for Samujana's buildings to be
something one has to search for!
How
does it fit into your body of work?
Generally this is the approach I tend to take to most of my commissions. Clearly
where we have to deal with urban situations, our approach may be a little different
but, without exception, we spend time looking at the site, preserving its best
features and heading for an architecture which incorporates certain cultural
precepts without resorting to aping the supposed style. This means we are generally
tied up in the approvals process for longer but once we explain ourselves,
the relevant bodies tend to appreciate why we are taking this approach.
What
is your opinion of design standards on Samui? How does property on
the island compare with tropical villa architecture elsewhere in the
region?
Very poorly. Sorry that's bit glib, but the standard in Bali is higher for
sure - some of the developers there should be ashamed of themselves - they
will know who they are without naming names.
Is
it now time to move away from the traditional Asian style?
I am happy for people to continue doing this indefinitely - intellectually
I have never understood the need for it but from a client perspective it's
whatever floats your boat isn't it? I'm glad I don't live in a world where
everything is designed by Gfab, but equally sometimes when I see a great site
ruined by poor design it breaks my heart.
Gfab was established in 1999 by Gary Fell a London trained architect (UCL Bartlett 1993) who had been working in Bali in a senior capacity on the Four Seasons resort Sayan Bali. Upon completion of the project, Gfab was founded on the strength of a number of projects in Australia and Indonesia. Since then the company has completed projects in Thailand, Cambodia, Vietnam and Spain, as well as in its original base of Indonesia and Australia.
Samujana is located in the northeast of Koh Samui. The site has almost 90m of elevation from beachfront to summit of the hill and has an aspect that takes in the view of the entire island and the small islands located in the Gulf of Thailand beyond. Gfab are designing 26 villas, each tailored to its unique topographical conditions and the requirements of the individual owner. Each villa is set on a 1-rai plot (1,600sqm) within a master plan designed by Gfab. Each villa averages 450sqm living space with private swimming pools.
e:
gfab@gfabarchitects.com
www.gfabarchitects.com
Destination Focus
Phuket property - an infinite boom?
The Phuket property market has survived negative publicity about SARS, the Iraq war, bird flu and violence in the south of Thailand and continues to thrive. Is the market now anywhere near its peak?
By Laura Wilshaw
High-end villas were the original mainstay of the property explosion in Phuket and although their construction rate is not slowing down, the industry is diversifying and there has been a marked change in the style and location of construction.
Condominiums and apartments are rapidly appearing on the island's skyline, mid and lower end villas are being built further inland and marinas are becoming a new focus for property development. In addition, the east coast is now being exploited for its land availability as the last areas of beachfront land on the west coast are acquired.
Condominium building in Phuket is a relatively new trend. Ten years ago, a few ugly high-rises were erected on the west coast, around the Patong area but then the condo market lay dormant. Now though, good quality, well-finished apartments are being constructed all over the island, filling a large gap in the market - the five to fifteen million Baht price range.
With the new trend of condominiums has come a new type of buyer: An influx of European buyers that would normally have considered buying a second or retirement home in the warm climes of Spain, France or Portugal are considering Phuket as a realistic alternative. Property prices and living costs are still much less than in Europe, and apartments require less maintenance than villas. They can also be rented out easily and a condominium can be bought freehold, making re-sale much easier.
Historically, expatriates from Hong Kong and to some extent Singapore have been the dominant group of property buyers in Phuket. While interest from these regions remains relatively strong, Hong Kong's recent rise from the financial doldrums has meant that its residents have been gearing up to re-bolster the economy there, rather than investing overseas. In the meantime, there has been a great deal of interest from elsewhere.
"Expatriates from Hong Kong, Singapore, Shanghai, Tokyo and Dubai are still 60 to 70% of the buyers", Paul Moorhouse, managing director of Andaman Tropical Development Company Ltd says, "but an increasing number of Europeans that would have traditionally bought in Europe are now buying here."
Wayne 'Red' Graham of East West Properties says, "There is also interest from America, Canada, India, and Malaysian Singaporeans. Thais from Bangkok are also purchasing land in Phuket, either to develop or to buy and sit on. There is a lot of activity inland - the last of the beachfront land is being bought and hotel chains are actively looking for the best land and finding themselves having to compromise."
There is a considerable amount of interest from the large hotel chains that have not already invested in Phuket - The Four Seasons and the Peninsula hotels are both making enquiries. With suitable land increasingly hard to find, some hotel chains are buying/managing older properties and refurbishing them, such as The Hilton in Karon, and the Conrad Hotel in Cape Panwa which refurbished a property that was only three years old.
Phuket is not a vast island and it has a finite amount of land for development. As a consequence, there has been a flurry of activity on Phuket's east coast.
Traditionally Phuket's east coast was deemed unfashionable for development but now things are beginning to change. "Developers on the east coast have learned from the mistakes of the west coast - rapid development occurred on the west coast but with a lack of infrastructure. Development is occurring more diligently on the east coast," Sean Power of Power Pacific Consultants says.
Projects are already under construction around Cape Yamu, Ao Por and Cape Panwa and while the east coast does not offer the sandy beaches of the west, it offers stunning views of the topographically dramatic Phang Nga Bay and there is good access to the centre of the island and its amenities - supermarkets, shopping centres and schools.
The east coast also offers an opportunity for marina development, a growth area that the Governor of Phuket is keen to promote. The Boat Lagoon and Yacht Haven are already well established, and the Royal Phuket Marina is under construction. Its accompanying waterside residential properties have sold fast.
At Ao Por, another marina project has recently been announced with space for 100 yachts that would coincide with Government plans to build a 500 metre long pier there, enabling greater access to Phang Nga bay, the surrounding islands and the Krabi region. Gulu Lalvani, Chairman of the Royal Phuket Marina development has allegedly purchased another plot of land for marina development on the island and there are plans for another new marina at Chalong, in the south.
With enough suitable space on the island for more marina development, coupled with the sheltered sailing conditions and stunning sailing area offered by Phang Nga Bay, Phuket is becoming Asia's premier marine centre, and as more marinas are constructed, so too is more property.
Eighteen months ago questions were raised about the validity of investing in Phuket when the Samsara property scandal hit the headlines. Samsara, a luxury villa development being constructed on Phuket's west coast, came under scrutiny when an investigation was launched into the authenticity of the land title. The investigation was part of a government probe into the falsification of land documents throughout the region.
Rather than having a negative effect on investment in Phuket however, the scandal and the corruption allegations surrounding the Land Office has only made potential investors more vigilant. Since then, development on Phuket has occurred with a much greater degree of caution. Developers and buyers are delving deeper into the background of their potential property and are conducting more research. Government investigation into the land scandal was thorough, and suspicions regarding forged documents throughout the region were dealt with effectively.
"Knight Frank certainly hasn't lost a deal as a result of the Samsara scandal. In fact it has educated the market," Stephen O'Brien, Managing Director of Knight Frank Phuket says. "Investors are more aware of what the implications are of investing in property here. Buyers now want a more thorough background search on the property; they want the proper documentation from the beginning. The industry is not denying that Samsara happened - instead it is encouraging investors to research their investment properly. There is a more diligent process occurring."
Government plans to invest heavily in Phuket are welcomed by the developers. "The by-pass road is being widened all the way to the airport and, although a little late, it is being done quickly and without causing congestion," Red Graham says. "The airport runway is being extended in 2005 and the Ao Por Pier project all show that the government is supporting development".
Their encouragement and cooperation is also evident in new measures to ease work permit restrictions for people involved in tech industries - a major step forward in recognition of development in Phuket.
The government's involvement is also noticeable in the precautions implemented to deal with the environmental impact of the property boom. "It is stringent about environmental impact studies being carried out and there are strict building codes and practices that are well governed," says Red Graham.
Certainly the standard of construction for both residential and commercial projects has reached a high level. For commercial projects, strict regulations encourage a strong move away from the chaos and disorder of central Patong. Instead, shopping centres like Central Festival are now the benchmark, representing international standards. In Patong too, a new commercial shopping centre on a 40-acre plot, Jungceylon, looks set to give the area a much-needed facelift. For residential properties, developments with over nine units are required to carry out an environmental impact study, whilst those with over ninety units are obliged to do two studies. Ultimately, design and construction have to be of a high enough standard to satisfy the demands and desires of the European and expatriate buyers.
With the amount of property development on the island, there is the question of Phuket reaching a state of over-supply: more new homes than buyers to fill them. Stephen O'Brien does not believe Phuket has reached that point. If properties are bought off plan then there is a much lower risk of oversupply for the developer. "In many cases, less money is being invested at the beginning of a project - properties aren't constructed until there are buyers. There is healthy supply and demand," he says.
Oversupply could also be avoided if property is of a high standard. "If there is quality in the product there will always be buyers. Mass produced, generic villas that are not of excellent quality could well be over supplied as buyers want high standards, some open space and some individuality," Sean Power of Power Pacific Consultants says.
"The cross section of property available on Phuket means there is now something for everyone", Paul Moorhouse says. There are different tiers and styles available in a range of locations and an increasing international awareness of Phuket has raised the island's profile and encouraged new buyers from Europe, Russia and the US. With high standards of construction and government backing, Phuket is still developing at an extraordinary rate. Indeed as far as many developers are concerned, the boom is only just beginnin
Tourism hit but Phuket is 'open for business'
Ravina Shamdasani in Phuket
Tour companies are desperate for customers on largely unscathed island
Locals and expatriates alike in Phuket are aching to get the message out that most of the island is open for business and unaffected by the tsunami.
Much of the island's economy relies on tourism but tour guides, transport companies, shops, restaurants and hotels have been deprived of high-season earnings in the aftermath of the disaster. More than 90 per cent of Phuket escaped the devastation.
Many tour guides have now become taxi drivers, waiting outside rescue centres to transport foreign embassy staff, relatives of the missing, aid workers and journalists.
Tour operator Malika Rutthapatham of Malika Tours, who relied on Hong Kong tourists for at least 20 per cent of her earnings, said the peak season normally meant fully booked tours for at least three months. Yesterday she had no bookings.
One tour guide, Mr Poo, said he had been relying on peak-season earnings to pay his 20,000 baht (HK$3,970) monthly expenses for his car and house. He had planned to spend New Year's Eve in Chiang Mai with friends but had to cancel the trip to save money.
But one luxury residential property agent in Phuket displayed on his desk 24 new inquiries received from overseas buyers since December 26 - the day the tsunami devastated the west coast. Two of the inquiries were from Hong Kong people.
'Business is fine,' said Nick Anthony, who lived in Hong Kong for 11 years before falling in love with Phuket and moving there in 2002.
'I've had three reservation agreements signed totalling more than US$4 million just this week - post-tsunami - and no cancellations on the 12 contracts I have that are pending due diligence.'
Mr Anthony said he had fielded calls from a few buyers making inquiries about properties based on exaggerated or inaccurate media reports. One had read that Surin Beach had been wiped out, he said, contrary to the fact that it is business as usual there.
'We need to get people to realise that 95 per cent of Phuket is fine. To those who want to help, I tell them to visit Phuket or buy the properties they were intending to buy because Phuket needs tourism and it needs jobs.'
Reconstruction and cleaning work is proceeding rapidly. Patong Beach, which looked like a series of bombs had gone off there last week, looked remarkably better yesterday, with most beachfront shops seemingly undergoing simple renovation work.
Tour guide Paradon Mingpejarn, who has been volunteering to clear the debris from hard-hit areas of Bangtao Beach, reasoned that the sooner he cleaned up the area, the fewer disastrous images the media would be able to transmit overseas.
'I was initially helping to find bodies and now am working on cleaning up the beaches so Phuket can get back to normal, otherwise, the economy will go down and everybody will lose their jobs,' Mr Mingpejarn said as he worked alongside volunteers from England and Australia.
'I think we can fix most things in one month because so many people are working so hard and so well together.'
His optimism is characteristic of the faith most people in Phuket have that this area will be the quickest to recover.
Published on Sep 18, 2004 - The Nation
A Thai-German couple has built a Bt200 million hotel and spa on the summit of a hill in Phuket
Hajo von Keller obviously took his ambitions seriously in building the Mangosteen Resort and Spa on a hilltop in Phuket.
They have spent some Bt200 million to create 40 cosy rooms on 13 rai, together with an infinity pool, a spa , a fitness centre and a sizeable wine cellar.
Many people share a dream of having a resort of their own but few have realised it. From Munich originally, Hajo came to Thailand eight years ago for his import-export business. A few months after his arrival came the 1997 financial crisis, forcing him to struggle for the survival of his business. Eventually he sold it to his best customers and looked for a new opportunity.
“It started off with a dream to have my own resort in Phuket,” says Hajo. He looked around Phuket, every beach and many hills. They even went further to Khao Lak in search of their dream site.
Finally Hajo was urged by his real-estate agent to walk up a bushy hill in Rawai. As he reached the hilltop and beheld a breathtaking sea view, he decided that this was the place. Construction started on the resort in the middle of 2002 and finished last November. The couple came to inspect everything at the site every single day.
It was a perpetual effort to realise their dream. In cooperation with a Swiss architect, they got ideas for villa suites with oriental-style roofs, spacious rooms with big windows, rich fabrics, light wood, a private Jacuzzi room big enough for a party and an MP3 player and flat screen in every room.
Each suite has mellow lighting and is split into two areas, with plush sofas and a king-size bed. White mosquito nets dangle from the ceiling. The style appeals to an upmarket crowd who love the compromise between oriental charm and urban modernity.
Hajo and Ant are glad their guests don’t mind being amid the hills of Phuket. “The unique hilltop location seems to be the key to our charm,” says Hajo.
From their balcony, guests enjoy a view of four bays in southern Phuket and even the outline of the Phi Phi islands on a sunny day.
The resort’s renowned spa plays its part in the relaxation process, with a wide choice of treatments and qualified therapists. The Mangosteen Restaurant is famous for Mediterranean specialities by a Spanish chef. A real treat was a surprise plate of collinelli, with a fine selection of wine to go with it.
Guests at the Mangosteen stroll along quite happily, especially city couples who find it reminiscent of a honeymoon destination. They can take a free shuttle bus to Nai Harn beach every hour during the day or swim in the pool all night.
“When the resort was ready to open, Sars broke out in Asia. So we had a terrible time at the beginning,” says Hajo. But he reports that this year seems to be brighter for Phuket tourism, and his resort has gained a nice mix of guests, both Asian and European.
After spending eight years in Thailand, this German businessman is now a professional hotelier. “As I started from zero, I learned a lot in this business, and I’m getting to love it,” he says.
Next year an extension of 24 suites will be built on an adjacent plot to cater for long-stay guests, says Hajo, adding that this holiday home project leaves him and his family with no time off for some years to come.
“Looking back from when I first came and this was just a bushy hill to what it looks like now, I feel really proud,” says Hajo with a big smile.
Vipasai Niyamabha
The Nation
Taste of the tropics
Mangosteen,
a 40-villa property on a private hill in Phuket relishes on personal
touch
Story and photos by YVONNE BOHWONGPRASERT
A fantastic view and atmosphere in unspoiled nature is what guests can expect
at Mangosteen Resort & Spa.
Exclusive and romantic would best sum up the interior of this villa.
Dedicated to being different could very well be the selling factor that sets
the Mangosteen Resort & Spa, located on a private hillside in the heart
of the South Phuket Island, apart from other jet-setting resorts that have
taken this popular resort destination by storm. Perched atop a hill south
of Chalong, it boasts of spectacular views of the bays of both Nai Harn and
Chalong. Going to the beach is no struggle as a short ride with the resort's
free shuttle bus will transport guests to Nai Harn beach, one of Phuket's
most spectacular beaches that is part of a national park. The Mangosteen
offers a unique combination setting of nature and luxury. With just 40 villa
rooms, I found the boutique-style ambience a perfect antidote for urban dwellers
in search of peace and quiet. For seasoned travelers the family-owned business
could turn out to be a "home away from home" experience for both
families and honeymoon couples as minor details such as privacy and the room
setup gives guests a chance to relax in peace. Owners Kewalee (Ant) & Hajo
von Keller make it a point to be on hand to service their guests like long
time friends.
Located
on 13 rai land, its Longstay and Honeymoon packages also offer attractive
deals that are beginning to get the attention of clients from both
Asia and Europe. The tastefully designed food menu gives guests a balance
of interesting Thai and international dishes to choose from, out of
which I personally found the signature salads with the Mangosteen theme,
the most delicious. Diehard fans of this fruit will be delighted to
know that the F&B team is always finding delightful ways to use
the fruit in various dishes.
The shower head is exotically done.
In operation for over a year, I relished my experience at Mangosteen's Solitude
Spa, located in the centre of the resort. Here again, the theme of the spa
reflects individuality with a Thai influence. The simple yet charming decor,
makes guests feel right at home. There aren't a wide variety of treatments,
but enough to cover the daily requirements of a person. Everything from Thai
Reliever Massage to Mangosteen Magic, with a choice of Body Scrub with Papaya
Honey Wrap are available. Pressed for time, I tried out the Swedish massage,
which pleasantly turned out to be stress-releasing experience. Just beside
the spa is the pool complete with specially treated water, free of chemicals.
I found the luxury boutique resort's villa rooms to have some of the most eye-catching interior designs reflecting a combination Asian themes. The uniqueness of these villas is in that they manage to set the mood for guests to feel right at home. The management is in the process of adding new items to improve room amenities. However, what took my complete attention was the focus on using items under One Tambon One Product (OTOP) scheme, especially chemical free mangosteen soap bars.
While the rooms are delightful, I was mesmerized by the outside garden bathroom. Each of their 24 exclusively private and romantic superior villa rooms are cleverly designed to maximum the benefit of having tropical gardens surrounding each villa. Twelve out of these have private Jacuzzi.
My favourite area in the villa was the bathroom. And not for the sole reason that I could enjoy the Jacuzzi in the setting of a private garden. I found bathrooms in the deluxe rooms grand. Separated by a glass door and window, guests can either enjoy the outdoor Jacuzzi with a beachfront setting, or take a rain shower in the privacy of the spacious bathroom.
To guarantee complete privacy and comfort, each villa has separate sitting area with sofa, a terrace with hammock or balcony and a private garden to ensure that guests are able to lay back and relax. All the ten Royal villa rooms are fitted with private Jacuzzi. Out of the six deluxe villa rooms, four are with private Jacuzzi. From personal experience I found the villas to be naturally cool. Mangosteen also has meeting facilities that can accommodate up to 60 people.
Hajo and Kewalee, both of whom have no previous experience in hotel management, have come a long way since weathering the fallout from last year's Sars epidemic. Coming back into the hospitality scene with gusto, their current promotions include the Mangosteen Escape Package (three nights/four days) which includes a cluster of giveaways that include everything from airport transfer in luxury limo, candle-lit dinner at Mangosteen Restaurant, massage at Solitude Spa and even an evening at Phuket Fantasea Show. Another hot selling promotion is cheaper room rates the longer guests stay.
"A number of our guests have found our resort by word of mouth, so that has been a positive start for us after Sars," explained Hajo. "Here at the Mangosteen, we welcome all types of clients because we have a product that is unique. Due to our central location and the fact that we are on a hill top, gives the resort a very special ambience that would be hard to find elsewhere in Phuket today."
Hajo came up with the resort's name very much by chance. While both love the mangosteen fruit, they did have a wide range of names to choose from, before settling for this particular one. "The challenge in having such a name for a resort," said Hajo, "is explaining to overseas guests just what the fruit looks like and tastes."
The couple have gone through thick and thin getting Mangosteen on the international market. But it's been a joint effort that the couple are now proud of. Speaking from experience, Hajo said that he would recommend people with little experience in the hospitality business to expect the worst.
"From what I have seen in getting a resort together, it takes heaps of patience and determination. There is no time to get disheartened, even when everything seems to work against you. Deadlines are never reached and everything is a mess. But when I see the final outcome, it was worth the effort."
Meanwhile among Mangosteen's repeat guests is Joe Morton, who was making his third visit to the resort when Horizons caught up with him. The American businessman said that he found Hajo and Kewalee's resort on the internet while researching mangosteen. On a sales incentive trip, Joe said that he found Mangosteen to offer just what he was missing from home.
"I travel about 80% of my time, so I have been to the best hotels and resorts, but the Mangosteen stands out in that it's very customer-oriented. People here are so friendly and the food is great. From my experience as a seasoned traveler, I can honestly say that rarely have I found the owner or the general manager of a hotel or resort take the time out to acknowledge their guests.
"At the Mangosteen, we have enjoyed a genuine personal touch from the owners which indeed is special."
Tuesday, August 24, 2004
Figures show huge property boom
PHUKET: Figures indicating how the property industry in Phuket is booming were presented yesterday by the Phuket Real Estate Club (PREC).
At a conference on the southern Thai economy, held at the Royal Phuket City Hotel, PREC Secretary Thanit Prateepnathalang said that between January and July this year, property companies applied for permission to build 43 new developments. Of these, 28 had so far been approved. The investment in individual developments ranges from 250 million to 700 million baht, he said, noting that most are aimed at European or American buyers. Last year, according to figures from the Phuket Provincial Land Office (PPLO), 10 property companies were granted permission for developments. “The government’s decision [two years ago] to reduce taxes and fees on property investment to 0.01% has made the property business grow rapidly, especially in Phuket,” said K. Thanit. “About 40% of investment in Phuket is in real estate.”
Another indicator of the property boom supplied by K. Thanit was the amount of tax collected by the PPLO. In 2003 the figure was about 100 million baht, he said, whereas in the first three months of this year alone, a massive 456 million baht in taxes was paid to the PPLO. He said, “Land on Phuket is one-fifth the price of land in Singapore, but we expect it to increase to half the Singapore price. It currently sells for [as much as] 20 million baht per rai.
“The trend for real estate investment is still upward, but I worry that it may be growing too rapidly, and may result in another bubble crisis [like in 1997],” he added.
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Phuket Gazette, Thailand
Monday, December 29, 2003
Dramatic
increases in land value
Prices for land along Patong's beach road increased as much as 300% in some
areas, with the most expensive plots valued at 50,000 baht per square wah
(12,500 baht per square meter).
PHUKET: Phuket property owners can expect higher land taxes in the new year as the Phuket Treasury Office (PTO) has announced an island-wide average increase of 65% in government-appraised land values. The new rates, which reflect the island’s continuing property boom, will be effective from January 1, 2004 to December 31, 2007. The Bangkok-based Valuation Authority, which is responsible for appraising land values nationwide every four years, reported increases in some areas over 100%. Kathu district showed an average increase of 127%, while Thalang and Muang districts had increases of about 35%. Tamrong Tongtan, new chief of the PTO, told the Gazette that the new figures reflected trends in Phuket’s continuing property boom. The most expensive land on the island continues to be along Rassada Rd in Phuket Town. Assessed values there were are as high as 80,000 baht per square wah, the same as in the previous valuation. The greatest recorded increase in Phuket Town was along Pra Phuket Kaew Rd, which runs between Kathu and Samkong. Prices for land there increased a dramatic 299%, with plots in some areas now going for as much as 12,500 baht/sq wah. In Kathu District, land valuations along the beach road in Patong increased as much as 300% in some areas. The most expensive plots were valued at 50,000 baht/sq wah compared to 31,000 baht/sq wah previously.
The lowest assessed prices in this zone are now at 20,000 baht/sq wah, a four-fold average increase over the previous assessment.
Assessed values in Thalang District remain, on average, the lowest on the island. Some areas along the Baan Don-Cherng Talay Rd doubled in value. Similar increases were recorded along the road from Bang Roang-Ao Por, where land doubled in price from 1,000 baht a square wah to 2,000 baht, on average.
"The new appraisal values are now in line with actual costs,” K. Tamrong said.
He added that the increases would benefit landowners who wanted to use their property as collateral in obtaining loans or, if need be, to post bail with the court.
The
Mangosteen Pool Suites & Villas
99/4 Moo 7, T. Rawai, Soi Mangosteen, Phuket
83100, Thailand
Tel.: +66 (0) 76-289399 - Fax: +66 (0) 76-289389 - sales@mangosteen-phuket.com
A
The Mangosteen Resort & Spa development
A Diamond Collection Member of Boutique Hotels