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Property News

Investing in Custom-Built Homes Can Turn into Quick and Substantial Profits

Asia Property Innovation is now offering clients a unique investment opportunity with customized homes in Thailand that are built on time and on budget.

This unique customized 775 sqm luxury villa is offered as a very interesting investment opportunity at only 23.5 million baht. Asia Property Innovation will create a completely custom, one-of-a-kind villa as investment project for people who make the purchase with the intention of selling the villa or living in it personally.

This custom villa, located on one-rai land plots next with direct access to the green inside Phoenix Golf & Country Club are expected to sell for 29 - 35.000.000 THB when completed. Out of the 23.5 million price ticket, only 11.9 million baht must be paid to secure the offering. The rest of the cost will be collected throughout the milestones along the construction timeline.

Home seekers will have the option to buy the house as an investment at a lower price before it is completed as well as taking advantage of the ability to customize the house to his/her specific wishes.

The Bay: Pattaya’s Newest Retail Development

Kingdom Property, one of Thailand’s top real estate developers has been appointed to oversee the development of a new retail beachfront project called The Bay in Central Pattaya. The project will be developed over a five year period, ultimately becoming a mixed-use project that will contain hospitality venues as well as residential spaces. Overall, the project will cost roughly THB 5 billion and will stretch from Beach Road to Second Road on a 23 rai site.

The Bay is suited to become a premium dining, leisure and family destination when it opens next year. It will offer three stories 6,800 square metres of lease-able retail space that will stretch along the Beach Road frontage for nearly 100 metres. It will run along the curved beach to offer an uninterrupted view of Pattaya Bay for those dining and enjoying the wide array of cuisines that will be offered, alfresco. While it is a beach location, the building will be far enough back that it will also offer an ideal space for events, festivals and concerts attracting visitors and customers for a wide variety of reasons for years to come.

Thailand Land and Property Tax Reform to be Proposed

The Finance Ministry will submit its land and property tax reform proposal to the Cabinet before year-end, which should boost tax revenue collection from landowners by six or seven-fold. The proposal is part of the government’s agenda to reduce economic inequality, improve land distribution and improve use of land across the nation. Reforms within the proposal will cover inheritance, customs and excise, as well as to close loopholes in value-added tax collection.

Riviera Jomtien sees strong presales

Following the success of the Riviera Wongamat, the newly released 3.8 billion baht Riviera Jomtien has seen strong demand, notching up 51 per cent pre sales in just 3 weeks. This was a superb achievement especially when seen against an overall slight slowdown in the property sector and a reduction of launches. The project comprises 1053 units in a 46-floor building.

The Mayfair just got EIA approval

With high season getting into full swing we at The Mayfair are pleased to announce

that we now have EIA approval.

TO COINCIDE WITH THIS WE ARE OFFERING POTENTIAL CUSTOMERS A 10% DISCOUNT ON ANY OF OUR LUXURIOUS UNITS.

The Mayfair enjoys one of the best locations in Pattaya on Pratumnak Road, between

Soi 5 and Soi 6, with a pedestrian entrance at the front of the building and vehicle

access to the car parking area at the rear giving safe access when driving in and

out of the building.

Our showroom is open on site Monday to Saturday 10am to 6pm giving anyone interested in the project a chance to view a full size replica of our smallest unit, customers will be able to view the choices of flooring and kitchens available, as well as see the Siemens appliances, Kohler Bathrooms, mirrored wardrobes and other room fitments which all come as standard.

At The Mayfair we are aiming to create a high end condominium with only 24 luxury

units available giving the discerning buyer a chance to obtain a unit in an exclusive building of only 7 floors. Because of The Mayfair’s elevated position on Pratumnak Hill residents can enjoy some of the best views available in Pattaya without being in a high rise apartment.

Tallest skyscraper in ASEAN planned for Bangkok

Plans for a 125-story office and hotel tower in Bangkok were unveiled by Real estate developer Grand Canal Land recently. This would mean that the Thai Capital would be hosting the tallest building in South East Asia. It will also be the third tallest building in the World. The height of the tentatively named "Rama IX Super Tower" is expected to be 615 meters and it will be built at a cost of 18 billion baht.
A naming competition will be held to decide the final name of the building. It is slated for completion in 2019. The building will sit on prime land already owned by the company near to the intersection of Rama IX road and Ratchadapisek Road, where several new buildings have already been erected by the same developer in what is called the Grand Rama 9 mixed-use development site and billed as a new CBD. Among the new landmarks in the area are the Rama 9 Central Plaza as well as a large number of residential and office buildings.

In the Super Tower, 90,000 square meters will be designated for office space and a 260-room luxury hotel. An observation deck and sky garden will also be part of the project. The tower is being designed by Architects 49 Ltd.

Thailand’s tallest building currently is the 85-floor Baiyoke tower at 328.4 meters high. The second tallest building in the Kingdom will be the Mahanakhon condominium coming in at 314 meters and it is to be completed in 2016. The tallest building in Asia currently is the Petronas twin towers building in Malaysia standing at 375 meters high.

G Land chairman Yothin Boondicharern commented that the tower will be a centerpiece for the entire Grand Rama 9 complex, which is built in an enviable location in Bangkok, with good expressway access and an MRT station nearby.

Phuket land prices tripled since 2004 Tsunami

In the ten years following the 2004 tsunami in Phuket, prices of land in many areas has more than tripled as tourism has continued to grow, this according to the president of Agency for Real Estate Affairs (AREA), Sopon Pornchokchai.
The increase equates to 14 per cent per year, every year since 2004. At Patong beach land prices have reached 180 million baht per rai, amongst the highest on the island. Some areas such as Maprao and Por bays have even out performed the stellar rises elsewhere on the island posting a five-fold increase, mainly due to a lower base price at the outset.

Even though the Tsunami hit the west coast, land prices there continue to be more expensive than on the east coast due to better beaches, and established tourist venues. In 2004 it took time for prices to firm up. They were flat for much of the year, but started to jump in 2005. The east coast saw an initial rise soon after the Tsunami based on the fact that it was considered less prone to such natural disasters.

 

With Tsunamis such a rare occurrence it is little wonder that people have flocked back to Phuket property. It is expected that further rises are in store in the future.