Amari Residences Patong Launching First Quarter

Phuket's property sector is seeing as rise in new products, and one we are closely watching is the new Amari Residences in Patong.
Located adjacent to the Amari Coral Beach resort, the development will have 148 apartments and 12 villas.
A public launch is expected in the first quarter of 2013 with CBRE Thailand handling project sales and marketing.
Ownership is on a leasehold basis, unlike the Amari branded product which was sold in Hua Hin on a condominium structure.
Pricing has yet to be finalized but it's expected to be significantly higher than the recent Laguna Shores offering in Bangtao.
With a lease offering and geared towards investment buyers on hotel yields, the apartments are highly segmented into the foreign marketplace.
The industry will be closely watching the offering to see how receptive sales pace will be to the offering.
It's not been finalized yet whether unit owners must enter a rental pool or will have an option.
For the Amari Coral Beach the inventory and new product will boost the hotel's trading prospects.