Despite Phuket being an island it's often puzzling for visitors and locals alike just how segmented the tropical expanse can be.
We recently caught up with a leading expert on all things South – Richard Lusted of Siam Real Estate.
He quickly got us into the loop with two of the newer hot projects Baan Sawan and Eva Beach.
Other notables include Intira Villas, Rawai Hill Residences, By The Lake, Villa Onyx (Two Villas Group), Villoft and new phases of Kata Ocean Residences.
Sounds like a lot is happening on that end of the island and worth taking a drive sooner than later.
Bangtao's Baan Mandala development which recently completed is retaining 5 units for a vacation rental operation.
With tourism numbers surging the project developer sees considerable upside potential in retaining a limited inventory.
Rates are offered for weekly and monthly increments and season's sectioned into peak, high and summer. Two bedroom units accommodating 4 adults range from THB35,000-49,000 a week or THBTHB129,000-179,000 a month.
Free Wi-Fi, cable TV, flat screen TV's are an added value component of the offering.
Damn the torpedoes and concerns about global warming. The Maldives which is pegged by some scientists to be sharing space with Nemo at an unknown point down the road is taking a long term view on attracting property investment.
Liberalization has meant long term 50 year renewable leases are now available to overseas buyers back of the new Maldives business-minded Government regime.
Hospitality led residential offerings from upscale brand such as Banyan Tree, and Six Senses are seeing new product rollouts of luxury offerings.
While its early days for the Maldives real estate sector, branded residential products are continuing to skyrocket in the cash rich region.
Ben Daniel's Lotus Trinity Group is working towards completion and registration for the first two phases of the Kamala Falls condominium in July.
Over 70% of the seventy seven units in phases one and two have been sold. Phase three of the project is currently being reviewed and some configuration changes made back of customer demand.
Back of the progress towards completion of units, the developer has obtained funding of THB140 million in order to complete the project.
Despite a challenging period over the past two years the project completion and planned release of condo titles is proving an effective stimulus for sales of the remaining units.
The original entrepreneur of the successful Cape Yamu development Eugene McCain has launched a new development called Jindarin Beach Club and Resort.
Envisaged as an eco friendly boutique type project on Coconut island off Phuket's east coast.
Comprised of 14 plots options include three unit types of one and two bedroom cottages with add on options.
A separate land and build structure allows purchasers to either construct now or later. Lot packages range from THB1.5 to 5 million, with cottages fromTHB2 to 4 million.
Additional phases are now open with another 18 units for sale. Management fees have been estimated at THB8,000 per month and a rental program available though a resort operation.
More information <link>http://www.jindarin.com*CLICK</link>
One of the islands hardest working agents Richard Lusted's Siam Real Estate have launched an online business resource www.thailandpropertydoctor.com.
Envisaged to be an interactive web based initiative subjects cover the entire spectrum of real estate, living in Thailand and resources for potential buyers and sellers.
The site also interacts with a wide range of SNS (social networking sites) including Facebook and Twitter.
For details <link>http://www.thailandpropertydoctor.com*CLICK</link>
Longtime Asian expert Rich Cohen is heading up the sales team at the recently re-launched ultra villa estate Istana in Nai Thon beach.
Based in offices at Cherngtalay's Plaza Del Mar he is working with marketing consultant Duane Lennie of Mango Nation on introducing both new collateral and web initiatives to see the project though completion.
A new contractor for the project has been appointed and site work started again back of positive signs of returning investor sentiment in the broader Phuket property market.
Jones Lang LaSalle Thailand have launched a new dedicated vacation rental website to cope with growing demand for non -traditional hotel accommodation.
To view the site <link>http://www.thailand-holidayrental.com*Thailand-HolidayRental.com</link>
On offer are holiday properties ranging from private pool villas, condos, townhouses and apartments in resort destinations Phuket, Phang Nga, Hua Hin and Krabi. City listing for Bangkok are also available.
In Phuket JLL's estate management division currently manage 16 developments including The Cape (formerly Cape Yamu), Kamala Beach Estate, Allamanda Phase 1, and Patong Tower.
An increasing number of property owners are now looking to tap into the surging tourism market by renting their second or investment homes.
For hotels who now view residential projects as foe rather than friend, expect them to put added pressure for hotel licensing regulations and rental taxation in the coming year.
For both residents and investors in Phuket's managed estates and developments, 2011 is set to see maintenance costs hit by hyperinflation.
The cost of labor intensive operations that affect common area or recurring maintenance fees derive largely from outsourced contracted functions such as security, gardening, and pool cleaning. These costs are then passed onto the customers, hence contribute to a great degree in escalating annual costs over normal inflation.
Driving the trend is a new minimum wage order which sees an 8.3% increase for the island to a daily amount of THB221. The rise is THB17 from the existing amount; though local officials had only asked for an THB11 increment.
Thailand's Ministry of Commerce has reported an official inflation figure for the first 11 months (January- November) of 3.4%, which is being forecast for a full year 2010 figure of 3.3%.
Conversely next year's new minimum wage for the nation's capital Bangkok will tally in at THB215 per day.
