Connect with us

Property

Krabi’s marina lifestyle is growing fast

Legacy Phuket Gazette

Published 

 on 

Krabi’s marina lifestyle is growing fast | The Thaiger
  • follow us in feedly

PHUKET: Krabi Boat Lagoon, the sister marina of the long established Phuket Boat Lagoon, is garnering strong interest from Phuket residents seeking a quieter lifestyle and solid investment in the fast growing town.

The marina, which opened for business in late 2012, has had a steady flow of Phuket regulars moving their boats to take advantage of the less crowded waters and lower berthing fees. But it’s not just the marina that is seeing solid growth, the first of four buildings in The Cleat residential development has been completed, and 90 per cent of its units have been sold already. The second, third and fourth buildings are set to be completed by the end of the year, and according to Sriya Yongsakul, deputy managing director of Krabi Boat Lagoon, interest is strong.

“At the moment most of the residential customers used to live in Phuket, or are overseas investors who are related to boaters. Surprisingly, it’s the local Thais themselves who want to live in the marina and they also see the upside of the property investment. The professional people, like the doctors or lawyers, have a long-term view of their investment, so they are the ones who buy in at these early stages,” she said.

Assistant Managing Director and Marina Manager Thana Tharadolaparb echoed Ms Sriya, adding that the fast developing Krabi area, with its international airport and new international hospital, now offers amenities that are beginning to rival Phuket, but without the crowds.

“During the high season, private planes have difficulty being allowed to access Phuket airport, so many of our customers are now landing at Krabi, and because we are so close to the airport, it makes it very convenient,” said Mr Thana.

“Phuket is getting too busy, in Krabi we now have an international hospital, there are plans for a big department store and we also have many five-star hotels – the only thing we are missing is an international school, but there is talk about one coming soon.”

Once completed, The Cleat will have 84 units spread over its four buildings, with a wide range of floor plans and sizes to choose from. With the price for an entry-level, 38-square-meter, studio unit starting at 2.9 million baht, the project offers some of the most affordable marina-based residential units in the Asia-Pacific region. Residents also get access to The Clubhouse, a leisure facility featuring a swimming pool, fitness center and library. Also, one restaurant has already opened to serve residents, with more to follow soon.

“We target those that want to live in a relaxing area but also want to be close to the international airport,” said Ms Sriya.

“It is one of the lowest priced waterfront condominiums in a marina in the world, so it is affordable to have a bigger and higher-quality unit, and it’s still only two and half hours by car to Phuket or one hour by boat.”

The project is sold under a freehold strata structure, meaning foreigners can own up to 49 per cent of the units. Krabi Boat Lagoon will also offer a rental management service as a convenience to its customers.

Ms Sriya says the company’s excellent reputation – built on the development and management of the Phuket Boat Lagoon – has helped encourage buyers from Phuket, and abroad, who are familiar with the company’s track record.

“The marina has been up and running for one year now, with many of the same staff from Phuket,” she said.

“The customers recognize Khun Thana, he has been with us for a long time, so when the customers see him, they know they are going to get more or less the same quality.”

The total land space owned by Krabi Boat Lagoon is 80 rai, and so far, 38 rai of that has been dedicated to the marina and The Cleat condominium, leaving plenty of land for future expansion.

“We still have lots of land to develop into other property projects, but right now we are looking at having the marina fully set up, and to get the first four phases of The Cleat completed, and then perhaps we will look at single floor houses and private villas,” she said, adding, “We now have only about one third of the whole development, so this is really what we are calling the first phase of the project.”

For more information about Krabi Boat Lagoon and The Cleat condominium visit: krabiboatlagoon.com

— Mark Knowles

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *



Interested in more property news or buying property in Thailand - check out FazWaz today!

Archiving articles from the Phuket Gazette circa 1998 - 2017. View the Phuket Gazette online archive and Digital Gazette PDF Prints.

Property

Thailand’s property market waits for an end to Covid-19

The Thaiger

Published

on

Thailand’s property market waits for an end to Covid-19 | The Thaiger

The Coronavirus outbreak poses challenges for Thailand’s property market as potential Chinese condominium buyers remain stranded in China. Meanwhile, some believe that the outbreak may bring opportunities for non-Chinese buyers and in the long-run, the Chinese may be looking for an overseas refuge in the event of these types of emergencies popping up again

Through all this, there will be a certain level of pent up demand for Thai real estate.

Of course, it’s not just the Chinese unable to come and inspect potential buys, the rest of the world is also mostly shut out of Thailand.

Market remains weak

The pandemic is hurting the condominium market as Chinese nationals were accounting for half of the international buyers in Thailand, or 57.6% of the total foreign condo owners in 2018.

Vichai Viratkapan, acting director-general of the Real Estate Information Centre says that 50% of Chinese condo transfers are expected to disappear in the first 2 quarters of this year and the total transfer value by the Chinese will miss the mark of the usual 29 billion baht by about 25% (around 7 billion).

However, since Chinese property buyers only make up 6% of the total international and domestic housing transfers in Thailand, the proportion of total housing transfers in the country is likely to be similar to last year.

Developers looking to sell current stock whilst shelving new projects

CBRE reports that most Thai developers are postponing the launch of new condo projects to focus on clearing existing stock.

“Discounting completed projects to generate quick revenue as a financial lifeboat is the best solution for many of the country’s larger developers whilst the market is in limbo.”

Rathawat Kuvijitrsuwan, head of CBRE Research and Consulting in Thailand believes that, now business is gradually recovering, a few developers have started to launch new condominium projects.

“In the first half of 2020, the Bangkok condominium landscape was gloomy with fewer than 10,000 condominium units launched, which was much lower than the total number of new launches in the past three years of more than 60,000 condominium units per year.”

The Chinese are reluctant to complete transfers

The virus has continued to affect hospitality operators, including hotels and condominiums that service tourists, nationwide. Since China has suspended tours, put restrictions on movement, and locked down cities, home to over millions of people, it also poses a threat to real estate developers as their clients are unable or unwilling to fly.

“Currently multiple off-plan condominium developments are approaching completion, and Chinese clients are unable or unwilling to transfer. Chinese clients who made a reservation in Q4 2019 are requesting a refund and withholding their investment,” said Marciano Bijmohun, Business Development Director at FazWaz Property Group.

He believes every condominium that is in transfer status will see the percentage of non-transfer units rise in the coming months.

“These non-transfer units will cause a big financial hit to developers.”

If a client refuses to transfer, does not comply with the terms and conditions stipulated in the sales and purchase agreement, and decides to release the property, their deposits will be forfeited.

“However, there is some good news, these non-transferred units can be offered with a discount to new clients.”

Also, as China has been susceptible to a few disease outbreaks – from bird flu to the current coronavirus – it may prompt Chinese buyers to look for second homes outside of China.

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Continue Reading

Bangkok

Silom Road tops as the most expensive area to buy land in Bangkok

Caitlin Ashworth

Published

on

Silom Road tops as the most expensive area to buy land in Bangkok | The Thaiger
PHOTO: Unsplash: Paul Szewczyk

Silom Road, Bangkok’s nightlife district, is the most expensive area to buy land in Bangkok, followed by Phloen Chit Road, according to data the Treasury Department gathered from 2016-2019. The pandemic may have fluctuated the prices, but no data on land value for 2020 has been reported by the department. They also say only asking prices were recorded, so it’s unclear how much the price decreased by during negotiations.

On Silom Road, land prices per square wa are up to 1 million baht while land on Phloen Chit Road have been reported to cost up to 900,000 per square wa. A square wa is about 4 square metres. Land on Rajadamri Road ranges from 750,000 baht to 900,000 baht per square wa. The cheapest areas to buy land in Bangkok are farmlands in the Bangkhuntian district. Land prices range from 500 baht to 10,000 baht per square wa.

Properties on Silom Road are also the most expensive in Bangkok. The price for a 170 square wa 4 storey office on the road costs around 155 million baht, according to the data. The highest asking price was 7 billion baht for a 37 storey office building on Sathorn Road.

Here are the top 10 most expensive areas to buy land in Bangkok:

1. Silom Road at 700,000 baht to 1 million per square wa

2. Phloen Chit Road at 900,000 baht per square wa

3. Rajadamri Road at 750,000 baht to 900,000 baht per square wa

4. Rama I Road at 400,000 baht to 900,000 baht per square wa

5. Wireless Road at 500,000 baht to 750,000 baht per square wa

6. Sathorn Road at 450,000 baht to 750,000 baht per square wa

7. Yaowarat Road at 700,000 baht per square wa

8. Thaniya Road, Pattanapong Road, Pattanapong II Road at 600,000 per square wa

9. Narathiwas Rajanakarin Road at 280,000 baht to 600,000 baht per square wa

10. Ratchawong Road, Sampeng Road at 550,000 baht per square wa

SOURCE: Nation Thailand

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Continue Reading

Thailand

Thai condo developers clearing inventory rather than starting new projects

The Thaiger

Published

on

Thai condo developers clearing inventory rather than starting new projects | The Thaiger

“With waves of uncertainty and financial stress crashing into the market from the COVID-19 pandemic, most residential property developers have decided to postpone their plans.”

CBRE, the international property consultants, reports that most Thai developers are postponing the launch of new condo projects to focus on clearing existing stock. Discounting completed projects to generate quick revenue as a financial lifeboat is the best solution for many of the country’s larger developers whilst the market is in limbo.

Rathawat Kuvijitrsuwan, head of CBRE Research and Consulting in Thailand believes that, now business is gradually recovering, a few developers have started to launch new condominium projects.

“In the first half of 2020, the Bangkok condominium landscape was gloomy with fewer than 10,000 condominium units launched, which was much lower than the total number of new launches in the past three years of more than 60,000 condominium units per year.”

Since June, CBRE Research says new condominium projects, along new extensions and future routes of mass transit lines, with starting prices under 2 million baht, and those along existing mass transit lines are usually priced lower than 3 million baht.

“On the other hand, there has been no newly launched condominium in the high-end and above segments this year due to the high level of unsold supply and high land cost in prime locations. Investors have become more cautious in spending a large amount of cash during these uncertain times.”

“Some of the newly launched condominiums have had a good sales rate during their first launch. Most of these projects have been launched with a product and pricing that are mainly targeting large demand from buyers with lower-purchasing power and are located in an attractive location with limited available condominium supply in the area.”

But despite the slowdown of general activity and the current sales and promotions to dispose of excess stock, over 60,000 condos are expected to be completed this year and around 80,000 units each year over the next 2 years.

“With over 140,000 condo waiting to be transferred over the next 2 years, there is a possibility that a large number of booked units could return to such a volatile market as some cash-strapped buyers could decide not to transfer their units.”

“The future of the condominium market depends on the direction that residential developers will take collectively. With the 10 year record low number of newly launched condominium projects, this is the moment for the market to correct its long-standing oversupply and overpricing issues.”

CBRE Research believes that there are still opportunities for developers, including the 4 under-construction mass transit lines that are expected to be completed in 2022, the new Bangkok City Planning that will unlock many new locations for condo development and foreign demand that will come back… eventually.

To find the best range of condos, houses and villas, around Thailand, click HERE.

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Continue Reading
50% of Thailand’s population to get Covid-19 vaccine when available – Health Minister | The Thaiger
Coronavirus (Covid-19)4 hours ago

50% of Thailand’s population to get Covid-19 vaccine when available – Health Minister

K-Pop fans show their support for the young Thai protesters, donate 3 million+ baht | The Thaiger
Protests5 hours ago

K-Pop fans show their support for the young Thai protesters, donate 3 million+ baht

Thai authorities push to ban, censor news outlets and social media | The Thaiger
Protests5 hours ago

Thai authorities push to ban, censor news outlets and social media

Thailand News Today | Protest update, Samui wants cheap flights, Isaan croc hunters | October 19 | The Thaiger
Thailand6 hours ago

Thailand News Today | Protest update, Samui wants cheap flights, Isaan croc hunters | October 19

Dozens of protester arrests since emergency decree was imposed | The Thaiger
Protests6 hours ago

Dozens of protester arrests since emergency decree was imposed

Covid19 – US infections “balloon”, world case total surpasses 40 million | The Thaiger
Coronavirus (Covid-19)7 hours ago

Covid19 – US infections “balloon”, world case total surpasses 40 million

New delivery application focuses on reducing Thailand’s food waste | The Thaiger
Environment7 hours ago

New delivery application focuses on reducing Thailand’s food waste

New Covid-19 restrictions imposed to tackle Europe’s second wave | The Thaiger
Coronavirus (Covid-19)8 hours ago

New Covid-19 restrictions imposed to tackle Europe’s second wave

Thailand to be Southeast Asia production base for Oxford’s Covid-19 vaccine | The Thaiger
Coronavirus (Covid-19)9 hours ago

Thailand to be Southeast Asia production base for Oxford’s Covid-19 vaccine

“Open the borders, safely”, Bill Heinecke, Minor International interview – VIDEO | The Thaiger
Coronavirus (Covid-19)9 hours ago

“Open the borders, safely”, Bill Heinecke, Minor International interview – VIDEO

St Mark’s International School ‘breaks ground’ with their new Bangkok campus | The Thaiger
Events9 hours ago

St Mark’s International School ‘breaks ground’ with their new Bangkok campus

5 new Covid-19 cases in quarantine, some with cough symptoms | The Thaiger
Coronavirus (Covid-19)10 hours ago

5 new Covid-19 cases in quarantine, some with cough symptoms

Lucky escape for chickens in Udon Thani as crocodile caught trying to enter coop | The Thaiger
North East10 hours ago

Lucky escape for chickens in Udon Thani as crocodile caught trying to enter coop

Governor halts movement of goods between Tak and Myanmar amid Covid fears | The Thaiger
Coronavirus (Covid-19)11 hours ago

Governor halts movement of goods between Tak and Myanmar amid Covid fears

Koh Samui tourism operators want cheaper flights to lure tourists | The Thaiger
Transport11 hours ago

Koh Samui tourism operators want cheaper flights to lure tourists

Thailand News Today | Protest update, Samui wants cheap flights, Isaan croc hunters | October 19 | The Thaiger
Thailand6 hours ago

Thailand News Today | Protest update, Samui wants cheap flights, Isaan croc hunters | October 19

Thailand News Today | Bangkok protests, Special Tourist Visa, Prisoners slippery escape | October 16 | The Thaiger
Thailand3 days ago

Thailand News Today | Bangkok protests, Special Tourist Visa, Prisoners slippery escape | October 16

Thailand News Today | State of Emergency, Pattaya ‘online’, Veggie Festival plea | October 15 | The Thaiger
Thailand4 days ago

Thailand News Today | State of Emergency, Pattaya ‘online’, Veggie Festival plea | October 15

Thailand News Today | BKK protest update, Chiang Mai ‘quiet’, Baby klong crocs | October 14 | The Thaiger
Thailand5 days ago

Thailand News Today | BKK protest update, Chiang Mai ‘quiet’, Baby klong crocs | October 14

Thailand News Today | No STV tourists, Boss in Dubai, border fears in Tak | October 13 | The Thaiger
Thailand6 days ago

Thailand News Today | No STV tourists, Boss in Dubai, border fears in Tak | October 13

Thailand News Today | Land bridge project, “Thai Bridge”, Chaing Mai black widow | October 12 | The Thaiger
Thailand1 week ago

Thailand News Today | Land bridge project, “Thai Bridge”, Chaing Mai black widow | October 12

Thailand News Today | Army v Twitter, Tourism interrupted, Thailand World’s #6 | October 9 | The Thaiger
Thailand1 week ago

Thailand News Today | Army v Twitter, Tourism interrupted, Thailand World’s #6 | October 9

Thailand News Today | Tourist arrivals postponed, Will Boss return?, deadly centipede | October 8 | The Thaiger
Video & Podcasts2 weeks ago

Thailand News Today | Tourist arrivals postponed, Will Boss return?, deadly centipede | October 8

Thailand News Today | Poll-Keep borders closed, quarantine exemption, heavy rain | October 7 | The Thaiger
Thailand2 weeks ago

Thailand News Today | Poll-Keep borders closed, quarantine exemption, heavy rain | October 7

Thailand News Today | Business people exemptions, road checkpoints, Phuket delay | October 6 | The Thaiger
Thailand2 weeks ago

Thailand News Today | Business people exemptions, road checkpoints, Phuket delay | October 6

Thailand News Today | Live from Thammasat, Sacked teacher sues parents, Pattaya eating contest | October 5, 2020 | The Thaiger
Thailand2 weeks ago

Thailand News Today | Live from Thammasat, Sacked teacher sues parents, Pattaya eating contest | October 5, 2020

Thailand News Today | Prison release?, Pattaya Makeover, 6 new Covid cases | October 2 | The Thaiger
Video & Podcasts2 weeks ago

Thailand News Today | Prison release?, Pattaya Makeover, 6 new Covid cases | October 2

Thailand News Today | Waiting for vaccine, new face of Thailand expats, teacher complaints | Oct 1 | The Thaiger
Video & Podcasts3 weeks ago

Thailand News Today | Waiting for vaccine, new face of Thailand expats, teacher complaints | Oct 1

Thailand News Today | Phuket re-opens, TripAdvisor review saga, Samut Prakhan chem spill | Sept 30 | The Thaiger
Video & Podcasts3 weeks ago

Thailand News Today | Phuket re-opens, TripAdvisor review saga, Samut Prakhan chem spill | Sept 30

Thailand News Today | Visa amnesty extended, first STV tourists, teacher sacked | September 29 | The Thaiger
Video & Podcasts3 weeks ago

Thailand News Today | Visa amnesty extended, first STV tourists, teacher sacked | September 29

Follow The Thaiger by email:

Trending