PHUKET: The Phuket property market has remained fluid over the past 10 years. Crises have come and gone, yet the property market has remained surprisingly resilient. Buyers have benefited during this time period, as developers have adapted their offerings and prices to meet the budgets of overseas clients.
Five years ago there were few off-plan projects under 20 million baht for a three-bedroom villa. While there is still demand for large, high-quality villas, there are many developers who are now building “boutique villa” communities on smaller land plots, consisting of four to 12 units, with prices ranging from 8mn to 15mn baht.
Why is this happening?
Buyers’ budgets have reduced due to the world economic crisis, or they are prepared to risk less capital in the current economic climate. At the same time, the cost of land on Phuket has increased substantially, as have building costs.
Developers – a savvy bunch – recognized that buyers are now looking for two-bedroom to three-bedroom private villas with a swimming pool and a secure community in a pleasant area near the beach. The plot sizes are usually no more than 400sqm and 500sqm.
The quality-designed villas usually have the swimming pool as the central focal point, with the living space and bedrooms overlooking the central area, making a very entertaining and inviting private space. The benefits to the buyer are: exceptional value for money and owning a property in Thailand, which can be rented out for short or long term – receiving excellent rental returns.
One such example of this change is a three-bedroom pool villa in Rawai that hits all of the marks. Constructed around a swimming terrace and an easy-care garden, the pool promises enjoyment for years to come.
Enter through the double carport, past the laundry/storage room and into the open-plan living area. The full Western kitchen features gorgeous wooden cabinetry, a breakfast bar and built-in stainless steel appliances. The lounge sits adjacent and opens onto the pool terrace, where you will find the informal dining suite.
The pool terrace is surrounded by a nicely landscaped garden and has a modern lounge sala. There are views of the mountains, with trees peaking over the security fence, and the pool itself is perfect for relaxing with a step-down design and in-pool jacuzzi.
All three bedrooms have pool access. The master suite sits at the head of the house and features an en-suite bathroom with a his-and-hers vanity. The other two bedrooms share the second bathroom. The built-in wardrobes, fans and air-conditioners in all rooms, as well as the dining terrace are all it takes to complete the picture. This is the kind of villa that is easy to maintain and can generate a steady rental income if so desired.
The property is priced at 9.6 million baht.
For details, contact: Patrick Lusted at Siam Real Estate, quote reference number: HSIL7355. T: 076-288908 www.siamrealestate.com.
— Patrick Lusted
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