Phuket’s NBC targets expat freehold condo market

PHUKET: High demand for condominiums coupled with an oversupply of new units has led the developers of Naiharn Beach Condominium (NBC) to turn their attention to the island’s south, where they say attractive locations for new developments are easier to come by.

“The number of places left for freehold condominiums is very limited,” says Fredric Perrochon, NBC sales director.

“Our specific location allows us to build and sell a seven-floor condominium project which we can offer as a freehold property.”

Under Thai law, a foreigner can own 100 per cent of a freehold condominium – if the developer has obtained a condominium license, as is the case with NBC.

All three seven-storey buildings of NBC are located on a plot of 4,000 square meters of land, only one kilometer from Nai Harn Beach. Buildings A and B will be ready by the end of March, while construction of building C is scheduled to be completed in October.

“There are very few condominium projects in Nai Harn that offer freehold ownership, as this area is more villa and apartment oriented, which – by law – can only be purchased buy foreigners as 30-year leasehold,” explains Mr Perrochon.

However, the freehold status isn’t the only attraction of NBC. A major asset of the project is its location in a green and secluded area, only a short walk from Nai Harn Neach.

“Nai Harn Beach is the only southern beach in Phuket where you can swim all year round,” says Mr Perrochon, adding that the location is also near a wide choice of dining options and tourist attractions.

The project itself will feature 85 units divided into four categories: 45sqm one-bedroom units, 57sqm one-bedroom units, 67sqm two-bedroom units and 115sqm two-bedroom units. Prices range from 4 million baht for the smaller units up to 8.6mn baht for the larger two-bedroom apartments.

“Our units will be delivered with air-conditioning in each room, fully equipped bathrooms and basic kitchen spaces with a sink,” explains Mr Perrochon, adding that the owners have the choice of furnishing the apartments themselves, or choosing one of NBC’s furniture packages.

The NBC’s amenities will also include two shared swimming pools, a coffee shop, fitness center, parking for 40 vehicles and a free shuttle bus to the beach.

“About 40 per cent of our units have already been sold, with 24 freehold units still available,” says Mr Perrochon.

“We are also working on a guaranteed rental-return program, which we will announce soon.”

For more information, visit nbcphuket.com