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Quality matters in Khao Yai holiday home market/thailand/en-gb/news/615/quality-matters-in-khao-yai-holiday-home-marketQuality matters in Khao Yai holiday home market<p>Khao Yai's holiday home market has become more active in its high season, with several major condominium and villa development projects are actively running promotional campaigns to boost sales. While those campaigns are driving the interest, buyers' decision making will continue to depend a lot the quality of products that each of these projects offers, according property consultancy JLL.</p><p>Khao Yai saw a big real estate boom between late 2000's and early 2010's when a lot of new condominium and villa projects were launched in response to the fast-growing interest from middle-class and high net worth Thais looking to have a holiday or retirement home near Bangkok.</p><p>However, the actual demand has been lower than interest, and thus failed to keep pace with the fast growth of supply. As a result, the market has seen a marked slowdown in both construction and marketing activity since 2014.</p><p>Most of the resort condominium and villa projects that have been active in Khao Yai are those that have recently been re-launched or opened new phases.  Some examples include Swan Lake (approx. 150 condominiums), Bella Del Monte (approx. 50 villas), Zen Next (approx. 70 condominiums) and Akas (approx. 100 condominiums and 8 villas).</p><p>Prices of condominiums and villas in Khao Yai vary greatly from THB 5 million to THB 35 million for a condominium unit and THB 15 million to above THB 100 million for a villa. However, observations by JLL show that condominiums priced between THB 12 and THB 15 million are selling best while villas priced between THB 20 million and THB 40 million have seen the strongest demand.</p><p>Bunthoon Damrongrak, Head of Residential at JLL, says "Prices of the best selling residential units in Khao Yai are generally higher than the average for major holiday home markets across Thailand. This implies that the majority of buyers in the hill resort market have exceptionally high purchasing power."</p><p>"As there is some correlation between pricing and quality, the prices of the best sellers also reflect buyers' willingness to pay more for premium products," says Bunthoon.</p><p>"Sales performance at Swan Lake is a prime example explaining the case well," says Bunthoon. "It has been Khao Yai's most successful condominium project in 2017 in terms of sales. The project has enjoyed a strong sales rate at 80%. While prices of units start from THB 9 million, most of the units that have been sold are priced between THB 12 and THB 15 million," he continues.</p><p>In fact, one of the major challenges that buyers have experienced in a number of holiday home markets in Thailand is the scarcity of quality supply. Khao Yai is no exception.</p><p>"Khao Yai is a niche market dominated by affluent middle-age Thai buyers who purchase units for own use and put a great emphasis on quality of products. That said, future condominium or villa development projects in Khao Yai are likely to be in the prime segment where demand concentrates," says Bunthoon.</p><p>However, whilst buyers in Khao Yai generally have high purchasing power, they are small in numbers. In order to best capture demand in this niche, any developers planning new projects must make sure they truly understand what prospective buyers are looking for," Bunthoon concludes.</p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88
Phuket in high season/thailand/en-gb/news/616/phuket-in-high-seasonPhuket in high season<p>Phuket has well entered into a high season. Not only the beaches are packed, but there are a number of property developments that are driving the interest in the island, according Dexter Norville, a director at property consultancy JLL.</p><p>Montezure, the 450 rai development in Kamala is a standout project not only because of its sheer size but its diversity ranging from the Twin Palms condominium project, luxury hillside villas and the aged living development which will be built in the next couple of years. Coupled with the Intercontinental Hotel and the Café Del Mar there is no surprise that the project is the talk of the town.</p><p>Heading south back towards Patong, construction of the third phase at award winning development Twin Sands is expected to complete in May 2018. Situated in Tri Trang and just opposite the luxury Rosewood Hotel the new phase will have 89 apartments, a wellness center, children's club and a lagoon style swimming pool. Tri Trang has seen quite a bit of development in the past few years and offers investors the chance to own property close to Patong but just far enough away from lively nightlife to be able to relax and take in the breathtaking vistas.</p><p>Bluepoint is another project in Tri Trang which will finally complete in early 2018. The project was sold to new owners who have now brought the development forward and they hope to be transferring the first units in March or April.</p><p>Up and around the Laguna Area and Cherng talay, Casia has added a new phase which is another addition to the already impressive Laguna Phuket portfolio.</p><p>Diamond Condominium is another project in this area which is due to transfer its first units towards the middle of next year or slightly sooner. This resort style condominium development offers sensibly sized and priced units catering towards both foreign and local investors.</p><p>River House is a new development which will be offering 26 luxury villas in Cherng Talay. A Scandinavian development team is the driving force behind this venture and have their focus firmly set on investors looking for properties with more room than the average condominium in the area. Well placed near to Boat Avenue and Laguna, it will be interesting to see the progress of this development.</p><p>"All in all, there seems to be a lot of interest and activity in the development and investment market of Phuket which really should not come as any surprise after all it is one of the world's top destinations and also has one of the region's most well connected airports making it easy to get to from just about anywhere," says Dexter.</p><p>"A few words of advice to any potential investor would be to seek advice from a quality service provider to ensure that you make the right purchase decision. You should also check that the property is going to be well managed as after all this should be a key point in any real estate investment situation as your investment needs to be looked after," he adds.</p>0x0100E81015D9D08198458B498FF948D658F90052B0972AFC77B94093C478C1B5B47C88



Asia Pacific Property Digest 3Q 2017/asia-pacific/en-gb/research/925/asia-pacific-property-digest-3q-2017Asia Pacific Property Digest 3Q 2017Real estate activity on track for Asia Pacific0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045
The Residential Index 3Q 2017/asia-pacific/en-gb/research/922/the-residential-index-3q-2017The Residential Index 3Q 2017Hong Kong home prices maintain ascent0x01010063443623C9F9004FA21AA8EABD6132C80096456DD4F4AF204EB9DD2C24B361B045

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