Phuket in high season
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.
MontAzure, the 450 rai development in Kamala is a standout project not only because of its sheer size but its diversity ranging from a condominium project - Twinpalms Residences, 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.
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.
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.
Up and around the Laguna Area and Cherngtalay, Cassia has added a new phase which is another addition to the already impressive Laguna Phuket portfolio.
Diamond Condominium is another project in this area which is due to transfer its first units towards the middle of 2018 or slightly sooner. This resort style condominium development offers sensibly sized and priced units catering towards both foreign and local investors.
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.
"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.
"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.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About JLL Thailand
The firm’s operation in Thailand began in 1990 and today is the country’s largest international property service provider with 1,600 employees and more than five million square metres of property and corporate facilities managed. In Euromoney Real Estate Survey 2018, JLL was voted as Thailand’s number one overall real estate advisor for the 8th consecutive year and also won top votes for agency/letting, research and valuation in the same survey. The firm was also named Thailand’s five-star winner in the commercial property consultancy and commercial real estate agency categories at the International Property Awards Asia Pacific 2019/2020. For more information, visit jll.co.th.