AT LEAST one large developer believes Phuket is experiencing a "golden age" for condominiums. And Wesley Baxter of Karon Hill should know.
The Karon project consists of four seven-storey buildings and 155 condos, ranging from 96 to 360 square metres. On Patak Road, almost opposite the main entrance to the Hilton Arcadia Phuket and about a kilometre from the beach, Karon Hill offers buyers a shared large swimming pool and a gymnasium as well as admin facilities.
It will be in a setting that Mr Baxter, the Sales Manager, describes as "a tropical landscaped, private estate with an exclusive club house."
Selling off-the-plan at present at a 20 percent discount, construction of the first building is expected to begin in October or November.
A year is being allowed for completion, at which point construction of the remaining buildings will begin. Total building time is expected to take two or three years.
The first phase has nine different styles of condos on offer, from single bedrooms up to three-bedroom penthouses.
"Because of Karon Hill's excellent location, we expect most of our customers will be looking for high rental returns as well as a holiday retreat for a few months of the year," Mr Baxter said.
"We may well have some permanent residents too who will see great returns of local appreciation alone."
Mr Baxter is in no doubt about the promise of the Phuket condo market.
"Right now is the 'golden age' for condominium sales in Phuket," he
told Phuketwan.
"The market is still relatively new but it has quickly boomed over the past four or five years.
"The boom might make one concerned that it is likely to flood at some point. However there is still a high demand for condominiums.
"At present, I believe that they are the only type of property really selling. As long as the market continues on its current trend, I would expect it to continue to flourish.
"As Phuket continues to develop and grow, so will the demand for luxury property such as Karon Hill -- either as retirement/second home or as holiday rental accommodation."
While Movenpick and Kata Gardens are seen as top-end alternatives to Karon Hill, he is full of praise for the southwest beach environment.
"We are the only project currently offering the lowest off-plan price, so at the end of the day it depends on what people are looking for," he said.
"We believe that our project will be as successful as the other projects in the area."
Karon Hill will offer plenty of attractive extras: high-speed internet connection, telephone line, washer/dryer fixtures, private parking and storage space, concealed air-con units. Some apartments on the ground floor will have private swimming pools.
Penthouses feature garden terraces with jacuzzi and large outdoor living areas.
Mr Baxter's concern for the future mirrors that of other developers.
"We hope when Thailand receives its new government we will see more 'foreign friendly' policies and regulations on foreign investments and ownership.
"Improving foreign investment into Thailand will have a positive impact on condominium sales in Phuket and the property industry."
Call Mr Baxter on 081-3675413, email sales@phuketkaronhill.com or visit
www.phuketkaronhill.com.
The Karon project consists of four seven-storey buildings and 155 condos, ranging from 96 to 360 square metres. On Patak Road, almost opposite the main entrance to the Hilton Arcadia Phuket and about a kilometre from the beach, Karon Hill offers buyers a shared large swimming pool and a gymnasium as well as admin facilities.
It will be in a setting that Mr Baxter, the Sales Manager, describes as "a tropical landscaped, private estate with an exclusive club house."
Selling off-the-plan at present at a 20 percent discount, construction of the first building is expected to begin in October or November.
A year is being allowed for completion, at which point construction of the remaining buildings will begin. Total building time is expected to take two or three years.
The first phase has nine different styles of condos on offer, from single bedrooms up to three-bedroom penthouses.
"Because of Karon Hill's excellent location, we expect most of our customers will be looking for high rental returns as well as a holiday retreat for a few months of the year," Mr Baxter said.
"We may well have some permanent residents too who will see great returns of local appreciation alone."
Mr Baxter is in no doubt about the promise of the Phuket condo market.
"Right now is the 'golden age' for condominium sales in Phuket," he
told Phuketwan.
"The market is still relatively new but it has quickly boomed over the past four or five years.
"The boom might make one concerned that it is likely to flood at some point. However there is still a high demand for condominiums.
"At present, I believe that they are the only type of property really selling. As long as the market continues on its current trend, I would expect it to continue to flourish.
"As Phuket continues to develop and grow, so will the demand for luxury property such as Karon Hill -- either as retirement/second home or as holiday rental accommodation."
While Movenpick and Kata Gardens are seen as top-end alternatives to Karon Hill, he is full of praise for the southwest beach environment.
"We are the only project currently offering the lowest off-plan price, so at the end of the day it depends on what people are looking for," he said.
"We believe that our project will be as successful as the other projects in the area."
Karon Hill will offer plenty of attractive extras: high-speed internet connection, telephone line, washer/dryer fixtures, private parking and storage space, concealed air-con units. Some apartments on the ground floor will have private swimming pools.
Penthouses feature garden terraces with jacuzzi and large outdoor living areas.
Mr Baxter's concern for the future mirrors that of other developers.
"We hope when Thailand receives its new government we will see more 'foreign friendly' policies and regulations on foreign investments and ownership.
"Improving foreign investment into Thailand will have a positive impact on condominium sales in Phuket and the property industry."
Call Mr Baxter on 081-3675413, email sales@phuketkaronhill.com or visit
www.phuketkaronhill.com.
