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Amari's Phuket staff celebrate the arrival of a new logo in 2009

Phuket's Amari Plans Big New Patong Villa Resort

Sunday, July 31, 2011
PHUKET: A two billion baht condo property development on a secluded headland south of Patong is to be transformed into a condo and villa resort, Amari CEO and President Yuttachai Charanachitta revealed this week.

Sales of the condos off the plan were not moving fast enough, he said, so a decision had been made to revise the project by adding 43 villas, with prices expected to range from 27 to 50 million baht.

Construction has yet to begin.

Amari, part of the Onyx Hospitality group, has had a strong presence at the south end of Patong for decades with the Amari Coral Beach Resort.

The new development, announced in February, comes on a stretch of pristine clifftop real estate that has lain untouched behind the existing Amari resort.

Property experts remain hopeful that Thailand's new government will provide stability and entice international buyers back to the island in numbers. The condo market, which has greater appeal to Thais, is in oversupply.

Amari also has a large land holding in Krabi and the Baan Krating brand on Phuket and in Khao Lak. In February, Amari executives suggested a low-rise boutique resort, with boat-only access, could be the outcome at the Phuket Baan Krating, tucked close to Phuket's Nai Harn beach.

Comments

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Sales of the condos off the plan were not moving fast enough, he said

houses or apartments over 2 million baht market for foreign buyers is completely dead!
if you bought an apartment or house it will be difficult to sell it at a profit if you want more then 2 million bath
When foreign can buy land and buildings legally then boom back in Thailand
Many rich families who lose money now..
Check in Kata, Karon, Patong how many apartments and expensive houses that are for sale, madness to buy right now

the only market that going good now is Thai to Thai market!

Posted by Ali on July 31, 2011 11:28

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How many meters above sea level is the construction site?

Posted by Fritz Pinguin on July 31, 2011 13:11

Editor Comment:

Why not call Amari and ask them, Fritz? As a reputable brand, I'm sure they'd be happy to help.

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Is their really that many people out there who can spend between 600,000 and a million pounds on a condo that your stay once or twice a year. Surely you're better of in a top hotel. your never spend a million in a life time.

Posted by nick on July 31, 2011 15:05

Editor Comment:

It's certainly not time share but probably, as in many other five-star Phuket resorts, a managed investment.

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(moderated)

Posted by Graham on July 31, 2011 15:07

Editor Comment:

Take your 20 bahts' worth to the appropriate authorities, Graham.

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I am buying one for sure , great location.

Posted by lord Jim on July 31, 2011 15:56

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No property in Thailand is worth 10 million baht, let alone 50 million... You can get such a nice property in the 2-4 million range if you're just prepared to venture a few kilometres outside the so-called "premium" zones (i.e. overcrowded, overdeveloped and overrated). To spend 10 million baht would be foolish, considering that even a super-luxury property can be rented for say 50,000 baht a month. 50,000x12=600,000 a year. In other words, you could rent for 17 years for the same the price as buying a 10 million baht property, and these figures are very conservative. I have a beautiful brand-new condo near Patong and I pay only 15,000 a month. I could rent it for 56 years for 10 million baht! I have a friend who lives in another condo (also new) in Phuket City and is paying 8000 a month. Makes you see that anyone who would consider paying 50 million baht for any property in Thailand is simply being fooled into paying top-flight Western prices in a developing country, in other words a total idiot with more money than sense! This is pure greed on the part of the developer companies and there is a massive oversupply of both rental and sale properties in Phuket, so it's absolutely a buyer's market. If buyers don't get suckered into paying Western prices, the greedy developers will be forced to slash their prices to realistic markups on the construction cost (which are about 25% of what they are asking at 50 million)!

Posted by Henry on August 1, 2011 16:25


Saturday January 23, 2021
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