While they were listed at similar price points, they offered very different takes on island living. The $7.9 million villa had a gleaming, ultra-modern feel to it, while the $8.6 million villa was timeless and sanctuary-like. Phuket is only 13 miles wide and 30 miles long, and while the island is famous for its sandy beaches, the highways that traverse the island are often clogged with traffic. Price point: 268 million Thai baht ($7. Fishing boats were tied up by the beach, and small shacks stood on prime oceanfront real estate. The villa is part of a gated development, and after we passed the guardhouse, we parked in a very steep driveway. The house knows its biggest asset – its ocean view -. The decor of the home was modern and maximal – think huge driftwood-inspired installations and matte black chandeliers. Every room was designed to capitalize on it. On the left side of the photo above, you can see the stairs leading downstairs to the entertainment area, some more bedrooms, and the pool.
One of the bedrooms is in a separate house. The kitchen is more of a coffee kitchen than a chef’s kitchen. In contrast to the gleaming surfaces of the first villa, the second had a timeless, wood-and-concrete theme going on. Like the first home, this villa, too, was designed to wow people with its greatest asset. The wood finishing was beautiful, and each suite felt totally private. Each of the small buildings on either side of the staircase has a bedroom, a bar, a bathroom, and a walk-in closet. The villa is built into a mountainside, so the entrance is on the home’s upper level. Take the central staircase downstairs. You’ll walk right up to the pool. The finishings were timeless and minimal. To the left is the kitchen and dining space; to the right is another living space and more bedrooms. Witthinrich said that homes in the $100,000-$500,000 range were in high demand before the pandemic. Each of the bedrooms was basically its own mini house. Now, demand has shifted to a higher price range, with those – like the ones we toured – in the $2 million to $10 million garnering the most interest.
It had a bit of an ocean view. Was close to the beach. The asking price? 7.8m Baht.2m. As you can imagine, he wished he’d offered less. He compared the rental prices of similar apartments on-line. Roger decided to do some research. It seemed that after he’d paid all his monthly costs – he wouldn’t make much profit at all. Of course, the agent and developer both insisted it would be moved. And to make things worse – there was an electricity transformer right in front of his future living room window. This one is no different from most. It’s not run as a resort. And he’d have to rely on agents to get him tenants – always a bit hit and miss. And capital appreciation will be low too. Because the project is complete so prices are at their highest. The worst thing is, there is undeveloped land in front of the building. In my opinion, he’d be lucky to make a 3% rental return. Obviously, the agent and the developer both said this could never happen. And that will have a big effect on the value. But do you believe them? It took us less than 5 minutes to get to there. There’s also that transformer. Roger was surprised that its 2 beaches were so quiet. All the apartments have unobstructed ocean views. And because this place only launched about a year ago, the prices are still good. The resort will be run as a 5-star hotel – so rental returns should be high -. Interestingly both apartments are the same price. The developer is offering a 5% rental guarantee for 2 years. The stock market did crash whilst he was here. I hope he got his money out in time.
As the old cliche goes – property is all about location, location, location. 195,153) for a two bedroom apartment. They chose the location for its privacy and natural beauty. But it wasn’t until the late 1990’s that private villas. 1,000,000 back in 2000, due to their location and ocean views. Apartments started to be built here. 2,500,000. But you are likely to see the best return on your investment due to limited supply and high demand. The south is a harbour where long tail fishing boats are moored. 520,342). This means most of the land in the area can’t be built on. As a result, you can get very good rental yields in the area. And what’s more, the prices are low enough for you to make a very big capital gain when you sell. Malaiwana has a good location, right on the ocean front and its own beach club. Naiyang is close to the airport. In my opinion that’s a way off. The town is rural but has several good hotels and guesthouses. There are a few property developments in the area. But it’s unlikely your rental returns. Capital appreciation will be high. And it’s perhaps for this reason it seems to be forgotten – although there’s little airport noise. Capital growth in this area is typically between 10% and 25% per year.
Sometimes, however, there are factors completely outside of your control. This tends to have a knock on effect on property. Macro-economic factors tend to have at least some influence on the property sector. When governments wants to give the economy a shot in the arm, they will lower rates. Interest rates also affect property prices. This makes borrowing cheaper, and helps to fuel growth in the economy. Low interest rates also help the local property sector. When people move out of an area (usually due to a major employer closing), properties go up for sale across the board, which usually lowers the price. We all know what would happen to the value of your house should the local authority decide to open a waste dump behind your back garden. Heaven forbid that would ever happen, but if it did, home prices in the area would certainly fall. There are many factors that conspire to edge the price of land, condos or houses up or down, many of which you may not have considered.