october 2009
contents special features
Cover Story
12
Living News
24
For the latest property market reports, leisure and interior updates.
Event Calendar
34
Follow Tropical Living to the latest property and lifestyle events around the world.
Market Watch
36
Industry Insider
40
Top Tips
46
Legal Lines
50
The Gallery
121
Business Directory
132
Thanthawat Ruangsorn, youthful managing director of developer Prime Mansion.
Bill Barnett reports on the unexpected success of this year’s Phuket villa sales.
How much will your property be worth? Expert advice on capital appreciation.
Tricks of the trade to keep your high maintenance tropical home beautiful.
Freehold v’s leasehold – which holds the most purchasing power?
Featuring stunning homes for sale throughout the kingdom.
Your guide for property and leisure related services.
october 2009
contents living departments
Living Homes
Ayara Surin,
Phuket
Traditional Thai Estate,
Min Buri
54 64
Perfect Symmetry and Priceless Views. The General’s Lake House.
Living Style Living Designer Living Furniture Living Places Living Shopping
82 86 90 94
She is ecclectic and versatile, meet Patricia Urquiola. Create your own style with Zeyco. Inspiring home decor at Treasure Trove. Lounge in the open air !
Living Leisure Elite Event Living Exterior Living Pleasure
102 104 116
Take a stroll around Hong Kong’s exclusive Club Marina Cove. Dreamy landscape designs from IS Delight. Enjoy the sweet smells of the P&L Gentlemen’s Club.
Worldwide
Tropical Living magazine promotes Thai property around the world through these select events and trade shows, putting thousands of magazines in the hands of qualified investors, home buyers and industry professionals with an interest in Thailand. Make yourself visible on the property radar, promote your business worldwide through Tropical Living magazine.
October October 2-4 A Place In The Sun Live NEC, Birmingham, UK October 10-11 SMART Investment & International Property Expo SUNTEC, Singapore October 15-17 100% design Shanghai Exhibition Centre, China October 15-25 Taste of Living property fair Siam Paragon, Bangkok October 29-31 Worldwide Property Show Hyatt Hotel, Dubai October 29- November 1 Yacht & Boat Korea Goseong Dinosaur Park, South Korea
November November 13-14 November 18-20 November 19-20 November 27-29
January 2010 January 7-10 January 8-10 January 23-31
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PIMEX Royal Phuket Marina, Phuket The Royal Trophy Golf Tournament Amata Spring Country Club, Bangkok Dusseldorf Boat Show Dusseldorf Exhibition Centre, Germany
International Property Show T-Modul, Moscow, Russia MIPIM Asia Hong Kong Convention & Expo Centre AMPS Conference Kuala Lumpur Convention Centre, Malaysia Hong Kong International Boat Show Club Marina Cove, Hong Kong
event calendar February February 2-4 International Property Show Dubai International Exhibition Centre February 22-23 Malaysian Land & Property Law Conference Organised by ABF
March March 16-19 March TBC March TBC
MIPIM Cannes Palais de Festivals, Cannes, France Architect Thaksin Central Festival, Phuket SMART Investment & International Property Expo SUNTEC, Singapore
April April TBC April 8-10 April 15-18 April 15-18 April TBC
A Place in the Sun Earls Court, London, UK China International Boat Show Shanghai Exhibition Centre, China Boat Asia Marina @ Keppel Bay, Singapore Interhome Expo Crocus Expo, Moscow, Russia Architect 2010 Impact Arena, Bangkok
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EXCLUSIVE INTERVIEW STORY : Voralak Suwanvanichkij IMAGES : Courtesy of Prime Mansion PHOTOGRAPHY : Chavalit Kamolthammanon
Rising Star Tanthawat Ruangsorn
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The lobby of Prime Mansion 31, an understated mid-rise building in the heart of the city, exudes an air of sophisticated elegance, sporting cream-coloured furnishings, mirrors, and damask wallpaper. Upstairs, the triplex penthouse boasts a similar feel, augmented with personal touches such as crystal decanter sets, designer china collections, and pots of deep purple orchids. A beautifully patterned Bengal cat surreptitiously strolls among the furnishings, blending with the exquisite decor. In the backdrop, unencumbered views of the central Sukhumvit skyline unfold, completing the setting that is home to the Ruangsorns, the mother-son team behind upscale developers Prime Mansion.
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Family Dynamics With a relaxed, unassuming air, Tanthawat Ruangsorn, the youthful managing director of the company provides background on the business, saying: “My mother [executive director Ngamnich Ruangsorn] has been involved in real estate since the 1970s. The business eventually grew out of her love for project renovation, from traditional Thai houses to resorts, as well as for interior design.” Established in 1996, Prime Mansion reflects Ngamnich’s shifting interest to condo development. Prime Mansion 31 is their fourth project in the central Sukhumvit area; completed at the end of last year, all 71 of its luxury suites have been sold. With degrees from the University of Surrey and Sasin Graduate Institute of Business Administration, Tanthawat started working in the firm five years ago, explaining that it was a natural career path for him. “I have been exposed to this work at a young age and I enjoyed it, even before embarking on my studies. I found that I have an eye for detail, and learned a lot from observation and interaction with those in the field, including my mother,” he says. With tongue-in-cheek, Tanthawat then explains that we are in Ngamnich’s zone of the condominium, where her penchant for ornate decoration, brilliant palettes, and feng shui-inspired sensibilities is unabashedly on display. “My living space is more sparsely furnished, decked in earthy colours,” he laughs, adding: “Working together, we have had to adapt and compromise on our respective styles. I tend to be more focused on the functional aspect of design.” Collaboration between the two seems to be working. Prime Mansion 31’s mock-up room, including all its furnishings, was sold several weeks after completion and they are currently embarking on a unique luxury condominium in Sri Racha. Named Golden Coast, the THB 480 million project is the company’s first venture outside of Bangkok.
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Image is simulated by computer graphics
Market Opportunity Situated on east coast of the Gulf of Thailand, Sri Racha lies about 110 kilometres southeast of Bangkok, halfway between Chonburi and Pattaya. It is a heavy industrial zone consisting of manufacturing and shipping industries, supported by the sprawling port of Laem Chabang. While Sri Racha is hardly anyone’s idea of a luxury destination, Tanthawat says the area is increasingly attracting mid to upper income residents, including those who work in the industrial estates or Suvarnabhumi International Airport, both less than an hour’s drive away. It is also an ideal location for retirees who like being near the beach and golf courses, while being able to easily access Bangkok via an eight-lane motorway.
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He explains: “Sri Racha is part of the Eastern Seaboard, a rapidly growing economic zone that is second to Greater Bangkok in terms of population growth, economic output, and wealth. After doing research, we found that there is substantial demand for high-end housing, especially from a growing expat community, half of whom are Japanese nationals.” With little competition in the luxury segment of the condo market, the 77 seafront units of Golden Coast are meant to serve as primary residences. Tanthawat stresses: “There is real demand for our product from the target group. These are not second vacation homes – that market is still soft.”
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Golden Location Golden Coast’s location on a private cape complements the project concept. The site of over two rai of land boasts dense tropical underbrush and tall trees. Building restrictions dictate a mandatory setback from the sea, maximising green space around the development. In the two wings of the eight-storey building, units are built as a single corridor, ensuring unobstructed views from each room. Tanthawat confidently states that this is “the most
investment “as construction costs are relatively low.” In addition, he says the market has bottomed out and with project completion scheduled for mid-2011, demand should be more robust with renewed economic activity in the area. “The purchasing power of Thais and foreigners remains; they have only slowed their decision-making and buying behaviour.”
Down to the Last Detail Tanthawat is clearly a hands-on type of
beautiful spot in Sri Racha.” Some trees are more than
developer, involved in the planning of every detail,
50 years old, providing ample shade and helping
from the earth tones and minimalist forms that
keep the premises cool. Also, being on a cape, the
define the project setting to the high-quality fixtures
panoramic views encompass sparkling waters and
and fittings in individual units. Whether considering
beaches in Bangsaen and other parts of Sri Racha.
washbasin depth, bathroom design, or different
Also, this is an exceptional property, as “this is the last
types of storage solutions, “I’m always looking at the
such plot of its kind available for development in the
functionality of things,” he says.
area,” he says. He has also thought about the fact that some Despite its secluded surroundings, Golden Coast
investors will buy units as rentals, and is planning for
is five minutes from Sri
features that
Racha’s city centre.
especially cater
It is also within three
to Japanese
kilometres of shopping
preferences,
centres, markets,
including ample
international schools,
shoe cabinets,
and hospitals. Off the
open kitchens
main thoroughfares,
that allow
Sri Racha’s fishing
housewives
village roots remain;
to cook while
on the rickety piers and
monitoring
waterfront restaurants,
their children
the pace slows, offering
at play, and
a glimpse of life in
All images are simulated by computer graphics
bathrooms with separate wet
pre-industrial Siam.
and dry zones Tanthawat credits Ngamnich for locating the rare
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for those who like to soak in the bath. “We divide the
project site: “My mother had spotted this land years
room with a tempered glass buffer so bathers don’t
ago, and envisioned its potential.” While she did not
have to be near the toilet. It may look strange but it’s
act immediately, the current timing is ideal for such an
functional,” Tanthawat laughs.
21
All images are simulated by computer graphics
22
Facilities include two infinity-edge pools: one 18-metre pool for exercise, and one 40-metre recreational pool overlooking manicured lawns, the
Golden Coast Project Details
beach, and sparkling sea. “It’s hard
Developer: Prime Mansion Co., Ltd.
to swim laps when kids are playing
Architect: Architect 34 Chiang Mai Co., Ltd.
about so we included separate pools for different purposes,” he comments. At approximately THB 73,000 per sq m, “prices may seem high at first glance but consider the green area, privacy, facilities and quality fittings.
Interior designer: B-complete Construction Co., Ltd. Tenure: Freehold Condominium Unit sizing: • One-bedroom - 52.7-67.2 sq m • Two-bedroom - 67.6-96.5 sq m • Three-bedroom - 156.2 sq m
This also includes appliances, curtains,
Price: Approx. THB 73,000 per sq m
built-ins, and air conditioning,” says
Maintenance fee: THB 35 per sq m
Tanthawat. Since launching its pre-
Sinking fund: THB 500 per sq m
sales phase in August, Prime Mansion
Amenities:
has sold 30% of the units, with hopes of reaching 80% by year-end. And what lies beyond that time frame? With an existing loyal customer base in Bangkok, “we probably won’t desert Sukhumvit even though the area has heavy competition and declining growth potential. We may develop a second phase in Sri Racha, dependent on this project’s success,” says Tanthawat. The latter appears likely, given the ambition, insight, and diligence of this young developer. Golden Coast are proud to work with Knight Frank Thailand, for more information visit www.golden-coast. net or contact Knight Frank on tel: +66(0)2643 8223.
• 40 m infinity-edge pool • 18 m infinity-edge pool • Large gardens • Fitness room • Steam and sauna rooms • Changing rooms • Shuttle bus • 24-hour security, CCTV, keycard access • Separate passenger and service lifts • Parking lot Surroundings: • Sri Racha city centre – 2 km • IT Mall – 3 km • Robinson Department Store – 3 km • Night Square Bazaar – 2.5 km • Nongmon Market – 10 km • Assumption College Sri Racha – 3 km • Thai-Japanese Association School – 9.5 km • Samitivej Hospital – 1.5 km • Phayathai Hospital – 2 km • Laem Chabang – 17.5 km • Suvarnabhumi International Airport – 62 km
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MARKET WATCH STORY BY : Bill Barnett
Looking for Columbus If it was not for Christopher Columbus and his dogmatic vision that the world was not flat, perhaps we’d all be crowded into a claustrophobic continent called Europe. While personally I do like my morning espresso and a croissant from time to time, breakfast discussions lately have been dominated by talks of a flat property market in Thailand’s premier destination Phuket.
Branded Property Trend Tales of the unexpected show that Phuket is bucking the mixed use trend of hotel managed residences, which have ground to a stop in Europe and the US,
Upscale Market Moving While talk remains cheap and speculation is often as subjective
with 47% of H1 transactions taking place on these type of projects. Brand operators have delivered on their promises of premium
as the changing weather patterns, numbers are now rolling in so
selling prices per sq m with a
we can take a peak behind the curtain of the state of real estate.
market average of 55% higher
Based on the C9 Hotelworks ‘Luxury Villa Market Update Mid-Year
materialised value. Sales pace
Edition’ which focuses on upscale products priced from THB 65
for these units also outpaced
million and above, first half figures are considerably better than the
those of residential only offerings.
negative broader market sentiment would have us believe.
Mixed-use projects, which offered guaranteed returns, led
By the numbers there was a total sales volume of THB 3.5 billion
the pack in absorption rates and
in villa sales with 19 units transacting during this period. This can
remain the single most effective
be compared to a market size of available inventory of 92 units,
tool to stimulate sales.
which represent THB 10 billion of unsold properties. There are only 15 estates in which these units have been sold, with the largest
36
While this year has seen no
concentrations being in Kamala’s Millionaires Mile, Surin/Bangtao
new launches in the market this
and the rapidly growing Naithon beach area.
is now creating pressure on the
resale market which grew considerably the first half of the year registering THB 1 billion in sales and is expected to continue to grow further in size. Viewing the pipeline Raimon Land’s wellheeled Amalfi project adjacent to Amanpuri, and Gaysorn Group’s Cape Paradise projects continue to be on hold. The newly announced Similan Beach, a Ritz-Carlton Reserve hotel is moving ahead but the residential launch is pending. The only new entrant appears to be Laguna Phuket’s Banyan Tree Grande Residences, with 18 units priced from THB 125 million, which will come into the stream this year.
Luxury Villas Property Map Mid 2009
Percentage of Unsold Units Mid 2009 ( Hotel Managed vs Residential Villas)
Stabilising Costs Viewing developer margins and construction costs, we spoke to a number of quantity surveyors in the sector who share a common opinion, that it’s doubtful the current lower volume of building site will see a knock-on effect of significantly lower cost; and what has been a volatile commodity market is not levelling out. Steel over the past boom years was a wild card with China’s continued infrastructure demand and oil prices spiking. Commodities in the first half of 2009 are now back in line with costs from the same period of 2008. Labour costs though, continue to climb on an annual basis on the back of Thailand’s government policy to track inflation. The key consensus is that looking forward, developers will be able
Luxury Villa Projects at 30 June 2009
to mitigate risk more, and a stabilisation of gross margins will result.
37
at a greater pace than new units entering the fray. As global GDP is recovering already in many of the key purchaser markets this will see a staggered return to Construction Material Cost Trends Mid 2009
higher demand. Property remains a highly cyclical business and expectations are to see market recovery geared to 2011. As Phuket’s
versus flying. The lack of foreign
real estate industry moves
the year, for most businesses,
ownership and more importantly
higher in maturation both
they just wish it would end like
non-availability of debt look to
resales and an emerging high
a bad television sitcom. There
have a profound dulling effect in
end fractional market looks to
also remains question marks on
the short to medium term.
establish greater presence in
Heading into the last half of
Thailand’s political and economic uncertainty. Phuket’s resort grade property market remains highly
Future Outlook
the transaction scene. To sum it all up, while we
dependant on foreign demand
As for the luxury villa market,
don’t have a Christopher
and there are no marked shifts in
supply and demand fundamentals
Columbus and the world
growing domestic consumption,
are strong in this sector, with
is not flat; the luxury villa
where comparative markets such as
considerable barriers to entry for
market has demonstrated a
Hua Hin, and the eastern seaboard
new projects and the current lull in
resilience in troubled times
are more attractive due to driving
launches seeing products absorbed
and looks to continue to grow in the coming months and years ahead.
Average Sales Price Per Sq m Mid 2009 Bill Barnett, managing director, C9 Hotelworks Co., Ltd.
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LIVING NEWS Compiled by Rachel Williams
Leading Thailand luxury property developer Raimon Land’s latest issue of its exclusive research journal, Condominium Focus, has revealed the Bangkok and Pattaya real estate markets are showing positive signs despite the global economic downturn. While overall sales have undoubtedly been impacted and the gap between completed stock and actual transfers has widened, there has been no decline in property prices or off-plan take-up rates. Moreover, in the second quarter of this year condominium presales more than doubled those in the fourth quarter of 2008, the stock property index this month has recovered to its peak in August last year and a 10-15% fall in construction prices is set to fuel an upswing of new launches later this year. The respected research document further revealed the market’s resilience and growing maturity. While only 447 luxury condominiums were launched in Bangkok during the first six months of 2009, off-plan take up rates were still high at 73% and average per metre prices grew at a stable rate of 4% to reach THB 125,910 per sq m. Raimon Land chief executive officer, Hubert Viriot, said 2009 had been a challenging year so far for Bangkok property developers, but there were clear signs that a modest recovery had begun which was expected to continue as the year progressed with new launches expected. “This issue of Condominium Focus, as we have
Signs Of Recovery In Luxury Condominium Market
come to expect, is once again a fully transparent and independent evaluation of the luxury condominium markets in Bangkok and Pattaya,” he said. “We place high value on this level of research as it allows us, our customers and the industry as a whole to track
trends such as pricing, developer launch activity and areas where new supply is coming up in the future. It’s true, it has been a tough start to the year, but we fully expect the market to come back even stronger due to the shakeout of unqualified buyers and the ‘wait-and-see’ pent-up demand that has accumulated since last September.” Condominium Focus also investigated progress in Pattaya and discovered that an 18% fall in passenger arrivals in the first quarter of 2009 compared to the same period last year has led to a softening in demand for property in a market where 50% of sales are for holiday units. The drop in demand has led to lower prices in the resort city for the first time since 2003 to THB 93,744 per sq m. “Pattaya is a less resilient market than inner-city Bangkok due to its dependence on tourism and is consequentially less immune to ongoing political events and escalating fears of the H1N1 virus,” said Mr Viriot. “However, what we can also see is strong growth among Thai buyers under 40 years of age, who are looking for a holiday home and robust investment returns. This is very encouraging and will stand Pattaya in good stead in the future.”
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INDUSTRY INSIDERS STORY : Rachel Williams
Expert View on Capital Appreciation With the global property market moving and shaking, what you paid for your property last year may be quite different to its value today. However one thing is certain, that the property market will pick up as it travels through its boom and bust cycle.
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B
ut what can buyers expect in the long term? How much will a beachfront property in Thailand be worth in the future? And what
can owners do to increase its market value? We asked a three leading real estate agents their thoughts on the capital appreciation of property in Thailand.
Patima Jeerapaet managing director, Colliers International Thailand
1. What factors influence the capital appreciation of homes in Bangkok and Thailand in general? “Obviously, like any other market, supply and demand balance and general market sentiment are key factors.” 2. Do properties developed and operated by hotel chains generally appreciate better than non branded projects / estates? “Branded residences are expected to achieve a premium over unbranded residences, but the product is relatively new in the market and so evidence is still relatively thin.” 3. What factors can cause damage to capital appreciation? “Possibly the most important factor for a residential buyer is the quality of management. If this is poor, property can quickly devalue.” 4. When selling a property with significant capital appreciation, what tax implications await the seller? “There is no capital gains tax as such in Thailand, so the seller needs to pay income tax (corporate or personal) on the transaction. There are also transfer fees and, for corporate sellers, special business tax.” 5. How is tax computed and based on what documents? “Corporate income taxes are 30% of profits while personal income taxes are on a graduated scale. Transfer fees is generally 2% and special business tax 3.3%, although these are reduced to virtually nothing until next March as part of a government incentive programme.” 6. How far do expensive features e.g. home automation, security systems, large swimming pools, triple car port, maid’s quarters contribute to capital appreciation? “These are all significant features when it comes to selling properties, but to achieve appreciation broader based market factors (supply/ demand, quality of management, etc) are more significant.”
David Simister
chairman, CB Richard Ellis Thailand
2. Do unique homes (one off designs)
poor representation of residents
appreciate better than template
is detrimental to value. The
design homes eg. Laguna Phuket?
non-performance of certain developers not honouring their
1. What factors influence the capital appreciation of homes in Phuket and
“Branding certainly adds value;
commitments, impacts the capital
projects such as The Banyan Tree
appreciation of a project. Poor
Residences Phuket, The Residences
installation and maintenance are
at W Retreat Koh Samui and The
widespread problems that call for
basic economic concepts of supply and
Conrad Koh Samui Residences will
reliable property management.
demand. The increase in value of an
see faster appreciation than the
Dealing with these problems is
asset depends on the balance of supply
majority of one-off design properties.
a major part of CB Richard Ellis
and demand in both Phuket and Koh
This does not mean that cookie
Phuket’s operations.
Samui. Demand is directly proportional
cutter designs are used in these
to inbound tourism; and supply being
developments. The Residences at
limited in the best locations.
W are individually designed villas
hamstrings a project. When
and all units are fitted, finished and
developments are not set up
operated to a very high standard
legally, sensibly and in accordance
Phuket has a much larger demand.
and each villa sits on a unique
with Thai law, they tend to fall apart.
Phuket is one of the worlds leading beach
site. Attention to detail and careful
Developers must be careful when
destinations, last year the AOT (Airport
preparation from experienced
structuring legal ownership, be
of Thailand) reported a total 5,730,748
developers make these branded
it through a leasehold format or
passengers at Phuket International
projects extraordinary.
through a freehold company. They
Koh Samui? “Capital appreciation is driven by the
“Comparing Phuket to Koh Samui,
must also consider how to deal
Airport. Koh Samui remains a more boutique destination, but is definitely one
“A poor legal structure often
“The number of one-off
with the ownership and ongoing
to watch for the future with high quality,
developers who have created
operation of common assets
branded hotels and villas in the pipeline
unique properties to a high build
most effectively.
that will further advance tourism.
specification with a good finish and legal package are limited. Such
“A villa or condominium that
“The effect of scarcity is a major
properties rarely get resold and
is one of 200 similar units means
factor to consider when discussing
are often of a high personalised
that capital appreciation is more
capital appreciation. Prime beachfront
design. These projects find it difficult
likely to be limited. Small, bespoke
(particularly west facing) locations are
to compete with the know-how of
projects that stand out on quality
becoming a rarity. The unmet demand
larger developers who bring much
and location have greater
of people wishing to invest in Phuket
experience to the table.”
opportunity to increase in value.”
desirability of this type of property and
3. What factors can cause damage
4. What role does property
ultimately creates capital appreciation.
to capital appreciation?
management / estate
property enhances the value and
management companies “We should point out in the present
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“The biggest hindrance on capital
market sales and appreciation has
appreciation is first and foremost
slowed. Yet, prices have remained firm
poor property management. A
and buyers’ capital investments have
failure to preserve shared facilities,
been protected.”
maintain infrastructure and the
play when it comes to capital appreciation? “Property management is the most vital component for the long
term preservation of capital value.
for common good. When
market is opaque and transaction
CB Richard Ellis has been managing
dealing with communities with
information is not easily sourced.
properties in Thailand since 1990
contrasting expectations, capable
and has gained considerable real
management is needed to find an
working experience. CB Richard
answer that pleases all. Property
on a quarterly basis for both Bangkok
Ellis Phuket has grown in five years
management is of even more
and Phuket aimed towards investors
from managing three projects to
importance for resorts and holiday
and developers. We collate all
over 20, and has dealt with many
homes as tropical property requires
known market transactions to give a
challenges such as complex
a high degree of maintenance. In
current perspective on market trends
ownership structures and under
these situations owners are often
and conditions and outline current
funded budgets.
based abroad and must rely on site
and future supply of condominiums,
managers. It becomes essential to
hotels and villas. The report covers
“Often in Phuket our company has
find the right team that can handle
land and investment regulations,
been brought in once the project
problems confidently.”
tourism and economic news. I
has encountered difficulties which
“CB Richard Ellis produces a report
honestly believe it is the most up-to-
should have been foreseen in the
5. Usually capital appreciation
date and accurate report within the
original design. Many developers
is being calculated by using the
Thai market.”
disappoint customers by omitting
sale prices of similar comparable
services and equipment or
homes. How can one obtain
6. Often people hear that sea view
under capitalising the set up of
unbiased information of sales prices
property will have better capital
management operations. In
of those homes?
appreciation than inland property.
these instances CB Richard Ellis
Is this true?
has endeavoured to provide
“In Phuket and Samui the numbers
effective solutions that benefits the
of property resales are low in
owners and preserves the value of
volume. Unique properties make
becoming scarce and will benefit
their investments.
it even harder to apply an index
from better capital appreciation
of capital appreciation as used in
compared to inland property.
other markets such as Hong Kong or
Demand for beach front housing
the UK. Generally, in Thailand, the
remains evident whilst the supply
“Multiple ownership can make it problematic to act decisively
“Yes, sea view property is fast
of such projects is very limited. This results in higher premiums being offered for sought-after locations.” ................................................................ In summary, the key message from the experts appears to be regarding the maintenance and management of your tropical home. Whether a seaview villa or an inland condominium, it pays to find the right company to take care of all your property’s needs to retain its value in the future.
43
Capital Appreciation in Phuket To delve deeper into this subject,
The profits are not only exclusive
Tropical Living spoke to Phuket Land,
to sea view properties, projects
an experienced real estate agent,
in sought after locations, such as
who have been finding people homes
Lakeshore Villas and Sai Taan have
in Phuket for over 20 years.
also gained approximately two times the investment when resold.
The feedback from Phuket Land
Well resolved, but less expensive
is that strong seaviews and proximity
properties can and have done
to beaches and resort centres
extremely well also. The Asian
continue to support strong capital
themed pool villas by local Thai
appreciation. In line with the other
company Two Villas, have excelled
commentators findings, those in a
on less prime sites, creating interest
branded resorts tend to sell at a
and capital appreciation for
premium and sell more easily than
owners by offering good design at
standalone properties. However the
affordable prices.
original investment cost for standalone developments offsets this somewhat by usually being lower.
Lakeshore Villas: Sold off plan 2001 at THB 22m, latest resales are reported in upper THB 40m’s to lower
Without exception, resales in west
THB 50m’s.
coast ocean front developments and almost all developments and
Two Villas: Sold in 2000 for USD
standalone properties with strong
150,000 – 250,000, after a two year
seaviews, situated up to 400m away
period achieved 150% of the original
from the sea, that were developed
investment when resold.
between 2000 and 2003, have resold in the period 2003-2009 for at least
Temporary oversupply is at present
two times the original investment cost.
tarnishing this positive picture for
Projects include Ayara Surin, Ayara
many market segments, but anyone
Kamala, Trisara.
with the budget to buy and develop the remaining ocean front plots in
Ayara Surin: Villas which sold off
44
Phuket, especially those on the west
plan in 2001 at below THB 30m, have
coast should still see a two times
transacted up to the mid THB 80m’s
return on investment by completion
within the last 18 months.
of the property.
LIVING NEWS Compiled by Rachel Williams
The Asian property investment market enjoyed a stronger second quarter of 2009 following a subdued start to the year, with direct real estate investment volume edging up 41% from the first quarter, according to international property consultants CB Richard Ellis. The improved investment turnover was attributable to a certain extent to debt-funded owners compromising at current price levels and liquidating assets to service near-term debt obligations. Despite the improvement witnessed in the second quarter, however, transaction volume remained thin in the first half of 2009 compared to the corresponding period in 2008, falling by 58% year-on-year to approximately USD 12.4 billion.
Sentiment Stronger for Asian Property Investment Market
standoff during the early months of the year. However, as deleveraging on institutional investors begins to gather pace, particularly for those investors with assets which have experienced a certain
Investor sentiment in the region generally
to mainland Chinese investment. In India,
degree of price correction, we can expect
turned more positive as the first half of
the formation of a stable government
to see more transactions taking place over
the year progressed. Hong Kong,
coupled with the utilisation of Qualified
the second half of the year.
Singapore and Taiwan experienced
Institutional Placement (QIP) by real
the largest quarterly rebound in
estate companies to raise new funds
Bangkok Overview
transaction volume, up 302%, 297% and
provided a boost to the domestic
There were no whole building sales in
151% respectively in the second quarter.
property investment market.
Bangkok in the second quarter. “This was due to few buildings being offered
The same quarter also witnessed a rise
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in land acquisitions in China as big local
Lenders Remain Selective
for sale rather than lack of demand for
developers scrambled to snap up land for
Since the beginning of the year central
income producing buildings,” according to
future development in anticipation of the
banks across the region have increased
Kulwadee Sawangsri, executive director
imminent appreciation of land prices.
money supply and lowered policy rates in
– head of investment and land services at
a bid to alleviate pressure caused by the
CB Richard Ellis.
Direct real estate investment in the region
credit shortage and restore inter-bank
was concentrated in a selected number
lending activity. While a number of
There has continued to be demand for
of countries, with the market dominated
developers and REITs successfully
development sites for condominiums both
by Japan which accounted for 44% of
obtained fresh capital from stock
in the central business district and along
total turnover. China and Hong Kong
markets during the review period, lenders
mass transit routes. There has been no
represented 18% and 15% respectively.
remained cautious and demanded lower
evidence of a decrease in prices for land in
Despite the significant contraction of
loan-to-value (LTV) ratios for property
the central areas.
total investment turnover in the first half
financing and refinancing, in light of what
of 2009, India and Taiwan ended the
they saw as a lack of evidence of
“We expect that local investors will be the
six-month period with positive year-on-
property values amid the widespread
dominant force in both site and building
year growth, surging by 339% and 12%
correction in property prices. Banks
acquisition in Bangkok over the next 12
respectively. The change in investor
remained especially reluctant to provide
months as foreign investors focus on the
sentiment in Taiwan primarily resulted
finance for large transactions. These
larger more liquid markets such as
from the opening of the domestic market
factors consequently led to a market
Australia and Japan,” added Kulwadee.
TOP TIPS STORY : Marie Moon PHOTOGRAPHY : Nakarin Banjerdjin
Maintaining
Traditional Thai Homes
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A
ndreas (Andy) Ruthe is managing director of TCM Asia, a company that specialises in the import and application
of all kinds of surface cleaning, coating and conservation solutions to fight against environmental damaging. Over the past eight years Andy has searched for and personally tested all the products he represents. The specially selected products all require specialist application and are not available elsewhere in Asia.
It’s ironic that the tropical weather we live for is the undoing of the Thai villas we live in. That delightful trinity of sea breeze, sunshine and tropical rain reeks havoc on wood, metal, stone and glass, all elements of the quintessential Thai villa. Yes, traditional Thai houses are as needy as they are beautiful.
Applied to wet timber, the solution is sucked into the pores and spaces of the wood. After a second and third coating is bonded to the first coat, deep in the wood, there is no lifting or peeling. Colour pigmentations have the highest possible UV resistance and once the product has been used there is no need to sand or grind the timber again, greatly reducing the long term maintenance costs.
Interior Wood Problem: Wooden floors become buckled
Exterior Wood
Andy recommends
UV rays, humidity and termites are just some of the forces at work degrading wooden structures. Most people find their wooden surfaces need treatment every six months. “With most timber protection solutions the manufacturers produce something for the Australian climate or for the European climate which might be harsh, but never like what we experience here. The Thai climate is vastly different.” Problem: Wood becomes warped, discoloured, rotten “When working with timber installations architects need to specify adequate ventilation, concrete waterproofing, long-lasting termite protection and enough space for the wood to breathe. If you use timber that is too wet or too dry it is going become warped as it naturally expands and contracts. Likewise if you paint a glass-like varnish finish onto a wooden surface it will split the moment the wood expands.” Andy recommends A capillar closing concrete crystallisation technology like Radcon or Penetron for concrete waterproofing – a spray or brush application onto the cement surface from any side, the positive or negative, can stop water even post installation.
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Woodbliss anti-termite treatment can be brushed on, or injected into existing timber structures of any kind. A mineralising process crystallises the cell structure of the surface, so the termites think it is rock and move on to find something else to eat. Woodbliss offers lifetime protection and is totally poison-free. Spa N Deck from Flood Australia is totally different from conventional varnishing methods. The magic of the product is that it is flexible so it can move with the natural expansion and contraction of the wood.
“Timber is a natural material, it shrinks and expands. With timber flooring you need to leave a 5mm gap between the timber’s edge and the wall to avoid buckling. I see these basic mistakes repeated again and again in Thailand.”
Problem: Scratches on high gloss finishes Andy recommends “I found a company in the US that produces a tung oil based interior floor protection called Waterlox. The floor can still be scratched but the point is that you can spot fix small areas of the floor, you don’t need to re-coat the entire area like with urethane products.”
For stones used in interior settings like granite, marble and terrazzo in the home, Andy recommends the Moeller Stone Care range for cleaning, protection and maintenance.
Glass Protection Problem: Stains, residues and mineral build up
Problem: Intense sun results in fading of flooring and furniture Andy recommends KristalBond is a protective glass coating applied to the inside of the window. After an hour it hardens into a new layer of glass. Containing nano-particles that absorb heat and reflect UV rays, you get 99% UV protection and 90% reduced re-heating effect, important for energy saving and reducing the amount of fading of furniture and flooring.
Exterior glass picks up organic particles and minerals in dust and salt and the sun bakes these onto the glass. Andy recommends Seaside properties - Lotus hydrophobic
Natural Stone
glass coating is water repellent and dirt reflecting using nanotechnology based on the lotus effect; picture droplets of water rolling across a lotus leaf.
City properties - Self-cleaning photo Problem: Mineral bleeding
Andy recommends “A common problem we see with natural stone is mineral bleeding, this can be prevented by using trass cement; fine milled volcano stone powder mixed with Portland. Trass cement binds all the free minerals together so they cannot bleed out.”
Problem: Mould, algae, corrosion and discolouration Andy recommends Sandwash Refit can restore all sand wash surfaces to amazing results within hours. The chemical solution removes rust, stains and oxidization, restoring the surface to near brand new conditions.
catalytic coating is a hydrophilic water attracting coating, in combination with titanium oxide, that degrades the organic particles present in smog and other pollutants. The photo-catalytic process only works on organic materials so it’s no good on a seaside window which is affected by inorganic minerals. Rather this is a solution for city-based properties that get exhaust fumes and organic particles building up. Lasts for over 10 years and actually cleans itself each time it rains.
Metal Protection Problem: Stains and corrosion
Andy recommends Photocoat is a breakthrough in maintenance using nanotechnology to produce a self-cleaning surface coating. It is based on titanium oxide which reacts with UV rays to degrade organic particles. Ongoing maintenance is minimal, significantly reducing costs.
The best protection for all metal surfaces is Nano 2K lacquer. Based on the lotus effect this self-cleaning state of the art protection for metal comes from car lacquering technology.
For more information visit www.tcm-asia.com
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PROPERTY PROFILE STORY : Stephanie Roy PHOTOGRAPHY : Nakarin Banjerdjin
The General’s
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BANGKOK
Lake House
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When American financier Gene Davis decided to shop around Thailand’s property market after the economic crisis of the late 1990’s, he found a traditional and uniquely Thai style residence tucked away on the outskirts of Bangkok. As a lakeside estate, the property is situated on roughly 23 rai of land and as Gene describes it: “ feels a million miles away from the city.”
Once a Household Retreat Growing up in New Orleans, Gene spent many years waterskiing. It was the private access to the surrounding lake more than anything else that sparked his interest in the property. Over the last 10 years, Gene and his family have utilised the house on the weekends for not only water sports, but also inviting friends and family out for a quick city escape. While this weekend retreat has provided a decade of fun times, Gene’s recent relocation to Beijing is the reason he’s decided to sell: “It’s a beautiful golden teak structure, but if there’s no one here to properly care for it, like with most things, it will deteriorate”, he explains. With the family visiting Thailand only twice a year, he believes it’s better to put the house on the market and find an owner who can dedicate more time and attention to the property’s upkeep. As the former residence of a senior police-general, the property’s original name is Beung Naiphol, which roughly translates to the “General’s Lake House”. Originally built and designed by craftsmen from Ayutthaya, the layout is split into four Thai style houses. Each house was designated to a member of the family with the general and his wife using the two bigger homes and each of the two children utilising the two smaller units. The larger houses are elevated and consist of a master bedroom, two guest bedrooms, a central living area and kitchen facilities on the lower level. The smaller units are essentially half units with two bedrooms and a bathroom.
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Modernising While Preserving After purchasing the property, Gene explains that he renovated and updated the estate. With the help and expertise of Thai designer Prinda Puranananda, of Bangkok design firm Cowperthwaite and Puranananda, Gene was able to update the interior for more comfortable living areas while maintaining the traditional Thai aspects. He explains that instead of keeping the traditional style bathrooms, they opted to include more contemporary elements such as bathtubs and stand alone sinks. The original paint was stripped from the walls to expose the teak, which was varnished with a clear coat to give a much lighter and truly golden teak look. The addition of ceiling fans along with an outdoor sala, which overlooks the swimming pool and lake are all features that contribute to the resort like feel of the property. Gene explains that while the property has its pros and cons of alfresco Thai style existence, he’s made the necessary changes for living more at ease. While the living areas are open and exposed to the outdoors, screens have been created on the windows to keep out insects, particularly mosquitoes. Apart from the interior decor, the estate still offers many traditional aspects including the water well. “It’s remote enough so that you’re not drinking city water,” Gene comments. The lake is swimmable, and the addition of the swimming pool gives the option of relaxing in the sunshine after a day of water sports on the lake. A squash court was later built while a major landscaping overhaul transformed the estates outdoor area into smooth walkways suitable for evening strolls. For those into fishing, there’s a large variety of fish in the pond. The golf course next door is an added bonus should the need to fit in a bit of recreation with leisure arise.
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Room for Expansion Located in Min Buri, this was a housing project originally set to cover roughly 400 rai of land. After the global financial markets collapsed during the first Gulf War of 1991, the developers experienced financial difficulties and only managed to build one house. This resulted in a large lakeside estate surrounded by a tremendous amount of land meant for a residential area. Apart from having the entire lake to yourself, Gene explains that for those with ambitions of building an even bigger compound or adding to the property, there’s plenty of room to do both. “It’s a well constructed and well preserved Thai compound”, Gene explains, “There aren’t too many left like this”. He states that as Bangkok becomes more and more polluted, having an outdoor setting isn’t as appealing, as it is extremely demanding to keep the area clean. This property is just the right distance away, which makes it clean enough and free from the elements of the city. The air is much fresher and the surroundings are quieter, which makes it essentially more relaxing than being in the middle of town.” Gene believes that upon arriving at the property, it will explain itself.
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For more information contact sole agent CB Richard Ellis, telephone +66(0)2 654 1111, www.cbre.co.th. Property: Traditional Thai lakeside residence Location: Min Buri, Bangkok outer suburbs Plot Size: 23 rai Buildings: Four traditional teak houses Main house: Master bedroom, two guest bedrooms, central living area, kitchen, office. Guest houses: Three houses, each with two bedrooms and a bathroom Special Features: Swimming pool, water ski lake, squash court, garden, sala, pond with fountain Price: THB 85 million
LIVING SHOPPING Compiled by : Stephanie Roy
Live Life
Al Fresco
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b 95
96
97
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a Absolutely Fabulous Classic & Contemporary Interiors Tel: +66(0)2 635 2040, www.absolutelyfabulousthailand.com b Chanintr Living – Dedon Brand Tel: +66(0)2 655 0418, www.chanintr.com c Deesawat Tel: +66(0)2 521 1341, www.deesawat.com d PLATO Tel: +66(0)2 236 5851, www.platoform.com
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LIVING EXTERIOR STORY: Dan White IMAGES: Courtesy of IS Delight PHOTOGRAPHY: Chavalit Kamolthammanon
Atmosphere by Design
Thailand is a country where natural waterfalls and beautiful national parks are plentiful. Whether its the eerie formations of Khao Sok in the south, the accessible beauties of Khao Yai only a hop away from Bangkok, the forested splendour of Sai Yok near the Burmese border or the magnificent wilds of the north around Mae Hong Son, Thailand is well endowed with incredible natural beauty.
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Gazebo modern style
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T
hailand is also a country where developers have a desire to transfer that natural beauty into structural elegance. With a tourist industry and hospitality industry unrivalled in Asia there is a great demand for the creation of ‘atmosphere’. IS Delight landscape and gallery succeed in echoing that amazing variety and
glory of nature in both the residential and the hospitality sectors. It is a tall order requiring conceptual intelligence and technical know how. These two qualities combine to create a professional prowess, which, within the landscaping industry makes IS Delight unique.
Beyond Spa
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Anirut Suksukon, chairman of IS Delight Co., Ltd was born in 1972. He graduated with a major in architecture and has built up 15 years experience working as an architect. He established IS Delight in 2003, which was his life ambition to create a business he is so passionate about. Anirut plans to continue driving the business forward and hopes to achieve SET market approval in the next three years.
Natural Creations IS Delight is a one stop shop where creativity and practicality merge to form beautiful, natural environments that can be conjured up on demand. Whether for private villas in Bangkok or complex high-end resorts in locations such as Koh Samui, Phuket and Pattaya, the team meets the challenge. They create attractive rock formations, natural looking pools, and glistening waterfalls that grace gardens, foyers, and homes throughout Thailand and increasingly throughout the region as a whole. The product may look effortless but the work that goes into developing the formations is painstaking. Firstly, there is the need to establish the concept. The company work closely with their clients to gain a thorough understanding of what they want to achieve. What is their vision? What atmosphere do they wish to create? The next step is to run through the practicalities and discuss how to bring that vision alive. This is where the immense technical know how comes into play.
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Hi Tech Design The main products employed to bring the magnificent designs to life are cement and fibre glass. From these materials, waterfalls, fountains, and rocks damp with natural water emerge from a hidden hi tech process where the skills of modern science and design mimic the works of the natural world. IS Delight re-creates the aesthetics whilst eliminating the problems that occur with the natural reality. An example of this is the hot springs park near Chiang Mai. It is a haven of relaxation where nature fuses seamlessly with man made creation in a welter of tranquil waterfalls and rocks on which to clamber. This combination of what is natural and what is created by man complements the experience of the hot springs – an experience both therapeutic and pleasurable drawing on all the good things that mother nature has to offer.
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Fang National Park hot springs, Chiang Mai
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Waterfall with fish pond
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Muang Samui Villa and Suites, Koh Samui
Exclusive Offering IS Delight has few competitors, simply because the company has worked hard to create their own niche, in which their expertise is a matter of targeted precision. Clients both old and new recognise that when it comes to a certain kind of complex landscaping, they are the specialists in their field. Applications for the landscaping products include high-end residential projects, condominiums, top-level resorts and major urban developments. In addition to custom design projects, the company also provides a full range of ready-made products, such as Jacuzzis, rock formations discretely wired with electricity and weathered wooden beams made from fibreglass that look utterly real but do not attract ants. The future plans for the company includes expansion to all major destinations across Thailand. Through a network of agents and dealers the custom made designs and ready-made products will be available locally from Chiang Mai and Pattaya to Phuket and beyond. IS Delight is the practical solution for the creation of atmosphere, that take on a project from concept through to final production and subsequent maintenance. They are the one stop shop of complete landscape design. For more information visit www.isdelightlandscape.com.
IS Delight are planning a special event in Phuket at the beginning of November, further details will be announced on the www.tropical-living.com news desk.
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ELITE EVENT
Maritime Marvel Boating enthusiasts can enjoy a leisurely autumn weekend strolling around Hong Kong’s Club Marina Cove from 27-29 November for the Hong Kong International Boat Show 2009. The show promises to excite with approximately 50 exhibitors displaying everything from dinghies, speedboats, watersports equipment and other marine accessories, to the latest design in megayachts. World leading brands from France, Italy, England, Australia, the US, Taiwan and China are expected to be on display.
Club
Marina Cove is one
are hoping for a repeat of the 2008
of the oldest and
event. “To be honest I was very
most respected marinas in Hong Kong
surprised with the sales of some dealers
and draws the crowds from the city
last year. One dealer sold about four
to this well equipped venue to enjoy
boats, ranging from 60 ft to 100 ft
the coastline every year. Despite the
(three owners bought our debentures
economic climate it seems that boat
and have boats arriving next year),
lovers in the region are still drawn to
and various dealers each sold three to
Club Marina Cove as Maria Carrillo,
five boats, ranging 25 ft to 50 ft (most
assistant general manager, explains: “I
of which are already moored in our
must say our marina is doing well this
marina). Having said that, I believe
year, as unexpectedly, we sold quite
the two shows in Hong Kong [held at
a few new membership debentures
Club Marina Cove and the Gold Coast
and vacant berths ranging from 25 ft
Yacht and Country Club] definitely in
to 100 ft are being occupied. We are
some ways have helped those dealers
now reconstructing our other basin to
reach such sales levels during this
accommodate bigger boats ranging
difficult time.” says Maria.
from 70 ft to 140 ft.” For more information contact It appears that the passion for boating
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Club Marina Cove, telephone +852
is still strong, and with the success of last
2719 6622 or by email at cmcltd@
years show, the organiser and exhibitors
netvigator.com
are media partners, please visit our booth to pick up the latest copy. Event: Hong Kong International Boat Show Date: November 27-29, 2009 Venue: Club Marina Cove, 380 Hiram’s Highway, Sai Kung, Kowloon, Hong Kong
The Gallery If you have a property for sale or rent which you would like featured in our gallery then please contact the gallery manager, Ying at +66(0)76 271 111 or gallery@kinnareemedia.com
THE GALLERY
For more information e-mail gallery@kinnareemedia.com or call the gallery manager, Ying at +66 (0) 76 271 111
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Deva Yama Phuket
Deva Yama is an exclusive development of truly luxurious villas located atop a hillside in Phuket’s millionaires mile. From your lofty perch you will enjoy billion dollar views of pristine Nakalay Bay. Meaning ‘divine sanctuary’ in sanskrit, Deva Yama offers a perfect retreat from the pressures of the world. Deceptively simple design soothes the soul, drawing the eye to fabulous sea views. Deva Yama comprises of eight superlative villas. Set within 6,000 sq m. (almost two acres) of wooded hillside, the elevation of the site drops by 25 metres (approx. 82’), meaning that each exquisite property enjoys superior privacy and unique vistas. Find your own piece of paradise on the last prime cut of land on Phuket’s west coast. Phase A villas are ready to move in by December 2009.
www.deva-living.com | +66 (0) 76 271 333 122
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Stylishly Thai Phuket
With an elevated Surin beach hillside location, this substantial, modern Thai influenced pool villa affords picturesque west coast ocean views. This quality villa is presented over three stories and features five bedrooms with en suite bathrooms designed to a spacious professional standard, fully fitted kitchen that adjoins the formal dining room on the upper floor. The middle floor includes two well designed bedrooms. The upper floor houses features two master bedrooms overlooking the ocean with an oversized living room. All rooms here have vaulted ceilings and shiny wooden floors. On the same floor is also the 16 metre pool with two covered salas.
Tel: +66 (0) 81 892 9495 123
THE GALLERY
For more information e-mail gallery@kinnareemedia.com or call the gallery manager, Ying at +66 (0) 76 271 111
C
Coastal Living Phuket
Style and Convenience in a Prestigious Location
As part of the Ayara Surin residential development, this villa for sale offers privacy, modern style and convenience in a prestigious location. Nestled against the steep slopes of Surin Hill featuring wonderful views of Surin beach, the Amanpuri headland and the Andaman Sea. This villa has been painstakingly maintained and is ready to move in for those buyers looking to buy a prestigious Thai style residence at an attractive price.
Tel: +66 (0) 81 892 9495 124
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Thaibali Phuket
With only four exclusive pool villas, few places can match the true privacy guaranteed at this oasis just minutes from Bang Tao Beach. One pool villa is now available for sale. The villa combines the simple elegance of Thai and Balinese design. Natural elements like indoor gardens, moon roofs and water features imbue a sense of tranquility throughout the villa. Additionally the pool villa is fully furnished with a stylish Asian theme and a well equipped western kitchen. While you wait for dinner, enjoy a cocktail and a cool dip in the pool or Jacuzzi. Retreat to the privacy of the master suite and glorious en suite bathroom and emerge refreshed. With two guest bedrooms, the pool villa is spacious enough for up to three couples to enjoy the villa amenities. www.phuket-thai-bali.com | +66 (0) 76 271 111
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Modern Tropical Phuket
This stylish tropical home in Phuket was recently finished and is now on the market for sale or long term lease. With a land area of +400 sq m. it offers plenty of room for a family up to six persons. The property features three spacious bedrooms with en suite bathrooms, with a master suite that occupies the entire second floor with its own walk-in closet and oversized bathroom. The substantial living - dining room overlooks the pool and landscaped gardens and links to a fully equiped western kitchen, a guest WC, storage areas and a seperate maids room with bathroom. The tastefully landscaped gardens wrap around the pool, Jacuzzi and salas as well as the carpark for two large cars. The owners are well known architects and interior designers in Phuket, who build tropical homes for descerning clients in the best locations. www.casanine.com | +66 (0) 81 514 8547 | info@casanine.com
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THE GALLERY
For more information e-mail gallery@kinnareemedia.com or call the gallery manager, Ying at +66 (0) 76 271 111
P
Phuket Golf & Country Homes for Rent Phuket The Phuket Golf & Country Homes estate is a boutique development of semi-detached town homes situated at the 14th tee off at Phuket Country Club, in the heart of Phuket island. Each unit offers spectacular views over the fairways and greens as well as surrounding mountains. The estate offers a private car park, landscaped gardens and a private pool with BBQ area. Minimum rental period of three nights up to one week. Long term leases are negotiable. These homes feature three bedrooms with private balcony, four bathrooms, large living and dining room and western kitchen plus a roof terrace to chill out.
For more details contact Sam at +66 (0)81 892 9208 or visit www.phuketgolfhomes.com
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Land for sale Phuket
Everyone wants to sell you plans for “The House of Your Dreams” or “The Land Plot of your Fantasy”, well - put them together and you have this! That is…as long as you don’t want a sea view, which can become somewhat black and boring once night falls, or a 126
residence “close to where the action is”. If you want either of these, don’t read on. However, if you want a magnificent and unblemished view of nature at its very best and the occasional passing golfer to ridicule; or if you want tranquility both during the day and night and free life membership to one of the best golf clubs on the island so you too can be cheerfully ridiculed; oh… and if you’d like to have complete drawings of a splendid house ready to give to a builder to get on with the job
on this unique plot (it really is unique!), then this may be yours, but it isn’t a give away. So, put your hand in your pocket and come up with THB 12 million and we’ll seriously think about passing all the above bounty to you. We’re not really interested in offers, but if it makes you feel better we’ll let you have it for 11,999,999 ! We’ll reduce it by a further million if you can show us a better plot on any golf course on Phuket island! Contact Tel. 081 892 9495 (Eng/Thai)
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The SEA Koh Samui
Thailand’s Premier Beachfront Residence…. “Completed without Compromise” THE SEA is a luxurious beachfront residence comprising of six boutique villas and 15 condominiums nestled along the enchanting beachfront slope of Bang Por beach, Koh Samui. All villas consist of three bedrooms surrounded by an exotic tropical garden offering natural scenery from every angle. Three choices of condominiums are available; one-bedroom, two-bedroom and two-bedroom duplex condominiums that comes with a private plunge pool. Each of the 15 condominiums features a spacious balcony and an outdoor Jacuzzi. The project is designed and decorated under the tropical fusion concept where western style is aesthetically mixed with Asian culture. With five-star facilities, THE SEA is not only the perfect place to become a home away from home but also an opportunity for investment.
www.theseasamui.com | +66 (0) 77 961 982, +66 (0) 86 340 6625
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T
The Heights
Thai Royal Residence
Phuket
Khanom, Nakhon Si Thammarat
Offering stunning views of the azure Andaman sea from its position high in the hills above Kata beach, The Heights Phuket is an inspired contemporary expression designed to complement the site’s unique natural environment. Simple and functional, the interiors are a true fusion of East and West. Large open terraces, expansive living areas, and the seamless spillover of indoor into outdoor spaces reflect the modern Asian design of the site. Using quality materials and natural finishes, experience harmonious living in its true form.
www.theheightsphuket.com | +66 (0) 76 284 602
An investment opportunity in a stunning ‘yet to be discovered’ beachfront paradise on the Gulf of Thailand. 34 villas - three, four and five bedrooms lie on 25 rai of land along a 200 metre stretch of Nai Phlao Beach. Living space ranges from 155-300 sq. m with prices from THB 15.5-25 million. All villas are sold turn-key, designed with superb quality, featuring five-star luxury furnishings for those seeking only the best. 50% of the villas are currently under construction with completion expected in December 2009. Additional amenities and services include a private reception area, daily housekeeping, a 300 sq. m infinity pool, full service restaurant, pool bar, beach service, fitness centre and five-star spa. Easily accessible from two airports and within close proximity to Koh Samui. www.thairoyalresidence.com | +66 (0) 2 126 8099
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