Property For Sale in Phuket

Perfectly located in one of Phuket’s most exclusive and fastest growing areas!

Benefits

• An excellent investment opportunity in a prime residential area of Phuket
• Strong rental returns and capital gains are expected
• The best property growth on the island
• 500m from Bang Tao beach, the most idyllic of all beaches on Phuket island
• Beach side restaurant “Babylon Beach Club” offers on-site gourmet cuisine

Property and pricing

• 61 units: Studio to 2 bedroom Penthouses with large terraces and private swimming pools 46 to 110 sqm living space including balcony



• Prices starting at:

Studio Suite – 46 sqm	4,940,000 THB	95,000 EUR	154,375 USD
1 Bedroom Deluxe Suite – 65 sqm	7,265,000 THB	139,715 EUR	227,031 USD
2 Bedroom Pool Suite – 110 sqm	12,930,000 THB	248,655 EUR	404,062 USD
2 Bedroom Penthouse – 110 sqm	13,485,000 THB	259,330 EUR	421,406 USD
Indicative Exchange Rate: 1 EUR = 52 THB / 1 USD = 32 THB – Prices are quoted in Thai Baht

Further details about the property

• Upscale residential area with several 4 and 5 star hotels nearby
• Courtesy bus to the beach
• Modern interior designs
• Resort facilities include: freeform pool + 25 meter swimming pool, fitness center, yoga & spa pavilion, pool bar, deli/coffee shop, business center, car park and owners storage center
• Construction to be started in Q4 2008. Completion due in Q1 2010

Financial incentives

• Expected net rental income of up to 14% after only 5 years
• 3 year (renewable) Lettings & Management Contract
• 50% developer financing available on the long-term lease units
• Projected capital appreciation: at least 9% per year over time

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Location & Surroundings

• Situated on the central west coast of the island in the top rated Laguna area, the property offers easy gateways to the north east and south coasts of Phuket but also to the central hills of the island
• Peaceful environment, neighboring high luxury resorts such as Dusit, Banyan Tree and Sheraton Beach
• Surrounded by superb beaches and golf courses
• Easy access from Bangkok by plane. Only 20 minutes drive from Phuket International Airport
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Payment terms - Additional purchase costs - Ongoing costs - Legal matters

• Payment terms:
  Reservation Fee: 80,000 THB (1,600 EUR - 2,500 USD). 3 week deadline to return all legal documents properly signed and make the first down payment. Further stages of payment will be reached as construction progresses.
  
  
• Additional costs:
  Legal Fee: 60,000 THB
  Transfer & Registration Fee: 2.50% based on the purchase price for freehold units. 2.10% based on value of lease for long-term lease units. (Both the seller and the buyer equally share this cost)
  One time Sinking Fund Fee: 200 THB per sqm.
  
  
• Ongoing costs:
  Monthly Maintenance Fee: 80 THB per sqm approximately. To be paid one year in advance.
  Monthly Resort Management Fee: 6,000 THB per unit for the first 3 years.
  
  
• Legal matters:
  Condominiums: The Development provides 100% freehold foreign ownership and long-term leasehold for condominiums. Pursuant to Thai property law, foreigners may have a freehold ownership over a unit in a condominium. However, condominium units owned by a foreigner shall not exceed 49% of the total space of the condominium project. Other restrictions may apply. A non-Thai owner of a freehold condominium unit may transfer the property to other foreigners. The remaining 51% will be sold to foreigners with a registered 30-year leasehold title, which is allowed by Thai Law in the name of foreigners, renewable for two additional 30-year periods. Thai nationals or majority owned (51%). Thai Companies are allowed to possess freehold ownership on all units.
  
  
Disclaimer:
The information and figures presented above are believed to be accurate but cannot be guaranteed. They are intended for the purpose of projection and analysis and should not be used for the preparation of income tax returns.