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Pattaya property market showing signs of recovery
Wareejinda Co,Ltd. PR
Pattaya is awash with building projects right now; some are on hold
temporarily, some have stopped completely, however even in these tough times
some developments continue full scale marketing campaigns and are seeing
encouraging results.
Luxury property developer, Raimon Land, has recorded impressive sales growth for
its Northpoint project on prime beachfront land in Pattaya, bucking the trend of
Thailand’s overall property sales performance.
As of July, the company has sold 72% of the 376 residential units in the
award-winning development on North Pattaya’s prestigious Wong-Amat Beach. Due to
open in early 2010, Northpoint’s two towers of 54 and 46 storeys have achieved
sales of THB 3.3 billion, with 269 units sold.
Raimon Land Chief Executive Officer, Hubert Viriot, said the positive sales
clearly show that property buyers remain confident in Pattaya’s luxury real
estate market and in a resort destination just 90 minutes’ drive from
Suvarnabhumi International Airport. “These results demonstrate a belief amongst
investors and ourselves in the destination, which is driven by its location, the
increasing number of five-star hotels, new retail developments, and the great
outdoors lifestyle available” Viriot said.
Located on 80-metres of beachfront amid tiered horizon pools and specially zoned
sun decks, Northpoint also features spectacular Sky Gardens, state-of-the-art
fitness facilities, a kids’ playground and lush greenery.
The Cove is another project showing no signs of slowing down with construction
ahead of schedule. In a recent article in “Real Estate Magazine”, Petch Property
CEO Itthi Chavalittamrong stated that 43 of 103 units have been sold and
although price per sqm in Pattaya has dropped to an average of THB 93,744,
prices at the Cove have remained consistent at an average of THB 150,000/sqm.
In a lower price range Iguana are ahead of schedule with their Park Lane
development and marketing and sales continue to be steady.
Apus Condominium is another development that seems to be progressing very
strongly. Marketing Director Jason Payne claimed that September was one of their
most successful months to date. Over 400 interested parties registered interest
by visiting their sales offices or made contact by email. Sales were also very
encouraging with bookings confirmed at 14 units for September.
Payne was quoted as saying, “Interest in a quality product and priced correctly
will always be steady from investors, even in the more difficult times”
He said he also felt the reason why Apus Condominium had not really seen a
downturn in their business was that Investors could see that the project is
ahead of schedule, and that Apus is very proactive in their Marketing, which he
felt gave Investors confidence. In the first 6 months of this year, since
construction began, Apus had achieved 35% sales, however in the last 3 months
they have seen that figure rise to just over 65%.
This seems to be the case with other developments in the city that appear to be
weathering the down turn; all are actively building their projects, all seem to
be ahead of schedule and they also seem to have very active marketing
departments.
Just a small amount of Pattaya developers have been highlighted here but on the
evidence of this group, maybe Pattaya is seeing an upturn in business, or is
that these developers are helping create a positive mood within the property
sector in Pattaya and that is the reason why they are all experiencing very
encouraging sales figures. We will wait and see.
Raimon Land launches Private Residence Clubs in Thailand
Luxury property developer Raimon Land has announced a diversification of its
product portfolio through the launch of its first lifestyle products: The
Heights Private Residence Club, Northpoint Private Residence Club and The River
Private Residence Club.
The Private Residence Clubs will initially include three of Raimon Land’s
properties in Thailand’s most sought-after destinations. Each home within the
Clubs is divided into saleable fractions of 1/13th. This fraction entitles
owners to enjoy a minimum of 21 days per year at the Club in which they purchase
as well as unlimited use of space available time. Additionally, owners will have
access to a greater network of properties through The Registry Collection and
IFA Collection. Ownership is in perpetuity and can be sold at any time.
 (From
Left): Jeff Tisdall, Managing Director, RCI Middle East, Hubert Viriot, Raimon
Land CEO, and Piaras Moriarty, Vice President Client Management with IFA Hotels
and Resorts at the official announcement of the new Private Residence Clubs in
Thailand.
Private Residence Clubs represent the top tier of fractional ownership products
and are among the fastest growing sectors of the real estate and hospitality
industries. It is an innovative form of ownership that appeals to those who want
the security and advantages of an equity-based private club along with the
benefits of owning luxuriously appointed, prime real estate.
Piaras Moriarty, Vice President Client Management with IFA Hotels & Resorts in
the Middle East, said: “Owners in the Clubs will have access not only to their
selected property in Thailand, but can also exchange their days for access to
over 160 properties through the IFA Collection and The Registry Collection.
Likewise, the addition of these Private Residence Clubs provides our IFA
Collection clients access to three great new vacation options in Thailand.”
The IFA Collection consists of a luxury portfolio of international properties
developed by IFA Hotels & Resorts, a major shareholder in Raimon Land and an
international specialist in the development of mixed-use resorts.
Each of the Thai Private Residence Clubs offers a sanctuary of elegance and
sophistication specifically created to cater to the desires of its owners, which
have been designed, constructed and finished by the very best award-winning
teams in Asia and are furnished and equipped to the highest international
standards. Owners also enjoy unparalleled service when in residence with
dedicated staff available to pre-stock kitchens, book leisure excursions or make
dining reservations and arrange babysitters, laundry, transportation and even a
private chef when required.
“We are extremely excited by the addition of the Raimon Land’s Private Residence
Clubs to the IFA Collection and its expansion into Asia. Raimon Land and IFA
Hotels & Resorts are synonymous with quality and these three extraordinary
properties offer the level of luxury vacation experience we aim to deliver to
our members through The Registry Collection”, commented Geoff Ballotti,
President and CEO, Group RCI.
On-line property investors rush to buy the best Monopoly
property in the world
Real estate investors who are a bit nervous of splashing out because of the
global economic downturn can now try to buy almost any street in the world with
a new on-line version of the popular property game Monopoly.
A massive on-line, multi-player version of the Monopoly games has been launched
by toymaker Hasbro and Google. The free game will last until the end of the year
and uses Google Maps as the playing board.
The toymaker claims it will be the biggest game of Monopoly of all time and will
allow players to purchase almost any street in the world.
The goal of the game of chance, like the real-world version, is to earn money on
real estate and become the richest property magnate.
New players are given three million Monopoly dollars to build their virtual
empire with every street in the world, in theory, available for purchase.
Once a player has taken control of a street, they are able to charge rent and
build new virtual properties.
Streets can also be traded and sold with other players.
There are even the usual Chance cards but the on-line version is different in
that it allows players to sabotage neighbouring rivals by building rubbish
dumps, prisons or wind farms on their property to reduce the rent value of their
neighbours.
Players can only remove a hazard by bulldozing it off their property by using
other Chance cards.
Anyone interested in taking part can get access to the game at www.monopolycity
streets.com. (Source - Property Wire)
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