A significant change in the property market in Phuket, a trend which started late last year after a period of slowdown following the global crisis in 2008, the Phuket market is now enjoying a new wave of activity.
Going by the report of CBRE Thailand, a leading real estate consultant the new lease of life in Phuket’s property market was provided by Thai public listed developers such as Sansiri and Supalai entered the Phuket market in a significant manner with their projects focusing on the mass entry level market. It was an instant success with units being sold out within days from their launches. The success of the projects launched by these developers gave the much needed impetus to Phuket’s real estate market and other developers gained in confidence leading to the launch of their own developments.
Riding on the wave of this new-found success, Amari Estates have just a couple of months back began the pre-sales of its hotel-serviced residences located in one of Phuket’s most prime locations overlooking Patong Bay – the Amari Residences, Phuket. Backed by Italthai Plc, the development is fully managed and serviced by the existing Amari Phuket Resort, providing rental management and offering a 6 percent guaranteed yield for the first three years.
The is Amari Residences Phuket is a case in point for the current demand from buyers with its recently concluded 11-day CBRE Thailand Elite Living 2013 property showcase held at Siam Paragon recording a total sales of over THB 2.5 billion.
When complete at the end of 2014, Amari Residences Phuket will comprise of 148 one and two-bedroom residences and 12 three-bedroom pool villas situated above Patong Bay – Phuket’s most expensive location where land prices average THB 120 million per rai.
Commenting on the recent success, Yuthachai Charanachitta, CEO of Amari Estates & Italthai Group said recently: “In order to continue to build on this momentum and further market the development to the Thai market, we are planning a series of pre-sales events in Bangkok and Pattaya during the coming months.”
Architecturally designed as two and three-storey low-rises offering panoramic sea views from every unit, the project was awarded the ‘Best Architecture for Multiple Residence’ at the Asia Pacific Property Awards in early May this year.
Residents of Amari Residences Phuket will be able to avail the resort facilities that include:
- Restaurants including all day dinning,
- Italian gourmet restaurant and pool bar
- Two outdoors swimming pools with a kid’s pool
- Breeze spa & salon
- Fitness room with life fitness branded equipment
- Kid’s club and resort activities center
- Early check-in & late check-out lounge
- Boat jetty with tapas bar
- Beach access with sun deck
Meanwhile the residence facilities and services include:
- Residence facilities & Resort services:
- Clubhouse featuring swimming pool, sun deck, fitness center and pool bar
- 24-hour front office & concierge
- 24-hour security guards & CCTV
- Daily maid service & monthly engineering maintenance
- Hourly shuttle service to Patong Beach
- In-room dining & banqueting service, etc.
About the developer:
Amari Estates which is the real estate arm of Italthai Group. The Amari Residences Phuket is built on the success of the Amari Residences Hua Hin, the first hotel serviced condominium in Hua Hin which completed late last year. With the collaboration between Onyx Hospitality and Italthai, Amari Residences Phuket has been well packaged to offer a hassle-free investment where investors can enjoy extensive usage of their property as well as receive a yield payment annually through a professionally managed rental program.
Prices of the sea view condos at the Amari Residences Phuket start from around THB 7 million (US$228,000) with the villas selling for up to THB 50 million (US$977,000).
For more information on the Amari Residences Phuket you can contact their sales team at +66-76292378 or email them at firstname.lastname@example.org. More on the development is also available on their website, www.amariresidences.com/