Editor's note: This interview was originally published in 2013. Market conditions have evolved substantially in the intervening decade. Abercrombie & Kent International Estates was a genuine pioneer in positioning luxury travel and holiday home ownership as a natural continuum for the high-net-worth individual. The integrated resort community sector has since matured into a $50 billion-plus global segment, with branded residence programmes now a standard feature of any serious luxury development. The strategic framework Robert Green outlines remains entirely relevant to today's buyer.
Abercrombie & Kent International Estates (A&KIE) is the specialist real estate division of Abercrombie & Kent — the world's best-known luxury travel company. Founded to capitalise on the natural synergies between luxury travel and prime holiday home ownership, A&KIE markets and sells exclusive residential properties globally, from private homes to resort residences. We spoke to Robert Green, General Manager of A&KIE, about the Asian markets they prioritised, what they look for in a development, and what it means for buyers to own a holiday home in this part of the world.
The Interview
Tell us about A&KIE and how the division came about.
A&KIE is a specialist real estate division of Abercrombie & Kent Ltd., the world's foremost luxury travel company. We use A&K's reputation, global network, and extensive database of high-net-worth clients to market and sell high-end residential properties around the world. We operate a highly selective policy: we list only a limited number of the finest developments and resale properties, ensuring that our level of service is never compromised by volume.
Our team specialises across all residential property types — apartments, villas, chalets, fincas, ranches, châteaux — as well as land, estates, and vineyards. We cover new-build, off-plan and resale opportunities at the top of the market. The synergy between luxury travel and prime holiday home ownership is a natural one: people who have visited a destination through A&K's travel arm and fallen in love with it are often among the most motivated and qualified buyers when they decide to acquire a property there. The emotional journey from guest to owner is something we understand deeply.
Which Asian markets did A&KIE prioritise and why?
We focused primarily on Bali, Koh Samui, and Sri Lanka — three markets that offered a compelling combination of lifestyle appeal, improving infrastructure, and genuine long-term investment potential for the sophisticated international buyer.
Bali is probably the most internationally recognised of the three. Its combination of cultural richness, natural beauty, and a well-established villa rental infrastructure make it one of the world's more liquid holiday home markets. A well-managed villa in the right location — Seminyak, Canggu, or the Ubud rice-field belt — can generate rental yields that support a credible investment case, not merely a lifestyle one. Since we entered the market, Canggu in particular has emerged as one of Asia's most vibrant lifestyle addresses, attracting both long-term expatriates and a sophisticated short-stay visitor base prepared to pay premium rental rates.
Koh Samui in Thailand had matured significantly as a market even by 2013. It had a genuinely international buyer base, a developed legal and agent ecosystem, and infrastructure capable of supporting a quality lifestyle year-round. The island's second-airport connectivity had been a meaningful catalyst for the top end of the market, enabling direct or near-direct access from Singapore, Hong Kong, and the Gulf. The villa market here has continued to professionalise, with managed rental programmes now standard among quality developments.
Sri Lanka represented the most nascent opportunity of the three. The country has extraordinary natural and cultural assets — from the southern surf coast to the tea-country highlands and the wildlife-rich dry zone — and property values remained low by regional standards. The post-conflict recovery phase created an environment in which early movers could acquire exceptional assets at prices that reflected the country's risk history rather than its long-term potential. That calculus has since proved largely correct: Sri Lanka experienced a period of rapid tourism growth before the economic difficulties of 2022 temporarily interrupted momentum.
What should a first-time buyer in these Asian markets look for?
The fundamentals are consistent across all three markets: legal clarity, proven rental demand, and a professional management solution. In most Asian jurisdictions, foreign buyers cannot purchase land freehold — they acquire through leasehold structures, nominee arrangements, or company-held titles. The legal architecture matters enormously, and buyers who do not take proper independent legal advice before committing face significant risk. This is not a market where relying on the developer's recommended solicitor is adequate protection.
Beyond the legal structure, the quality of the management company is the single most important operational variable for any buyer who does not intend to live in the property full time. A well-managed villa in a strong location will consistently outperform a poorly managed one on the same street. We are very selective about the developments we represent, and management quality is a primary criterion in our due diligence process.
I would also highlight location within the market as a critical factor that buyers frequently underestimate. The difference in rental demand and capital value between a villa in Seminyak and one fifteen minutes further from the beach can be very large. Understanding the micro-geography of a market before committing is essential.
How do you evaluate the management companies you work with?
We look at occupancy track record — not projected occupancy, but actual achieved occupancy across a meaningful number of units over at least two to three years. We look at average daily rates and how they compare to the competitive set. We look at the owner accounting and reporting processes: do owners receive transparent, timely accounts of rental income and expenditure? And we look at the management company's staff retention, which is often a strong proxy for the quality of the operation overall.
The managed rental market in Asia has matured considerably since 2013. The entry of international hospitality brands — Six Senses, Rosewood, Raffles, and others — into the branded residence space has raised expectations across the board. Buyers are now more discerning, and developers who cannot demonstrate credible operational track records find it much harder to achieve sales.
What does the broader evolution of the market since 2013 tell us about where value lies today?
The integrated luxury resort community has become a mainstream investment category. What was pioneering in 2013 — the idea of buying a private residence within a managed luxury resort, with access to hotel services and a professional rental programme — is now standard practice. The global branded residence segment has grown into a market worth more than $50 billion, with Asia accounting for an increasing share.
That mainstreaming has several implications for buyers. On the positive side, there is much greater choice, much better management infrastructure, and much more transparent legal and regulatory environments in many markets. On the challenging side, the easy arbitrage of buying an early-stage development in an undiscovered location before the mainstream arrives is harder to find than it was ten years ago. The international buyer community is well-informed and well-connected, and quality assets in the best locations attract competitive interest quickly.
Where I do see opportunity is in the second-generation markets — locations that sit adjacent to established destinations and benefit from their infrastructure and visitor flows but have not yet experienced the same price appreciation. Parts of Vietnam's central coast, certain areas of Cambodia's coast, and some of Indonesia's outer islands fit that profile. Sri Lanka, despite its recent economic difficulties, retains long-term structural appeal.
What is the A&KIE buyer profile in Asia?
The A&K client base is, by definition, very well-travelled. Our buyers have often visited a destination multiple times through our travel arm before considering a property purchase there. They know the region, they have formed genuine attachments to specific places, and they have realistic expectations about what ownership involves. This makes them excellent buyers to work with — motivated, well-informed, and clear about their priorities.
The typical A&KIE buyer in Asia is buying primarily for lifestyle: a home base in a part of the world they love, available to family and close friends, with the option of placing it into a rental programme when not in personal use. Very few are buying purely as financial investments, though they are entirely rational about the investment dimension. Lifestyle and financial return are complementary, not competing, motivations for this buyer.
Geographically, our buyer base for Asian properties has shifted over the past decade. European buyers remain important, particularly for Bali and Sri Lanka. But we see growing interest from buyers based in the Gulf, from Singapore and Hong Kong, and from Australia. The Asian property investment universe has genuinely internationalised.
What due diligence should buyers do that they often neglect?
The areas where buyers most commonly short-cut their due diligence are legal structure and taxation. The legal structure questions — how is the title held, what are the residual rights at lease expiry, what happens if the management company fails — are often glossed over in the excitement of a purchase decision. These are precisely the questions where independent legal advice is indispensable.
On taxation, buyers from Western countries are sometimes surprised to discover that their home country may have reporting obligations for overseas property ownership and rental income, regardless of whether tax is owed. US persons face particularly complex obligations under FBAR and FATCA. UK residents have their own reporting requirements. Ignoring these obligations is not a viable option.
I would also strongly encourage buyers to visit the property and the location — in all seasons if possible — before committing. A villa that looks idyllic in January can be a very different experience during the monsoon. Understanding the seasonal character of a market is important for setting realistic expectations about both personal use and rental income.
What is your long-term outlook for holiday home ownership in Asia?
Structurally positive, but with meaningful nuance by market. The long-term drivers — the growth of high-net-worth wealth in Asia, the region's improving air connectivity, the professionalisation of the management ecosystem, and the sheer lifestyle quality on offer — remain compelling. Asia will account for an increasing share of global luxury holiday home investment over the coming decades.
The buyers who have done best in this market over the past decade are those who bought quality assets in the right locations before the mainstream caught up. That opportunity still exists — but the window narrows with each passing year as more sophisticated international capital enters the region. The time to act on a well-researched conviction in an emerging market is always earlier than it feels comfortable.