Stories tagged with real
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Formula 1 Champion Opts for Phuket Lifestyle
The current Formula 1 reigning champion, Finland’s Kimi Raikkonen, has recently purchased a beachfront villa on the resort island of Phuket, in Thailand.
The luxury purchase by this high-profile foreigner is continuing evidence that Phuket is firmly on the map as south-east Asia’s ultimate destination for purchasing property that delivers both a lifestyle as well as return on investment.
Raikkonen bought a 279 square metre beachfront unit at the Outrigger Serenity Terraces Resort Phuket, which is a 78-unit combined residential and resort property situated on the south-east coast of the island. When the 2007 Formula 1 winner opens the curtains in his bedroom, he will gaze out on the Andaman Sea’s tropical islands, including world-famous Phi Phi Island.
Noted Raikkonen: "Having this kind of place, which is very exclusive, brand new and very high quality, is exactly what I'm looking for when I have a week or two off in winter. I can go and relax, be at home almost -- but in a warm and sunny place."
According to Phuket real estate agents, properties on the island are appreciating at around 20% per year. Research conducted by global property adviser, Jones Lang LaSalle, demonstrates that luxury villas on the island, costing in the range of US$1 million to US$1.66 million increased by 25% in the past year alone.
Posted by: Andrew on 12 Jul 2008, 22:41 -
Samui leads Thai property growth
The Thai government has made no secret that it has big plans for developing the country’s island resort destinations. The foreign investment in Thailand has fueled the economy, which has seen an increase of almost 6 percent compared to last year. The government has said publicly that it plans to push for private investment in the country, which is giving most of the benefits to the huge development plans currently underway on the islands of Koh Samui and Koh Phangan.
"Continued growth in Asia is excellent news for property investment in Thailand, especially in the emerging markets of Thailand's islands of Koh Samui and Koh Phangan, where growth is primarily fuelled by spiraling regional tourism. Property prices in Koh Samui, an island with more five and six star resorts than any other in the world, grew by 50% per year, in 2006 and 2007,� said IIF head of international research Liam Bailey.
He expected that Koh Phangan, as the newcomer to the Thai luxury property market would prove to be a hot location for some time to come.
Posted by: DaveB on 19 May 2008, 20:21 -
Samui’s development plans spur land demand
With the current Thai government whole heartedly supporting development on the island of Samui, and the subsequent interest in investment from housing and retail sectors, prices on the island are expected rise steadily over the next many years. The price of land on the island is expected to rise anywhere from 20 to 30 percent per year if the current trends and speculation continue at their present rates. These figures are according to Thailand-Estates Corporation’s chief executive officer Chaiyagarn Sudamphanthorn, who quoted retail land price hikes on Ko Samui as going from 10 million baht per rai in 2006 to 60 million per rai this year. Residential prices now float somewhere between 15 and 25 million baht for a decent location close to the beach.
As the island watches its commercial vultures swoop overhead, the price bracket of Ko Samui seems on ly set to rise, and Big C, Siam Makro and Tesco Lotus are all lined up to get their piece of the new and improved Ko Samui pie.
Posted by: DaveB on 05 May 2008, 11:28