Thailand buyers look to Krabi


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20/05/2014

EXCLUSIVE: The political chaos that has rocked Bangkok has turned out to be a benefit for places like Krabi in southern Thailand.

The Centara Pelican Bay Residence and Suites, which showcased its investment to potential buyers and investors in Singapore last weekend, has yet to see any decline in interest as a result of the ongoing troubles in the Thai capital that last week saw former Prime Minister Yinkluck Shinawatra ousted from office.

Speaking exclusively to PropertyGuru Khun Ohh Ngamsappasilp (pictured), Executive Director for the freehold development, said she was very excited by the impending August completion of the first phase of what will eventually be Krabi’s largest multi-use development.

She said: “Foreigners have been avoiding Bangkok which is good news for us in Krabi.” She added that around 60 percent of sales to date have come from overseas buyers, especially from Singapore, Hong Kong and Scandinavia.

When completed in 2017 the resort, backed by trusted hotel brand Centara, will feature 29 luxury villas, a 250-key hotel and 94 hotel-serviced condominiums.

“Singaporean buyers are focusing on their purchase for investment,” said Khun Ohh, “while Thai buyers – attracted in no small part by the Centara brand – are also looking at using their investment for lifestyle purposes.”

The development, which was attracting strong interest at last weekend’s PropertyGuru International Investment Show in Singapore, offers 6 percent guaranteed returns for three years, with prices ranging from $290,000 – equivalent to around S$340 per sq ft.

 

 

 

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