Phuket Real Estate -
Another Resort Development

Some Phuket real estate is being developed following a model created in Florida USA; as someone involved in tourism to Thailand for many years, I am interested to see this evolutionary change.

You can now buy into a managed development (like the one depicted above) with the facilities and security of a hotel. This is good for both the permanent resident and those owners who wish to use the property to generate rental income. For a long time there has been a demand from more independent vacationers to have the freedom of an apartment-based holiday, and I believe the extra benfits of on-site facilities will attract even more people to this style of holiday.

When considering this type of Phuket real estate purchase, I personally would not wish to rely too much on the rental income. I was interested therefore when I read of the offer from the Mangosteen Suites and Pool Villas, to guarantee the rental income for the first two years.

Work on this development only started in May 2006 so I haven't had an opportunity to see it yet but apparently the first phase will comprise:

Mangosteen Pool Suites (19)

• 2 x Penthouses (3-bedrooms) 300 sq m with rooftop pool - both sold
• 5 x Pool Suites (3-bedrooms) 300 sq m with private 10 meter pool
• 12 x Terrace Pool Villas (2-bedroom) with plunge pool and pond

Unusually, reflecting pools are being used to form the roofs of buildings, which apparently will lower internal temperatures by 5 degrees Celsius.

The fully-managed apartments will be complemented by a village ambience and its hillside location means that guests will have breathtaking views of the sea and neighbouring islands. There will be a large courtyard swimming pool, restaurant, bar, bakery, delicatessen and mini-mart. Residents will also have full access to facilities at the adjoining Mangosteen Resort and Spa , including restaurants, pools, fitness centre and spa.

The next phase will be:

Mangosteen Pool Villas (25)

• 14 x Pool Villa (2-bedroom) 230 sq m with private pool 3 x 12 m
• 11 x Pool Villa (3-bedroom) 267 sq m with private pool 3 x 15 m

According to Hajo Von Keller, the Mangosteen Suites co-owner and developer, investors in the managed apartments will be able to vacation for up to 60 days yearly under the management contract with a gross variable 9-13 percent rental return – depending on term of owner occupancy (annual rental return of up to 7 percent is guaranteed for the first two years). Rental of apartments, for a compulsory minimum of two years, is through the existing 5-star Mangosteen Resort marketing program.

The estate will offer 5-star quality and maintenance with a low common area maintenance fee. Sale prices include all furniture and equipment for the rental scheme. Leasehold and freehold contracts are available.

If you would like to know more about the opportunities offered by this particular Phuket real estate development you can contact the Sales Team by completing the form below.

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