Movenpick units hold good value

Movenpick units hold good value.

Movenpick Residences on Karon Beach offers fully completed, fitted leasehold apartments - and the project is ready for viewing.

The apartments are located at the beachfront side of Movenpick Hotel, a five-star chain that took over from the Crowne Plaza Hotel last year.

The property offers luxury apartments covering 125 square metres of living space, all built with international-standard design and furnishings.

While not outlandish, the proportions of the living room, a spacious balcony and comfortable bedrooms should meet the requirements of most buyers.

Rates for a two-bedroom unit have increased from last year and now start from Bt13.5 million.

In all, there are five completed buildings, each rising three floors. Each block contains six units on a three-rai community. The project is well guarded along one of Phuket's more upscale tourist spots, which has many trendy restaurants and pubs.

The development is situated on Patak Road, facing the sea. Because the area has underground cabling, residents have unobstructed views of the extensive ocean and beachfront.

There are now only 17 units available. The recent surge in property sales in Phuket has all but made the tsunami tragedy two years ago seem rather distant.

The rebuilt coastline gives the island a more upbeat and refreshing feel, which may explain why prices have shot up so quickly.

A dramatic rise in visitors has been fuelled by more direct flights coming from Australia, Singapore and Hong Kong.

The value of prime sites such as Movenpick Residences has risen markedly in the past few months, as most new projects are still in the early stages of construction.

Demanding buyers who are prepared to pay more for quality homes should take a look at Movenpick.

Not only is the branded project backed by one of Switzerland's proudest names in hospitality, but buyers receive a clear leasehold agreement that entitles them ownership rights for 30 years, renewable for another 30.

Movenpick carries a premium because it holds very little risk, says Bill Barnett, managing director of C9 Hotelworks, the project's sales and marketing representative.

"The response to Movenpick has been extremely healthy. We find that today's buyers prefer to buy quality properties, as they possess better value. The bottom line is that buyers can hope to obtain rental returns for these homes when they are not staying there."

This aspect outpaces other properties that are not branded," Barnett said. "One reason that homes at Laguna Resorts & Hotels in Bang Tao Bay do so well is the same: it has a reputation, it guarantees five-star facilities, good security, professional service - and the value just keeps moving up."

Itthi C Tan

The Nation
Friday January 12, 2007