Gorgeous 2 Buildings - Project in Phuket Beach in Thailand with ROI about 10% p.a

Overview

Object-no.: 2116
Object-type: Investment project – freehold
Land space: 3.384,4 m²
Living space: 918 m²
Year of building: 2008 Building 1 and 2016 Building 2
Apartments: 9 available (not included 1 apartment sold)
Built-in kitchen: yes
Bathroom with shower: yes
Balcony: yes
Status: very good
Sale price: 870.000,00 EUR

Project description

Great location in a popular yet quiet and peaceful area at Phuket Beach, the development has a land area of 3.384,4 m² and is only 300 meters from the beach. The development is accessed by concrete road with 3-phase power.

There are 2 buildings in the project.

The Building 1 was built in 2008 and has 4 luxury furnished apartments on 2 floors – ground floor and first floor, in which 1 apartment was sold and not included in the sale price. The owner of the sold apartment is willing to sell if the new investor/owner would like to purchase the entire project.

All apartments have 2 bedrooms, each with en-suite bathroom, a large living/dining area with fitted European kitchen and balcony/terrace overlooking the swimming pool. Each apartment has a total living area of 102 m2.

The Building 2 was built in 2016 and has been 70% completed. There are 6 apartments in total and distributed in 3 floors: ground floor, 1^st floor and 2sd floor.

The land is freehold with “chanote title” and owned by a company, which is only served for this project. There is no such of debt in the company. The company will be sold and included in the sale price.

It is all up to you as new owner/investor. You can run the development as a resort, or rent or sell the apartments individually. If you want to sell apartments individually, it shall be sold as leasehold with an initial term of 30 years, followed by two additional 30-year terms; according to current real estate laws in Thailand.

Annual rent income for each apartment estimates about 10,500 EUR. This indicates annually a return-on-investment (ROI) of about 10% and it takes about 10 year to get return on investment. The existing owner will assist the new owner/investor to find a local management company to deal with administration and renting out apartments, if wished.

Location

Phuket island is the largest island in southern of Thailand and consists of another 32 smaller islands off its coast. It lies off the west coast of Thailand in the Andaman Sea. Phuket Island is connected by the Sarasin Bridge to Phang Nga Province to the main land and the north of Thailand. The next nearest province is Krabi, to the east across Phang Nga Bay.

Phuket Province has an area of 576 km² (222 sq mi), somewhat less than that of Singapore, and is the second-smallest province of Thailand. The island is very famous worldwide for tourism with its own charms and beautiful beaches. An international airport is also located on the island. The comfortable for tourists to reach the island from long distance.