By Nikki De Guzman:
Estate Master has launched Ka Villa, a low- to mid-range sea-view development on a 7.5 rai of land near Laem Kai in Rawai, Phuket, on 4 April.
Ka Villa comprises 36 two- to four-bedroom homes with pools at a price ranging from THB7.4 million to THB10.5 million. The project also features a clubhouse with gymnasium as well as 24-hour security with CCTV.
The development will be led by Cornerstone Management, with management fees initially ranging from THB3,900 per month to THB8,000 for “premier” service.
Sales and marketing consultant Andrew Campbell said the construction of two show houses will begin in June and is set to be completed in December, while the whole project is targeted for completion in three years.
When asked why the company ventured into the low-mid-range market, Campbell explained, “the last project [of this kind] I was involved in sold out in six months, and in the south end of the island there are no detached villas left under THB10 million.”
He noted that five houses will be added as soon as the company makes two sales.
Buyers will not own either of the land or home but will receive 30-year leases for both and have the option to re-register leases every 30 years or avail of contracts for two prepaid 30-year renewals.
Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg
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