Despite the fact that the residential property market in Phuket is almost 100 percent dominated by overseas buyers, one of the best-selling projects at the moment is drawing strong interest from Thai buyers,
Since its soft launch in late March this year to CBRE clients, Disno Residence Patong (pictured) has seen around 30 percent of its Thai quota taken up, and 85 percent of all buyers so far are Thai.
One of the factors driving its success is the efficient and attractive layout, according to CBRE. All units have been designed to maximise usable space, following the vision of the project’s director, Nidhi Akkaravivat, and his father, who are passionate about delivering relevant, modern properties.
Unlike some other projects, Dinso Residence Patong is selling on its merit without offering any guaranteed returns. Instead, under Dinso Group’s boutique hotel management, there is a genuine high potential for long term consistent returns. Dinso Residence Patong is priced, starting from THB2.88 million.
Prakaipeth Meechoosarn, Director of CBRE Phuket office, said: “We are witnessing more Thais becoming interested in residential units as investments. The project’s concept matches their requirements.
“Buyers can also join the rental program managed by Dinso Group. It is my belief that Dinso Residence Patong offers the right product in the heart of Patong with a strong rental potential.”
Dinso Residence Patong is a 7-storey low-rise condominium, comprising fully furnished studio, one-bedroom and two-bedroom units. The unit sizes range from 31 to 88 sqm. Located on Nanai Road, Patong, it is close to the key amenities in the city including the Jungceylon department store, Makro, and it also has easy access to Patong beach.
According to CBRE Phuket presents itself as a great investment option. Despite the political unrest in Bangkok, the number of international passenger arrivals in Phuket grew by 32.4 percent year-on-year in 2013, according to its Phuket Property Report. The continuous growth in the island’s tourism industry is one of the reasons why Airport Of Thailand is expanding the Phuket International Airport.
Phuket’s tourism is the key driver of its property market.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate email: andrew@propertyguru.com.sg