In a period of global incertitudes, it is natural that some investors are reluctant to realise their projects immediately, or prefer to wait for a more stable economic environment. Nevertheless, there are secure solutions in Thailand, and in particular in Phuket property investments, on recently completed projects. Unlike financial or stock market products, a physical and tangible property is often considered as a “safe haven” in times of crisis.
Focus on completed developments
During the year 2020, restrictions have led to hotels in operation closing or reducing their activities. But this was not always the case for construction sites, particularly in Thailand where the crisis was not as severe as in Europe at that time. This has allowed some property developers to deliver projects that were then in the completion phase. They are now only waiting for the recovery of tourism to welcome their first guests.
The Phuket-Central property development was actually completed in 2020 and is scheduled to open in 2022. It is located in Kathu, in the centre of the island, next to an international school and a renowned golf club. The few remaining units for sale thus present no risk of non-completion while being completely new.
Under normal circumstances, these units would increase in price once completed, but it is possible during this particular period to purchase them at the same “off-plan” price, starting at USD 80,000 (THB 2,650,000).
INVESTING WITH DYNAMIC DEVELOPERS DURING THE PHUKET SANDBOX
The “Phuket Sandbox” is a measure that reauthorizes the arrival of foreign tourists without quarantine on Phuket Island. Launched on July 1, 2021, it is still in effect now in August 2021 despite the new wave of COVID in Thailand. The Sandbox allows the most successful hoteliers, having obtained the “SHA+” certification, to resume their operations with precise sanitary regulations.
It is possible through the Phuket Sandbox to identify the best players in the market, who have been able to adapt and comply with the rules to re-open as soon as possible. As an investor, it is good to look at developers with hotels in operation that cater to Sandbox tourists, as this is a testament to dynamism and quality.
The developer of the Phuket Central programme has a hotel currently in operation in Nai Harn, but alongside this business, it is involved in construction, consulting, technology… and plans to go to the Thailand Stock Exchange by 2025.
For more information on this completed project for sale, please feel free to contact us.