RESORT HOMES REQUIRE FULL SERVICES & FACILITIES FOR LONG-TERM SUCCESS
The idea of owning a resort holiday home is an aspiration for many but once purchased, most owners think they will utilize their property more often than they actually do. Over the years of ownership, the appeal also diminishes and the once sought after d
There are several purchasing options for resort home buyers – from condominiums, gated housing communities to self-built homes. Buying in a gated development offers clear advantages in terms of security, facilities and amenities on offer.
A common issue for many resort homes is property management, repairs, maintenance and services. Some older generation resort condominiums and housing developments have depreciated after 10 years and are often left vacant, without proper maintenance or renovation. The fact that resort homes are not for permanent use, many owners are reluctant to pay exorbitant maintenance costs and management fees. The operations are also left to the committee where most AGMs are unattended by co-owners who take little active interest in management issues. Once the project sells out, the developer also often overlooks the importance of property management.
If one considers resort projects which have had long-term success with a consistent price appreciation, these are cases where not only the products have been well designed and are located in prime locations, but also those that developers pay attention in providing ongoing services and proper management of the units and common areas. These developers often consider what customers want in an ideal resort home.
The newer generation of projects launched more recently now recognize the importance of offering full services to owners and good property management to ensure long-term success. Services that are often valued by buyers include a weekly cleaning service, regular routine services for gardening, pool cleaning and pest control, an all-day dining restaurant which serves breakfast and the ability to call on repairs and maintenance services round the clock for emergency repairs. In a hotel-integrated residence or large-scale projects where developers have an economy of scale, these services can be easily provided. Should owners not want to leave the compound of their resort homes, they also have all the facilities, services and recreational activities needed at their doorstep. In a standalone condominium project, newer developments should seek to at least provide a concierge service to accommodate owners’ requests and a weekly cleaning service, regardless of whether the property is occupied or not.
Other successful projects going beyond providing facilities and services seek to create a bustling atmosphere within the project to set the right mood and feel. For example, Toscana Valley in Khao Yai offers a high quality product set amidst an impeccable atmosphere along with extensive facilities and amenities such as golf courses, restaurants and two hotels. The developer also provides full services to homeowners as well as organise regular events, live music and activities every weekend. This also explains why many hotel-branded resort residences have become popular amongst buyers, despite the price premium they command.
Mahasamutr Hua Hin is another project which plans to provide a fully integrated resort home with a country club membership concept. Apart from the crystal lagoon which is new to the market, the country club is envisaged to offer a full range of sports facilities and 4 restaurants for the use of owners, as well as non-home owners who pay an annual membership fee. This concept would be the first of its’ kind in Hua Hin. With a professional country club management team, the project will provide a full range of services to home owners.
For projects which get it right, there is still demand from those aspiring to enjoy the privileged lifestyle of owning a resort home which can be sustained in the long-term, rather than being just a short-term charm.
Aliwassa Pathnadabutr, Managing Director of CBRE Thailand
