Phuket firms up as favoured destination for luxury-end real estate
Remote working, strong returns both in the short term and the long term, and a growing interest in resort-branded residential projects are all trends that emerged in the Phuket luxury real estate market during the pandemic, and while that was initially driven by domestic demand there is now the added element of overseas buyers looking for a second home.
Phuket therefore is still one of the region’s most competitive property investment markets, and given the island’s fast re-establishment as a travel hub, its international airport providing easy access to the rest of Asia, the Middle East, Europe and beyond, continue to grow strongly in the future.
Mr. Micah Tamthai, COO of Lifestyle and Real Estate at Minor International, is bullish on Phuket and its real estate sector, and says that the group’s Kiara Reserve typifies this luxury-end trend.
“Kiara Reserve’s location couldn’t be more exclusive, for it joins a boutique collection of luxury residences in Layan Bay, in Phuket’s highly sought-after ‘Millionaire’s Mile’, only 20 minutes from Phuket International Airport,” he says.
“Here, your neighbours are the uber-exclusive Layan Residences by Anantara and Avadina Hills by Anantara. Privacy is another point of difference, with only 42 villas and condominiums in the development, so that guests are guaranteed seclusion.”
With 100 rai (40 acres) of prime beachfront land, this exclusive enclave has a residents-only swimming pool and fitness centre, Thai and international restaurants, Anantara Spa, beachside dining and rooftop bar at Beach House, sport and leisure facilities at Layan Active Zone, and an on-site helipad and yacht tender jetty.
Currently in development are an eight-berth marina, a new culinary destination featuring Thai fine dining, a cooking school, a wellness clinic, and a first-of-its-kind rooftop observatory.
“Our customers typically look for world-class, personalised residential management that delivers a seamless home ownership experience,” says Micah. “We call it ‘arrive and enjoy, leave and forget’. Other non-negotiables include a private and exclusive location in close proximity to amenities, superior quality finish from construction and design to materials, and, for Thai nationals, properties with freehold title.”
Micah says that Minor International and its long-standing joint-venture partner Kajima Corporation are committed to further developing Layan Bay as a world-class destination, which will stand owners of Kiara Reserve in good stead to capitalise on future gains for the years to come.
“Another reason Minor International remains bullish on Phuket is the province’s commitment to significant infrastructure investment in anticipation of future growth, adding to the island’s reputation for international standard healthcare and education, a mature hospitality market, and a myriad of leisure activities.
“In Thailand, we are most bullish about Phuket, where we see the most potential for growth. We will continue investing in real estate and hospitality projects here in the immediate future.”
Kiara Reserve is available for private ownership from THB 34 million, with freehold, foreign freehold and leasehold titles available based on eligibility. Private appointments are still available and can be booked by contacting +66 (0) 85 484 8752 or [email protected]. For more information, please visit kiara-reserve.com.
