Condo in Khao Yai for holiday homebuyers
CHATEAU de Khaoyai, a property developer in the Khao Yai area of Nakhon Ratchasima province, has set aside Bt1 billion to develop a new condominium - Chateau de Khaoyai the Residence - with a sales value of Bt1.2 billion.
Construction is scheduled to commence at the end of the year, with first-phase completion expected in March, 2015 and the entire project due to be completed the following year.
Yuthana Sivaraks, director of the company, said the project comprised 265 units and the sales focus would be on home-buyers looking to purchase a vacation property.
With so many new real-estate development projects in Khao Yai, Chateau de Khaoyai the Residence has been designed to stand out with distinctive features inspired by French chateaus, he said.
Moreover, it is the only project in Khao Yai that boasts a panoramic view of the surrounding countryside. As a result, the company is confident that it will be well-received by the market, he added.
Niwat Lamunphan, the company’s consultant and investment partner, said there were numerous supporting factors that would boost Khao Yai’s property industry, such as the logistics system in Nakhon Ratchasima province, which will turn the main city into the hub for the planned dual-track railway, high-speed train and motorway, as well as new city planning.
These changes will bring about huge demand for places to live in as well as for holiday homes, he said.
Land prices in Khao Yai over the past few years have increased from about Bt300,000-Bt400,000 per rai (0.16 hectare) to Bt7 million-Bt12 million per rai, which represents staggering 2,600-per-cent growth, he said.
Compared to other holiday locations such as Phuket, Hua Hin, Cha-am, Pattaya or Chiang Mai, Khao Yai’s land prices are among the most expensive in Thailand – and almost as high as the Sukhumvit area in Bangkok.It is also the best location for vacation homes for Bangkokians, as it is only a two-hour drive from the capital, he added.
