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Buying Apartments in Phuket

May 31, 2019 / by Kirill Vyalykh

Buying Apartments in Phuket

Invest in Thailand growing housing market with Phuket9 Real Estate Developer. Don’t miss the best offer from the developer.

строительство на Пхукете

Apartments in VIP KATA Condominium Project

The second phase of the largest condominium construction in Kata

Currently Phuket9 company is implementing VIP KATA Condominium project. 2 of 4 buildings were completed in July 2018 and already bring income to the owners. 2 more buildings are being built nearby. There will be 209 units, 2 swimming pools, 2 rooftop bars, 4 restaurants, 2 fitness clubs, a spa centre, a kids park and a small garden for the residents on the roof.

 

The main concept of this project is a family hotel complex near the sea with kids entertainment centre and a common area for the best vacation in Thailand.

 

Location

The best location in Kata

VIP KATA Condominium is located only 500 meters away from Kata beach and surrounded by developed area facilities. Near the complex you can find several night markets and 24-hour shops, more than 20 restaurants with Thai, Italian, Russian, Japanese, Indian cuisine, nightlife, music bars, dozens of massage salons and a mini-golf course.

Rental Income Program 

56% income for 8 years

The developer offers Rental Guarantee Program for all types of units. Rental program and apartment management in VIP KATA Condominium operates for 8 years and brings 7% income per annum to a customer. Value-added tax is deducted from the rental income. At the end of a rental program agreement further cooperation or agreement extension is discussed on a case-by-case basis.

If a customer purchases an apartment in new buildings of VIP KATA Condominium, he/she has an opportunity to receive income starting the next day after the full advanced payment is done, even before construction is completed. In other words, if a customer decides to make a full advanced payment, his/her investment will bring income instantly after the payment is transferred to a company account. 

Condominium Buyback Agreement

Buyback after 8 years

Also the developer offers a Buyback option. That is how it works. A unit may be bought out by the developer at the end of a rental program (after 8 years). A customer has an opportunity to get 56% (7% per annum) rental return and plan investment exit with 100% unit price return. The condominium unit buyback agreement is signed together with the main agreement. This agreement is optional, but if it was signed it implies obligatory unit sale to the developer.

The Main Advantages of the Project

The main advantages of Phuket9 new project

  •      Location – 500 meters away from the beach, developed area facilities
  •      Unique conception – more than 380 apartments, kids park, rooftop gardens
  •      Completed buildings and 2 more buildings under construction
  •      Rental program with 56% ROI – instant income already during construction works
  •      Unit buyback option for fixed investment exit
  •      Furniture and decoration packages are included in the price
  •      Bonuses for customers like discounted accommodation in the company hotels

investment return property in phuket

Purchase Process

Distant purchase and documentation

You can purchase an apartment in the developer’s office or distantly. After choosing an apartment a customer makes the first payment 100,000 THB (~3000 USD) to Phuket9 company bank account and gets a receipt of apartment reservation. Hereafter the developer prepares all documentation.

The signing of an Agreement

Agreement approval and payments

Preparation of purchase/sale agreement takes from a few days to 2 weeks, depending on how many amendments a customer will make. After all preparations are done the developer sends 2 signed copies to a customer by express mail. A customer signs 2 copies and sends 1 of them to Phuket9 office address.

After the agreement is signed a customer makes a payment in accordance with a payment schedule specified by an agreement. After the payment is received the developer sends a receipt and agreement comes into force.

Construction Completion

Rental Income

After the construction completion and in the case of 100% payment the developer starts registration of buyer property rights. First of all, an apartment is received from the developer’s company. It is an inspection of interior decorations and check if everything is done according to an agreement. Apartment inspection can be carried out by a buyer or by his agent. Then all the documents are submitted to the Land Department for registration of the buyer property rights. This process can take from 6 months to 1 year.

Depending on the terms and conditions of a rental program the developer transfers % to customer’s Thai bank account twice a year.

Best Offer From Developer

Direct offer and bonuses

To get the most attractive offer for VIP KATA project you can contact Phuket9 sales office directly. Also in sales office you can get more information about other projects of the developer.

Phuket9 offers free accommodation in villas for 3 nights as well as free transfer around Phuket island for the time of the transaction. Apartment owners can live in any project of the company with 20% discount.

 

Contacts

Contact us to get more information