Ocean Property has announced that the real estate market in Phuket continues to grow in response to the expansion of tourism. The company is pleased to report sales of 'Ocean Town Mueang-Ratsada' exceeding 250 million baht, and is aggressively expanding into the horizontal market by launching new twin houses and single-family homes worth 600 million baht, priced between 4-6 million baht, targeting real demand and aiming to meet all aspects of residential needs.

          Mr. Napong Priphanphojanpisut, Managing Director of Ocean Property Co., Ltd., a comprehensive quality real estate developer, revealed that the overall real estate market in Phuket is still showing continuous growth. According to data from the Phuket Real Estate Business Association, it is projected that in 2019, the market value of real estate in Phuket will not be less than 20 billion baht, which aligns with the economic growth in the area driven by government investment plans to expand transportation networks, such as the Phase 3 expansion of Phuket International Airport, which can accommodate up to 25 million passengers per year, and the investment in the construction of the Phuket-Phang Nga light rail.

          Meanwhile, private sector investment in real estate development is increasingly seen in various forms and mega-projects to accommodate the growing number of both Thai and foreign tourists. Currently, Phuket International Airport welcomes around 18 million travelers per year, and the tourism factor significantly boosts the local economy, along with the demand for housing. Studies show that the demand for housing among Phuket residents remains high, particularly among civil servants, private employees, and business owners.

          Additionally, the Bank of Thailand (BOT) has relaxed the conditions of the property loan control measures (LTV) for the Government Housing Bank (GHB) regarding home loans for civil service benefits for another year until March 31, 2020. This is expected to stimulate the real estate market, allowing consumers greater access to loans, and will particularly benefit civil servants, who represent real demand in Phuket.

          Mr. Napong further stated, "Our company has invested in developing the first horizontal project in Phuket under the name 'Ocean Town Mueang-Ratsada', valued at 700 million baht, which includes townhomes and modern-style commercial buildings starting at 2.69 million baht. This project aims to meet all lifestyle needs, providing value for consumers in Phuket. The project was officially launched in May, and the customer response has exceeded expectations, achieving sales of 250 million baht, primarily due to its prime location and convenient transportation."

          "With several land banks still available, we plan to continue developing new horizontal projects worth 600 million baht in the form of twin houses priced at 4 million baht and single-family homes at 5-6 million baht to meet the high demand in this price range. This marks a significant push into the horizontal market in a tourist city, as we have previously focused on developing high-end condominium projects. We expect to launch this new project in 2020."

          The Ocean Town Mueang-Ratsada project is developed in the form of townhomes and modern-style commercial buildings, valued at 700 million baht, on over 20 rai of land, comprising a total of 187 units. The townhomes are two stories and come in two designs: the Tide model features 4 bedrooms and 3 bathrooms, with parking for 2 cars, a width of 5.7 meters, a starting land area of 20 square wah, and an internal usable area of 155 square meters, with 116 units available; the Shallow model features 3 bedrooms and 2 bathrooms, with parking for 1 car, a width of 5.7 meters, a starting land area of 20 square wah, and an internal usable area of 115 square meters, with 55 units available.

          The commercial buildings, Crest model, are 3 stories high, with a width of 5 meters, a starting land area of 23.80 square wah, and an internal usable area of 195 square meters, with 16 units available. The starting price for townhomes is 2.69 million baht, and for commercial buildings, it starts at 4.5 million baht. Construction has already begun, and the entire project is expected to be completed by the first quarter of 2022.

          Ocean Town Mueang-Ratsada is located on Srisutthath Road in Phuket Town, providing easy access to schools, universities, government agencies, hospitals, and shopping centers. The project is designed to meet all aspects of residential needs, with well-thought-out functional designs in a modern tropical style using warm, soothing colors and unique materials. It features innovations for energy-efficient and cool homes, including a smart touch tech roof structure that enhances brightness and reduces electricity costs with a skylight roof above the staircase, as well as energy-efficient LED panel lights that provide the same brightness while consuming less power, and green-tinted glass with powder coating that keeps the house cool while allowing 75% of light to pass through but only 49% of heat.

          Additionally, the common area is designed to simulate a coastal harbor atmosphere, providing a peaceful and shady environment with green spaces around the project. It includes a pavilion and a playground with equipment for families to enjoy activities together, along with a security system that meets standards, including CCTV, key card access to the project, smart home security systems, and 24-hour security personnel.

 

Thank you for the information from www.oceanproperty.co.th