Phuket9 has started the main phase of construction work on the VIPKaron Sea View Condominium project. At this stage, the site is being prepared for piling and laying the foundation. In parallel, the construction team is completing work on the construction of a sales office and two show units, which will be located here, in the immediate vicinity of the construction site and will open for work within the next month.
Delayed construction. Causes and Effects.
The main construction work was delayed by almost 6 months, and the reason for this was not at all the pandemic (on which absolutely everything is now falling). The fact is that at the end of 2020, in the work of one of the developers in Phuket, serious violations were revealed in the field of obtaining permits and obtaining a certificate for environmental impact (EIA). On this basis, the Government formed a special commission, which began checking absolutely all companies in Phuket for violations in project documentation and submission of documents.
Phuket9 successfully passed the documentation check and additional approval of the Construction Permit, which made it possible to continue construction work in full. Recall that in 2020, the developer became the only organization to receive an environmental impact assessment (EIA) certificate in Phuket.
Investment in the future.
New condominium with sea views VIPKaron stands out to a large extent among the many projects in Phuket. Firstly, due to its location near the famous beach. Like Phuket9's previous project, Wekata Luxury Investment Complex, the new condominium is focused on short-term rental and hotel management.
When designing VIPKaron, an in-depth analysis of the market for rent requests and demand in this particular location was carried out. According to the research results, the new condominium has received a number of major improvements and features:
More spacious studios (from 37 sq.m.)
Improved apartment design and more expensive finishing materials
Large pool of two bedroom apartments for family accommodation
The main advantage of the VIPKaron complex is a sea view of extraordinary beauty. 90% of the apartments have a sea view, and the landscape features make it possible to provide a decent view from the apartment starting from the first floor.
Forecasts and expectations.
The current economic situation caused by the global pandemic has made certain adjustments not only in the short-term prospects of the real estate market, but also in the very perception of investments in the resort sector of Phuket. Exactly a year ago, skeptics predicted a global fall in prices and a complete collapse of the market. However, contrary to the logical pragmatism, most of Phuket's developers managed not only to survive the crisis, but also to continue the development of the company. There are several reasons why the real estate market in Phuket managed to survive:
Sustainable business model and low or no leverage
Stable prices for the land fund with an annual rise in price by 5-7%
Maintaining demand among foreign investors
Minimum volatility of local currency
Of course, the lost tourism season 2020-2021 had a strong impact on medium and small businesses in the tourism industries, but due to the seasonality of the main profit in the past, the losses were not as colossal as expected.
To date, the officially adopted strategy for restarting Phuket as a tourist sandbox from July 1, 2021 remains unchanged. The third wave of coronavirus, which rose about a month ago, is already declining, and Phuket continues to build a sandbox tactic not only for foreign tourists, but also for local visitors to and from the mainland.
Vaccination of local residents is progressing at a confident pace, and in less than a month almost 100 thousand people (out of 400 thousand of the population) have already received the second vaccination. For mass vaccination in Phuket, 8 large points were opened, which were deployed in gyms, hotels and shopping malls. The government did not ignore the regularly residing and officially employed foreigners, who will receive their vaccine absolutely free of charge in June.
Sputnik V in Thailand.
Despite WHO's non-recognition of the Russian vaccine Sputnik V, the Thai government, within the framework of bilateral negotiations, reached an agreement with the Russian side on the purchase of the drug for the needs of Thailand and received personal guarantees from Russian President Vladimir Putin. This fact is a direct confirmation of the fact that Russia will be the priority vector of the tourist segment, since unlike China (where quarantine of 21 days is mandatory), citizens of the Russian Federation are exempted from quarantine after returning from travel. Currently, work is underway to set up a vaccination passport verification system at immigration points in Thailand, and the Tourism Association (TAT) has launched a pilot version of an all-in-one portal, where online tourists can complete all the necessary documents to enter the Kingdom.
Ready investment solutions here and now.
The Vipkaron Sea View Condominium is worth considering as a smooth and comfortable entrance to Thailand's real estate investment. The estimated schedule for the completion of construction is indicated in May 2022, which gives at least a year of convenient installments, and, if necessary, another year as part of a special offer from the developer.There are three options for investors to participate in the management of their apartment:
- 7% guaranteed program for 5 years (Passive income with limited time of own residence).
- Rental Pool 60% -40% (Passive income without time limits for own residence.
- Self-managment or permanent residence.
Each of the options has its own characteristics, which you can discuss by contacting the Phuket9 sales department directly.
Owners who purchase apartments whose value exceeds 5 million baht, still become holders of a visa under the Thailand Elite program, which gives a whole range of various bonuses, which you can read more about here.