“X2 Pattaya Oceanphere” The only luxury pool villa for investment in Pattaya
Habitat Group Company Limited continues its expansion in the Pattaya market. Starting with the launch of “X2 Pattaya Oceanphere”, a luxury pool villa project that comes with 5-star services, located on Soi Na Jomtien 56, valued at 800 million baht. The project promises high returns of 7 percent rental income per year for 5 years. It is expected to do well despite the slower economy.
Chanin Vanijwongse, CEO of Habitat Group Company Limited, a real estate developer which offers holiday experience and worthy investment opportunities, unveiled the company’s business plan for 2017. The company has a plan to expand its investment in popular destinations, such as Pattaya. According to market research, Pattaya is still growing steadily. In the first 10 months of 2016, occupancy rate stood at an average of 75 percent per month, which is a satisfactory number. Therefore, the company is confident that there is still room for growth in real estate for investment in Pattaya, especially for hospitality and industry businesses.
The first project to launch in 2017 is ‘X2 Pattaya Oceanphere’, a modern luxury pool villa resort with 59 pool villa units. The 800 million baht project is located on Na Jomtien 56 with only 500 meters from the beach. The project is distinctively designed as a 5-star pool villa and comes with a unique investment program which offers 7 percent guaranteed return per year for 5 years and 60 percent profit sharing after the first 5 years. Another unique selling factor of the project is the 5-star hospitality management provided by X2 Resorts which is internationally recognized as a luxury boutique hotel brand with ‘high design’. X2 Resorts will offer a variety of professional services from rental management to facility maintenance to ensure the consistently good quality of rooms, common areas, and other hotel services. The buyer will not only benefit from these advantages, but also a complimentary 14-day free stay per year at the property as well as a privilege to swap the free stay holiday time with over 18 other X2 residences across Thailand and overseas.
Every pool villa is well-designed to face the oceanside direction with different land levels to maximize the chance of enjoying the sea breeze. The project’s interlocking master plan creates privacy from the terraced layout to every single unit in the project. The interior seamlessly connects to outdoor swimming pool and private garden allowing guests to easily arrange the space for multi purposes and various activities. The full height sliding glass doors and windows beckon guests to enjoy the idyllic beautiful ocean vista.
X2 Pattaya Oceanphere comprises two unit types – one bedroom unit at 138.5–193.5 sq. m. and two bedroom unit at 201.5-267 sq. m. Each type is fully furnished and has features such as spiral staircase in two bedroom units and electric appliances. Every unit has a private swimming pool and garden. Price starts from 9.79 – 15 million baht or 70,000 baht per sq. m. at average. Currently, 40 percent of the units have been reserved, 100 percent of which is for investment. Sale is expected to close by end of 2018.
In the past year, although the economy was not well, one of its two real estate projects which launched in 2015, X2 Vibe Pattaya SeaPhere on Soi Na Jomtien 32, were sold out. About 80 percent of the buyers were Thais who wanted to invest in real estate, while the other 20 percent were international investors such as those from Singapore, Hong Kong and China.
Another project, Best Western Premier BayPhere Pattaya, is a low-rise beachfront condominium, located on Soi Na Jomtien 18. The 700 million baht project began presale in September 2016, and 60 percent of the units were reserved within four months, which is a big success. Although the real estate market in general was quite slow, especially in the fourth quarter of the year, 100 percent of the buyers were Thais from Bangkok. This shows that there is still purchasing power, and investors are still looking for properties to invest in. This year, the company expects to close sales of the remaining units (40 percent) at Best Western Premier BayPhere Pattaya. The sales target is around 300 million baht.
For revenue recognition, there will be one project ready for ownership transfer in the second or third quarter of the year, which is the 300 million baht X2 Vibe Pattaya SeaPhere project. A part of X2 Pattaya Oceanphere pool villa project will also be ready for transfer, amounting to 200 million baht. In total, the revenue recognition for 2017 as for now will be approximately 500 million baht.