Developer Offering Free Lifetime Condo Fees
Thailand's property market continues to grow higher in the development cycle and projects are increasingly looking for ways to differentiate their projects.
In Hua Hin, Baan Rajprasong's The Energy Condominium is looking to temp buyers off the sidelines with a promise of free management fees.
Under the scheme the project will establish a collective fund of THB630 million co-opted by a one-time contribution by unit owners of the initial years assessment and by the developers.
The fund will be invested into a managed entity by BBK Asset Management and proceeds used to fund owner's management fees.
While promotional material promotes no management fee for life, there is no discussion about what happens if the invested fund does not retain sustainable profitability?