Kata Rocks Market Despite Woes
Speaking to Richard Pope developer of Kata Rocks there are indeed signs of life in the property market in the southern part of the island. With 34 units, currently 16 have been sold the project is slated to open by the end of 2010. Construction timelines are commencing in Q2 this year and Original Vision are both the designers and project managers of the estate.
With a premium oceanfront location the development will operate as a boutique resort and have a bistro along with other high end amenities. Sales prices currently are broaching on the 150,000 per square meter mark with 1, 2, 3 and four bedroom units along with upscale penthouses. The project gained some profile with the sale of a unit to the host of Discovery Channel's Man vs. Wild Edward 'The Bear' Grylls. I suggested to Richard a possible storyline of dropped "The Bear" by helicopter into Soi Bangla at midnight only armed with a pair of copy Quicksilver board shorts and reflective ray bans. The tuk tuk driver's mafia certainly poses every bit a challenge as any situation he has ever experienced and just let him try to fend for a parking spot.
While often not mentioned in the same reverent tone as Surin, Millionaires Mile or Bangtao, Kata has seen great success over the past few years with high end condos such as The Heights, Kata Gardens, Aspasia and Accenta all selling at premium pricing. Oceanfront real estate remains much sought after and even in this market there are transactions on fundamentally strong offerings.