RESORT BRANDED RESIDENTIAL Four Season's Chiang Mai Update
Phuket is seeing increasing competition in Thailand for branded resort residential with Residences at Four Seasons Resort Chiang Mai active in the market. This phase which is already completed has 5 villas, with 2 already sold. The 4 bedroom units sit on Â½ rai plots with 755 square meters of built up space and are sold on either a leasehold or freehold basis. Average prices are THB 150 million.
The Residences condominium which has 24 units only has two remaining priced at approximately THB 64 million. Average unit sizes are off 500 square meters. Looking at real estate sales of 22 condos and 2 villas certainly the combination of the Four Season's brand name and unique luxury offering in Chiang Mai have added traction. Both the architect Lek Bunnag and landscape by Bill Bensley certainly have contributed to the success given their tasteful Thai design sense.
Developer Minor International continued to be active in luxury property with the St. Regis Residences Bangkok about to hit the broader market.