Sheraton Branded Residences Launched In Phuket
A new offering of hotel branded residences with Starwood’s Sheraton brand has come into the Phuket real estate market.
With 116 one and two bedroom units, sized between 53 to 124 square meters, the pricing point starts at THB8.9 million.
Guaranteed yields are reportedly on offer at 5-7%.
Part of the Sheraton Grand Bay Resort, the project is in Ao Po, on the islands east coast.
The developer is Thailand’s Apex Group, with CBRE leading sales.
While the general state of the island’s property market remains challenging, prime branded units such as MontAzure Twinpalms Residences is nearing the 50% sales level.
For the moment, ocean views or oceanfront real estate and small sized investment grade seems to be holding most of the market traction.