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Koh Samui villa, apartment & condominium types
VILLAS, CONDOMINIUMS AND APARTMENTS FOR SALE
Traditionally, the Koh Samui market has focused on villa developments. Today, CBRE Thailand is seeing a shift towards higher quality properties with an emerging luxury villa market led by branded hotel developments and the start of a condo market.
The types of properties on offer in Koh Samui include:
1. Leasehold Villas
A Koh Samui Villa can be both stand-alone and located in a gated development. Villa projects are sold on a 90-year leasehold (30+30+30) basis, to conform with the Thai law whereby foreigners are not allowed to own freehold land.
In the villa segment, quality three to five-bedroom units sell from THB 50 million to over THB 200 million. Smaller villas are also available in various locations around Koh Samui from approximately THB 15 million. Most villas will have a private swimming pool although some projects may have a club house and a communal pool.
2. Freehold Condominiums
There are a limited number of projects on Koh Samui that offer freehold condominium units. However, the supply is expected to increase. In comparison, leasehold apartments currently tend to be more popular.
Condominium or strata title allows up to 49% of the total area of a condo development to be directly owned by foreigners. The title is registered at the government Land Department office. The common areas of the condo are managed by an appointed property manager reporting to a committee of owners.
New condominium prices are typically between THB 100,000-120,000 per metre, close to Phuket prices.
3. Leasehold Apartments
Leasehold apartments are units in a development sold on a series of 30-year leases, generally for 90 years (30+30+30). All apartments may be owned by foreigners. In condominiums, individual units are also sold on a leasehold basis to foreigners when the foreign condominium quota has been fully taken up.
The supply of completed leasehold apartments in Koh Samui is expected to increase over the next 2-3 years, with a number of new projects being planned and selling off-plan.
Leasehold apartments sell for similar prices to condominiums of an equivalent quality.
4. Branded Residences
Koh Samui is following a similar trend to Phuket where the supply of hotel property is increasing. Branded hotel developments which offer residential units for sale include the W Retreat & Residences Koh Samui, the Conrad Koh Samui Residences and The Estates (adjacent to the Four Seasons Resort Koh Samui). These villa properties command a premium as owners will benefit from the five-star management and the opportunity for rental income through the hotel’s managed rental scheme. At present, with a limited supply of luxury projects backed by professional real estate developers, these quality schemes present good investment opportunities.
