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Koh Samui - Villa Information
Koh Samui
Koh Samui emerged as a resort destination during the 1980s and is now established as one of South-East Asia’s premier resort islands and one of Thailand’s leading resort real estate markets, offering a wide choice of properties for sale.|
Koh Samui’s continued growth in tourism and real estate is largely attributable to the expansion of its local airport, which has helped position the island as a boutique resort destination. In 2007, tourist arrivals exceeded 1 million and further growth is expected as passenger numbers rose by 11.4% year-on-year in the first quarter of 2008. This is encouraging for the future of the Koh Samui property market.
Traditionally, the Koh Samui real estate market has focused on villa developments. Today, CB Richard Ellis 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:
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.
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. (Condo ownership in Thailand)
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. (Condo Ownership in Thailand)
Branded Villas/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.
Koh Samui Villa Property Definitions
Properties in Koh Samui range from luxurious pool villas set in low density developments and beachfront locations to value-for-money condominiums and bungalows without direct sea views, but offering convenience, economy and access to the island’s facilities. The price of a property needs to be weighted according to its location, its views and the degree and quality of its finishing.
Luxury
Villas over USD 2 million, condominiums over USD 500,000.
Stunning properties with very high construction and equipment specifications.
Most villas in this price range are located in beachfront locations with sea views and with low density to offer privacy and seclusion.
Most developments offer professional property management with optional concierge services.
High-End
Villas priced between USD 1 and 2 million, condominiums priced between USD 250,000 and 500,000.
High quality materials used throughout; most villas have private pools.
Properties in sought after locations on hillsides or headlands; only some have direct beach access. All properties offer panoramic sea views.
Middle to Low-end Market
Villas priced between USD 750,000 and 1 million and condominiums under USD 250,000.
Good quality homes; individual properties or part of a gated development.
Properties in this category are located further inland but still offer panoramic sea views.
Most developments are high density with smaller land plots.
Koh Samui Villa Locations:
There is development in all coastal locations in Koh Samui. The island’s principal locations are:
North Coast of Koh Samui
Bang Por, Maenam and Bophut beaches offer stunning views towards Koh Phangan and are ideal for swimming. Many villa-type homes are found in this area of Koh Samui. Other developments include two to five-star resorts and local houses. Local retail shops are also found in Maenam, while Bophut features a variety of restaurants set in the charming Fisherman’s Village and serves as a focal point and social hub for Koh Samui’s resident expatriates.
Koh Samui's East Coast
Koh Samui’s most developed beach area, extending from Chaweng to Lamai. Chaweng is the island’s longest and also the most developed beach. This area features a number of residential developments, two to four-star resorts, dining and entertainment venues. Existing properties here are currently being upgraded and redeveloped.
Samui's West Coast
Koh Samui’s west coast is less extensively developed but offers stunning sunset views towards the Ang Thong National Marine Park and the ‘Five Islands’. A number of hillside villas and condominiums and luxury resorts are now being planned on the west and south-west coasts, including the Conrad Koh Samui. One of the first developments in this area was the Baan Taling Ngam hotel. Nathon, Koh Samui’s principal town, is located on the west coast and is where government offices, banks, retail shops and a public ferry port is located.
South Coast of Koh Samui
Other beaches in Koh Samui include Laem Set and Thong Krut to the south. The dramatic coastline here features coconut palms, adding to the area’s beauty. The Centara Hotel is located in Laem Set, where several other hotels and also Koh Samui’s first beach condominium have recently been completed.
Koh Samui - Island Overview:
Background and Geography Koh Samui is Thailand’s third largest island, measuring approximately 21km by 25km. The island is situated in the Gulf of Thailand. The local population is only 40,000, however the island attracts a lot of visitors.
The interior of the island is predominantly mountainous, covered at lower levels by coconut plantations while many of the hill tops remain natural forests. Samui has stunning views towards the ‘Five Islands’, Koh Phangan and the Ang Thong National Marine Park from many of its beaches and mountain areas. Samui’s most developed beach area is in Chaweng. Good beaches are also found around its coast line including Bophut, Maenam, Bang Por, Choeng Mon, Laem Set, Baan Taling Ngam and Lipa Noi.
Cost of Living in Samui
Samui is a place where people can have a luxurious tropical lifestyle at a fraction of the cost of that experienced in Hong Kong, Western Europe and the USA. Samui allows for a life of leisure: full time staff such as maids, cooks, drivers etc are very cheap to employ and entertainment such as dining at a good restaurant in Samui would cost between Baht 1,000 and 1,500, while a quality bottle of wine is priced from Baht 1,000.
Driving is the most convenient way to get around in Samui. A four-wheel drive car costs approximately Baht 800,000 or can be rented at a daily rate of Baht 2,500 to 2,700.
Infrastructure/ Lifestyle/ Leisure
Koh Samui strikes a balance between western luxury and an exotic resort lifestyle. The island offers a range of leisure activities and amenities including the 18-hole Santiburi golf course, the 9-hole Bophut Hills golf course, diving and water sports activities, as well as a wide choice of dining and entertainment options. The island also has a full range of international standard health care services at its private hospitals.
Weather There are three main seasons in Koh Samui.
Dry Season: December to February.
Hot Season: March to August.
Green Season: September to November.
The peak tourism season in Koh Samui is from April to August, when tourists can enjoy the best that Koh Samui offers, with daytime temperatures ranging from 30 to 35 degrees Celsius. Most holiday home owners in Koh Samui also visit the island during this period.
Koh Samui also experiences a high season during Christmas and New Year holidays in December. The weather is refreshing with light breezes and minimal rain during this period.
Flight access to and from Koh Samui
One of Koh Samui’s most attractive features is its recently upgraded international airport, which is owned and operated by Bangkok Airways. The airport is designed in a unique tropical style, adding a great sense of arrival to the island. More than 700,000 passengers arrived at Koh Samui Airport in 2007, with further growth expected this year.
Koh Samui Airport is well connected, offering a wide range of domestic and international routes and flight connections, including:
Bangkok Airways – to and from Bangkok/Phuket, Krabi, Chaing Mai, Hong Kong, Singapore all frequently
Thai Airways to and from Bangkok regularlyflights/day
Others Penang - Koh Samui 4 flights/week Others – to and from Penang and Kuala Lumpur several times per week
Investing in Koh Samui:
Purchasing a Koh Samui villa is a lifestyle investment. It opens the door to Thailand’s legendary hospitality and Koh Samui’s stunning environment.
Whilst the Koh Samui property market is not as mature as Phuket, it is an improving market which is attracting reputable developers. Traditionally, the Koh Samui market has focused on villa developments; today we are seeing the start of the condominium market with good quality projects being launched.
Koh Samui is one of Thailand’s recently developed islands. There are a number of prime beachfront sites around the island remaining, with good potential for capital appreciation.
CB Richard Ellis has seen a rise in demand for Samui properties and an emerging market for luxury villas and branded hotel developments. (Where the hotel operator provides management services for villa owners)
There are many advantages in owning a villa integrated within a branded hotel development typically in Koh Samui, villa owners occupy their properties for only part of the year. In a hotel branded villa project, owners will have the opportunity to lease back their villa to the hotel through a managed rental programme.
Branded villas are relatively new to Koh Samui with the Estates Samui completing in 2007 and the W and Conrad to open in 2010. If Koh Samui villas under branded hotels follow the example of villas in Phuket, strong demand and increasing in capital value can be expected.
Koh Samui Branded Hotel Developments:
Conrad Koh Samui Residences
A 32 villa resort on a dramatic headland in Pang Ka, the South West corner of Koh Samui. Each luxurious villa enjoys spectacular sunset views and the 'Five Islands' view as well as access to a secluded private beach.
Each of these Koh Samui villas range from 2 to 3 bedrooms with en-suite bathrooms, a private sun deck and pool and a lawn terrace. The Villas benefit from a property footprint of 387 – 828 sqm and each villa plot is between 480 and 1,040 sqm.
All villa owners will have access to the Conrad Koh Samui's resort facilities including gym, signature spa, and specialty restaurant. A Rental pool programme is available, with a 7% guaranteed yield for five years.
W Koh Samui Retreat and Residences This villa resort comprises 75 hotel villas and 17 ultra-exclusive private residential villas. The villa resort development is located on a 26 acre peninsula site with white sandy beaches on Koh Samui’s Northern shore, between Maenam beach and Bophut fisherman’s village.
The 17 ultra exclusive Koh Samui villas are available for sale to private owners. Each Villa residence, in a Tropical Zen style is a private sanctuary to indulge in island life and enjoys views out over the beach and ocean.
Each Villa is individually designed with a choice of 3 and 5 bedrooms with en-suite bathrooms, a large private pool and terraces. The villa units are designed to offer spacious indoor and outdoor living spaces with footprints of 745sqm - 1,126 sqm. Each villa sits in a private secluded plot with uninterrupted sea views across to Koh Phangan. Villa plot sizes range from 1,440 sqm to 2,740 sqm.
W Koh Samui Retreat and Residences is W Brand’s third retreat in the world and the first in South East Asia. Residence owners will enjoy a range of privileges and benefits including all villa and pool maintenance access to all hotel services and amenities.
The Estates Samui – Koh Samui
The Estates Samui is an exclusive and private collection of 14 villas cradled on a hillside overlooking one of a pristine stretch of beach on the island,stunning Laem Yai Bay adjacent the Four Seasons Koh Samui.
Financing
Generally, Thai banks do not lend to foreigners for land or property purchases. Some developers also offer funding assistance, but you need to be aware that the vast majority of purchases are on a 100% equity basis.
Payment Terms
Most residential developments are small, with an average of fewer than 20 villas per project or phase of the project. The majority of properties are sold off-plan or in a partly built state. Investors should study the terms of payment carefully to avoid inconsiderate risks. Likewise, they should ensure that ownership of the land of their future property has been officially transferred before honoring further payments and starting heavy construction work.
Tax
At present, there is no tax in Thailand on the occupation of property or ownership. There is a proposal to bring in a property tax on ownership at the rate 0.1 of 1% of the government assessed value of the property, which is historically below current market value.
On the rental or the sale of the property, depending on the status of the owner – an individual, resident or non-resident in Thailand; or a corporation – various taxes on the actual sale proceeds or on the assumed income based on assessable value, may be levied. This is a specialist area, on which you should seek legal advice.
The majority of properties in Koh Samui are sold off-plan or in a partly built state. Property investors should study the terms of payment carefully. Buyers will always be asked to pay a reservation fee.
This secures the property which will be taken off the open market. Then, some time (usually 30 days) is given to allow for legal work to be completed before the first payment is due on signing of the contract. Once the first payment is made, the following payments will be split according to construction milestones.
Here is an example:
Signing of agreement: 20%
Completion of villa footings or pilings: 20%
Completion of columns, floor slabs and roof frames: 20%
Completion of villa shell, including external doors and windows: 20%
Substantial completion of the villa: 20%
In Thailand, all foreigners wishing to buy real estate must transfer the funds to buy their property from abroad.
Sinking Fund
In a new villa or condominium project, each owner will pay an initial amount into a sinking fund on transfer of ownership of the property. This will be used for major renovations in the future and repairs, which are outside the operating budget, such as repainting the external walls of the apartment blocks or replacing the pool pump.
Common Area Management Costs
In a villa or condo development, specifically appointed property managers, such as CB Richard Ellis, will normally be responsible for managing all aspects of the common areas.
This service normally includes:
24-hour on-site security
Maintenance and irrigation of all common area landscaping
Cleaning of all the common areas i.e. stairways, paths, management office
Cleaning of the communal swimming pool, including chemicals
Management office, estate manager, technician and all associated ancillary costs
Insurance for the common areas which shall include the structure of each apartment block
Electricity and water supply in the common areas up to the point of connection to the individual property units
Refuse collection
Pest control in common areas
Accounting, including annual auditing
The propertymanagement company reports directly to the owners’ committee on a monthly basis, providing regular financial statements identifying all relevant expenses, and reporting on issues concerning the management of the common areas of the property. This system ensures that resort condo and villa developments are managed transparently and effectively, ensuring that the investment made by each owner is protected and enhanced.
Samui Villa Resale (SAS0052)
This very spacious private villa is located on top of a hill, above a secluded cove. This property enjoys 180-degree sea views, including fabulous ... More
Contact Us
For information or any advice, please contact Prakaipeth Meechoosarn Director - Resort Property
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Traditionally, the Koh Samui real estate market has focused on villa developments. Today, CB Richard Ellis 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.
Properties in Koh Samui range from luxurious pool villas set in low density developments and beachfront locations to value-for-money condominiums and bungalows without direct sea views, but offering convenience, economy and access to the island’s facilities. The price of a property needs to be weighted according to its location, its views and the degree and quality of its finishing.
Koh Samui is Thailand’s third largest island, measuring approximately 21km by 25km. The island is situated in the Gulf of Thailand. The local population is only 40,000, however the island attracts a lot of visitors.
There are three main seasons in Koh Samui.
Conrad Koh Samui Residences
W Koh Samui Retreat and Residences
The Estates Samui – Koh Samui
The majority of properties in Koh Samui are sold off-plan or in a partly built state. Property investors should study the terms of payment carefully. Buyers will always be asked to pay a reservation fee.
