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Layan Gardens Phuket Apartments F.A.Q.
Q. As a non-Thai national can I own the land upon which the apartment is built?
A. There are ways for this to be achieved however because we are offering 90 years leases (3 x 30 years) and giving the owners the control of the land owning company upon completion it isn’t deemed necessary.
Q. If I wish to buy my apartment on a freehold basis as a Thai national or through the formation of a Thai company will I be allowed to do so?
A. No! In order to protect the aesthetics of the development and to ensure conformity in designs etc. we have decided that each apartment will be sold on a 90-years lease (3 x 30 years, back to back). Additionally we will offer all the shares in the company which owns the land and all the common facilities to each owner as a part of the purchase package. Thus you will be leasing from a company that is owned in its entirety by yourself and fellow owners only. This concept allows for the most comfort and investment security for foreign ownership under present Thai Law.
Q. Who will manage the Phuket property development once it is completed?
A. The developers will set up all the maintenance contracts i.e. gardening, pool cleaning, security, engineering etc. and manage them for the first six months. Once everything is running smoothly the running of the development will be handed over the Owners. The owners will form a committee and the committee will manage the development and the facilities through the full time Estate Manager and his/her team.
Q. How do you expect property prices to perform in Phuket in the future?
A. Obviously one can never absolutely predict any sort of property value increase. However it is a fact that property values in the Laguna/Layan areas have increased by approximately 100% in the last five years! This illustrates the popularity and value for money in Phuket when compared against property values and rises in Bangkok and throughout most of Asia over same period!
Q. What extra on-costs are there associated with my purchase other than for any optional extras, one-off sinking fund or furniture package if required?
A. Only the cost of Lease Registration with the land department which includes stamp duty, taxes and registration fees. These are split 50/50 with the Developer and based on current charges (September 2004) should be between 125,000 and 200,000 Baht dependent upon the size of the apartment you purchase.
Q. Is there a financing solution available for potential purchasers to take advantage of?
A. As a consequence of the pre-2000 financial crisis in Asia, no local (Thai) banks or finance houses are either willing or legally able to offer mortgage facilities for non-Thai nationals. However your local offshore bank may well be able to offer you mortgage facilities against this property or another that you may own in your home country if you are expatriate in Asia. Layan Gardens also offers a finance package.
Q. If, at some point in the future I should desire to sell my property how easy would it be to do so?
A. There are several excellent local and International Estate Agencies established in the Laguna area and most of the best are situated in the nearby Plaza Del Mar center. The paperwork is simple and your appointed agent will deal with everything for you. Additionally we, the developer, also offer a re-sales service to our buyers. All our recent re-sales in the Laguna/Layan area have been relatively quick and all have achieved superb returns on the original purchase price.
Q. What sort of return can I expect if I choose to let out my apartment when I am not in residence?
A. The rental return for each week’s rental should be approximately as follows: –
Longer-term rentals will return a little less. Rentals will be generated through our Layan Gardens website, enquiries to our office, from travel operators and by each owner themselves. Once all our apartments are sold our web site will be used exclusively for property rentals and any re-sales on behalf of the owners. Additionally rentals will also be sought on behalf of the owners through local contacts, information web sites and property agents where all availability will be listed. Whilst the Layan Gardens Management Office will not be marketing the rental of the properties in any other way, our staff will be pleased to facilitate and book advertisements and classified advertisements. They will also recommend inexpensive and effective publications should you or a group of owners wish to share the expense of advertising for prospective customers. Additionally, we are very happy for you to market your own property and to keep the proceeds of your marketing efforts, which is quite unique amongst the many property developments on the island. In this case, a flat fee will be charged on a daily/weekly basis by your management office to cover the cost of airport transfers, laundry, toiletries and household cleaning.
| 3 Bedroom | Penthouse | |
|---|---|---|
| Low Season (September 1st to November 30th) | $ 1,150 | $ 2,300 |
| Mid Season (April 1st to August 31st) | $ 1,500 | $ 3,000 |
| Peak Season (December 1st to March 31st) | $ 2,000 | $ 4,000 |
| All rates displayed are in US dollars. |
