Patong Bay Residence III – 1-Bedroom City View Condo in Patong Beach – 7% NET Rental Guarantee

71/1 Phrabarami Rd, Tambon Patong, Amphoe Kathu, Chang Wat Phuket 83150, Thailand
3,060,000฿

Details

A stunning executive residence, luxuriously styled and finished, located right in the heart of Phuket’s Entertainment and Tourism area of Patong. Amazingly located being only a 10 minute walk to the famous Patong Beach with its white sands and glistening tropical waters.

Patong Bay Residence 3 is a modern style condominium with 114 units, 1 bedroom 1 bathroom condominium with sophisticated, contemporary, executive suites finished to the highest of quality. A modern open plan layout fully furnished throughout with a separate bedroom and kitchen facilities.

The on-site facilities will include a roof-top Pool and Decked Lounge area, Fully equipped Fitness Centre a Wellness Centre and Restaurant. Closed to the popular Patong Beach, Patong Bay Residence is an idyllic holiday home on the tropical island of Phuket, Thailand.

As Phuket continues to flourish, there has never been a better time to purchase a holiday home on this popular island. Phuket truly offers a little bit of something for everyone. Not only are there great beaches, but there is abundant nightlife and dining choices as well as all of the conveniences and necessities of a Western country. Property developments such as Patong Bay Residence 3 will not stay on the market for long, so now is the time to act.

Selling prices range from THB 3.06 million to THB 5.1 million

Leasehold and Freehold options are available. 

Features:

  • Ownership : Freehold or Leasehold with 7% NET guarantee yield for 15 years
  • Property Type : Condominium
  • Completion date : 2023
  • Layout : 34 m2 with 1 bedroom
  • Style : Modern/Contemporary
  • Kitchen : Open plan kitchen
  • Living Room : Open plan living and dining area
  • Swimming Pool : Common on roof-top
  • Balcony : private
  • Distance to Beach: 850 meter
  • Location: Patong

Rental guarantee conditions:

7% NET Rental Guarantee for 15 years (subject to WHT) will be paid in advance
(No maintenance fee, no utilities, no common area fee, no sinking fund for 15 years)

Option 1: In case paid 50% of unit price, the Buyer will receive 3.5% rental return within 30 days
(1 week free staying in low season every year in the completed building)

Option 2: (only 3 units on promotion)
In case paid in full payment the Buyer will receive 7% NET Rental Guarantee within 30 days as from full payment. (4 weeks free staying in low/high season every year in the completed building)

Buy Back Option:

Between 10 and 15 years the buyer may apply for Buy-Back option and receive back his original investment.
After 15 years there is a possibility of renegotiating for a new rental guarantee period

Extra fees:

Registration tax will be shared 50%‐50% between Buyer and Seller.
Lawyer Fee: 10,000 THB (Accountant fee to obtain Tax ID number for WHT refund is not included)

Owner benefits:

Possibility for the owner to use the apartment for 4 weeks in low season or 2 weeks in high season and 2 weeks low season, free from the costs for electricity, water and monthly fee.

Payment Terms:

THB 210,000 Reservation Deposit + Legal fee
40% upon signing the Purchase Contract (within 30 days from Reservation Agreement being signed)
20% upon infrastructure completion
20% upon foundation completion
10% upon building structure completion
10% (minus reservation deposit) upon Handover

 

REAL Ref. 13343

Plans

Apartment Floor Plan

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