Thai institutional group MBK PLC is now offering financing to foreigners on freehold condominiums through its subsidiary MBK Guarantee Ltd.
This appears to be an extremely notable development in Thailand, where previously financing was nearly impossible to obtain for foreigners.
Loans from THB2 million to THB20 million (US$63,431-634,313) are being offered with monthly payments from 2-10 years for all foreigners – including non-residents. Interest is set at a minimum lending rate (MLR) of Thanachart plus 2% (roughly 8.375 per cent floating), and there is an option for a balloon payment at the end of term of 50 per cent.
The company says no income or work permit is required to obtain a loan, but the property must be in prime locations of Bangkok, Hua Hin, Cha Am, Pattaya, or Samui, according to Sakchai Suthipipat Vice President, Investment Department, MBK PLC and Head of Credit Department, MBK Guarantee Ltd.
MBK Guarantee is also offering mortgages in order to refinance properties. With the mortgage financing, credit is based on the value of the property not cash flow from a business. All types of properties will be accepted, including land banks, SDH, villas, and leasehold properties will be eligible. Interest rate will be set at the MLR from Thanachart Bank plus 5.625 per cent, or roughly 12 per cent floating. Tenor is up to three years and principal payment is not required during loan period.
Conditions apply to both of these financial services that have yet to be revealed.
Tuesday, 28 September 2010
Sunday, 29 August 2010
Thailand Information
Thursday, 26 August 2010
Luxury Villa Sells For US$24,000,000 in Thailand
What is widely regarded as Asia's most luxurious home has been sold, Asia Property Report understands.
Beyond Villa, located Natai Beach in Thailand's southern Phang Nga province, has been sold for around US$24 million, according to a number of industry watchers who declined to be named. The 6,500 sqm property, which was previously owned by California Fitness founder Eric Levine, has been purchased by an unidentified Russian buyer, according to several sources familiar with the transaction.
The ocean front property has been on the market for several years and was initially listed at around US$27.5 million.
Located on a 10 rai (4 acre) beach front estate on quiet Natai Beach in Phang Nga, the four bedroom villa has one of the best home gyms in the world, thanks to its former owner. It incorporates glass, steel and granite into its ultra modern and light filled design which was created by Hong Kong architect Branko Pahor.
Outside its doors Villa Beyond has a 2 hole golf course, 37 metre infinity swimming pool, barbecue terrace and covered outdoor massage and dining areas. Notable inside amenities include a 24 seat cinema, hidden kitchen, meditation room and a spa. The master bedroom is 500 sqm in size and boasts its own private swimming pool.
The home gym, with more than 80 pieces of equipment, is located in a separate pavilion on the property, as is a 750 sqm games room complete with bowling alley and karaoke room.
The property was being marketed extensively by local and international agents, and had been featured in the pages of global newspapers and magazines, including The New York Times.
Thailand Real Estate
Beyond Villa, located Natai Beach in Thailand's southern Phang Nga province, has been sold for around US$24 million, according to a number of industry watchers who declined to be named. The 6,500 sqm property, which was previously owned by California Fitness founder Eric Levine, has been purchased by an unidentified Russian buyer, according to several sources familiar with the transaction.
The ocean front property has been on the market for several years and was initially listed at around US$27.5 million.
Located on a 10 rai (4 acre) beach front estate on quiet Natai Beach in Phang Nga, the four bedroom villa has one of the best home gyms in the world, thanks to its former owner. It incorporates glass, steel and granite into its ultra modern and light filled design which was created by Hong Kong architect Branko Pahor.
Outside its doors Villa Beyond has a 2 hole golf course, 37 metre infinity swimming pool, barbecue terrace and covered outdoor massage and dining areas. Notable inside amenities include a 24 seat cinema, hidden kitchen, meditation room and a spa. The master bedroom is 500 sqm in size and boasts its own private swimming pool.
The home gym, with more than 80 pieces of equipment, is located in a separate pavilion on the property, as is a 750 sqm games room complete with bowling alley and karaoke room.
The property was being marketed extensively by local and international agents, and had been featured in the pages of global newspapers and magazines, including The New York Times.
Thailand Real Estate
Thursday, 8 July 2010
Koh Pom Island - Land For Sale
Thai-Real.com is happy to offer a very special piece of Thai real estate. A lovely parcel of land on a small island just off the south east of Koh Lanta Yai which is currently one of the busiest tourist islands in the area.
The land covers around 20% of the island and has beaches on both the east and west side.
The area around Koh Lanta is very popular with divers having some of the best dive spots in Thailandand easily accessible from Krabi
The land consists of a number of land titles that are Nor Sor 3 and Nor Sor 3 Gor.
The land covers around 20% of the island and has beaches on both the east and west side.
The area around Koh Lanta is very popular with divers having some of the best dive spots in Thailandand easily accessible from Krabi
The land consists of a number of land titles that are Nor Sor 3 and Nor Sor 3 Gor.
Wednesday, 7 July 2010
Aonamao Beach Land For Sale 9 Rai
9 rai of beach land with a very long water frontage in the centre of Aonamao beach.
Aonamao is just round the corner from the famous Railay Bay which is the most popular tourist spot in the area. Regular boats leave from Aonamao pier to Railay and dozens of local islands.
Just a few hundred metres up from this parcel of land is Amatapura which is almost sold out now and has recently fully opened as a villa resort.
With the unique shape of the land a quality development of 9-20 villas could be achieved.
There are currently no properties of this kind for this area available on the Krabi real estate market
Aonamao is just round the corner from the famous Railay Bay which is the most popular tourist spot in the area. Regular boats leave from Aonamao pier to Railay and dozens of local islands.
Just a few hundred metres up from this parcel of land is Amatapura which is almost sold out now and has recently fully opened as a villa resort.
With the unique shape of the land a quality development of 9-20 villas could be achieved.
There are currently no properties of this kind for this area available on the Krabi real estate market
Thursday, 1 July 2010
Koh Samui Holiday Island
Official government tourist video for the holiday destination of Koh Samui
Koh Samui Holiday Villas
Koh samui Hotels
Koh Samui Holiday Villas
Koh samui Hotels
Thursday, 10 June 2010
Krabi Real Estate agent Krabi-Real.com Opens
Interview for Property Report Magazine
1) When did you start your operations in Krabi? How long had you been looking at the area?
I have been visiting Krabi for a few years now but have just recently started to see things step up a gear, so decided to come and set up office here a couple of months ago. I really feel the Krabi real estate market is about too start!
2) Why do you think now is the right time to open?
I have been working in the Koh Samui market over the past 6 years and have seen how much growth people can achieve on their investment in a new market and Krabi is the only remaining destination in Thailand that has not really experienced much development yet.
After speaking with a number of resort developers over the past year a lot of their attention is now being focused on the Krabi & Phang Nga area. Most of the major brands are already established in the other main tourist spots of Thailand so Krabi was the next obvious move. A few resort brands have already been tempted here, like Centara, Sofitel, Anantara, The Sheraton, Amari and the recently opened 6 star Ritz Carlton Reserve. The next to open in 2011 will be a new property under the Mercure brand.
3) What kind of developments are you expecting to see in the area over the course of the next 12 months?
I am expecting a number of land plots being bought up by the resort developers which with their new style to incorporate villas for sale within the project will also bring some quality properties available to investors. Also a few interesting projects are planned to start construction over the next 12 months, including a new marina project south of Krabi town at Haad Yao (Long Beach) where there is already a handful of beachfront projects that have been selling steadily over the past few years.
One of the most successful projects in the area has been the At Sea condos at Klong Muang beach which has sold the majority of its condos before construction has been completed, so I expect to see more similar condo projects arriving in the area.
Krabi Land
1) When did you start your operations in Krabi? How long had you been looking at the area?
I have been visiting Krabi for a few years now but have just recently started to see things step up a gear, so decided to come and set up office here a couple of months ago. I really feel the Krabi real estate market is about too start!
2) Why do you think now is the right time to open?
I have been working in the Koh Samui market over the past 6 years and have seen how much growth people can achieve on their investment in a new market and Krabi is the only remaining destination in Thailand that has not really experienced much development yet.
After speaking with a number of resort developers over the past year a lot of their attention is now being focused on the Krabi & Phang Nga area. Most of the major brands are already established in the other main tourist spots of Thailand so Krabi was the next obvious move. A few resort brands have already been tempted here, like Centara, Sofitel, Anantara, The Sheraton, Amari and the recently opened 6 star Ritz Carlton Reserve. The next to open in 2011 will be a new property under the Mercure brand.
3) What kind of developments are you expecting to see in the area over the course of the next 12 months?
I am expecting a number of land plots being bought up by the resort developers which with their new style to incorporate villas for sale within the project will also bring some quality properties available to investors. Also a few interesting projects are planned to start construction over the next 12 months, including a new marina project south of Krabi town at Haad Yao (Long Beach) where there is already a handful of beachfront projects that have been selling steadily over the past few years.
One of the most successful projects in the area has been the At Sea condos at Klong Muang beach which has sold the majority of its condos before construction has been completed, so I expect to see more similar condo projects arriving in the area.
Krabi Land
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