New Patong Condo project snapped up by Thai’s
A recent addition to the Patong beach real estate scene is the Dinso Residence Patong which has been eagerly snapped up by Thai investors.
Normally the residential resort market in Phuket is made up of mostly foreign buyers. The Dinso Residence Patong has managed to attract significant investment by Thai purchasers. During its preliminary launch earlier this year 30% of the quota had been taken up and 85% of the purchasers were Thai.
Dinso Group has almost a decade of experience managing boutique hotels in Bangkok and Chiang Mai. The group is focused on creating properties that meet the demands of a modern market. With this in mind the design of the units is pleasing to the eye and makes good functional use of the available space.
The Dinso Residence Patong is popular with Thai’s because the development has managed to combine several key features that appeal to the target market, rather than by trying to attract buyers with guaranteed rental returns. The property is able to sell itself based on its own merits. The development is fairly well priced starting from THB 2.88 million. Thanks to Dinso Group’s boutique hotel management experience there is good promise for consistent long term returns.
A leading property consulting firm commented on the development and said that more Thai’s are interested in this particular development because their requirements are more closely matched by the driving ideas behind the project. One of these requirements is a strong potential for rental returns. The project is very centrally located in Patong and there are also rental programmes available which indicate potential for good rental returns.
The building is a low rise condo that comes fully furnished with studio, one-bed and two-bed options. Unit sizes are in the region of 31 to 88 sqm. Nearby is Jungceylon, Patong’s largest shopping centre and the building is not far to Patong beach itself.
The furnishings are worth a special mention as they are supplied by a subsidiary of the Dinso Group whose furnishings have also been used in five star hotels across Thailand. Some of these include but are not limited to The Four Seasons in Samui and the Rayavadee Resort and Spa in Krabi.
The Patong beach real estate market continues to attract new investors and developers like the Dinso Group are becoming more creative in finding new ways to make their product a little more competitive and attractive to potential investors.