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12/12/2009 - Multi-million Dollar Phuket villa sold  12/12/2009 - Multi-million Dollar Phuket villa sold

Rumours that the property market in Phuket is in decline and that prices may fall have been quashed this week by the sale of a  high-end villa at Andara Resort, Phuket, Thailand.  The villa, which sold for a multi-million Dollar price tag and almost double the original release price was bought by a wealthy Hong Kong investor.

Andara is the flagship development of Hong Kong businessman and entrepreneur Allan Zeman and one of Phuket's most prestigious villa projects, recently winning four accolades at the Thailand Property Awards.  The resort is located on the aptly named 'Millionaire's Mile' in Kamala on the West coast of Phuket and all properties have stunning ocean and sunset views.

The villas, now fully completed, were designed by Hong Kong architect Branko Pahor in a tropical Thai style with separate pavilions, large terraces and expansive outdoor areas.  The interiors are lavishly finished with Thai silks from Jim Thompson and handcrafted artefacts.  The development is not too big, which suits wealthy individuals, consisting of just twenty-six, four to six bedroom villas, the smallest with a constructed area of 1,375m2 and the largest 2,100m2.

The third and final phase of the development, Andara Resort Residences, offers thirty-seven attractively designed apartments and penthouses for those who do not require the space of a villa.  These will be completed by February 2010 and the resort will include facilities such as Silk Restaurant, a luxurious spa and wellness centre, a fitness centre and 40m x 10m resort pool.  Prices for Andara Resort Residences start from 27,200,000 Baht.

A small number of re-sale villas are available at Andara for interested investors, with prices from 180,000,000 Baht.

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