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22/01/2009 - Phuket property developer offers 10% guaranteed return.  22/01/2009 - Phuket property developer offers 10% guaranteed return.

A developer of luxury property in Phuket is offering a guaranteed 10% return on any condominium or villa purchased before the end of January 2009.

Guaranteed rental returns are not new to the Phuket property market, with many developers offering excellent returns in the region of 6% to 8%, but the move by this developer to offer a 10% guaranteed return could set a new benchmark.

The development, located on picturesque Mai Khao beach, covers a 16 hectare site and aims to be the first development in Thailand to obtain the coveted LEEDS environmental award.

The resort will be managed by top international hotel group, Outrigger and will provide many excellent faciltiies for guests including a water park, National Geographic dive centre, restaurants, room service, swimming pools, fitness centres and full concierge services.

''We have had a real mixture of buyers but all with one thing in common, they were all on holiday in Phuket when they decided to invest." sales director Barry King commented. &quotAt first they were mostly skeptical about how we could provide a 10% return but once they visited the resort and [had] seen the project with its many unique facilities like our water park, Which is a proven business model, that when combined with the resort will offer a 30-50% better occupancy [rate] than surrounding hotels, it all made sense and they choose to invest."

The take up rate for the offer has been excellent with nine units already sold in January 2009. The most recent buyers have been from Croatia, Russia, Japan, Switzerland and France and it is clear to see that this development has a global appeal.

Apartments are available from 8,000,000 Baht and villas from 20,000,000 Baht and can be purchased directly through

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