This new 13 apartment development is situated on a private beach and is under construction now.  Hands on project management is provided by the German developer who has over 25 years  construction experience, ten of  those in Thailand.  This ensures buyers receive not only value for money but a guarantee of European build quality.

Developer finance also means that you can take possession of a one bedroom apartment for an initial payment of well under 1 million baht.

This is a small exclusive complex has three and a half floors and only 13 residential units.  It is being constructed just 35 meters away from a private beach on the peaceful east coast of Koh Chang, which is proving to be a popular location for buyers in search of a holiday home on the island.

The apartments are all sold fully fitted and finished and all feature large  terrace or balcony areas for outdoor living. They are built on three and a half floors, with the top floor reserved for two Penthouse Units. Apartments range in size from a 50sqm, one bedroom unit to a 345sqm three bedroom family unit.

On-site facilities will include landscaped gardens, parking, laundry area, storage facilities, a restaurant and communal swimming pool.

The selling price includes interior design with buyers having the freedom to customise their apartments to suit their specific tastes.  As there are only 13 units, the developer will work with buyers indidually tofit out their unit in the style and colours of their choosing.

Land, Floorplans & Site Photos:

Apartment Sizes & Prices:

Management Fees:

Monthly management fees covering Property Management of the public areas eg – Gardening, Maintenance, Communal Electricity, Garbage Collection are approximately 22 Baht/sqm/month for each apartment.

Financing:

This is the only development on Koh Chang with a variety of financing packages on offer for all apartments.  The developer realises that whilst many people still have the same jobs and earn the same salaries as they did prior to the economic crisis, banks are very reluctant to lend money  – especially on property purchases overseas. 

The developer provides financing for purchases through their own finance company at interest rates tied to those in Europe, currently approx 5.45%.

The developer is happy to discuss your individual requirements when it comes to financing a purchase.  But a couple of scenarios of how developer financing can work are shown below:

Purchase with Financing

You’d like to buy an apartment but can only raise 50% of the purchase price, and your bank wont loan you the remainder.

In this case you’d pay 50% of the purchase price initially with the remaining 50% financed by the developer and due for repayment in 10 years time.  During this intervening period you only pay interest on the loan from the developer.  (At current rates interest is just under 5.5%/year. )  At the end of 10 years you must pay the remaining 50% – or refinance the loan with the developer again, if your financial situation doesn’t allow for repayment of the loan.

E.g. You decide to buy Apartment 1, a 74sqm, 1 bedroom unit.  The selling price is 3,315,000 Baht.  This would mean an initial payment of 50% -  1,657,500 Baht -  and monthly ‘interest only’ payments of just under 7,500 Baht/month. You  then have a decade in which to raise the funds to repay the remaining 50% of the purchase price to the developer.  Or, as property prices rise, you could resell your apartment, repay the outstanding amount to the developer and keep the remainder as profit.

Lease with the Option to Buy

Again, using Apartment 1 as an example.  The ‘Lease with the Option to Buy’ plan allows buyers to pay 30% of the sales price plus a monthly leasing fee in order to lease the apartment for up to 90 years and at, any time, purchase it for the original price.

The monthly lease payments and the purchase price are fixed at the start of the contract.   The monthly payments comprise the Service Fee and a Purchase Price Guarantee fee.  At any time during the 90 year lease you can then buy the apartment by repaying the remaining 80% of the purchase price, less the total amount paid in Purchase Price Guarantee fees, to the developer.  This can be in 5 years, in 10 years, in 30 years etc  . . . it is up to you and when you pay depends entirely on your financial situation.

E.g. You decide to buy Apartment 1, a 74sm 1 bedroom unit with a slaes price of 3,315,000 Baht.  Your initial down payment is 30% -  994,500 Baht.  The monthly payments are the Service Fee of 5,801.25 Baht + the Purchase Price Guarantee of  2,320.50 Baht.  A total of 8,121.75 per month.

You use your apartment, maybe you even rent it out to earn income from it, and at some point, say 10 years in the future, in 2020,  the economic situation has improved and you are now in  a position to buy your beachfront apartment.

You would need to repay a total of 70% of the purchase price, i.e. 2,320,500 Baht.  However you have already paid 120 monthly payments of the Purchase Price Guarantee.  A total of 120 x 2,320.50 Baht = 278,460 Baht.

Therefore you repay the developer (2,320,500 – 278,460 Baht) = 2,042,040 Baht and the apartment is yours for the remainder of the 90 year lease period with no more monthly payments to make.

For more details including floor plans and financing for specific unit , please contact me