Cissa Group assessed that the property market in the second half of the year still continued growing. Although the consumer confidence decreased, the recovery of purchasing power was waiting for the moment to make a comeback, especially investment property in the major tourist cities.
Mr. Autthanop Pandkamnerd, the Chief Executive Officer of Cissa Group Company Limited, Thailand’s leading Investment Property developer, revealed the overview of the property market in the second half of the year that although the overall economy in the global market was still volatile due to the trade war and uncertainty of the economic situation leading to impacts on global economy and Thai economy, it was believed that the property market was still stable. The situation must be monitored closely. However, property developers continued developing projects, but they may increase caution in some product types and waited for the market segments to be clearer. Investment Property projects still responds to the investor market as it is the investment property, and it has the clear management to obtain the maximum returns. Therefore, it can continue growing in the second half of the year.
In the provincial property market in major tourist cities such as Phuket, the revenues of the tourism sector decrease due to the slight declining number of tourists and the total number of Chinese tourists traveling to Thailand based on the Tourism Authority of Thailand last year was 10-15 million. This year it may decrease to 11-12 million tourists. The number of Chinese tourists visiting Phuket has also decreased. However, the government has the policy to support qualitative tourism, such as health tourism, sports tourism, etc. These policies will encourage tourists from Europe, United States, and Russia, to visit Thailand. Once the tourism sector is bustling, it will have a real impact on the economy sector and real estate business in the tourism markets like Phuket.
Regarding the WYNDHAM Nai Harn Beach Phuket Project managed by Cissa Group, its sales is managed in the form of investment property, which still receives a lot of attention from investors. Currently, more than 85% of the project has been sold. The progress of construction is nearing completion and it is expected to open this year.
WYNDHAM Nai Harn Beach Phuket is a 4-storey building, divided into 2 types of rooms with the sizes of 40 square meters or more and 60 square meters, totaling 353 units. There are 12 buildings located on Nai Harn Beach, approximately 800 meters away from Nai Harn Beach. It is the freehold land. General investors can invest in 248 units only. The price starts at 6.5 million Baht. The remaining units are the proportion of major investors from Cissa Group. 6% guaranteed yields for the 1st-2nd year and the yields based on the hotel’s operating results for the 3rd – 15th year will be provided. The forecasted average is 10%. After deducting all operating costs, the profits will be allocated to investors with a full 100% share profit.
Regarding the investment property development, investors not only receive investment yields, they can also enjoy a free stay at Wyndham Nai Harn Beach Phuket Project for 30 days a year, or choose to stay at Hotels & Resorts of RCI Group in more than 120 countries around the world. It is worthwhile to offer investors these options to stay and get more than 30% discounts at hotels. Plus, there are membership cards with the access to many benefits.