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Q. Can I,
as a non-Thai national own the land upon which the My Home
is built?
A. There are ways for this to be achieved however because
we are offering 90 year leases (3 x 30 years) and giving the
owners the control of the land owning company upon completion
of their properties it isn’t deemed necessary. |
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Q. If I wish
to buy my home on a freehold basis as a Thai national or through
the formation of a Thai company will I be allowed to do so?
A. No! In order to protect the aesthetics of the development
and to ensure conformity etc. we have decided that each home
will be sold on a 90 year lease (3 x 30 years back-to-back).
Additionally we will offer all the shares in the company which
owns the land and common facilities to each owner as part
of the purchase package. Thus you will be leasing from a company
that is owned in its entirety by the buyers only. This ensures
the most comfort and investment for foreign owners under present
Thai law. |
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Q. Who will
manage the development once it is completed?
A. The developers will set up all the maintenance contracts
i.e. gardening, security, engineering, swimming pool cleaning
etc. and manage them for the first six months. Once everything
is running smoothly then the day to day running of the development
will be handed over to the owners. The owners committee will
then manage the development on behalf of all owners through
the Estate Manager and his/her team. |
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Q. How do
you expect property prices to perform in Phuket in the future?
A. Obviously one can never absolutely predict any sort
of property value increase. However it is a fact that property
prices in Phuket and in the Laguna/Layan area in particular
have increased by between 80% and 100%
in the last 5-6 years! This illustrates the popularity and
value for money of Phuket when compared against property value
and rises in Bangkok and throughout most of Asia in the same
period. |
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Q. Can I
personalize my Luna Phuket home?
A. You will be able to pick all the granite and tile
style and colours for most rooms as well as the bedroom, closet
and kitchen door furniture. You will also be able to change
several material finishes from our scope of options available.
Additionally you can select all of your paintings, carpets
and furniture or go with one of our specially designed furniture
packages. |
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Q. What extra
0n-costs are there associated with my purchase other than
for any requested extras or additional work, the furniture
package or one-off sinking fund?
A. Only the cost of Lease registration with the land
office which includes stamp Duty, taxes and registration fees.
These are split 50/50 with the developer and based on current
costs they should be in total no more than 60,000-70,000 Baht
dependant on the home and plot that you choose. |
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Q. Is there
a financing solution available for potential purchasers to
take advantage of?
A. Following the pre-2000 financial crisis in Asia
no local Thai banks or finance houses are either willing or
legally able to offer mortgage facilities for non-Thai nationals.
However your local offshore bank may well be able to offer
you mortgage or loan facilities against this property or another
or indeed other assets that you own either in Thailand or
overseas. |
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Q. If, at
some point in the future I should desire to sell my property
how easy is it to do so?
A. There are several excellent local and International
real estate agents with established offices in the Laguna/Layan
area and the best of these are situated in the nearby Plaza
Del Mar business center. The process is simple
and your appointed agent will deal with everything for you.
Additionally we, the developer, offer a re-sale service to
our buyers. All our recent re-sales in the Laguna/Layan area
have been relatively quick and all have achieved excellent
returns on the original purchase price for our customers. |
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Q. What sort
of return can I expect to receive if I wish to let out my
home when not in residence?
A. The rental return per week should be approximately
as follows:
Low season (May to November) - US$ 800 - 1,000
High Season (December to April) – US$ 1,200-1,500
Peak Season (December 15th to January 15th) – US$1,800 – 2,200
Longer term rentals will return approximately
20% - 30% less per week dependent on the length of stay.
Rentals will be generated through our Luna
Phuket website, enquiries to our offices and by each owner
themselves.
Once all our villas are sold our web site
will be used exclusively for property rentals and any re-sales
on behalf of our owners. Additionally rentals will also be
sought on behalf of our owners through local contacts, Phuket
information web sites and property and villa management companies
and local real estate agents.
Whilst the Luna Phuket Management Office
will not be marketing rentals in any other way, our staff
will be pleased to facilitate and book advertisements. They
will also recommend inexpensive and effective publications
and web portals should an individual or group of owners wish
to advertise for prospective customers.
Additionally we are very happy for you to
market your own property and to keep all the proceeds from
your marketing efforts, which is quite unique amongst the
developments here in Phuket. In this case a flat fee will
be charged by your management to cover the cost of airport
transfers, laundry, toiletries and household cleaning. |
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