Amari Estate lifts Hua Hin prices

Amari Estate Co plans to increase prices by 5-10% at its mixed-use Amari Residences in Hua Hin, a flagship property and business model that the company intends to use for other projects, in the first quarter of this year.

One-quarter of the 201 units at Amari Residences were sold in the first 45 days of presales.

Chief executive officer Yuthachai Charanachitta said the price increase would be in line with market conditions and demand.

The company says property demand is starting to increase this year because of the expected recovery of overall global economic conditions.

In just the first 45 days of presales, around 25% of the 210 units at Amari residences were sold. He said 90% of the buyers were local people wanting to buy the units for residences.

The company believes sales will increase to 40% in April and reach 70-80% in the final quarter.

The number of tourist arrivals has increased since early this year, particularly in resort destinations. Demand by foreign investors is also rising in line with good economic sentiment.

Apart from the Hua Hin project, the company plans to introduce other projects in resort destinations such as Phuket, Samui, and Koh Chang.

“We have land banks in prime areas in many resort destinations. This year, we will focus on expansion in provinces especially in resort destinations,” said Mr Yuthachai.

“However, the investment plan will depend on local political problems as well as the global economic situation.”

SOURCE: Bangkok Post

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