Million Dollar Homes On Samui

[Nepal4me]

I've just traveled down to Samui and looked around the island for property. I looked all over the island and one area that jumped out at me was in the Northeast corner of the island. The area is called Cheong Mon (spelling?). It's on the other side of the mountain/hill from the airport so no airplane noise. It is however only a 5 minute or so drive from the airport. Specifically there is a new subdivision being built by a developer called Samui Estates. The first phase of the development is called Narayan Heights, there were 18 lots being offered at a price of 8 million baht per rai. The plots averaged about 3/4 of a rai each. The total subdivision is about 25 rai, so the extra space is for park land and a 6 meter wide road through the subdivision. This place sold out in 2 months, phase 2 is now being built next door and the price per rai is now 10 million. The sales pitch is that, if you buy the land, build a villa yourself (rather have it built by a pro for you), after the villa is complete, the subdivision is completely finished, you will be left with a home worth 30 to 40 million baht. This is presuming you build a fabulous home anywhere from 350 to 650 Sq meters. You also have to build a home according to the developers design criteria, which is high end Bali/Thai style. The price to build a home like this is about 20,000 baht per sq meter so a 500 sq m home will cost 10 million to build. Toss in another 2 or 3 million to landscape the place and buy nice furniture, you're looking at close to 20 million baht. The trick is, can you really parley that into 30 to 40 million 2 years later when all the homes are built and the subdivision is finished. Since phase 1 (Naryan Heights) is sold out, phase 2 (Gentara is the name of phase 2 I think) is now for sale, phase 3 and 4 are in the early stages of getting mapped out and won't be even offered for sale for at least a year. You really have to see the plan for the subdivisions, these relatively few homes, maybe 40 in total for Gentara and Narayan Heights are going to be in a gated community that goes up the mountain side with a spectacular sea view, the homes will be spread out for privacy, i.e. less than one home per rai, the slope of the mountain guarantees perfect views from every house. I've looked around this NE corner of Samui and it's sort of the new super-hi-end area. 5 Star resorts are going in, Kapinski just bought a 50 Rai plot bordering on Gentara/phase 2 and will build a super exclusive 5 star resort. Another good thing about Samui is the 3 story height restriction, so you'll never see the high rises of Phuket. As of this year, there actually are US$million dollar homes on Samui and I've looked at about 6 of them, don't think there are currently many more than that. I can't see why if I buy a 3/4 rai plot in Gentara for 7.5 M, build a home, furnish and landscape 12M, why wouldn't I be able to sell it for 40 million as these other houses I've seen are getting. These other homes don't have a better view, better location, better layout, more exclusivity or really better anything as far as I can see. I really can't comment of the quality of the buildings but for 20,000 per sq m by an experienced builder has to be of equivalent or greater standards than these homes. Bangkok Air now has non-stops from HK and for a lot of people in HK, 40 million baht is not a lot of money for a beautiful home in an exclusive gated community to go to for Chinese New Year or whatever. I've been thinking about this and would love to get some other peoples thoughts on this prospect. I know, if it's that easy everyone would be doing it, but if people aren't aware of this opportunity or they are too gun shy or conservative or just don't have the vision of what Samui is going to look like in a few short years time. The island isn't getting any bigger and most of the land is already snapped up, there is only so much room for high end subdivisions like what is currently being developed. My goal would be to either flip in after it's built for the 30 to 40 mil, or keep it and have it rented out especially during Xmas/NY/Chinese New Year/Euro Vacation periods for a lot of money per night. What am I missing? I would love to hear from somebody that has thoughts and knowledge on the subject especially specifically that area in Samui.

[paulfr]

40 Million Baht is not a lot of money for a home ??

You certainly travel in richer circles than I.

More power to you.

[snoophound]

Yep Samui is hot right now.

Helped by the Bangkok air flights direct from Sing and HongKong.

Wealthy expats are coming to play.

Its good news,but I wonder whether the islands infrastructure can support all the development.

I believe next to that development or very near a very large shopping,entertainment,movie center is to be built.

If you have the cash to risk its prob a reasonable speculative play.

I've just traveled down to Samui and looked around the island for property.  I looked all over the island and one area that jumped out at me was in the Northeast corner of the island.  The area is called Cheong Mon (spelling?).  It's on the other side of the mountain/hill from the airport so no airplane noise.  It is however only a 5 minute or so drive from the airport.  Specifically there is a new subdivision being built by a developer called Samui Estates.  The first phase of the development is called Narayan Heights, there were 18 lots being offered at a price of 8 million baht per rai.  The plots averaged about 3/4 of a rai each.  The total subdivision is about 25 rai, so the extra space is for park land and a 6 meter wide road through the subdivision.  This place sold out in 2 months, phase 2 is now being built next door and the price per rai is now 10 million.  The sales pitch is that, if you buy the land, build a villa yourself (rather have it built by a pro for you), after the villa is complete, the subdivision is completely finished, you will be left with a home worth 30 to 40 million baht.  This is presuming you build a fabulous home anywhere from 350 to 650 Sq meters.  You also have to build a home according to the developers design criteria, which is high end Bali/Thai style.  The price to build a home like this is about 20,000 baht per sq meter so a 500 sq m home will cost 10 million to build.  Toss in another 2 or 3 million to landscape the place and buy nice furniture, you're looking at close to 20 million baht.  The trick is, can you really parley that into 30 to 40 million 2 years later when all the homes are built and the subdivision is finished.  Since phase 1 (Naryan Heights) is sold out, phase 2 (Gentara is the name of phase 2 I think) is now for sale, phase 3 and 4 are in the early stages of getting mapped out and won't be even offered for sale for at least a year.  You really have to see the plan for the subdivisions, these relatively few homes, maybe 40 in total for Gentara and Narayan Heights are going to be in a gated community that goes up the mountain side with a spectacular sea view, the homes will be spread out for privacy, i.e. less than one home per rai, the slope of the mountain guarantees perfect views from every house.  I've looked around this NE corner of Samui and it's sort of the new super-hi-end area.  5 Star resorts are going in, Kapinski just bought a 50 Rai plot bordering on Gentara/phase 2 and will build a super exclusive 5 star resort.  Another good thing about Samui is the 3 story height restriction, so you'll never see the high rises of Phuket.  As of this year, there actually are US$million dollar homes on Samui and I've looked at about 6 of them, don't think there are currently many more than that.  I can't see why if I buy a 3/4 rai plot in Gentara for 7.5 M, build a home, furnish and landscape 12M, why wouldn't I be able to sell it for 40 million as these other houses I've seen are getting.  These other homes don't have a better view, better location, better layout, more exclusivity or really better anything as far as I can see.  I really can't comment of the quality of the buildings but for 20,000 per sq m by an experienced builder has to be of equivalent or greater standards than these homes.  Bangkok Air now has non-stops from HK and for a lot of people in HK, 40 million baht is not a lot of money for a beautiful home in an exclusive gated community to go to for Chinese New Year or whatever.  I've been thinking about this and would love to get some other peoples thoughts on this prospect.  I know, if it's that easy everyone would be doing it, but if people aren't aware of this opportunity or they are too gun shy or conservative or just don't have the vision of what Samui is going to look like in a few short years time.  The island isn't getting any bigger and most of the land is already snapped up, there is only so much room for high end subdivisions like what is currently being developed.  My goal would be to either flip in after it's built for the 30 to 40 mil, or keep it and have it rented out especially during Xmas/NY/Chinese New Year/Euro Vacation periods for a lot of money per night. What am I missing? I would love to hear from somebody that has thoughts and knowledge on the subject especially specifically that area in Samui.

<{POST_SNAPBACK}>

[Nepal4me]

paulfr Posted Today, 2005-05-26 14:45:20

40 Million Baht is not a lot of money for a home ??

You certainly travel in richer circles than I.

More power to you.

Actually, I said, "for a lot of people in HK, 40 million baht is not a lot of money for a beautiful home". There is a ton of money in HK, lots and lots of multi-millionaires.

There are also a lot of retiring people all over the world looking for a place to park some of their money.

[Khun Jean]

It is a pity that they can spend the money but not really 100% own it.

[taxexile]

i think its a big gamble.

a lot of those million dollar homes are standing around unlived in and unsold.

all these gated communities seem to be devoid of inhabitants apart from the maids and swimming pool maintenance crews who seem to be living a life of riley.

not so many regular inhabitants that give a neighbourhood some life and character.

the infrastructure on the island is not yet up to scratch and there is fck all to do on samui except sit on your verandah by your infinity pool and balinese fusion style sala and count your money or watch it disappear.

some of the recent "immigrants" leave a lot to be desired too , it must be said.

buy some land and sit on it or rent a place would seem a better bet to me.

i bought some land there three years ago with a view to building , but i left the island recently , i'd had enough of the high prices ,increasing noise and traffic , poor service , dirty water , power cuts and the greedy take it or leave it attitude of all who do business there .

it is also losing all vestiges of its "thainess" , its sold its soul to foriegners , and is becoming more like majorca or the spanish coast every day.

that may not bother some people , but it bothered me.

its a lovely island for a few weeks or a few months if you enjoy living a low key relatively low expenditure kind of life , and no i dont mean counting your baht each mealtime backpacker type life either , you dont need a james bond style house to live comfortably there , in fact for a relaxing existence there you should downsize as much as possible , but i would not want to invest large amounts of money on that island.

buy your luxury home on the mainland in bangkok or hua hin or phuket and have a simple cheap low maintenance holiday home of 150 sq. meters on a hillside there , you could do it for 3 or 4 mill. including the land and leave the luxury estates to the posers with more money than sense

selling those big houses may take years , selling a piece of land without a house is a lot easier and your profit will be better.

hundreds of land agents have descended on the place promising the earth in the way of rental returns and a luxurious palm tree framed dream lifestyle , take it with a pinch of salt. its a huge gamble in my opinion.

you will pay a fortune to the developers in commission to manage the place and rent it out whilst you are not there.

they are experts at selling the dream.

go and live there for six months before spending a large amount on building a home.

i wont even start on how to deal with builders and their "contracts" and elastic budgeting.

[Tornado]

I am doing something very similiar in Phuket. What I would suggest is have a look around the area for major infrastructure and also how many other developments in that budget surround it.

The majority of my clients are from Hong Kong or Singapore and 1 mil USD is nothing to them, or anyone now who lives in the real world.

If you like it mate, buy it, Islands are only so big and good land is hard to find anywhere.

You cannot buy an apartment for that in Hong Kong.

[The_Moog]

You cannot buy an apartment for that in Hong Kong.

Exaggeration !- many apartments available in Hong Kong for less than US$1 million /HK$ 7.8m

[taxexile]

tornado

1 mil USD is nothing to them, or anyone now who lives in the real world.

earth to tornado , earth to tornado , are you receiving me !!

come down to earth immediately , i repeat.............

1 mill u.s. is a lot to 95% of the planet , all of whom live on the real world.

as a developer its in your interests to promote that kind of lifestyle , but realistically speaking , that kind of lifestyle is more suited to the caribbean , the french riviera or florida , where the infrastructure will give the heavy hitters what they require in the way of shops , restaurants , hospitals and infrastructure and the kind of service that the rich take for granted.

samui is way behind on those fronts , there is no shopping there apart from tourist tat of the lowest quality , the restaurants and pubs are ok for boozers and singles on a package holiday island , but way below the standards to be found where millionaires gather , and the hospitals are pure rip- offs. the roads flood regularly after each shower , even in the main centres , and the island is slowly but surely being uglified by inappropriate construction almost everywhere you look.

samui just aint got no class at all ! in spite of the picturesqueness of the place its just not a very nice place to be anymore , and a lot of that is down to the general unfriendliness , unreliability and lack of sincerity of the people there.

the attitude of the business people there towards customers leaves a lot to be desired.

to buy a $1,000,000 home on a $9.99 island is pure folly.

samui is definately more suited to a lower key kind of existence.

[andy50]

also the quality of the construction is another factor ,if the place falls apart after its sold i very much dought if there is any recourse

i took a look at a development on phuket last year ,these houses were built into the side of a hill,

the quality of the building was terrible, they were using short pieces of batten all joined up, to build part of the roof, and the welding of the steel roof was just tacked, instead of doing a proper weld ,just a pile of c*ap!

[Nepal4me]

i think its a big gamble.

a lot of those million dollar homes are standing around unlived in and unsold.

all these gated communities seem to be devoid of inhabitants apart from the maids and  swimming pool maintenance crews who seem to be living a life of riley.

not so many regular inhabitants that give a neighbourhood some life and character.

**First I don't think there are many million dollar homes on Samui so it's hard to say they're unlived in and unsold as a rule.  Same for the gated communities, there are a some and I wouldn't argue that they have few inhabitants, little neighbourhood life and character but that can also be translated into 'privacy'. 

For the purposes of the rich coming from HK or Singapore or wherever to a high end gated community.  It's not for the social life, it's for a James Bond style exclusive and private place to not be bothered by anybody.

the infrastructure on the island is not yet up to scratch and there is fck all to do on samui except sit on your verandah by your infinity pool and balinese fusion style sala and count your money or watch it disappear.

**I agree the infrastucture is weak, hopefully it'll improve over the next few years.  Rich people coming to all the new 5 Star resorts as well as to the James Bond villas will help the economy and hopefully we'll see the infrasture improve.

some of the recent "immigrants" leave a lot to be desired too , it must be said.

buy some land and sit on it or rent a place would seem a better bet to me.

**I've thought a lot about that option and may do just that as well but the potential, albeit with some risk to turn 20M baht into 30 to 40 Mil is compeling.

i bought some land there three years ago with a view to building , but i left the island recently , i'd had enough of the high prices ,increasing noise and traffic , poor service , dirty water , power cuts and the greedy take it or leave it attitude of all who do business there .

**I guess I wasn't there long enough to get that distaste but again, that's not my primary concern.  I'm more into this from an investment perscpective. 

Still have your land???

it is also losing all vestiges of its "thainess" , its sold its soul to foriegners , and is becoming more like majorca or the spanish coast every day.

**Well if you can't beat 'em, join 'em.  Change is constant, it's Samui now, it'll be Phang ngan next.  What can you do, keep paradise unspoiled and unknown to the world?  My plan here in fact contributes to the Spanish Coast or Hawaii like evolvement but if I don't buy it, some other rich guy from HK or wherever will. 

that may not bother some people , but it bothered me.

its a lovely island for a few weeks or a few months if you enjoy living a low key relatively low expenditure kind of life , and no i dont mean counting your baht each mealtime backpacker type life either , you dont need a james bond style house to live comfortably there , in fact for a relaxing existence there you should downsize as much as possible ,  but i would not want to invest large amounts of money on that island.

buy your luxury home on the mainland in bangkok or hua hin or phuket and have a simple cheap low maintenance holiday home of 150 sq. meters on a hillside there , you could do it for 3 or 4  mill. including the land and leave the luxury estates to the posers with more money than sense

**To buy in BKK or Hua Hin or even Phuket is higher in price than Samui and I believe has less potential to go up, actualy HH may not be more expensive but it isn't the int'l destination that Samui is.  My goal isn't a cheap low mtnc holiday home, myself, personally I'd rather go to different places when on vacation.  I can't afford a hi end place in BKK, it's already priced to crazy levels and the upside potential altho possible is far less likely lucrative than the Samui opportunity.  I'm looking at this as a business opportunity.

selling those big houses may take years , selling a piece of land without a house is a lot easier and your profit will be better.

**It's supply and demand, the island is not getting bigger, there can never be hundreds and hundreds of high end homes.  The demand is there, via direct flights, great weather etc.  Tourism is only increasing in Thailand and Samui has already evolved from a backpacker place on upward, it's now on the radar map of the world and that will continue, that's life.  There is high demand there.

hundreds of land agents have descended on the place promising the earth in the way of rental returns and a luxurious palm tree framed dream lifestyle , take it with a pinch of salt. its a huge gamble in my opinion.

**The rental return thing on only a 'bonus', if I can rent it out for big numbers, then great, if not, my plan would be to flip it.  BTW, a friend from HK and his wife and 3 other couples came to Samui last Xmas.  They paid US$1000/night for 7 nights for a high end villa.  4 bedrooms, infinity pool, really high end.  That's the going rate today for these types of places.  It was then only US$250 per couple and they had their own villa not shared by other tourists, their own maid and chef to boot.  Those rates are obviously only during the really high seasons, Xmas, NY, Chinese NY and a few other short periods of time.

you will pay a fortune to the developers in commission to manage the place and rent it out whilst you are not there.

**This isn't true, you only have to pay 10% of the total rent and only when it's rented out. 

they are experts at selling the dream.

go and live there for six months before spending a large amount on building a home.

i wont even start on how to deal with builders and their "contracts" and elastic budgeting.

<{POST_SNAPBACK}>

tornado 

1 mil USD is nothing to them, or anyone now who lives in the real world.

earth to tornado , earth to tornado , are you receiving me !!

come down to earth immediately , i repeat.............

1 mill u.s. is a lot to 95% of the planet , all of whom live on the real world.

** Altho a mil US is a ton of money to most of the world, it's the 5% of the world that it's not a lot of money to that I'm concerned about here. The HK and Singapore money is big, a mil US is really chump change to many there. A US$1M apt in HK is available but it's not even close to being nice especially in the falang/guillo areas. Compare that to the place I can get built for 20M baht, half a mil USD!!!

as a developer its in your interests to promote that kind of lifestyle , but realistically speaking , that kind of lifestyle is more suited to the caribbean , the french riviera or florida , where the infrastructure will give the heavy hitters what they require in the way of shops , restaurants , hospitals and infrastructure and the kind of service that the rich take for granted.

samui is way behind on those fronts , there is no shopping there apart from tourist tat of the lowest quality , the restaurants and pubs are ok for boozers and singles on a package holiday island , but way below the standards to be found where millionaires gather , and the hospitals are pure rip- offs. the roads flood regularly after each shower , even in the main centres , and the island is slowly but surely being uglified by inappropriate construction almost everywhere you look.

**You're right there, the infrastucture isn't there now. The flooding is particularily annoying. Course rainy season isn't when the $1K/night renters are coming. Have to count on improvments happening anyway, progress and all. It's come a long way, not always for the better as you point out but it's changing, at least it has multiple hospitals now, an international school is coming soon too. Lots of not so nice development and construction but lots of good product too.

samui just aint got no class at all ! in spite of the picturesqueness of the place its just not a very nice place to be anymore , and a lot of that is down to the general unfriendliness , unreliability and lack of sincerity of the people there.

the attitude of the business people there towards customers leaves a lot to be desired.

** Got to be the same as anywhere else in Thailand where Falangs and locals mix.

to buy a $1,000,000 home on a $9.99 island is pure folly.

samui is definately more suited to a lower key kind of existence.

**I believe that was yesterday, today and tomorrow it's going upscale.

<{POST_SNAPBACK}>

also the quality of the construction is another factor ,if the place falls apart after its sold i very much dought if there is any recourse

** need to be very careful on that front. My original plan was to buy the land, build the villa and then sell it, and you're right it's buyer beware, the buyer has little recourse. I do however want to ensure it's built to very high standards and will be monitoring the construction (actually, I'll have some other people I know involved to do that).

Overall I'm still leaning heavily towards making this investment. I don't have 20M baht to lose but I feel pretty good that when it's said and done, the place will be worth at least 20M, that's based on the crappier stuff that's selling now at prices far higher than that.

[snoophound]

I had a good look at these

http://www.royaldevelopments.com/rsb/villas.php

Building standard was pretty high by Thai Standards.

Place is pretty much 100% sold but some are avail on resale I believe.

The early buyers have doubled there money.

Prices range from 4m to 10m baht.

Near the development you mention,so you may have had look already.

Mainly expat buyers once again.

i think its a big gamble.

a lot of those million dollar homes are standing around unlived in and unsold.

all these gated communities seem to be devoid of inhabitants apart from the maids and  swimming pool maintenance crews who seem to be living a life of riley.

not so many regular inhabitants that give a neighbourhood some life and character.

**First I don't think there are many million dollar homes on Samui so it's hard to say they're unlived in and unsold as a rule.  Same for the gated communities, there are a some and I wouldn't argue that they have few inhabitants, little neighbourhood life and character but that can also be translated into 'privacy'. 

For the purposes of the rich coming from HK or Singapore or wherever to a high end gated community.  It's not for the social life, it's for a James Bond style exclusive and private place to not be bothered by anybody.

the infrastructure on the island is not yet up to scratch and there is fck all to do on samui except sit on your verandah by your infinity pool and balinese fusion style sala and count your money or watch it disappear.

**I agree the infrastucture is weak, hopefully it'll improve over the next few years.  Rich people coming to all the new 5 Star resorts as well as to the James Bond villas will help the economy and hopefully we'll see the infrasture improve.

some of the recent "immigrants" leave a lot to be desired too , it must be said.

buy some land and sit on it or rent a place would seem a better bet to me.

**I've thought a lot about that option and may do just that as well but the potential, albeit with some risk to turn 20M baht into 30 to 40 Mil is compeling.

i bought some land there three years ago with a view to building , but i left the island recently , i'd had enough of the high prices ,increasing noise and traffic , poor service , dirty water , power cuts and the greedy take it or leave it attitude of all who do business there .

**I guess I wasn't there long enough to get that distaste but again, that's not my primary concern.  I'm more into this from an investment perscpective. 

Still have your land???

it is also losing all vestiges of its "thainess" , its sold its soul to foriegners , and is becoming more like majorca or the spanish coast every day.

**Well if you can't beat 'em, join 'em.  Change is constant, it's Samui now, it'll be Phang ngan next.  What can you do, keep paradise unspoiled and unknown to the world?  My plan here in fact contributes to the Spanish Coast or Hawaii like evolvement but if I don't buy it, some other rich guy from HK or wherever will. 

that may not bother some people , but it bothered me.

its a lovely island for a few weeks or a few months if you enjoy living a low key relatively low expenditure kind of life , and no i dont mean counting your baht each mealtime backpacker type life either , you dont need a james bond style house to live comfortably there , in fact for a relaxing existence there you should downsize as much as possible ,  but i would not want to invest large amounts of money on that island.

buy your luxury home on the mainland in bangkok or hua hin or phuket and have a simple cheap low maintenance holiday home of 150 sq. meters on a hillside there , you could do it for 3 or 4  mill. including the land and leave the luxury estates to the posers with more money than sense

**To buy in BKK or Hua Hin or even Phuket is higher in price than Samui and I believe has less potential to go up, actualy HH may not be more expensive but it isn't the int'l destination that Samui is.  My goal isn't a cheap low mtnc holiday home, myself, personally I'd rather go to different places when on vacation.  I can't afford a hi end place in BKK, it's already priced to crazy levels and the upside potential altho possible is far less likely lucrative than the Samui opportunity.  I'm looking at this as a business opportunity.

selling those big houses may take years , selling a piece of land without a house is a lot easier and your profit will be better.

**It's supply and demand, the island is not getting bigger, there can never be hundreds and hundreds of high end homes.  The demand is there, via direct flights, great weather etc.  Tourism is only increasing in Thailand and Samui has already evolved from a backpacker place on upward, it's now on the radar map of the world and that will continue, that's life.  There is high demand there.

hundreds of land agents have descended on the place promising the earth in the way of rental returns and a luxurious palm tree framed dream lifestyle , take it with a pinch of salt. its a huge gamble in my opinion.

**The rental return thing on only a 'bonus', if I can rent it out for big numbers, then great, if not, my plan would be to flip it.  BTW, a friend from HK and his wife and 3 other couples came to Samui last Xmas.  They paid US$1000/night for 7 nights for a high end villa.  4 bedrooms, infinity pool, really high end.  That's the going rate today for these types of places.  It was then only US$250 per couple and they had their own villa not shared by other tourists, their own maid and chef to boot.  Those rates are obviously only during the really high seasons, Xmas, NY, Chinese NY and a few other short periods of time.

you will pay a fortune to the developers in commission to manage the place and rent it out whilst you are not there.

**This isn't true, you only have to pay 10% of the total rent and only when it's rented out. 

they are experts at selling the dream.

go and live there for six months before spending a large amount on building a home.

i wont even start on how to deal with builders and their "contracts" and elastic budgeting.

<{POST_SNAPBACK}>

tornado 

1 mil USD is nothing to them, or anyone now who lives in the real world.

earth to tornado , earth to tornado , are you receiving me !!

come down to earth immediately , i repeat.............

1 mill u.s. is a lot to 95% of the planet , all of whom live on the real world.

** Altho a mil US is a ton of money to most of the world, it's the 5% of the world that it's not a lot of money to that I'm concerned about here. The HK and Singapore money is big, a mil US is really chump change to many there. A US$1M apt in HK is available but it's not even close to being nice especially in the falang/guillo areas. Compare that to the place I can get built for 20M baht, half a mil USD!!!

as a developer its in your interests to promote that kind of lifestyle , but realistically speaking , that kind of lifestyle is more suited to the caribbean , the french riviera or florida , where the infrastructure will give the heavy hitters what they require in the way of shops , restaurants , hospitals and infrastructure and the kind of service that the rich take for granted.

samui is way behind on those fronts , there is no shopping there apart from tourist tat of the lowest quality , the restaurants and pubs are ok for boozers and singles on a package holiday island , but way below the standards to be found where millionaires gather , and the hospitals are pure rip- offs. the roads flood regularly after each shower , even in the main centres , and the island is slowly but surely being uglified by inappropriate construction almost everywhere you look.

**You're right there, the infrastucture isn't there now. The flooding is particularily annoying. Course rainy season isn't when the $1K/night renters are coming. Have to count on improvments happening anyway, progress and all. It's come a long way, not always for the better as you point out but it's changing, at least it has multiple hospitals now, an international school is coming soon too. Lots of not so nice development and construction but lots of good product too.

samui just aint got no class at all ! in spite of the picturesqueness of the place its just not a very nice place to be anymore , and a lot of that is down to the general unfriendliness , unreliability and lack of sincerity of the people there.

the attitude of the business people there towards customers leaves a lot to be desired.

** Got to be the same as anywhere else in Thailand where Falangs and locals mix.

to buy a $1,000,000 home on a $9.99 island is pure folly.

samui is definately more suited to a lower key kind of existence.

**I believe that was yesterday, today and tomorrow it's going upscale.

<{POST_SNAPBACK}>

also the quality of the construction is another factor ,if the place falls apart after its sold i very much dought if there is any recourse

** need to be very careful on that front. My original plan was to buy the land, build the villa and then sell it, and you're right it's buyer beware, the buyer has little recourse. I do however want to ensure it's built to very high standards and will be monitoring the construction (actually, I'll have some other people I know involved to do that).

Overall I'm still leaning heavily towards making this investment. I don't have 20M baht to lose but I feel pretty good that when it's said and done, the place will be worth at least 20M, that's based on the crappier stuff that's selling now at prices far higher than that.

<{POST_SNAPBACK}>

[taxexile]

nepal4me

I'm more into this from an investment perscpective. 

Still have your land???

if investment is your primary objective and you can wait a while for any returns on your 20 mill. then you should go for it.

but the gated communities there do take years to develop and mature and for years resemble a noisy scruffy building site more than a paradise.

the gripes i have with the way samui is developing will not be of any concern to a developer.

it sounds like you have almost made your decision. good luck.

i dont have any plans to sell my land there .

[Tornado]

Taxexile is always negative, has no idea on what sells and what doesnt, nor about places that ARE booming in Thailand. Samui is far from a sleepy hollow anymore, you are way off the mark! The real world to me is the business world, not John Smith and the Mrs working two jobs to pay the bank - that is for mugs and it is not the real world! Expats in Asia (not teachers or bar owners) earn great money and the majority of guys I know are well under 40 are at least millionaires or multi - Im not talking about a few, Im talking about the majority of my mates and my clients - my real world sounds like it is much more exciting - wouldnt you say?

Your rant about infrastructure and the caribbean being more suitable is just dribble. Firstly inrastructure is not as high end as many other holiday destinations, but it is definately heading that way. Secondly it is being able to buy a piece of paradise in ASIA, being a short flight from the office, be it China, Singapore or Hong Kong. What would you suggest other than Thailand? surely not Cambodia, Laos, Burma, Philipines or Indo? - bad press and bombings havent hepled a couple, and the rest are overpriced toliets. Thirdly the poster did not say he was going to live there, he was thinking of buying to resell for a handsome profit.

When I arrived in Phuket 8 years ago, Phuket was cheap as chips and even then I thought it was overpriced, but I also believed Phuket was going to boom, considering the alternatives. I agree Samui is far behind Phuket in Infrastructure at the moment, but wait another couple of years. Good land is scarce, infrastructure will evolve.

Do not ever patronise me again with your condesending manner, unlike you I am not negative about business in Thailand, especially the business of real estate, that I am very good at. I have made a lot of money for many people on and off this Island - what have you actually done?

The Moog - show us all a few photos of large apartments of high end specs with sea views in Hong Kong for under $1 mil. Im not saying you are wrong, but it also depends where you live (I did not make that clear in my initial post).

[chuchok]

Your real world does sound exciting Torn, but it is your circle of mates etc.I don't think 95% of the members on this board are in that league.It's all very well to have assets worth a mill,but to have it lying around in loose change for investment purposes is another world IMO.

my cousin recently bought a nice apartment in HKG for USD650,000.Has nice harbour views too.(That was 9 months ago....)...hate to think what it is worth now

[taxexile]

Taxexile is always negative, has no idea on what sells and what doesnt, nor about places that ARE booming in Thailand. Samui is far from a sleepy hollow anymore, you are way off the mark! The real world to me is the business world, not John Smith and the Mrs working two jobs to pay the bank - that is for mugs and it is not the real world! Expats in Asia (not teachers or bar owners) earn great money and the majority of guys I know are well under 40 are at least millionaires or multi - Im not talking about a few, Im talking about the majority of my mates and my clients - my real world sounds like it is much more exciting - wouldnt you say?

Your rant about infrastructure and the caribbean being more suitable is just dribble. Firstly inrastructure is not as high end as many other holiday destinations, but it is definately heading that way. Secondly it is being able to buy a piece of paradise in ASIA, being a short flight from the office, be it China, Singapore or Hong Kong. What would you suggest other than Thailand? surely not Cambodia, Laos, Burma, Philipines or Indo? - bad press and bombings havent hepled a couple, and the rest are overpriced toliets. Thirdly the poster did not say he was going to live there, he was thinking of buying to resell for a handsome profit.

When I arrived in Phuket 8 years ago, Phuket was cheap as chips and even then I thought it was overpriced, but I also believed Phuket was going to boom, considering the alternatives. I agree Samui is far behind Phuket in Infrastructure at the moment, but wait another couple of years. Good land is scarce, infrastructure will evolve.

here we go !

multimillionaire whizz kid lifestyle guru middleman land agent d-list phuket celeb tornado , the "donald trump" of patong beach , that sleazy dump ,who has made so many people rich gets the hump at some criticism.

The real world to me is the business world, not John Smith and the Mrs working two jobs to pay the bank - that is for mugs and it is not the real world!

whats wrong with the mr. and mrs smiths of this world quietly earning a living , dont you patronise the millions of honest people out there in the real world.

if you can do business with millionaires and multimillionaires then good luck to you , but dont blather on about the worthlessness of average people.

Do not ever patronise me again with your condesending manner, unlike you I am not negative about business in Thailand, especially the business of real estate, that I am very good at. I have made a lot of money for many people on and off this Island - The real world to me is the business world, not John Smith and the Mrs working two jobs to pay the bank - that is for mugs and it is not the real world! Expats in Asia (not teachers or bar owners) earn great?

any dork can sell land to gullible visitors with more money than sense who are befuddled by palm trees and cheap beer , i dont know you personally and so i cant comment on how you do business , but most (not all ) of the agents i had dealings with on samui didnt know sh1t about the land or houses they were trying to shift , didnt know sh1t about the rules about purchasing , leasing or money transferring.

they were amateurs spreading misinformation whilst nursing hangovers.

failures back home and chancers here.they were drooling at the thought of the commission they would earn , but were not prepared to do much work to get it.

and as for samui being a "paradise"..... what exactly do you mean by paradise.

i quote from a samui real estate brochure.

" guests can dine for breakfast lunch and dinner making "the ------" the ideal meeting place , with the preferred westerly aspect owners and guests will enjoy afternoon cocktails while fabulous sunsets fade into the horizon , on sundays a professional dj will provide the latest music to complement the mood.

the venue will be unlike anything seen on koh samui and will be the talk of the island , "The ------" will use only the finest materials furniture and decor with attention to detail.

imagine custom designed outdoor furniture on expansive front lawns while waiters cater to your culinary delights. the restaurant bar will be a favourite among locals and tourists alike.

the entry will have a spectacular water feature with lush tropical gardens , a large parking area will cater for guests where valet parking will set new standards.

owners will be envied by their friends and guests , and thats how it will be at your place....."The -------"

is that what you mean by paradise , who writes this drivel , who believes this drivel.

sounds horrible i'm afraid , worth paying a million to stay away from envious guests and new standards of valet parking.

only low rent flash "millionaires" would buy into something as cheesy and trashy as that. real money will stay away.

its all about envy and showing off.

its superficial and empty. like samui i'm afraid.

money and rubbing shoulders with the rich and mega rich is not the be all and end all of life , but if it suits you , if some of their charisma drops off and lands on you and gives you happiness and satisfaction then fine.

i prefer a more down to earth kind of life.

what have you actually done?

well , i worked in a profession in london before taking early retirement at 48 and eventually coming out here. ive bought and sold property in the uk . i have little desire to do business here but i do have respect for those who have worked hard somewhere else and invested in small businesses here , such as bars , restaurants etc.

these are people living in the real world. they will sink or swim.

i have no desire to live in a million dollar home on an island like samui.

it may be a good idea for an investment , but i'm fortunate enough not to have to look at everything from an investment point of view. i've made my pile and i'm happy with what i've got. samui prices do NOT represent good value for someone looking for a home , as opposed to an investment. samui is an island for transients , there is no settled community there and for people looking for homes i dont think it makes sense.

and tornado , whilst i have no wish to make an enemy of you , i quite enjoy your postings , i will patronise you every day if i see fit.

Edited May 27, 2005 by taxexile

[Tornado]

hehe, I knew that'd get you going

[taxexile]

[Tornado]

<{POST_SNAPBACK}>

lot of work?

we are both arrogant big heads tax, so Ill agree to disagree

[The_Moog]

The Moog - show us all a few photos of large apartments of high end specs with sea views in Hong Kong for under $1 mil. Im not saying you are wrong, but it also depends where you live (I did not make that clear in my initial post).

For those specs - in Mid Levels, Peak, Repulse Bay, Stanley.

....yes, its about that price - and can be very significantly more.

[Jeff Jarvis]

If you build a high quality place with an ocean view and can hold it for 5 years or more you should be sitting pretty.

You might think of buying 2 plots and forget the building project.

[Kerryd]

If you build a high quality place with an ocean view and can hold it for 5 years or more you should be sitting pretty.

You might think of buying 2 plots and forget the building project.

<{POST_SNAPBACK}>

A co-worker here (and his brother-in-law) just bought a house on Koh Samui (early May). About 4 million baht, complete with swimming pool. (Yeah, they had to start a "business", and get the "company" to buy the house).

He did speak to some people and saw those high end subdivisions mentioned in the OP. Too rich for his blood (and mine).

They plan on renting the house out most of the year, or until the job here is finished.

As nice as Samui might be, I would still prefer to live on the mainland. I lived on Vancouver Island for quite a few years, and it was always a major pain in the butt if you wanted to go anywhere. Vancouver is only 22 miles away (as the drunken crow flies), but it can take 2-3 hours to get there, IF the ferries are running properly, AND there aren't too many other people trying to go at the same time.

[Khun Larry]

There are also a lot of retiring people all over the world looking for a place to park some of their money.

<{POST_SNAPBACK}>

Park money in Thailand? Good one!!

Good deals in Iraq too.

[taxexile]

As nice as Samui might be, I would still prefer to live on the mainland.

thats a very good point , and one of the reasons we decided to leave.

what appears to be a paradise at first can soon turn into a prison , we were going stir crazy there !!!

[Digger]

Just a small point to the original poster, but if the roadway is 6m wide, thats actually pretty small and certainly is not going to look in proportion to the development once its finished. I have seen this all too often, great houses and tiny streets where two cars cannot pass each other. Unfortunately many people take the view that a road is dead money but all to often, the decision on buying (or more importantly not buying) a place is often made before they step inside the house. You might want to look into that in more detail and envisage how your million baht villa is going to look with tiny streets.

[stevehaigh]

Toss in another 2 or 3 million to landscape the place and buy nice furniture, you're looking at close to 20 million baht.

what kind of landscaping cost 2-3 million baht for less than 1 rai? are you planting gold trees?

[skipdivils]

Toss in another 2 or 3 million to landscape the place and buy nice furniture, you're looking at close to 20 million baht.

what kind of landscaping cost 2-3 million baht for less than 1 rai? are you planting gold trees?

<{POST_SNAPBACK}>

He also said furniture...nice furniture. That, plus the landscaping (which could include a nice pool too) could easily come to 3 million baht for a high end joint.

[Kerryd]

That, plus the landscaping (which could include a nice pool too) could easily come to 3 million baht for a high end joint.

<{POST_SNAPBACK}>

My friend was quoted 40,000 baht for the pool (in front of his 4 mil baht home).

So the same thing in front of a 20 mil baht home would cost 200,000 baht ?

(probably more)

[taxexile]

My friend was quoted 40,000 baht for the pool (in front of his 4 mil baht home).

that mught get you a 2metre by 2 metre pool , about 20cm deep.

and then you would have to buy the pump.!!

[snoophound]

Decent pool on Samui

IMHO around 500-7ook baht

My friend was quoted 40,000 baht for the pool (in front of his 4 mil baht home).

that mught get you a 2metre by 2 metre pool , about 20cm deep.

and then you would have to buy the pump.!!

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