Issue 11 | Feature brought to you by Habitat Group
Cast your mind back to 2004. That’s when Khun Chanin Vanijwongse, the founder and now Chief Executive Officer of Habitat Group, invested in his first property paying around THB 50,000 per sqm for a unit at Citysmart in Bangkok’s Sukhumvit Soi 18. He stayed there for a while, eventually doubling his money when selling a few years later.
Although he didn’t know it as that time, that experience formed the start of Habitat Group.
From there he became almost addicted to investing in luxury property, acquiring 10 in the space of just three years in the prime areas of the Thai capital. Eventually, some eight years after that first investment, he had some 70 projects and an immense amount of experience and knowledge as a pure property investor.
In 2012 he saw prices and yields were dropping and took what some would call the brave decision to divest his portfolio and look elsewhere. His idea was to continue investing but at lower prices where opportunities existed for both capital appreciation better yields.
After looking at several upcountry destinations he plumped for the Gulf of Thailand city of Pattaya because of its proximity to Bangkok and its position as the largest magnet for tourists in Thailand. To him it made total sense when looking at future developments, both in tourism and infrastructure. He predicted that demand for his projects would be strong.
He was not wrong.
His company took over a 32-rai site and converted it from traditional, single storey homes into what became the luxury, fully-furnished The Ville Jomtien pool villa project. Now 95 percent complete for readers of Thailand Property magazine fixed rental returns of 8 percent for three years are available for the three remaining units.
At this development his company will manage your investment for the whole year, or you can stay for three weeks – subject to conditions. The single four-bed property is THB 11.99 million while the two remaining three-bed properties retail for less.
Khun Chanin foresees that Pattaya’s property market will continue to grow for at least the next five years, with the drop in Russian buyers being replaced by ones from mainland China. Part of the research his company undertook proved that people like Pattaya – especially Thais from Bangkok who have purchased 80 percent of the 80 percent of units that have been sold at X2 Vibe Pattaya Seasphere to date.
His confidence also stems from his belief that his company offers something different in the market – and something that was born from his own experience as a property investor.
Now Habitat Group had enjoyed similar sales success with its newest development, the X2 Vibe Pattaya Seasphere project, a low-rise 8-storey resort condominium. The Group literally offers a turnkey, ready-to-move-in solution for investors, and for the remaining 20 percent of units it is also offering an impressive 8 percent returns for five years.
The success of this project, which has been marketed for a few months, is likely down to the high demand and low supply in Pattaya for this type of property – something that has come from Khun Chanin’s extensive research and experience.
This project offers freehold condominium units in the THB 3 million to THB 7 million price range, and that are branded with the X2 (Cross Two) label that has become synonymous with quality service and hospitality, not only in Thailand but beyond in Southeast Asia too.
Khun Chanin chose X2 because, as he put it, both companies share the same concept and have a common goal. For Habitat Group, they prefer to stay small and the 65 luxurious, boutique units at Vibe is proof of that.
He said that X2 has been involved from the start of the purchase of the land plot, and has advised all the way. He described Vibe as being a resort-style condo, but one with full services such as those you would find in a hotel.
The development has started construction and is scheduled to complete during Q2 or Q3 of 2017. More testament to its success and Khun Chanin’s vision is that the project has already sold 80 percent of its units since it started marketing.
The majority of sales have been to Thai buyers, with a smattering from Hong Kong and Singapore where the company has held roadshows.
What’s next? Habitat Group will be launching another branded project in Pattaya later this year, this time a pool villa project close to the beach. Khun Chanin also has plans in place for future development.
Perhaps what makes this project different, and its approach that’s firmly wining customers, is it is created for its owners by a talented team of real property buyers and investors who know exactly what their customers’ want from their investment.
