EXCLUSIVE: The innovative long-term visa-with-property marketing scheme launched recently by Pattaya’s Kingdom Property in conjunction with Thailand Elite at its Southpoint development is already generating property sales just weeks into its launch.
Some 16 Thailand Elite cards under the 20-year visa programme have already been approved according to the developer, enabling buyers to proceed with their sales and purchase agreements.
Thailand Elite is part of the Royal Thai Government under the Ministry of Tourism, and members of Pattaya’s Immigration department were key attendees at the recent press conference in the Gulf of Thailand city.
The ability to stay for long period in Thailand without being retired, having a work permit or being married to a Thai have always been barriers to selling Thailand property to overseas buyers.
Nigel Cornick, Chief Executive Officer of Kingdom Property, told Dot Property Group: “The nationalities who have approved cards to date are from Bangladesh, China, France, India, Russia and the United Kingdom.
“Sales prices have ranged from THB 90,000 per sqm to THB 140,000 per sqm, with an average of approximately THB 125,000 sqm.”
He confirmed the level of new enquiries is still strong with China leading the way, although in the last two weeks there has been an upturn in the number of enquiries from Europe.
He added: “A road trip to China is planned for early August to some of the major provincial cities, and we are holding a real estate open day today with more than 90 confirmed attendees at our new mock up units in the building.
“We will be answering any questions on the visa programme from the attendees,” he concluded.
Earlier this month Cornick confirmed that his company had received more than 220 enquiries solely as a result of the visa-with-property scheme.