The implementation of a ministerial regulation concerning a new principle city plan for Nakhon Ratchasima is producing phenomenal changes in the property landscape of Khao Yai which has long been one of the country’s hottest destinations for property development investors.
According to the new city plan, buildings in the Khao Yai area will now be limited to only 2,000 sq m. This will effectively limit the size of property projects to 2-3 story condominiums and single houses.
The change cannot stop the consistent growth of property projects, especially those in the high-end market dominated by high purchase power customers. This group is characterised by its unique purchasing behaviour in the way that they choose properties on a basis of personal liking rather than price. Most of these customers are looking for a second or third residences for ultimate relaxation.
One of the purchasing behavior basics of condominiums in Khaoyai is the spectacular mountain views, especially from higher floors. With the change in city plan and its limitation on building size such high floor views will be no more, and can only be owned by purchasing already completed projects or current projects.
In addition, this area will benefit from the Bang Pa-in-Nakhon Ratchasima motorway project, expected to be completed in the next three years, making transport from Bangkok to be faster and more convenient, increasing growth and investment in the area. Moreover, it is noticeable that local entrepreneurs have an opportunity to compete with big developers so long as the project answers the personal needs of customers. This is evidenced by a number of new emerging developers succeeding in selling to top-notch customers.
Villanova Khao Yai is a prime example of a successful local developer in the high-end market. The project launched three months ago and its 47 units are now 30% sold. Located on Phan Suk-Kud Khla Road, which is less busy than the Thanarat Road side, the property boasts ultimate privacy and panoramic views, ideal for deep relaxation. Moreover, the location is conveniently connected to Mittraphap Road, providing a shortcut to Bangkok.
Because no more medium-rise condominiums will be built, the opportunities that remain to own and enjoy spectacular views of the mountains of Khao Yai from higher floors are unique. As such, investors are well advised to look into existing projects such as Villanova.
Meanwhile, the more serene and isolated neighbourhood offers easy access to Khao Yai’s tourist attractions and lifestyle hubs, thereby further underlining its status as a prestigious address.
Design and ambiance are other decisive factors among high purchase-power customers. Partnering with renowned architect firm, A49 House Design Limited, Villanova Condominium offers a Luxury Design residence inspired by small Tuscan villages in Italy. With one team designing both the architecture and interiors, a seamless and coherent environment has been formed both outside and inside the residences. Great emphasis has been placed on the landscaping of the project. Working in partnership with AXIS Landscape, the lake, garden, and pool are all Tuscan inspired, but with local flora, so ensuring that they will be beautiful all year round.
With warm, bright colours and large windows, every unit features an “ease-of-use” concept, combining functionality with aesthetics. Selecting only premium quality materials, finishings and furniture, each residence boasts a simple yet elegant look. Combined with its five-star services, Villanova Khaoyai offer the ideal luxurious countryside homes.
The change of city plan will affect future property development, limiting new supply and the types of building permitted. On top of this, the new motorway link will enhance the growth prospects of this already popular holiday destination. Existing condo owners will benefit from having an asset that will have increasing rarity value going forward. So far, there are still some opportunities for investors to purchase the last condominium units with a view of Khao Yai such as at Villanova Khao Yai, but time is running out.
Those interested in owning a perfect sanctuary and true residence in a Tuscan-inspired setting can contact Villanova Khao Yai. Tel. 0 2789 9989 or visit http://villanovakhaoyai.com/en/condo/
