Q. Can I, as a non-Thai national own the land upon which the My Home is built?

A. There are ways for this to be achieved however because we are offering 90 year leases (3 x 30 years) and giving the owners the control of the land owning company upon completion of their properties it isn’t deemed necessary.

Q. If I wish to buy my home on a freehold basis as a Thai national or through the formation of a Thai company will I be allowed to do so?

A. No! In order to protect the aesthetics of the development and to ensure conformity etc. we have decided that each home will be sold on a 90 year lease (3 x 30 years back-to-back). Additionally we will offer all the shares in the company which owns the land and common facilities to each owner as part of the purchase package. Thus you will be leasing from a company that is owned in its entirety by the buyers only. This ensures the most comfort and investment for foreign owners under present Thai law.

Q. Who will manage the development once it is completed?

A. The developers will set up all the maintenance contracts i.e. gardening, security, engineering, swimming pool cleaning etc. and manage them for the first six months. Once everything is running smoothly then the day to day running of the development will be handed over to the owners. The owners committee will then manage the development on behalf of all owners through the Estate Manager and his/her team.
Q. How do you expect property prices to perform in Phuket in the future?

A. Obviously one can never absolutely predict any sort of property value increase. However it is a fact that property prices in Phuket and in the Laguna/Layan area in particular have increased by between 80% and 100% in the last 5-6 years! This illustrates the popularity and value for money of Phuket when compared against property value and rises in Bangkok and throughout most of Asia in the same period.
Q. Can I personalize my Luna Phuket home?

A. You will be able to pick all the granite and tile style and colours for most rooms as well as the bedroom, closet and kitchen door furniture. You will also be able to change several material finishes from our scope of options available. Additionally you can select all of your paintings, carpets and furniture or go with one of our specially designed furniture packages.
Q. What extra 0n-costs are there associated with my purchase other than for any requested extras or additional work, the furniture package or one-off sinking fund?

A. Only the cost of Lease registration with the land office which includes stamp Duty, taxes and registration fees. These are split 50/50 with the developer and based on current costs they should be in total no more than 60,000-70,000 Baht dependant on the home and plot that you choose.
Q. Is there a financing solution available for potential purchasers to take advantage of?

A. Following the pre-2000 financial crisis in Asia no local Thai banks or finance houses are either willing or legally able to offer mortgage facilities for non-Thai nationals. However your local offshore bank may well be able to offer you mortgage or loan facilities against this property or another or indeed other assets that you own either in Thailand or overseas.
Q. If, at some point in the future I should desire to sell my property how easy is it to do so?

A. There are several excellent local and International real estate agents with established offices in the Laguna/Layan area and the best of these are situated in the nearby Plaza Del Mar business center. The process is simple and your appointed agent will deal with everything for you. Additionally we, the developer, offer a re-sale service to our buyers. All our recent re-sales in the Laguna/Layan area have been relatively quick and all have achieved excellent returns on the original purchase price for our customers.

Q. What sort of return can I expect to receive if I wish to let out my home when not in residence?

A. The rental return per week should be approximately as follows:
Low season (May to November) - US$ 800 - 1,000
High Season (December to April) – US$ 1,200-1,500
Peak Season (December 15th to January 15th) – US$1,800 – 2,200

Longer term rentals will return approximately 20% - 30% less per week dependent on the length of stay.

Rentals will be generated through our Luna Phuket website, enquiries to our offices and by each owner themselves.

Once all our villas are sold our web site will be used exclusively for property rentals and any re-sales on behalf of our owners. Additionally rentals will also be sought on behalf of our owners through local contacts, Phuket information web sites and property and villa management companies and local real estate agents.

Whilst the Luna Phuket Management Office will not be marketing rentals in any other way, our staff will be pleased to facilitate and book advertisements. They will also recommend inexpensive and effective publications and web portals should an individual or group of owners wish to advertise for prospective customers.

Additionally we are very happy for you to market your own property and to keep all the proceeds from your marketing efforts, which is quite unique amongst the developments here in Phuket. In this case a flat fee will be charged by your management to cover the cost of airport transfers, laundry, toiletries and household cleaning.

 
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