spicyayam
Well-Known Member
Article from the Times Online:
“Property prices have appreciated substantially during the past few years,” it says. “Even after the terrorist attack in 2002 prices continued to increase — investors regard it as a one-time incident.”
Buyers are avoiding cheap — and cheaply built — villas that are expensive to maintain and opting instead for luxury developments that conform to rigid building standards (important in this earthquake-prone area) and sell for upwards of £2.5 million. Leading a new wave of high-end investors is Bulgari Hotels & Resorts. It is building five villas on the southern-most tip of the island, ranging in size from 1,710sq m to 4,415sq m in a development called The Residences.
The villas, which will be completed this year, are being built from local materials — for example, alang-alang thatch and bangkiray hardwood — and will include features such as private cinemas, solariums and staff quarters, as well as the obligatory swimming pools and manicured gardens. They are being sold for between £2.5 million and £6.5 million and are adjacent to the Bulgari Resort.
“Property prices have appreciated substantially during the past few years,” it says. “Even after the terrorist attack in 2002 prices continued to increase — investors regard it as a one-time incident.”
Buyers are avoiding cheap — and cheaply built — villas that are expensive to maintain and opting instead for luxury developments that conform to rigid building standards (important in this earthquake-prone area) and sell for upwards of £2.5 million. Leading a new wave of high-end investors is Bulgari Hotels & Resorts. It is building five villas on the southern-most tip of the island, ranging in size from 1,710sq m to 4,415sq m in a development called The Residences.
The villas, which will be completed this year, are being built from local materials — for example, alang-alang thatch and bangkiray hardwood — and will include features such as private cinemas, solariums and staff quarters, as well as the obligatory swimming pools and manicured gardens. They are being sold for between £2.5 million and £6.5 million and are adjacent to the Bulgari Resort.
