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Chiang Mai - February 2008
Chiang Mai’s first full service residence
by Robert Carry -
Thailand Property Report
Sixty percent of the units in Chiang Mai´s Azaya
development have already been snapped up by buyers eager
to tap into the northern city's fast-growing high-end
residential sector.
The Azaya is the first of the new breed of luxury
residential developments, which come fully serviced and
with the offer of rental management, for those that wish
to settle in Chiang Mai.
“Chiang Mai´s recent influx of 5-star hotels is bringing
an increasing amount affluent visitors to the area,” says
Project Developer Ian Hirsch. “We´ve drawn the attention
of investors looking for holiday homes with the
possibility of renting them out while the owner is away.”
Azaya is made up of 12 luxury villas on a three hectare
site in the up-scale Mae Rim area with units from two to
five bedrooms and 2-5000 sq. ft of internal living space.
Each villa includes a private swimming pool and sits on
approximately 18000 sq. ft of land. Prices range from
THB21m to THB45m.
Hirsch admits that it is a considerable investment, but
adds that buyers are getting a lot for their money: “While
this does represent the higher end of the market, our
homes are top-end quality and very generous in size,” he
explained. “Our pre-opening selling prices averaged just
60,000 baht/m2 (US$180/f2) fully fitted inclusive of large
land plots, averaging 1 rai. Personally, I have never seen
prices so low for top quality construction.”
The design of the villas, which seek to combine “modern
tropical exteriors with sophisticated European interiors”
is dramatic, but Hirsch says this has been a key draw,
“The bold and ambitious architecture and design is one of
our best selling points. This is an entirely fresh
approach and our clients love it.”
The resort setting also includes a number of on-site
amenities including tennis courts, gym and spa, while next
door the Four Seasons Resort offers top end dinning. The
surrounding area also features golf courses, waterfalls,
nature reserves and natural hot springs. Mae Rim itself is
located at the foothill of the Doi Suthep mountain range,
a short drive from Chiang Mai city centre.
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