Over the last 6 weeks Malaiwana has sold a staggering 4 villas. At an average of 120 million THB per villa you are looking at sales of 480 Million THB, not bad for the “low” season. They have sold an impressive 20% of their total inventory in 6 of the quietest weeks. So what is the secret to their enviable success?
Psychologists and self-helpers would argue that this is the nature of sales, that if you harbor optimism and positive energy it resonates throughout your development. This is where the famous “winning streak” stems from. The enthusiasm gained from the first sale radiates through the seller and encourages the potential buyer to sign and so-on and so-forth. This is basic psychology, but unless the competitors are moping around with their tails between their legs, it doesn’t help to explain Malaiwana’s magic.
Relative to price, location and target market, Malaiwana has 2 significant competitors for off plan villas to consider since their launch in 2007. Firstly, the slightly older Andara Villas which were priced between $2-3 million USD.. However, with all of Andara’s villas completed, and re-sales of exceeding $6-7 million, this can no longer be considered as competition. It is worth noting that Andara is soon to launch a new phase of villas. Prices are yet to be released but the industry speculates between $6-7 million USD therefore have priced themselves out of Malaiwana’s competition.
Secondly is Istana development, located adjacent to Malaiwana. With spectacular views, GFAB design, superb investment potential, Istana has an impressive foundation as a major player. Instead, their success hinges on a show villa…or lack of. As I stressed in my “Image is Everything” blog, a show unit is paramount to buyers psyche. Buyers have to “see it to believe it”, this corner cannot be cut. With an estimated 30 months away from completion, Istana is a slow moving development and a far cry from the sales and progress amassed by the mighty Malaiwana. So, the considered competition appears limited apart from the re-sales in Phuket, but, the proof is in the pudding. What is it about this property that has stimulated accelerating sales?
The Beach Club
Having launched in January this year, the beach club has enhanced the entire development. It has transformed the already impressive portfolio of stunning villas with incredible views into lifestyle choice. It has created a nucleus for the development, a communal centre to gather for lunch, laziness and last sunlight. It is the perfect compliment to the privacy and tranquility of the private residence’s. The beach club provides a sensational lifestyle in an incredible location.
Location, Location, Location
Nai Thon is evolving in to a prime attraction for property and land. Boasting one of the best beaches in Phuket and easy access to the airport, land in Nai Thon is reaching $1 million plus per rai. Estimated values of private villas opposite Malaiwana have hit the whopping $15 million mark. With new hotels including, Pearl of Nai Thon and Vista Del Mar there is sure to be a bright future ahead for this hidden treasure.
Right on Time
Malaiwana are rightly proud of their progress and achievements, aside from some small weather interruptions, they have experienced minimal delays in construction. They have done exactly what the buyer has asked for and, virtually, delivered exactly what they promised.
Very few developments can offer the same prospectus; privacy, sea view, beach view, headland view, sunset view. I am not talking about elevated sea views 2 km from the beach, at Malaiwana the beach and sea feel close enough to touch. At 120 million THB average per villa it seems crass to say the villas are “value for money”, but that’s exactly what Malaiwana is offering when considering the entire package.
Miss it and Miss Out
It is always tough to be the first buyer in any development, it is also tough to be the buyer when you have choice from a number of plots. Malaiwana is now on the home stretch and beating their rivals to the finish line, with only 5 properties remaining can you afford to miss out?
A amalgamation of the above has catapulted Malaiwana to become the success story of 2011, I can’t wait to see what they do next…………
The new Malaiwana Residences. 8 Duplex apartments and 4 ultra exclusive Penthouses. It won’t come as a surprise that 25% have already been sold off plan, it seems the winning streak continues……
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