Sivana Hills - Luxury Pool Villas in Hua Hin

Foreign Property Ownership in Thailand

2010-09-06T04:00:00.000-07:00

A growing number of expats now own properties in Thailand. Are you one of them and if so, can you confidently say that you own your property legally?

In recent years the market in Thailand has opened up somewhat to foreigners who wish to legitimately own properties. However, there are some grey areas and expats who continue with the structures they put in place some years ago might be in for a shock if they are challenged.

It is illegal for foreigners to own land in Thailand. As an expat you cannot own the land your house stands on. Strata title ownership is allowed. Most apartments and condominiums are strata title leasehold, allowing foreigners to own the units. However, the law caps ownership by non-Thais at 49% of the space in a given development. It thus does not follow that just because you find a leasehold condominium that you can automatically own a unit. The developer must obtain government approval to have a portion of the units foreign-owned and then there is a strict control over the allocation to ensure that majority Thai ownership is maintained. Developers have been known to be less than honest when it comes to this allocation. They have sometimes allocated space by means that the government disallows, and thus foreigners illegally own their units.

The maximum allowable lease term in Thailand is 30 years, which is considered short in the western world. Leases cannot be legally arranged to run consecutively, removing that option for you to secure a 60-year lease, even though in practice this is often exercised.

If you wish to own a house there is the question of land ownership. Some expats have their Thai spouses own the property. This does not give security to you as the effective owner. Joint ownership is not allowed.

Some systems have been developed for the ownership of land through a Thai company. This is allowable but does not actually give you full proof protection. You are only allowed to own the minority of shares in a local company. Thus you still only have up to 49% ownership of the property in practice. To get around this, arrangements are often made for shares to be held by nominees. Lawyers arrange for a company registration where the legal practice staff are the other Thai shareholders.

Until recently there were seven Thai shareholders required for a Thai company. This was recently reduced to three. So the fact is that 51% or more of your house is owned by a lawyer and his Thai staff; maybe a secretary, accountant and driver. If you cannot substantiate that the capital for their shares was actually paid from their individual bank accounts, then the company registrar may declare your company illegal.

It is commonplace for the company to have small paid-up capital. Once it is established you make a loan to the company in order that it may purchase the house and land. So, in a practical sense you may own say 45% of a company with capital of 2 million baht. Your share is thus 900,000 baht. You bought the house for, say, 6 million baht. So you made a loan to the company of, say, 5.3 million. The legal situation is that you own 900,000 shares in a company that you do not control and that company owes you 5.3 million baht in loans. So the other shareholders could decide to sell the house, pay a dividend to themselves and not repay the loan. You would then be obliged to start legal action against these Thai shareholders through a Thai lawyer to recover what was actually all yours in the first place.

If you are one of these owners, how do you feel about it all now?

One of the options is for you to have your Thai spouse or a trusted friend to own just the land. You could even structure a company to do this if you feel confident that you can get over any objections the government might have. Next, you lease the land for your exclusive use for 30 years. Then you buy the house. There is no law that stops you actually owning a building in Thailand. This will at least give you much more protection than the usual way foreigners are coerced into the company structure.

Many expats decide to buy their own homes here as they feel they want to spend the rest of their lives in Thailand. Others feel that an investment property will be a good opportunity for the future. Whatever your personal reason for ownership, make sure you plan well for the future and can make an appropriate exit if and when the time occurs.

There are more and more financing options becoming available to foreigners hoping to buy property in Thailand, and over the coming weeks we will be covering these in more detail.

Source: http://www.bangkokpost.com/business/economics/194796/foreign-property-ownership-in-thailand

Investing in Thailand

2009-09-02T22:23:00.000-07:00

Should You Invest?

There are currently quite limiting restrictions on foreign ownership in Thailand, but with the need for foreign investment into the country to help it achieve constant economic growth, the restrictions are expected to be loosened in coming years. The tourist industry in Thailand is growing annually because more people are choosing the country as a holiday and residential destination.

Thailand is now a popular sophisticated tourist destination and foreign investors are become increasingly interested in the emerging property market.
Thailand has a warm climate all year round making it a popular retirement destination.
Bangkok and other major cities have a good buy-to-let market and they are currently experiencing high rental yields.
Thailand has a pro-landlord rental market which is good for investors wishing to rent out their property.
The cost of living in Thailand is cheaper than that in European countries.
Although the property purchasing process is slightly complicated in Thailand, the transaction costs are moderate for both buyer and seller.

Rental Yields

Thailand's rental market is currently experiencing a boom because of the increase in tourism. Major cities, especially Bangkok are experiencing high rental yields of 5.66% - 10.15%, the bigger the property the lower the rental yields, for example a 280 sq.m. apartment in the centre of Bangkok only reaches a rental yield of 5.66%. Hua Hin has many beachfront villas which in peak seasons can earn an investor good rental returns because it is in a prime location outside the city.

Standard of Living

Thailand enjoys a low cost of living compared to many other countries in the world. The cost of buying food can vary considerably from street stalls to fine restaurants. Thailand has an inexpensive and efficient transportation system and good health care. Accommodation is easy to find in most parts of the country and more and more Thai nationals are learning English so communicating is no longer a problem

Source: http://www.propertyfrontiers.com/research/country-guides/asia-pacific/thailand/country-guide.aspx

NEW Contact in Germany

2009-05-25T22:30:00.000-07:00

Sivana Hills now has a new contact in Germany - making it easier for you

to connect with us. Feel free to contact at the details below at your convenience:

Joachim Graul, Robinienstr. 14, D-68167 Mannheim

Tel: +49 621 3066686, +49 621 3066688

Fax: +49 621 3066687

Mobile: +49 176 62011497

E-Mail: joeshouse@web.de

Construction progress

2008-12-26T02:39:00.000-08:00

Villa Ashiyana is coming to life!

Our premium, deluxe villa has taken shape and is now in the process of completion.

With clear sea views and elaborate space - one is surely to covet the lifestyle brought

about by this 'beautiful home' - the true essence of the word, Ashiyana. The rooftop BBQ terrace is a highlight of this 4 bedroom and 4 bathroom pool villa.

PROPERTY news on The Nation newspaper

2008-12-24T00:36:00.000-08:00

Published on 19 December 2008

A luxury residential development at Hua Hin, the Sivana Hills, has won a silver award at the best development, Thailand, category of the prestigious UK Homes Overseas Awards.

The awards claim to reveal cre่me de la cre่me of the overseas property industry. The awards took into consideration various requirements for a successful development including quality, design, location, ease of access, value for money and leisure facilities.

The judging panel was made up for local and international property journalists with extensive exposure to projects around the world.

Homes Overseas Awards 2008 Winners revealed!

2008-12-01T02:41:00.000-08:00

SIVANA HILLS GAINS SILVER AWARD AT UK'S HOMES OVERSEAS CEREMONY

02 December 2008

London, England

The Homes Overseas Awards is the highly coveted UK event which reveals the crème de la crème of the overseas property industry. The gala dinner event which took place on Friday, 29th November 2008, was held at London's prestigious, Grosvenor House Hotel and was attended by project developers and agents worldwide.

Sivana Hills - Luxury Pool Villas in Hua Hin, Thailand was shortlisted to rank among the exclusive developments and won the Silver Award in the Best Development - Thailand category. The awards carefully took into consideration the various requirements for a successful development.

Some of the criteria were quality, design, location, ease of access, value for money and leisure facilities. The judging panel was made up of local and international property journalists, who have had extensive exposure to projects around the world. The visit to Sivana Hills on-site show house proved to be a success with the Homes Overseas Awards judge and allowed the project to gain its Silver rank.

Sivana Hills, by Bangkok Living Development, is the second development by the Thai company. With interiors and exteriors designed by some of the top firms in Thailand, the award comes as an exclusive edge to the project and proves the success of the overall concept.

New Villa Type C1 - Villa Issara, Starting at only 8.9 million THB

2008-11-28T03:18:00.000-08:00

In light of the economic downturn, we here at Sivana Hills, have decided to make it easier for you to be a part of our development. Based on the previous architectural designs, we are happy to introduce a new villa type C1 - Villa Issara. The new 3-bedroom Villa also comes with a private pool. The prices start at only 8.9 m THB. With a total built-up area of 238 sqm on a plot of 747sqm.

The purchase of the new villa type will also give you access to all of our luxury facilities including the high-class management services provided by one of the best management companies in Thailand, the Club House and other VIP on-site services.

We are also offering a great deal of customization for our clients such as changes in floor & bathroom tiles, kitchen colors, garden layouts and other reasonable adjustments. Our in-house development team will work with you to help build the home of your dreams!

Property feature on Hot Properties magazine

2008-11-19T02:23:00.000-08:00

15 Nov 08 - 15 Dec 08

Sivana Hills, a name which literally means “Oasis of Enlightenment”, is a luxurious development set on a 32 Rai site, backed by hills with a clear view out to the ocean. This is a lelatively new development in Hua Hin, having just acquired the land and broken ground in mid 2007. In June of this year, their first phase of development which will encompass in initial 15 Rai.

Only four villa styles will be offered, ranging from 360 sqm to a spacious 550, on plots averaging 850 sqm, and at a price point of 17-25 Million Baht. These villas are absolutely unique to Hua Hin, as the vision behind them, and the architect’s interpretation, created homes offering a paramount of Privacy, Luxury and Relaxation.

The developers have a long 15 years history of commercial property in Bangkok. Their recent foray n to residential sector was a booming success in the light of their first project, an 8 storey- 4 tower condominium complex, that has been sold out and was completed in 2007. Hua Hin is the scene for their next endeavor from a company dedicated at delivering a bespoke, quality product to their clients.

This sing gated community will offer residents the pleasure of being whisked away to their own private sanctuary, the minute they step onto their property. The design flair has been highlighted with a contemporary Asian style with distinctively modern touch. Each home will bask in having its own private pool and tropical gardens. And will even com with and outdoor Jacuzzi spa and massage bench.

Homes com partially furnished and fully fitted, along with European kitchens, indirect lighting throughout, built in air condition units, 3.5 meter tall ceiling, rainwater distribution systems to the garden and toilet, natural roof circulation systems – keeping the home cooler, and much more. In fact, the entire site was laid out by a Feng Shui Master from Hong Kong that directed the team where to best place the plots, roads, and every element of the master plan.

The development is also offering attractive financing schemes, making the purchase process easier, and will offer and standard rental return of 7%. This and be guaranteed, because the management company hired has an excellent track record in this field, and will offer as standard, maid service, gardeners, drivers, and concierge services. In fact when it comes to fully managed, financially attractive holiday homes, Sivana Hills is certainly at the top of that list.

Inauguration of the "Spirit House" on 5 Nov 08

2008-11-17T00:15:00.000-08:00

An intriguing part of Thailand is the respect given to local culture and religious traditions. Bangkok Living Development Co., Ltd. had embraced this culture as recently seen in their inauguration of the ‘Spirit House’ on their development, Sivana Hills.

A Spirit House usually stands at one to two meters high. It is a symbol of protection and strength and is usually represented by a Hindu or Buddhist deity. It acts as a replica of a temple and is usually preceded by a series of rituals that take place when initially structuring it in an area.

A Buddhist priest, called on by Mr. Jackie Jhangiani, owner and developer of Bangkok Living Development, led the rituals in which both Mr. Jackie and his team followed.

Such rituals included placing blessed items such as wood, coins and gold leaf sheets on the foundation of the Spirit House. A team of 7 people were then required to piece together the parts on the foundation that would eventually turn into the house for Lord Brahma on Sivana Hills.

Offerings of food and sweets were given and prayers took place to pay respect to the newly elevated shrine. Regardless of anyone’s faith, it was truly a magnificent sight to watch.

Property profile on Tropical Living magazine

2008-11-16T00:41:00.000-08:00

October 2008, volume 8, issue 5

A cool breeze dances in the spacious living room of Sivana Hills’ onsite show villa. Light mist shrouds the green hills behind the home, infusing the air with calming, earthy scents. In the distance, Ko Singto, an island shaped like a crouching lion, appears to float in the placid seas off the Hua Hin coastline.

Natural Harmony

It comes as no surprise to learn that the developers of Sivana Hills, Bangkok Living Development, consulted a feng shui expert before breaking ground on the luxury villa project.

Marketing manager Tina Jhangiani explains, “The expert said this is an ideal location, with the hills in the back and the ocean in front. She also confirmed that the configuration of the homes is in line with natural energy patterns, including wind, sunlight, and water.” “The slight elevation of the site ensures the sea view and a year-round breeze, while the wooded hills help provide shade,” adds Alexander Wallace, director of marketing and sales.

The project name, Sivana, also captures this essence. Meaning “Oasis of Enlightenment” in Sanskrit, the initially lofty-sounding name is in actuality, an accurate description of the peace of mind associated with the project’s tranquil environment.

Stylish Sanctuary

Nestled among foothills, golf courses, and fruit plantations, Sivana Hills consists of 42 pool villas located on 31 rai of land. Given the relatively secluded inland location, Alexander says, “We are building our own infrastructure, including roads leading to and within the development, underground electrical wiring, and underground water wells, storage, and treatment systems.” He describes the project concept as, “Luxury tropical living backed by quality.”

Working with Design 103, a premier architectural and interior design practice based in Bangkok, Sivana Hills offers four distinct villas, including one storey and two storey units on plots ranging from 744 to 978 square metres in size.

With 358 to 555 square metres of living space, villas are widely spaced over a verdant landscape comprising of palm varieties, tropical broadleaf plants and flowering trees. Regarding land use, “We were careful to make sure each villa has seclusion and maximum views,” says Tina.

Contemporary Design

The two and three bedroom homes are of a contemporary design, balancing form with function. One unique Hua Hin-inspired architectural feature is the decorative pinnacle crowning the triangular point of the roof gable. Interiors sport clean lines that allow a wide scope of furnishing choices. They easily open up to the exterior, optimizing airflow and light.

This openness is augmented by 3.5 metre high ceilings throughout the villa. Also, living spaces in the Show Villa, are divided into separate structures that are connected by covered walkways, enclosed halls, or open-air garden terraces.

Private swimming pools are situated between each structure and are directly accessible from living rooms or master bedrooms. Flanked by sun decks and outdoor shower areas, the multicoloured tiled pools overlook lush landscaping.
Villas include fully fitted bathrooms in each home. The master bathroom boasts an enclosed, open-air spa with a wooden massage bed and Jacuzzi tub. Carefully arranged plants and stones contribute to the Zen-like quality of the space. Each unit also includes fully equipped kitchens, outdoor breakfast terraces, separate maid’s quarters, covered parking, and ample storage spaces.

Environmentally conscious measures in each home include a rainwater collection system and septic tank to treat water for use in the gardens. Alexander says, “These are just some of our eco-efforts. We are working out a more comprehensive green policy with the contractor that we will use in future projects.”

A Suburban Feel

“Sivana Hills has an excellent community set up with all the necessary amenities for a luxurious hideaway,” says Tina. Shared spaces include a recreational lake and clubhouse at the centre of the development, and facilities include a fitness centre, sauna, library, biking and jogging track, and playground. Safety is ensured by a single entrance gate, controlled access, and
24-hour security.

The project’s proximity to the area’s finest golf courses, beaches, and national parks offers plenty of activities for the entire family. Tina adds, “Khao Tao is the closest beach. With a sheltered bay, the beach is mellow and great for kids, and we provide a free shuttle service to and from Sivana Hills.”

Also, Hua Hin’s long-standing status as a retreat for the Thai royal family has prevented the advent of unruly nightlife, and its popularity as a weekend getaway for affluent Bangkokians has sustained high-end spas, shops, and restaurants.
“We are a bit south of Khao Takiab in Hua Hin so we are away from the crowds, but the town centre is only a ten-minute drive away,” says Alexander.
Further adding to the convenience, Bangkok Hospital plans to operate an internationally accredited healthcare facility in 2010. And in lieu of the two hour drive from Bangkok, Hua Hin can be reached by rail and air.

Market Potential

With its proximity to Bangkok, reputation for safety and cleanliness, and family-friendly surroundings, Hua Hin is attracting more expatriate buyers seeking luxury vacation homes in Thailand. “Phuket and Samui are very expensive now, and we’re seeing demand for a managed villa outside of these areas,” comments Alexander.

Tina says, “Outside of Bangkok, we are heading to overseas road shows and property fairs, specifically targeting buyers in Hong Kong, Singapore, Dubai, China, UK and Scandinavia.”

Alexander continues, “Our villas are priced from 17 to 25 million THB, reflecting the newness of the luxury villa market segment in Hua Hin. Also, we’re not on an island so building costs are lower, and with less initial investment, there’s more potential for capital appreciation.”

Maintaining Value

With other developments sprouting nearby, Alexander remains upbeat, saying, “We’re not worried this area will be overbuilt. Neighbouring projects are in a similar price range so that maintains the value of all the properties in the vicinity.”

Comprehensive onsite services help maintain property value, and the developers have retained a company, Samui Villas and Homes, with reputable villa management experience in Samui and Phuket.

Sivana Hills also provides a concierge service for its residents. From arranging for a maid or cook to facilitating airport pickup and transport services, all needs are covered.

Alexander sums up Sivana Hills’ exclusive living experience, “Just arrive. We’ll take care of the rest.”

Latest progress

2008-11-16T00:15:00.000-08:00

From Sivana Hills: Hua Hin, Thailand

Since 10 Sep 08, I 've captured every bit, as possible, of new progress from different and the same angles, and upload them on to the Construction Progress page. The above image is the latest progress on the project site. It's the show house type A1: Ashiyana that is being constructed right beside the show house type B1: Pavaana.

Seeing these two photos is quite dramatic for me as a photographer. Something has been changed permanently while the past still exists on the photograph I took.

Friends invitation on Facebook

2008-11-15T01:42:00.000-08:00

A couple of weeks ago I saw a massive number of active Facebook users, which the number somehow shows the WOW !! growth of Facebook. I then visited the site, read through it and realized that online social networks nowadays do have the immense power unimaginably; right at your finger tip of a click.

Hundreds of business networks are out there, online! Business opportunities are offered and shared, friendship is established at no cost.

An invitation to everyone to join us on Facebook.

An Oasis of Enlightenment

2008-11-15T00:00:00.001-08:00