Press Release – Immediate Release
Golden Emperor Properties is pleased to announce its collaboration with Thailand’s prestigious developer, Sansiri, to launch dcondo Rin, the final phase of the dcondo development in Chiang Mai. dcondo Rin, a low-rise resort-style freehold condominium, is nestled in the premium location of the city. With prices beginning at merely HKD 520K and an attractive rental yield at 6% per annum, dcondo Rin will be highly sought after as a resort home by local and international investors.
Chiang Mai’s tourism boom contributes to a rising property market
Chiang Mai, the capital of Northern Thailand, has prospered under a tourism boom with passenger arrivals increasing by 100% in the previous 5 years. The city welcomed over 10 million visitors from January to August this year, generating over 95 million Baht of revenue and a growth of 4% year on year. Chiang Mai’s tourism sector is the strongest driving force towards its job growth and property market demand. Approximately 57.8% of the tourists to Chiang Mai during the period are of Chinese nationality. Sales remain high due to demand from Thai and Chinese buyers, who often purchase property vacation homes in the city. According to Financial Times Confidential Report 2017, 21.8% of the Chinese investors surveyed owned properties in Chiang Mai, second after Bangkok at 29.3% and 19.5% of the respondents intended to purchase another property in the region.
Chiang Mai’s key role in China’s Belt and Road initiative
As the largest city in Northern Thailand located near the Thai border, Chiang Mai prevails to be a trade and transportation hub within China’s Belt and Road initiative. In 2015, as China’s Chengdu and Chiang Mai became sister cities, a number of Chinese FDI provided young people opportunities within the framework of a comprehensive strategic partnership. Furthermore, China has poured in USD 1.7 million to strengthen its ties with the Mekong region this year and has promised to set up a free-trade zone across the northern Thai-Laos-China border. In the years to come, Chiang Mai is expected to become an e-commerce hub for China’s flagship Belt and Road initiative into the West Asian and European market.
Infrastructure network creates investment potential
With an accelerating tourism sector, the Thai government has prioritized infrastructure initiatives to maintain the rising number of visitors. The Chiang Mai Airport will undergo a USD 335 million revamp by 2022 to become Thailand’s third largest regional airport, raising its passenger-handling capacity to 20 million annually compared to the present capacity of 12 million. Its second airport, The Queen Jammathewi International Airport, located in Lamphun with expected completion in 2023, will accommodate the city’s domestic flights.
A number of transportation systems will connect Chiang Mai to the rest of Thailand and internationally, including the Chiang Mai Light Rail Transit (LRT) and a High- Speed Rail System (HSR), which will link Bangkok and Chiang Mai by 2023 within a few hours. Furthermore, the HSR will link Northern Thailand to the rest of the ASEAN region, including Singapore, Vietnam, Laos and Myanmar as part of China’s Belt and Road initiative. Chiang Mai’s impressive network of infrastructure development is expected to further propel the region’s property market.
In regards to Chiang Mai’s current market trend, Golden Emperor Managing Director, Mr. Terence Chan provides his insights: “Chinese favors Chiang Mai as an investment hotspot and holiday destination as property prices have remained low and can be accessed with a number of direct flights across China. Furthermore, Bangkok Hospital Medical Center is rated as one of the top 10 hospitals in Asia for medical tourism known for its cost efficiency. With the city’s high tourism revenue and plans to develop a smart city in partnership with China, the rental market will soar with new Chinese-invested businesses established and as foreigners flock to the area as their second home. Sansiri’s previous dcondo phases have steadily returned a gross rental yield at 6% per annum. Short term rental yield may have the possibility to reach above 10% per annum as tourism drives the under supplied property market. dcondo Rin is predicted to sell out once it launches and will be the most sought-after piece of investment by Chinese investors due to its exceptional location and investment value.”
A prestigious resort home in Chiang Mai city
dcondo Rin will be the final phase of Sansiri’s dcondo development, hosting a total of 411 studio, 1- bedroom and 2-bedroom units ranging from 301 to 538 square feet. Expected for completion by December 2019 with a projected gross rental yield at 6% per annum, the residence will attract a number of overseas investors as their holiday home.
Influenced by Siamese Lanna architecture, the lobby of the premise features a pointy rooftop, wooden balconies and traditional Thai textiles. Residents at dcondo Rin can also enjoy private access through a gated walkway to Chiang Mai’s largest shopping center, Central Festival. Merely a 3- minute walk away, entertainment and everyday convenience lies at the doorstep of the prestigious dcondo Rin, which also hosts a set of onsite amenities, such as a swimming pool with jacuzzi, lounging area, garden space, gym center, co-working space and co-kitchen space.
Located nearby Chiang Mai’s shopping centers and the country’s most prestigious medical institution, the residence will attract a number of expats and tourists as their resort home. With examples of previous dcondo phases selling out within days, dcondo Rin will be the last golden opportunity to invest into Chiang Mai’s booming property market.
Sansiri is recognized as the leading developer of quality houses, townhouses and apartments and the only full-service real estate developer in Thailand. Sansiri has more than 3,400 employees. Over the past 34 years, more than 300 projects throughout Thailand and a residential project in Kensington, London have been built, all of which emphasize excellent design and livability. Sansiri offers a full range of services, far exceeding traditional developers, including concierge services, real estate management, sales brokers and long-term resort rental. In 2017, the company’s total revenue exceeded US $ 1 billion. www.sansiri.com
About Golden Emperor Properties Inc.
Golden Emperor Properties (HK) Limited is a Hong Kong-based property agency company that offers property investments worldwide to clients in Hong Kong and internationally. Since the establishment of the company, it has accomplished close partnerships with developers from England, Australia, Thailand, Vietnam, Malaysia, Japan and Europe. The company has a team of dedicated sales representatives to provide consultation and services on relevant enquiries for investors, including tax information, buy and sell procedures, payment schedules and etc. www.goldenemperor.com
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