Developing Islands

Phang Nga Bay is a miracle of nature, a special place created by master storytellers. Soaring pinnacles of limestone karsts and beach-rimmed mountainous islands set the scene for a Tolkien inspired folktale that draws many visitors and residents to fall effortlessly en rapture with the surreal beauty and timelessness of the region.

French impressionist Claude Monet was one of the first advocates of en plein air — the style of outdoor painting — and he would have been in his own personal heaven in Phang Nga Bay, where sunrise and sunset turn the surreal into fantasy. With over 100 islands in the bay of Phang Nga, fringed by Phuket, Phang Nga, Krabi and Trang provinces, the region is famed for breathtaking views and diverse natural ecosystems.

Many islands in the bay are waking to the tune of eco-tourism and now attracting this evolving niche market. Tourism trends show rapid growth in the independent travel market which includes those who desire a more personal and luxury experience with nature. Vacation villas are ever more popular in the Andaman region, with many island resorts catering to buyer demand.

Yao Islands

Twenty nine years ago, a French social anthropologist happened upon Koh Yao Noi, a stunning island one-hour equidistant between Phuket and Krabi. Jean Boulbe was so entranced by the Monet-esque views that he bought land and visited on occasions for peaceful picnics. With failing health, Boulbe sold the land to Swiss banker Markus A. Frey. In collaboration with French architect Georges Cortez, a former anthropology student of Boulbe, they designed the environmentally friendly Koyao Island Resort — a collection of 15 discreet, luxury sea view villas.

The Koh Yao duo then independently developed their own distinctive properties: Cortez, a seafront property of four luxury serviced villas — Koyao Bay Pavilions — based on his unique Asian style designs and his signature island villas tailor built for well-heeled European clients. Frey constructed a villa resort now managed by Six Senses and operating as the Hideaway Yao Noi Resort and Spa. Included on Conde Naste Traveller’s UK The Hot List Hotels 2008, the resort’s 56 two and three bedroom pool villa retreats were critiqued as “stylish, innovative and luxurious”.

The island has full infrastructure, including electricity, water, telephone, internet access, a hospital, police station, schools and government offices. Koh Yao Noi, like many other inhabited islands in Phang Nga Bay, is primarily populated by small, peaceful Muslim villages. Many of the 4,000 residents are of Malay ancestry and earn their living from the sea or from rubber plantations that dot the lower reaches of interior mountains. Most island families fish, tap rubber, grow rice or work in an emerging tourism industry in the region.

“The people are some of the warmest people I have ever met. You can still be walking down the road and be asked, if you would like a lift or borrow a bike free of charge,” says Brett Moffitt, Managing Director of PhuketRealEstate.com.

Dealing in land on Koh Yao for over 10 years, Moffitt points out that investment on the islands has kept in pace with more congested destinations like Phuket. “I have seen an increase of over 500 percent in property prices in that time,” he says.

Since 2006, Koh Yao Noi has seen a significant increase of expat investors buying leasehold land to build dream island homes which will serve as vacation properties away from busy careers in Asia, the US and Europe. Several Thai investors are currently planning low-rise, beach front condominium projects on the island. Smaller beach front and bay view plots still sell for under 3 million baht per rai and larger plots can be as little as 1.5m baht per rai. One rai of land equals 1,600 square metres.

World’s Sexiest Island

Voted “World’s Sexiest Island” by Forbes magazine in 2004, Koh Lanta in Krabi province is rimmed by superb white powder beaches and spectacular island views. Low impact tropical resorts are attracting their fair share of villa buyers who, in turn, rent their property to like-minded clients through managed property services or marketed under the umbrella of branded five star resorts.

Franck de Lestapis, general manager of Koh Lanta’s Pimalai Resort and Spa, launched Pimalai Pool Villas in December 2005. The 39 elegantly appointed one, two and three bedroom villas (26 to 36 million baht) with private infinity edge pools are located on the hillside behind the main resort. At 60 metres above sea level, the villas enjoy breathtaking Andaman Sea and tropical jungle views. A member of Small Luxury Hotels of the World, the stunning development was designed by Thailand based Habita Architects with interior design by P49 Design.

“In line with the Pimalai philosophy, a great emphasis has again been placed by the architects to preserve the environment when designing the low rise southern Thai style villa, and this enables the estate to complement the natural setting rather than to compete with it,” says French hotelier de Lestapis. There are just six villas remaining on the market after rapid sales to Hong Kong, UK and European investors.

With the road system now complete on Koh Lanta, the island can be traversed from north to south in just 20 minutes from the vehicle ferry port in the north. Several more villa estates around the island are currently in the planning stages and under initial development. Due to the close proximity of Krabi International Airport on the mainland coupled with the quiet nature of this eco destination, Koh Lanta has a large fan base of European visitors plus full-time and part-time residents from around the globe. Land on Koh Lanta currently sells at 2-8 million baht per rai.

My Island Homes

Closer to Phuket, islands such as Maphrao (Coconut Island), Naka Yai, and Koh Racha Yai, famed for superb diving, are attracting investor interest. Just a kilometer offshore, only five minutes by boat to a public jetty, and minutes to Phuket’s Boat Lagoon and Royal Phuket Marinas, Koh Maphrao offers small-island living with modern infrastructure and facilities close to the doorstep. Coconut Island Village is the resort island’s premiere villa estate and Thailand’s first dedicated water sports resort property offering an upmarket Thai lifestyle and up to 12.6 percent annual rental returns.

Presently, Koh Naka Yai, just 10 minutes off Phuket’s east coast, plays host to just one luxurious fully-serviced, private villa available for short term lease. In a hidden cove around the headland from Koh Naka Retreat, lies the Six Senses Erawan Destination Spa with 61 private, feng shui pool villas embracing themes of Chinese, Indian, Thai and Indonesian architecture. The close proximity to Ao Po pier on the mainland, just 20 minutes from Phuket International Airport, gives this dream island a prospectively attractive future. Several Phuket-based realtors represent beach front land vendors on the island. Currently populated by small fishing villages, Naka has the feel of an island that time forgot.

Exclusive Living

Jumeirah Private Island, just 500 metres off Phuket in Phang Nga Bay, will soon host an ultra exclusive resort including 15 palatial waterfront estates, 38 exquisite residences and seven designer beach villas with surreal views over the bay karsts beyond. Villa owners will enjoy full Jumeirah Resorts management and access to all facilities including 24-hour security. Billed as the Jumeirah flagship Asian resort, the villas offer up to 2,000sqm of air-conditioned living space with sea views or direct access to pristine white sand beaches. Due for completion in the fourth quarter of 2010, Jumeirah Private Island will also be home to an elite mega yacht marina and invitation-only yacht club. Homes are priced from around $2.8 million.

Developer TGR Group Asia is keen to preserve the natural environment during construction of Jumeirah Private Island’s property, resort and marina project. According to sales and marketing director Anthony Franklin, coral and mangrove protection programmes were implemented along with sustainable planning for native flora and fauna species. TGR also limited development to a single storey, with only 25 per cent of each plot converted to air-conditioned space.

“At the heart of the project was a desire to be environmentally friendly,” said Anthony Franklin. “But this isn’t only important to TGR Group – it has become extremely important to buyers.”

Meanwhile, Taj Resorts are currently constructing Taj Exotica Resort and Spa, a managed estate of 100 ocean view villas with restaurants and bars spread across the equivalent of 20 hectares on tropical Koh Lon. Due for opening in December 2009, the resort is just 10 minutes by boat from Chalong Pier in south-eastern Phuket facing Phang Nga Bay. Residents can access the resort by boat, seaplane or helicopter.

“It’s exciting for Phuket because it’s the first time the Taj has ever sold villas,” says Nick Anthony of international luxury property sales company Indigo Real Estate. “They’ve been involved in residential property in Dubai recently, but they’ve never sold villas, so it’s a world first for Phuket”.

If peace, nature and luxury tropical island living are at the top of your wish list, then don’t leave it too long to seal the dream.

Written by Kerrie Hall
Published on Phuket Post – www.phuket-post.com