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Прогресс строительства проекта Samui Waterworld от New Nordic - 20 Сентября 2019. Краткий фото отчет прогресса строительства проекта Samui Waterworld от New Nordic - 20 Сентября 2019.
20.09.2019
Photo report of construction progress of Samui Waterworld project by New Nordic - 20 September 2019.
Прогресс строительства проекта Lamai Resorts от New Nordic - 19 Сентября 2019. Краткий фото отчет прогресса строительства проекта Lamai Resorts от New Nordic - 19 Сентября 2019.
19.09.2019
Photo report of construction progress of Lamai Resorts project by New Nordic - 19 September 2019.
Прогресс строительства проекта Phuket Waterworld от New Nordic - 19 Сентябряя 2019. Краткий фото отчет прогресса строительства проекта Phuket Waterworld от New Nordic - 19 Сентября 2019.
19.09.2019
Photo report of construction progress of Phuket Waterworld project by New Nordic - 19 September 2019.

Apartments with buyback option in New Nordic investment projects

As we mentioned in the main article, New Nordic got formed the group of customers in 2013, who were not interested in New Nordic apartments as the residential property, but rather investments.
The main question was what should the customer do with the apartments after rental guarantee period finishes?
The basic idea of New Nordic sales was selling apartments to people who were ready to pay now and occupy their property later. Therefore between the payment and final handover period, New Nordic was using apartments as the hotel accommodation rewarding the owners with 10% guaranteed annual returns. 
When the further property handover wasn't implied since investor was looking to multiply his returns, New Nordic came up with the new option. 

How does the New Nordic buyback system work:

  1. New Nordic offers guaranteed buyback option for all units purchased as leasehold, disregarding of the annual guarantee/management agreement term. 
  2. New Nordic offers guaranteed buyback option under the following conditions:
    1. Ownership type - only leasehold with 90 years term (3 extensions by 30 years)
    2. Are there any freehold units available with the buyback option?
      At the moment New Nordic doesn't offer such an option.
    3. The moment when New Nordic is buying back your apartments depends only on the type of the investment option you have chosen (rental guarantee period from 3 to 20 years).
    4. The possibility of the early buyback is not guaranteed by new Nordic, therefore can't be prescribed in the agreement. Such conditions are subject of the further discussion between both sides.
    5. Ownership registration - the owner will be prescribed in the title deed (chanot) with the ownership type prescribed as the leasehold. 
    6. Payment conditions:

      Reservation – 50,000 Baht
      Signing the agreement and down payment - 35% during one week.
      The rest of the purchase price can be covered during the whole period of construction with the financing. 
    7. Can customer decline the buyback option and leave apartments for himself?
      Of course. During the remaining period of leasehold, the apartments are yours. After the leasehold period, your ownership rights expire. There are no penalties in case you decline the buyback option.
  3. The buyback price will be calculated with the rate from 105 to 140% of the original purchase price, depending on the previously chosen investment option.  The buyback amount will be paid in the original purchase currency as stated in the sales agreement.  
    This means that during the period from 3 to 20 years you will receive 9% annual returns (around 8,5-8,8% net, considering the condominium monthly management fee - 1 USD per sq.m. per month) and then New Nordic buy back your apartments with the 105 - 140% rate.
  4. How does the buyback process look like?
    You notify New Nordic that you choose to use buyback option 6 months before rental guarantee period expires. New Nordic pays you buyback amount within 6 months after the rental guarantee period expires.
  5. Where does buyback amount is transferred?
    To the customer's Thai bank account or any other bank account, if your apartments are located in the project outside Thailand.