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Developer:New Nordic Group
Location:Ko Samui / South Beach
New Nordic Samui Waterworld will be located on Koh Samui, and will complement our first project in this region - New Nordic Lamai Resorts.
Both projects in Koh Samui will be located in Lamai Beach area, the place popular among western tourists, with good infrastructure for leisure activities and white sand beach.
The project will consist of 4 buildings, 4 floors high each, with plenty of lounge areas, water park themed pools, divided into sections.
As in all of our projects, infrastructure will include shops, restaurants, cafes, bars, massage parlors, etc.
Ownership type - 90 years leasehold.
More detailed information on the price you can find in price lists.
What is Leasehold?
Purchasing leasehold apartments is technically a registration of the exclusive right of long-term lease.
In other words, leasehold is a form of property tenure in which one party buys the right of ownership for a certain period of time.
The right of property, registered in leasehold, can be freely bought and sold.
Thus, leasehold different from freehold, where ownership of the property is not limited in time.
The maximum term of leasehold in Thailand is 90 years (3 times by 30 years).
Terms of the agreement referred to in the contract, are elements of the right of ownership and lease related to each other.
Practically there is no difference between purchasing leasehold or freehold apartments:
- Sales agreement will prescribe leasehold as the form of ownership
- Apartment's purchase price should be fully paid out before the project's construction completion, or paid during the certain period designated by the developer if the building is put in operation
Upon construction completion and putting building in operation (or after full payment of the apartment's purchase price, if the building has already been completed) you get a title deed (Chanot), which confirms your ownership of this property for a specified period, considering that column with ownership type will specify leasehold as the type of ownership.
Advantages of purchasing leasehold apartments
Purchasing leasehold apartments avoids real estate tenure declaration abroad
Though leasehold implies granting you an ownership of the property for a certain period of time, legally, the ultimate owner of the apartment is a real estate developer. Because of this, buying leasehold apartments is not the fact of purchasing the property in full ownership, which makes it possible to get rid of the need to declare the ownership of real estate abroad.
Advantages of purchasing leasehold apartments in New Nordic
1. A lot of living space in completed projects
If you prefer to buy apartments in completed projects, you can buy leasehold apartment.
In most New Nordic projects freehold apartments are sold out before the completion of construction and putting building in operation.
The remaining living space can be and purchased on Thai person/company name or leasehold.
2. Buyback option for leasehold apartments
At New Nordic we offer the buy back option for the leasehold apartments.
In addition to the payment of 9% annual returns for 10 years, we offer buy back option after 10 years of the ownership, in which New Nordic buys an apartment for 100% of its original value.
Those after 10 years of ownership, during which you get 10% annual returns, and return the original value of the apartments, you make a decision: use buy back option, or use it for yourself next 80 years.
This option is perfect if you are looking for an real estate investment and interested in the high ROI.
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New Nordic Group is Norwegian development company that was founded in Pattaya 15 years ago. Understandable terms of cooperation and guaranteed income after the contract is signed – the reasons why foreigners are investing money into New Nordic hotel complex for 15 years. This is what sets New Nordic’s offer apart from standard real estate investments, which start to gain returns only after construction is completed.
At the moment New Nordic operates more than 30 projects in Thailand (Pattaya, Samui, Phuket, Chumphon), as well as projects in Cambodia, Indonesia, and Philipines.
Setting an unprecedented benchmark in the real estate development sector, buyers can choose the following investment option:
1. Terms and conditions.
There are two terms available for which contracts are concluded - 5 and 10 years. Each contract implies extension for another 5 years by the investor's decision. Thus, the period of rental guarantee income varies from 5 to 15 years.
2. The rate of rental guaranteed income is:
· Cambodia - 8%
· Thailand - 8%
· Africa - 8%
· Indonesia (Bali) - 7%
· Latin America - 7%
· Philippines - 6%
The difference in return rate is due to different tax rates for foreigners in the above countries. They vary from 14/15% in Cambodia and Thailand to 25% in the Philippines.
3. The term of the contract is counted from the moment of full payment for the apartment and is not tied to the term of completion of construction.
4. The form of ownership of apartments is Leasehold.
5. At the end of the contract period, if the investor wishes, the apartment can be bought back by New Nordic Group at the purchase price (100% return of the investment amount).
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