Date Added:
15/12/2009
For the world’s discerning travellers, nothing carries quite the same prestige as spending a holiday in a luxurious private villa somewhere exotic.
And who can blame them? With such added perks as personal chefs, butlers and drivers at your beck and call as you relax by a private infinity pool in your five-bedroom retreat, that 5-star resort down the beach suddenly pales in comparison.
Villa owners in Europe, the Caribbean and the US have been capitalizing on this mindset for decades, but it is a trend that has only really started to catch on in Thailand in recent years, partially because the country’s high-end villa sales market itself is still in its infancy compared to other global resort markets.
Thailand’s villa rental market is for the most part limited to two areas: Koh Samui and Phuket. Hundreds of travel agencies and rental firms specializing in villas around the world are beginning to take an interest in these two destinations, which has translated into an increase in the number of local firms turning to villa management as a way to offset the recent sales slump that has enveloped the country.
“It’s a trendy market. It’s the next best thing to having a private house,” says Marc Ribail, chief operating officer of villa management firm Samui Villas & Homes (SVH), noting that in the last six months, property sales on the island have been down, so quite a few firms are going into property management. Hence, there are now three or four decent companies that have begun offering villa management among their services, he says.
But unlike most firms, which expanded their services to include rental management under their umbrellas as a means of diversifying, Samui Villas & Homes (SVH) initially set out in 2001 solely as a villa management company, only later entering the sales market to cater to the growing number of clients that wished to purchase a holiday home there. The firm recently announced it’s expanding with a branch in Phuket that will focus on villa management there as well.
Ribail says when the company was created in 2001, it managed only three properties, but things quickly grew from there.
“At the beginning of 2006 we had 25 and now we have nearly 50 so it’s definitely an emerging market,” he says. “In some respects we’re still kind of creating history and track records in Samui. If you look at Phuket, they’ve been doing this for a much longer time, so they have a bench mark they can rely on. We’ve just started making a bench mark now.” |
