Azaya's rental income is expected to yield annual returns on investment as well as lucrative capital appreciation over time.
Azaya’s Investment Concept
Azaya Villas in Chiang Mai, Thailand is a unique real estate investment opportunity for those seeking a Thailand villa with the benefits of rental income. Managed by professional developers and an experienced hospitality team to international 5-star standards, Azaya Villas expect good ROI as well as lucrative capital appreciation over time.
Chiang Mai is one of Thailand's most visited cities with record numbers of tourists constantly on the rise. Responding to an increasing demand for 5-star accommodations, several world-class hotels have recently opened in Chiang Mai with many more now under construction. Chiang Mai will soon host a wide selection of 5-star hotels, but until now there have been no options for those seeking to own and let out a luxury residence that will appeal to guests seeking a greater level of privacy and exclusivity. As Chiang Mai's premier luxury residential development, Azaya is strategically positioned as the obvious choice for Chiang Mai's affluent visitor seeking an experience beyond that which can be provided within a hotel's communal environment.
Affluence has been long present in Chiang Mai with the upscale Four Seasons and Mandarin Oriental resorts maintaining good occupancy rates for bungalows that rent for thousands of dollars per day. Azaya provides for a greater level of space, privacy and exclusivity at less than half the price of the resort bungalows. To better understand the current rental market in Chiang Mai, please view our next section below entitled Chiang Mai Accommodations.
Chiang Mai Accommodations
High occupancy rates at Chiang Mai's long standing resorts such as Four Seasons and Sheraton seem to have influenced more hotels to make their presence. During the last several years, several renowned hotels have entered Chiang Mai’s luxury market including Mandarin Oriental, Shangri La, Sofitel, Le Meridian, The Chedi and Dusit's hip D2 Hotel. The near future looks promising with several more big names joining the success.
The research conducted by the aforementioned organizations prior to their expansion is a clear indication that the demand for 5-star accommodations in Chiang Mai outweighs the existing supply. However, despite the overwhelming demand for luxury accommodations, Azaya is the only internationally managed 5-star residences for sale in Chiang Mai.
Azaya stands on its own to capture the exclusive rental market for those seeking private villas that offer a greater level of luxury, space and privacy- all at 50% less than the hotel's bungalow rates. To better understand how we will compete with the nearby hotels, please view our next section below entitled Comparative Rental Properties.
Comparative Rental Properties
Azaya's architecturally stunning design, its emphasis on privacy and its uniqueness as Chiang Mai's premier luxury residences make it hard to compare with any of Chiang Mai's existing accommodations. This being said, however, Chiang Mai does have two other options for 2-bedroom bungalow type rooms:
The Mandarin Oriental
The Four Seasons Resort
Both of these resort’s prices fluctuate depending on seasons and occupancy rates, but typically they rent for several thousands of dollars per day.
Some of the notable differences upon comparison are the fact that the hotel type bungalows have shared common walls and/or small swimming pools and/or small private yards, if any. Azaya, on the other hand, offers spacious homes with large private swimming pools on large plots of land.
Based on this comparison, while similar or higher rates could easily be justified, Azaya focuses on high occupancy rates by offering more for less. While keeping its daily rental prices at 50-65% less than its competition, Azaya estimates good annual ROI as well as lucrative capital appreciation over time.
Chiang Mai's Appeal to Tourists
As Thailand's second largest city, Chiang Mai was recently ranked within the top 10 most livable cities by Asia Week Magazine. Surrounded by mountains, waterfalls and nature reserves, Chiang Mai has long appealed to an affluent and refined audience with interests in art, history, culture and eco-tourism.
Chiang Mai is also becoming a golf destination with 5 major golf courses in the area, as close as 10 minutes from Azaya. Plenty of options exist for those seeking more adventure including jungle trekking, river rafting, bungee jumping, mountain biking and night safaris. Chiang Mai is also a popular weekend destination for many Bangkokians seeking its cooler climate.
The expansion of Chiang Mai's International Airport is making it easily accessible from Asian and European cities. For more information, please see our Q&A section entitled Flights.
While Chiang Mai's property market is just warming up, land values in Chiang Mai have seen consistent growth over the last few years. With the expansion of its international airport, growing numbers of hotels and a solid infrastructure in place, Chiang Mai is well positioned for continued capital appreciation over the years to come.
Azaya is located in the prime upscale district of Mae Rim, just a 25 minute drive from the airport and city center. Mae Rim is also one of Chiang Mai’s most frequented tourist destinations with a myriad of activities and nature reserves.
Northern Thailand's scenic mountains can be seen from every plot at Azaya. The project is also just next door to the Four Seasons Resort and Spa which enhances Azaya’s value and options for dining and spa.
Marketing villas for rent are being conducted through various types of media including advertising, affiliations, travel related agencies, exhibitions, internet and direct mail.
With high season approaching and additional marketing and PR activities now taking place, Azaya expects to reach excellent occupancy rates by high season which is typically October through March.
Azaya is managed by Meridian Management, an expat-led Thai registered company that employs a team of maintenance engineers and hospitality professionals to run daily operations and maintenance.