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NaMara Co., Ltd. is an SPV of Naruemon International Co., Ltd. formed for the development of NaMara Residences. Naruemon International has many years experience in Thailand and has completed numerous apartment and villa projects across Phuket.
The common area maintenance fee is ฿58 per square meter based on the plot size of the property. This fee has to be paid every month by owners for the upkeep of the common areas of the project. For new residential developments, it is common to pay up to 1-3 years’ common area maintenance fees in advance upon the transfer of the properties' ownership.
For new projects, the buyer pays a one-off lump sum upon transfer of the property from the developer to the buyer. This fund is to be used for major renovations and replacement of equipment when necessary, to ensure the maintenance of the building and the common area. At Namara - The Residences the required payment for the sinking fund is ฿400 per square meter based on the size of the plot size of the property.
Kamala Beach is the closest Beach from Namara - The Residences and it is 2.5 km away.
The building (the bricks and mortar) can be owned by a non-Thai national outright in their name in what is called the house registry which secures ownership indefinitely of the structure.
In Thailand non-Thai nationals cannot own land outright in their name. Land can be controlled through either a Thai Company or a long-term registered lease. The longest registered lease term by Thai law is 30 years and most developers will offer 3 terms for a total of 90 years.
After you have found the right property you have to follow these steps:
Agreement of terms and conditions
Sales and Purchase Agreement
Settlement & Transfer
A 30 year lease period is legally protected under Thai law and ownership cannot be disrupted. It is common for developers to offer an additional two terms of 30 contractually obligating a total of 90 years.
Prior to purchasing a leasehold property it is important to secure a copy of the lease agreement or get further clarity on these three points.
#1 - Who is the lessor? (an individual or a Thai Company) Securing a lease from a Thai Company offers much more security than a private individual.
#2 - Do I have voting rights as a Lessee? (Some lease contracts do not allow lessee to have voting rights)
#3 - Is there a succession clause in the lease agreement that will allow inheritance of the lease?
Thailand has different visas like Spousal Visa, Retirement Visa, Student Visa and Elite Visa - just to name a few options. Each visa has different requirements but they are usually easy to obtain.
Namara - The Residences is located 2190 from 7-Eleven and it can be reached within 8 mins by car.
There are many other shops situated in the area of Namara - The Residences, the 3 closest being:
- 7-Eleven is 2.7 km away (an approx. drive of 9 mins.)
- 7 Eleven is 2.6 km away (an approx. drive of 9 mins.)
- TIM - The local supermarket is 2.6 km away (an approx. drive of 9 mins.)
The surrounding area, where Namara - The Residences is situated, offers a wide variety of restaurants. See the closest of them below:
- round Tower is 250 m away (a walk of about 4 mins.)
- Shrimp prawn and buffet is 750 m away (a walk of about 12 mins.)
- The Secret Kamala (Bar/Restaurant/Guesthouse) is 1.0 km away (approx. 5 mins. by car)
CITYCARE Phuket is the nearest health facility, which is 1.9 km away (you can drive there in 6 mins.) from the project, while the closest schools in the proximity of Namara - The Residences are:
- Kamala Phuket divers is 900 m away (about 14 mins. by foot)
- Shining Stars School is 1.1 km away (an approx. drive of 4 mins.)
- Sanuk- Swedish school Thailand is 1.5 km away (an approx. drive of 6 mins.)
Phuket International Airport is located 28.1 km from Namara - The Residences and it takes about 45 mins. by car or taxi (depending on the traffic) to get there.