World Auction Alliance announced the successful close of the auction for the Land & Sea Villa in Koh Samui in an emailed statement after the April 2, 2023 auction date. According to the company, the sale is pending with a confirmed buyer marking the first successful luxury villa auction in the region.
While the closing price remains undisclosed, the property was valued at ฿113,500,000 THB by Knight Frank, and bids of over $1.8 million USD were seen on the online auction platform prior to the auction’s close.
“This milestone represents a new era in the luxury real estate market in southern Thailand,” said Graham Kretchman, CEO of World Auction Alliance. “We are pleased that we were able to deliver liquidity for the seller on a predictable schedule while allowing the buyer to purchase a highly desirable asset from a willing seller. We look forward to working with more sellers and buyers throughout Thailand.”
The Land & Sea Villa is situated on the pristine Laem Sor beachfront, offering a unique and tranquil living experience. The property features a double-sized oceanfront lot and is designed as a tranquil retreat. The villa comprises three pavilions, which include five bedrooms, six bathrooms, and expansive living spaces with architecture that seamlessly blends traditional Thai style with contemporary design elements, creating an elegant yet comfortable atmosphere. Amenities at the villa include a fully equipped gourmet kitchen and an infinity-edge swimming pool on 48 meters of prime beach frontage. The property is surrounded by a beautifully landscaped garden, creating a serene and secluded oasis for residents and guests.
It is unclear whether the buyer plans to utilize the villa as-is or replace it with new construction.
Land & Sea Villa in Koh Samui was sold at auction with an additional plot of Chanote-titled land and 48 meters of beach frontage
The successful auction of the Land & Sea Villa is a testament to the growing demand for luxury properties in the area and the effectiveness of the auction process for these high-end transactions. Koh Samui is increasingly a hot area for investment. The auction attracted bidders both locally and internationally according to World Auction, leading to a competitive bidding process that resulted in the sale. The success suggests that luxury auctions could become a more common method for selling luxury properties in southern Thailand and beyond.
The auction of the Land & Sea Villa comes amid a resurgence in Thailand’s property market and increasing interest in Koh Samui’s real estate. The growing industrial sector, tourism recovery, and affordable prices have contributed to the strength of the property market in Thailand, attracting foreign investors and buyers from around the world to Bangkok and beyond.
Meanwhile, Koh Samui is emerging as a prime real estate destination in Thailand, with its stunning natural beauty, tropical climate, rich culture, and affordable cost of living. The island is attracting both local and foreign investors seeking a piece of paradise and a profitable investment. Recent developments in the island’s infrastructure, such as the expansion of its international airport, have further boosted its appeal to tourists and property investors alike.
As luxury auctions like the one for the Land & Sea Villa gain popularity and demonstrate success, it will likely become more common for sellers and buyers will turn to this method and World Auction Alliance to facilitate real estate transactions. The advantages of auction-based sales, such as providing liquidity for sellers and offering unique properties to buyers, can make it a compelling choice for the high-end market in Thailand.
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