Infinity Heights a luxury Apartment development located on the hills overlooking the Surin Beach Peninsula, one of the most sought after residential addresses in Phuket. Just moments away from the World famous Amanpuri resort and the Laguna resort gateway and it s Golf Course. With stunning views over both the Ocean and lush sub tropical forests, Infinity Heights provides owners with a home that truly is your Oasis in Paradise. Within 25 minutes driving distance of the Phuket International Airport, and International Shopping Malls and Schools and Hospitals as well as the busy nightlife areas of the Island.
The 12 buildings will contain 81 Luxury residences, comprising of two and three bedroom units as well as 27 ‘Penthouse’ units with expansive roof terraces, complete with pools, perfect for relaxation or entertaining guests. High Quality Construction material and the choice of crafted finishing’s sourced locally and internationally will ensure that Infinity Heights owners have a truly discerning place to call home.
The development is available to purchasers as Leasehold. The period of the Lease is 30 Years with two further renewable periods built in thereby offering a lease term of 30+30+30 Years. We also build within the Leasehold contracts the right for the owner to convert to Freehold should a change in the current law allow this during any period of the lease term.
All of our Apartments are traded in Thai baht with prices starting from 13,450,000THB and rising to 35,000,000THB. This allows our customers to pay in any Foreign currency they desire from anywhere in the World that when converted into Thai baht equals the Thai baht amount of the contract.
We have two convenient options to make the purchase of the unit as flexible as possible to different buyers needs:
Option A: Standard payment Terms
Reserve the unit with the Non- refundable deposit.
Upon signing of the contract deposit 30% of the purchase price (minus the deposit already paid).
Deposit 20% once the Ground-works of the block containing your unit are completed.
Deposit 30% once the Superstructure of the block containing your unit is completed.
Deposit 20% balance remaining upon the handover of your unit at completion.
Option B: 5 Year Interest Free Payment Plan
Reserve the unit with the Non- refundable deposit.
Upon signing of the contract deposit 50% of the purchase price (Minus the deposit already paid).
Pay nothing for a further 12 months
The remaining 50% is then divided into 48 Monthly instalments
N.B There is no interest charged for this method.
The development is being managed by The Lersuang Group; leading independent developers on the Island, Lersuang Group Holdings Co, Ltd have been developing Apartments and Villas within Phuket since 2003. The company Head Office is located at 123 /1-5 Bangtao Place, Moo5, Cherngtalay, Thalang, Phuket.
Where is the development located?The resort is located on the West coast of Phuket approximately 25 minutes drive south from the Airport. It is situated on the hillside overlooking Surin Beach.
How Much does it cost?Prices vary depending on the number of bedrooms or unit type, prices for the ground floor 2 bedroom units start at 13,450,000THB and rise to 35,000,000 for the top floor penthouses that give the owner a full Panorama of Surin Beach area and sweeping views over the Layan and Cherngtalay areas. Please for detailed information.
What do I need to do to reserve a unit?In order to secure your reservation you must fill out a reservation form with your agent (if applicable) or at the developers’ office. This document is utilised to prepare your contracts so there are contact detail requirements as well as payment terms and any options that you enter into. Once this is completed you need to pay the reservation fee- this fee is non refundable.
What Happens after I have reserved the Unit?Once you have made the reservation including the non refundable reservation fee then the developers prepare a draft version of the contract, this is usually e-mailed to you and to any legal representative that you appoint for you to comment on. This is usually completed within three working days from reservation.
Any questions or comments that you and your legal counsel may have are sent back to the developer on an ongoing basis for the developer to review.
Once all parties are happy with any queries and questions the final version of the contracts are mailed to the contact address of the purchaser for signing. This is usually within 21 days of reservation.
Once you have signed the contracts you return them to the developer for the authorised signatories to sign and date and they return a copy to you for your records.
In addition to this the relevant stage payment for the contract signing phase of your purchase is due for settlement less the reservation fee that you have already paid.
Do I pay everything at the signing of the Contract?Dependant on the type of payment option you have requested you will only pay a percentage of the purchase price at the time of signing of the contract.
(Example- If you opt for the interest free 5 year payment plan you will deposit 50% of the purchase price on signing of contract, if you opt for standard terms you deposit 30% of the purchase price at signing of contract)
How do I know when I will pay the next instalments?The remaining stage payments timelines are estimated within the payment schedule contained within the contract. For the standard payment terms then the remaining amounts are linked to construction milestones. These Milestones are signed off by the Architect and Contractor as completed and will be available with pictures as well once the invoice is sent to you.
Who do I contact for Information?You can contact your agent, or the developer at any time you desire to request information or advice, we encourage our customers to do this to offer peace of mind to their purchase. All information on contacts is provided within the information packs sent to you with your contracts.
There is a dedicated service support team in place for the Infinity Heights buyers and we encourage all communication to be channelled through them as a one stop shop for the customer. The team attempts to answer all queries within 48 Hours of the E-mail request being sent.The team can be reached on:
What is Leaseback and do I have to enter the Scheme?Leaseback is a scheme where the owner of the property enters into an agreement with our Hotel & Property Management Company to place their unit into a pool of available rental properties. The property is available to the owner to use for a period of weeks during the year and the remaining weeks are sold to non- owners, a percentage of this rent is then paid back to the owner.
It is the decision of the owner to enter the Leaseback scheme, any owner who enters the scheme must purchase the furniture pack from the developer in order to standardise the units. The scheme is for a period of two years at which point the owner has the right to decide whether to opt in or out of the current scheme at that time. Details of the scheme are available from your agent, the developer or the Property Management company directly at www.infinityhmg.com.
What are the Methods of Ownership?The Infinity Heights Development is only available as a Leasehold ownership. Leasehold means that the purchaser agrees to lease the property from the owner for a period of 30 Years with two extensions of 30 years in essence 30+30+30. A clause in the contract allows for the Lessee (the purchaser) to upgrade to Freehold if any change in the law permit for this to happen.
Does the Price Include a Kitchen and Furniture pack?All of the apartments are inclusive of a kitchen, however furniture is an extra. Owners who opt not to enter the Leaseback scheme are free to choose their furniture from us, or any Other Company they desire. Owners who enter the Leaseback must buy the furniture from us. This is so that any units in the Leaseback Programme are ‘standard’.
Prices for the furniture are competitively priced and an up to date price list is available from the developer. Payment for furniture will be billed at the same time that the superstructure is completed on the block that contains your unit. Please note furniture purchased through the developer is detailed within a separate contract to your unit purchase contract.
Do you recommend Lawyers to handle my purchase?We do recommend lawyers for handling the buyers purchase and the list and contact details are available from your agent or developer. We also state that the customer is entirely free to seek any independent legal advice they desire, in fact we welcome the customer doing this. We would always recommend that the purchaser seeks legal advice on their purchase.
For information our lawyer is Olaf Duensing of Mcevilley and Collins in Bangkok.
What Fees are applicable to my purchase?A buyer is responsible for all fees in relation to their purchase which are circa 2-3% in total of the value of the property; these will include Stamp duty, Transfer Fees, and Business tax if applicable. If you sell your property you will be subject to the fees mentioned above that you may pass on to the new buyer. You will also be liable for income tax on the gain on your property; these are at varying rates dependant on the gain and an individual’s personal circumstances. We recommend that the buyer utilise a tax advisor in relation to their circumstances. We have some prepared examples from a Thai advisor for illustrative purposes only; these are available from the developer.
What are the ongoing fees?A management fee is applicable for the upkeep of the common areas, sinking fund, general maintenance for the gardens, upkeep of the pools etc. This is usually referred to as The Management Fee. For guidance this is usually around 45-50THB per square meter per month. The fees payable for the upkeep of these areas is non-profit making. This guideline figure is derived from similar developments on the Island that are already operational.
Transferring Funds?It is important to transfer the funds for your purchase in the correct fashion, this is especially important in Thailand for two reasons. The Unit registration requires evidence that the foreigner has bought the funds into Thailand in foreign currency, and secondly the outward remittances of future funds require the same documentary evidence. This document is called a ‘Foreign exchange transaction form’ or ‘TT3’.
What is a TT3?A TT3 is a form issued by the bank for Foreign exchange transactions; this form is then used for registration of the Unit and for outward remittance of funds at a future date if applicable. These forms are issued on all transactions over 20,000USD or equivalent in other currency. For amounts below this level the remittance forms issued by the bank are utilised as evidence instead
Therefore it is important for the customer to follow a process to ensure that the criteria are met for issuing a TT3. On every invoice that we raise we send the buyer a guide for remitting funds please ensure that you follow the guide.
The customer instructs their bank to remit foreign currency to Thailand in foreign currency this must equal the Thai baht amount on the invoice at relevant exchange rate on the day the funds are sent.
The customer should also instruct their bank to add all charges in relation to the transaction. They should also instruct the bank to place in the text field for the purchase of a Unit in Development Name (the name of the development block you are buying) and Unit Number (your individual unit number)
The receiving bank will then convert the foreign currency upon arrival at the receiving bank in Thailand, the Thai Baht amount received in respect of your purchase will be sent to you by email /and or post with a copy of our official receipt, the receiving bank remittance slip and copy of the TT3 (if all the above criteria are met). We will inform you if you or your bank has made an error in the remittance of funds, such as your bank sends Thai baht from abroad, so that corrective action can be made at the time of the problem occurring.
