Lersuang Village is located in the municipality of Cherngtalay, on Phuket's West Coast, 10 minutes from Laguna Phuket and ideally located for access to Central Festival, Tesco Lotus, International Hospitals and Schools as well as Phuket's prime beach areas.
The residential development of 217 units comprises of three distinct house types to meet the varying needs of individuals. The community will benefit from facilities such as swimming pool and clubhouse facilities and 24-hour onsite security. It will also be constructed adjacent to Phuket's newest shopping mall, which will include an array of bars, restaurants, and international brand shops as well as a supermarket.
The development is available to purchasers with two ownership methods. Thai Nationals or foreigners with Thai National partners can own the property as Freehold.
Foreign Nationals can secure their purchase with a Leasehold Contract. 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 the Houses are traded in Thai Baht with prices starting from THB 3,499,000 for a two-bedroom Townhouse and rising to THB 7,999,000 for the 3 or 4-bedroom detached house with garden.
The structure of payment schedule for a foreign national is as follows:
A. Reserve the unit with the Non- refundable deposit. The buyer will then receive 2 contracts as follows:
1. Land Lease |
Payable in full on Signing of Contracts
Townhouse = 700,000 THB
Twin House = 1,000,000 THB
Single House = 1,500,000 THB
2. Construction Contract |
This is the total purchase price minus the Land Lease for the relevant House type above. Payable at Construction Milestones as follows:
33.3% on Commencement of Groundwork (less reservation Deposit)
33.3% at Completion of Superstructure
33.3% at Completion of Unit (Handover)
Please remember foreign purchasers will receive 2 contracts one for the lease of the land on which the unit is to be constructed and one for the construction of the unit.
The development is being managed by The Lersuang Group; leading independent developers on the island of Phuket. Lersuang Group Holdings Co, Ltd have been developing apartments and villas in 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 in the municipality of Cherngtalay. Laguna Resort is approximately 2-3 minutes drive away and the beaches of Surin and Bangtao are ideally located less than 10 minutes by car.
How much does it cost? Prices vary depending on the unit type that the customer desires, prices are between 3,499,000 for a townhouse and 7,999,000 for a 3 to4 bedroom detached house with private garden. Please contact
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 a Unit?Once you have made the reservation including the non refundable reservation fee then the developers prepare a draft version of the contract(s), 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.
How do I know when I will pay the next installments?The remaining stage payment 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 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 Lersuang Villages 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 email request being sent. The team can be reached at
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 www.infinityhmg.com .
What are the Methods of Ownership?The Lersuang Village Development is classed as residential project. Thai Nationals are able to purchase the unit as Freehold.
Foreign nationals purchase a Leasehold Contract. 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?Lersuang Village includes a Thai style kitchen, however furniture is an extra. Owners can choose to have a Western Style Kitchen as an optional extra, along with further Air con options and pools etc.
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 Options are competitively priced and an up to date price list is available from the developer. Payment for Options will be billed at the same time that the superstructure is completed on the block that contains your unit. Please note Options 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 so. 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 grassed areas, 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 fee is set by the Management Company who is appointed by the owners. The fees payable for the upkeep of these areas is non-profit making. This guideline is derived from similar developments on the Island that are already operational.
Transferring Funds?For Foreign owners It is important to transfer the funds for your purchase in the correct fashion, this is especially important in Thailand for two reasons. The property 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 property and for outward remittance of funds at a future date if applicable.
These forms are issued on all transactions over USD 20,000 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/House/Apartment in development name (the name of the development block you are buying) and individual 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.
