The Homa Phuket Town apartments were completed at the end of 2021 and since then the 505-unit building in Phuket is attracting digital nomads to come to live and work.
For those looking for a living situation offering a fully furnished apartment and facilities, such as a pool, gym, restaurant, and co-working spaces, Homa offers community living without the hassle. The one-bedroom apartments are about 350 sq ft, and each comes with a weekly cleaning service offering fresh linens.
Another benefit that is a rarity in Thailand is that tenants can have pets, as most are not allowed in Thai apartments. A maximum of two pets per room are allowed, and there are even pet-friendly common areas around the development.
According to reports, tenants have come from over 40 countries to live in Phuket, and the occupancy of the 505-unit building has averaged above 90 percent recently. This has made the firm double its co-working space to allow for more seats for its tenants to work remotely.
With the rise in demand, Homa aims to grow its portfolio across Thailand to about six or seven apartment buildings. As the government’s focus is on creating jobs in Bangkok and along Thailand’s eastern seaboard, Homa is looking to capitalize and provide a living for the influx of workers.
Affordability is one of the main draws to Homa, as there is a lack of supply of alternative rental housing in the middle bracket. Rates are similar to those of hotels, but those gain the most bang for their buck for leases that are a year and beyond, with prices at 20,000 baht (USD$ 780) a month.
The joint venture between Asia Capital Real Estate (ACRE) and NOON Capital (NOON) combines residential and hospitality and is driven by sustainability, a people-driven approach, affordability, and a tech-enabled experience.
