Many foreigners have already managed to buy real estate in Phuket. A large number of foreign investors are currently exploring the possibility of such a takeover, buy condo in phuket. Both are due to the obvious strengths of the region, including:
A popular holiday destination: many people dream of spending a few years or even the rest of their lives in a country with beautiful weather and lower prices. Especially the elderly, digital nomads and entrepreneurs can manage businesses remotely. Leaving their cold homeland to live in a tropical country with a welcoming atmosphere, they often choose Thailand. A liberal immigration policy for foreigners (including the possibility of obtaining an elite Thai visa), a wonderful climate and, of course, stunning beaches are just a few reasons why you should choose this part of Southeast Asia. It remains to choose a specific region. Phuket resorts are among the most popular places. The peninsula in the south-west of the country is known for beautiful weather, beautiful beaches and luxury hotels. Buying a property in Phuket gives pensioners, international businessmen and expats the opportunity to enjoy life in a heavenly place.
A wide selection of new buildings with modern architecture: the Phuket real estate market will definitely appeal to those who want to buy a new villa/apartment with a penchant for real estate with a modern architectural style. If desired, the investor can even order an architectural bureau directly in Thailand and build the villa of his dreams from scratch. Working with a local partner has many advantages, but you should be very careful when choosing counterparties (see below).
Liquidity: Investing in real estate in Phuket is a reasonable step, given the possible resale of the asset in the future. Due to the high demand for housing in local condominiums and villas on the island, owners can easily sell real estate in Phuket to local/foreign investors.
Capital gains: As property prices in Thailand continue to rise despite the corona crisis (albeit somewhat slowed by the announcement of the pandemic and the decline in tourism), investments in the Phuket real estate market offer capital gains from resale. In addition, experts recommend choosing premium-class housing, which, as practice shows, retains a high cost even in a crisis. And real estate in Phuket is no exception. Experts expect prices to rise in the future as the demand for tourist services in general and for holidays in Thailand in particular accumulated over the years of quarantine is realized.
Rental income: Investors should consider making a profit from real estate in Phuket, and not only during resale — renting a villa/apartment for short/long-term rent can become an additional source of income. Also, you won’t have to look for tenants yourself if you hire a local management company. Most local developers offer guaranteed annual returns of up to 7%.