Investment apartments in Phuket
Phuket is located in the southern part of the Kingdom of Thailand. Phuket resort includes the island of the same name, and more than three dozen smaller islands in the Andaman Sea. For foreigners, this is one of the most popular holiday destinations in Asia. Many non-residents in the country are considering real estate in Thailand for investment. The pricing policy of the region is affordable and makes it possible for foreigners and nationals of other countries to purchase housing at attractive prices. Flats in Phuket can be found both on the coast and inland.
Apartments’ prices in Phuket
One of the advantages of the province is the affordable prices. The cost of apartments in Phuket varies depending on the distance from the airport, the main attractions, and the level of infrastructure development. Studio-flats for sale in Phuket can be purchased for $50,000. As for the residential units on the beachfront, the prices are as follows:
- studios ‒ $70,000;
- multi-bedroom apartments ‒ $250,000 or more;
- townhouses with sea view ‒ $450,000;
- a house with a separate territory ‒ from $600,000 to $700,000.
It is important to remember that the prices of apartments in Phuket for investment and permanent residence depend on demand, and demand has been affected by the global COVID-19 pandemic. The border closures forced real estate agencies in Thailand to reduce prices, but they will change as the situation improves.
Apartments for sale in Phuket
There are two forms of property ownership available to foreigners in the Kingdom: long-term lease (leasehold) and full ownership (freehold). According to the law, foreigners can not buy a plot of land if they buy flats in Phuket or a house, the land is leased and the lease is extended up to 90 years. This approach does not limit the owner, as the property can also be sold or inherited. But in general, foreign buyers prefer to invest in apartments in Phuket and not spend time on extending the lease. The owner cannot apply for Thai citizenship but has the right to obtain a residence permit under the investment program in the country.
Buy an apartment in Phuket, Thailand
Flats for sale in Thailand can be purchased as primary and secondary properties. A foreigner can buy an apartment in Phuket as an individual or a legal entity. But in the latter case, it is necessary to start and conduct business in the country. The real estate acquisition process includes the traditional stages of:
- housing selection;
- preparation of the required documents;
- signing of the contract and payment for real estate;
- title registration.
Buying an apartment in Phuket, Thailand
Thailand-Real.Estate will help you choose and buy the property that meets your needs. The site publishes offers from developers and local real estate agencies. The catalog contains the cost of an apartment in Phuket and prices in euros and dollars. Specialists will help you choose housing for permanent residence or investment.