Apartments and flats for sale in Phuket

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Apartments for sale in Phuket

Any foreigner can buy flats for sale in Phuket, Thailand. However, there is a limitation as an apartment needs to be in a freehold residential project.

The island of Phuket has traditionally been in high demand among tourists and expats from all over the world. People come here for the warm climate, beautiful scenery and unique local flavor. Today, many new residential complexes are being built on the island with different types of apartments, ranging from small studio units to luxurious penthouses.

Modern apartment buildings are usually equipped with many amenities for a comfortable lifestyle. These include outdoor swimming pools, landscaped gardens with recreation and barbecue areas, sports courts, gyms, children's playrooms, spa centres and many other options.

Apartments in such residential complexes are usually sold as private property to foreigners. However, according to local laws, non-residents can own no more than 49% of the total number of residential units in the building. For this reason, foreigners who want to buy apartments in Phuket, Thailand should book the property they like as quickly as possible.

When buying property in Thailand, you can find secondary and off-plan housing. When purchasing a residence on the secondary market, it is important to carefully study the documents for the property, check the contract, find out all the details about the residential complex, the cost of maintenance, etc. It is quite difficult to do this on your own, therefore, as a rule, such transactions are carried out with a professional broker.

The buyer of an off-plan apartment in Phuket signs a deal directly with the developer. In the early stages of construction, housing is sold at the best price. In most cases, developers offer flexible payment plans in installments without interest. And for those who are ready to pay the full amount at once, a good discount is provided.

Apartment prices in Phuket

The cost of Phuket apartments is slightly higher than in other cities and provinces. The reason for that is the high popularity of the island among tourists who come here throughout the year. Housing prices depend on parameters such as:

  • living space;
  • layout features;
  • availability of amenities and hotel services in the residential complex;
  • views of the sea, forest and mountains from the windows;
  • quality of finishing;
  • availability of furniture, plumbing, panoramic glazing, balcony.

One of the most important criteria that determines the cost of an apartment in Thailand is the location of the residential complex. The most expensive area of the island is the west coast. There are beautiful beaches, golf clubs, shopping malls as well as a number of nature reserves inhabited by elephants and other animals.

The average cost per square meter of real estate on the island varies from $1,860 to $2,810, depending on the location of the residential property.

The starting price of Phuket apartments for sale in a modern residential complex is about $100,000. For this amount, you can buy a small apartment with an area of 39 m², with 1 bedroom in an off-plan complex with additional amenities. There are also more expensive housing options. For example, an apartment in Phuket, Thailand, with 4 bedrooms in an off-plan residential complex is sold at a price of $527,000. The total area of the facility is 138 m².

Investing apartments in Phuket

Buying an apartment in Phuket for investment will help save and increase capital. The resort island attracts a huge number of tourists. After the lifting of quarantine restrictions, the flow of guests is gradually restored, which ensures a stable increase in property prices including rent rates.

Foreign investors can buy apartments in Phuket for resale or rental. In the first case, it is more profitable to purchase housing at the construction stage directly from the developer. By the time the work is completed, such housing increases in price by up to 30%.

Renting out your home is a great option for generating annual passive income. You can immediately buy serviced apartments and make good money from tourists. Those who do not want to rent out housing themselves have the opportunity to contact a management company. The latter can be responsible for various things, from finding a tenant to minor repairs and troubleshooting. Thus, the property owner does not need to permanently stay on the island. Many continue to live in their countries.

Management companies offer different options for an agreement with the owner. This can be a fixed income, when the investor simply receives a profit of 5–8% per annum. There is also a contract option where the total profit received from rental housing in a residential complex is divided between all owners and the management company.

Buying an apartment in Phuket

You can choose an apartment in Phuket matching your goals from a large range of real estate on the island listed on our website using a convenient search on our website. Set our filter and choose property by price, location, area, type of object and many other parameters. To better navigate the market for apartments and villas in Thailand, you can view prices in different currencies.

The main advantage of our website is that in one database we collect offers from different developers and real estate agencies. All companies are verified and trustworthy. This allows you to compare prices and characteristics of the units you like in order to choose the most suitable option for a future purchase. You can also always consult with our team of experts. To do this, you can leave a message in our online contact form.