Land in Phuket for investment
On the Thailand real estate market, Phuket is called a phoenix that has risen from the ashes. In 2004, this island suffered greatly from the tsunami with almost all of its infrastructure having been destroyed. Thanks to the help of the Thai government and foreign investors, construction companies have managed to fully restore key properties. Shortly thereafter, Phuket regained the title of the country's tourist center and increased the price of its real estate several times over.
After these events, entrepreneurs began to increasingly invest in Phuket sites which have had a positive effect on the island’s economy and the country as a whole. Therefore, the Thai government encourages foreigners to invest in development land for sale in Phuket despite the strict legal restrictions.
Land prices in Phuket
The cost of land in Phuket is influenced by several factors such as location and area. You can get acquainted with the average prices of local real estate in the list below:
- A plot on Bang Tao beach with an area of 12,140 sq m overlooking the sea – USD 6,320,000;
- A plot on Karon Beach with an area of 4,802 sq m - USD 2,963,000;
- A plot on Patong Beach with an area of 4,125 sq m overlooking the sea – USD 3,964,000.
In the catalog of the website, you can find the best land in Phuket with prices in rubles, euros, and dollars.
Buy land in Phuket for investment
The law on land ownership will not allow citizens of other states to buy land in Phuket for investment and construction. Despite this, foreign entrepreneurs are active on the island. To circumvent strict restrictions, investors can:
- Sign a long-term lease agreement. Most often, citizens of other countries apply to the Land Department of Thailand to conclude a land lease agreement for up to 30 years.
- Create a limited liability company. An organization registered in the country can own a land plot on behalf of a foreigner. At the same time, most of the shares (that is, at least 51%) must belong to Thais.
- Invest in real estate at least THB 30,000,000 (about USD 1,000,000). In theory, Thai law allows foreigners who have invested this amount to own land. At the moment, however, only a few have received permission to own property.
Recommendation for foreign clients: one of the most reliable ways to find development land for sale in Phuket for a foreigner is to contact a trusted real estate agency in Thailand.
We will help you buy land in Phuket for investment and construction
Buying land to build houses in Thailand is a great move for both investors and expats. Experts are engaged in searching for the right choice, suitable for all client expectations. Contact them right now and get one step closer to a serene life in picturesque Phuket.