Phuket has and remains one of the most desired destinations for foreign vacationers in Thailand. After visiting, many want to come back, being impressed by the slow pace of life and amazing weather. Real estate in Thailand is popular for relocation or investment. In the kingdom’s provinces, one can find a large range of offers. The most popular of these are villas and houses in Phuket. The pandemic influenced many people’s mindsets; potential owners prefer to live in a villa in Phuket in comfortable communities.
House prices in Phuket
Affordable prices are one of the reasons expats buy villa in Phuket. Compared to prices of similar property in European resorts, the dramatic difference is eye-catching. Buying villas in Phuket for expats depends on many factors such as the size, number of rooms and bathrooms, and quality of the housing and surrounding landscape. Villas in Phuket for investment and permanent residence that overlook the sea with a swimming pool are typically more expensive than housing that has a shared swimming pool. On average, prices for villas in Phuket can be described as follows:
A villa 100m2 ranges from €100,000;
A villa exceeding 100m2 ranges from €200,0 00and above;
Elite villas from 500m2 range from €1,000,000 and above.
It is worth noting that prices for houses for sale in Phuket, Thailand are dynamic. Prices have been affected by the pandemic and the overall state of the economy. Therefore, offers during this time are more advantageous.
Investment villa in Phuket
Data provided by The Bank of Thailand shows that the cost of villas in Phuket increased by 3%-5% annually during the last decade. Thus, a long-term house investment in Phuket, Thailand can bring a significant surplus even if several years pass between the purchase and reselling. Moreover, renting out villas in Phuket promise even more profitability. There can be three possible ways to gain passive income when you buy villa in Phuket, Thailand:
From 3% and above at annual value capitalization;
20%-30% when buying off-plan property that stably increases after commissioning;
7%-10% from short-term leasing of seaside property with the assistance of fully-licensed managing companies.
When you buy Phuket home, you can choose off-plan real estate or post-commissioned housing. It is important to remember that by law, foreigners can own the building but not the land underneath. However, this does not affect the status and rights of ownership. Expats are not banned from choosing any type of property. Moreover, they can enjoy the pros of long-term rentals and solve any problems with registration or reselling if necessary.
Villas for sale in Phuket
A full scope of real estate in Phuket from developers and agencies is displayed on Thailand-Real.Estate. Prices in euros and dollars are available. Our company specialists will make your dream come true. Fill in the request form on our site and we will reply shortly with advice about property purchase, registration residence permits, obtaining citizenship, etc.