Today, the world of investments offers numerous alluring options. However, the profitability of an investment greatly depends on the correct choice. In the current world situation, experts consider real estate to be the most stable tool for saving and increasing capital. Property is not affected by most economic fluctuations and political issues. For many years, Phuket in Thailand has remained a beneficial location for buying real estate for permanent living and leasing. Before looking for variants to buy apartments in Phuket for foreigners, it is important to become aware of the benefits obtained by homeowners.
Phuket is a prestigious and demanded destination
Phuket is a big island with a distance to Bangkok of 690 km, 45 minutes by plane or 14 hours by car. Undoubtedly, it is an incredibly beautiful place, but you need to evaluate the distance from the capital and the main airport Suvarnaphum. Moreover, the cost of living on the island – gasoline, and restaurant prices are substantially higher than on the mainland. This is due to the fact that almost all products, building materials, and fuel are delivered from the central and northern parts of the country.
Real estate for foreigners in Phuket
Phuket in Thailand is not only a place for comfortable vacations but also a place where foreigners can get sound profits from their investments. Foreign buyers get the valuable opportunity to resell the property at a higher price or rent it out and receive a monthly income.
Apartments in Phuket are diverse to meet the various needs and budgets of buyers. Here you can easily buy a home depending on the number of family members, desired footage, and design. Annual visitors to Thailand prefer to stay on the island because of many reasons. They prefer to rent entire villas and apartments. Property owners and landlords earn good money from tourists. Besides, foreigners are very likely to buy an inexpensive apartment and come there to rest or live permanently.
Benefits of buying apartments in Phuket
The purchase of residential real estate on the island of Phuket can be a great investment opportunity. If you are looking for promising real estate destinations to invest in, here are several reasons why Phuket should be at the top of your list:
-
Owning a property abroad near the sea.
Having an apartment near the sea in full ownership is always a wise decision. Whether you are going to live permanently on the island or regularly come for vacations, your own property helps to avoid the constant search for hotels or rental housing.
-
Low cost and abundance of options.
Compared with real estate in most coastal cities, Thai property is significantly cheaper. For example, an apartment of 20-30 square meters in a modern residential complex with renovations and furniture will cost about $70,000. The accommodation will be equipped with elevators, a concierge, a swimming pool and its own fitness center on the territory. The apartment will have Internet and cable TV, which are often included in the maintenance costs of the residential complex.
-
The possibility of renting.
Residential property can be rented out and the owner can get a good income from it. If you plan to rent an apartment, it makes sense to sign a contract with a management company so they monitor the condition of the apartment, and pay utility bills and taxes.
Due to the increasing flow of tourists and beneficial conditions for foreign investments, Phuket has evolved into an island with modern infrastructure and well-developed transportation links. Over the past 15 years, the local authorities have introduced multiple dramatic changes.
The infrastructure of Phuket as a resort island really impresses. There are numerous hotels for all tastes and wallets, restaurants, bars, large shopping centers, souvenir stores, grocery and clothing markets, banks, nightclubs, discos, and entertainment venues. And also Phuket is famous for its fantastic and colorful sunsets.
Conclusion
The above-mentioned and numerous other reasons drive the demand for investment-worthy housing developments on the island. The useful web resource Thailand-Real.Estate offers world-class designs and sustainable living concepts set in the island’s most sought-after residential developments. The reasonably priced housing, convenient location of the island, and advanced infrastructure make Phuket not only a profitable place for long-term investment, but a comfortable place to call home.
