Acquiring Property in Phuket
The options are endless when it comes to Phuket property because Phuket is an island that has a well-established ‘something for everybody’ property market. Investing in property in Phuket can be a rewarding as well as pleasurable experience. Picture perfect beaches and leisure activities to suit the young and old as well as the low cost of living all add to the islands desirability.
Phuket is Thailand’s wealthiest province and offers a high degree of protection and investment from the central government. Properties values in Phuket remained strong even after the Asian tsunami and the environmentally friendly planning laws and height restrictions will ensure Phuket property values will remain strong. Unlike other areas of Thailand Phuket benefits from a very high standard of build quality thanks to the international nature of the building industry. Many reputable companies thrive here under the management of overseas professionals and a reliable Thai work force.
Phuket is a well-established island; its potential was recognized back in the 80’s by wealthy Bangkok business men who saw the opportunities the island had to offer and invested in commercial, retail, resort and business enterprises. Today the focus is largely on residential investments for second homes and retirement homes.
Phuket is home to many part time residents who use the island as a base and commute to countries such as Singapore and Hong Kong to work, an easy trip thanks to some very attractive properties that are in easy reach of Phuket’s international airport.
Although entry level investment into acquiring property in Phuket is by no means cheap the availability of older style homes, in need of some renovation, offer a affordable option. There is a good choice of properties in both remote and residential areas and the Thai family values and respect for elders makes Phuket a wonderful place to bring up a family. Phuket offers fantastic opportunities for secluded developments as well as well-established condominium developments and increasingly desired villa style accommodation in fitting with the idea of tropical living.
Investment in Phuket is set to continue as Europeans and more recently Russians and investors from the Middle East recognize its investment value and lifestyle opportunities. Phuket’s well established infrastructure, year round climate and global location ensure that this island has a very solid and exciting future.