Phuket is a tropical island that offers a wide range of amenities, including fine hotels, exquisite dining, spa retreats, golf courses around the world, designer shopping and first-class healthcare. Read more now on Pulse Phuket
Renting an apartment or condo is cheaper than booking a hotel room every time, especially when you’re here with family members. It’s not difficult to find luxury accommodation on the island. Apartments are fully equipped with everything you need, better than at home.
Many people who visit Phuket each year are now realising that they can benefit from owning an apartment or condominium. You can always have a place to stay if you buy a property. It also allows you to earn a lot of money by renting it out the rest of year.
You can get a good return on your investment by renting out a small condo to tourists. It is better to purchase a condominium than a home if you do not live in the island year-round. The ownership regulations will be more favorable to you. Also, condos are easier to maintain, and the maintenance work can be done by the management company.
Condos offer a greater level of security, as they are constantly patrolled by security personnel and other people are present to watch over everything. You can meet more people in a condo as they are patrolled by security guards and there is always someone around to keep an eye on things. Shared maintenance costs can also be attractive to the occasional Phuket visitor, who may not live in Thailand all year.
All over the island, holidaymakers demand luxury serviced condos. They want fully furnished properties and a high standard of luxury. The serviced luxury apartment is a place where someone cleans the place on a regular basis. They also keep the garden tidy, clean the pool, and remove the garbage.
As a foreigner, buying a condominium with a freehold is the easiest type of property you can buy. The law states that 51% of condominium units must be owned by Thais. The remaining 49% may be sold to foreigners. Even if the foreign condos have all been sold, it is still possible to purchase a 30-year lease with the option of renewing every 30 years.
If you want to make money and encourage tourists to stay, then Patong, Kata, and Karon are prime locations on the south shore.
The condominium market in Phuket is one of the most dynamic markets worldwide. Many of the best projects are being developed by the leading real estate developers. Height restrictions are in place on the island, and this along with environmentally-conscious planning laws ensures that developments do not overpower the environment.
Anyone looking to invest in high-end properties and earn a good return on their investment can rest assured that the trend will continue. The islands’ infrastructure, affordable healthcare, international schools and nightlife, beautiful beaches, and international airport, along with Thai culture, make it a great place to live.