Buying Condominiums in Phuket by:Michiel Van Kets
With its abundance of fine hotels, excellent dining
, exclusive spa retreats, international golf courses, designer shopping, first-class health care, and spectacular nightlife - and so much more, it's no wonder everyone wants to live on the tropical isle of Phuket!Anyone who spends a lot of time here will know it works out a lot cheaper to rent an apartment or condominium rather than paying for hotel rooms everytime you visit, especially if you are here with members of your family. Luxury accommodation on the island isn't too difficult to find and apartments generally come fully furnished with all the facilities you could possibly need - better even than being at home!
Some people visit Phuket every year for a holiday and many of them now are realising the advantages of actually investing in an apartment or condominium of their own. Buying a property gives you the option of always having somewhere to stay and can also bring in a substantial income by letting you rent it out during the rest of the year.
Investing in a small condominium won't cost you the earth and the money you save on hotel bills means you will get some of your investment back, never mind the income that can be achieved renting it out to holidaymakers. If you don't live on the island all year round then it makes more sense to buy a condo rather than a house as the ownership regulations are more in your favour, also they need less work to maintain and this is generally carried out by the management compnay who look after the whole block, thus you don't need to worry about the property when not in the country.
Living in a condo also offers a higher level of security as they are patrolled by security guards and there are always other people around to keep an eye on everything. They provide more opportunity to meet people and be sociable as you get to meet your neighbours either in passing, in the common areas or at the communal pool, fitness centre or other facilities provided on the site. The shared maintenance costs are also attractive for the occasional Phuket visitor who doesn't live all year round in Thailand.
Holidaymakers are demanding luxury serviced condominiums all over the island and want properties that are fully furnished and can provide a high level of luxury. Serviced luxury apartments means that someone comes in to clean the place up on a daily or weekly basis, the communal garden is kept tidy, the pool cleaned, and the garbage is taken away amongst other things.
Buying a condominium in Thailand with a freehold title is one of the easiest types of property to buy as a foreigner. According to the law 51% of the units in a condominium block have to be owned by Thai people, the remaining 49% can then be sold to foreigners. Even if all the foreign condos are gone it's still possible to buy with a 30 year lease that then has the option to be renewed every 30 years.
Depending what your plans are for your sea view condo will steer you towards which area to buy in, if you're looking for a residential area then check out Chalong, Rawai, Nai Harn, Surin and Bang Tao, however if you are more interested in making money from your investment and want to encourage holidaymakers to stay then the prime locations of Patong, Kata and Karon on the south coast will be more attractive.
Condominiums Phuket has one of the fastest growing property markets in the world with a high quantity of first-rate projects being completed by prominent real estate developers. There are height restrictions set on the island and these, along with ecologically aware planning laws guarantee that any developments are not too obtrusive within the surrounding environment.
With holiday rentals increasingly in demand, particularly for high-end quality properties, anyone wanting to invest and looking for a return can be secure that this trend is going to continue to rise. Given the islands infrastructure, exceptional and reasonably priced healthcare, international schools, exciting nightlife, stunning beaches and the international airport along with Thai culture and friendly people, it's a winning combination that gives a feeling of a genuine, relaxed and great place to live.
About the author
Michiel Van Kets writes articles for a Property for Sale Phuket, one of the best online resources for condominium for sale Phuket. Property for Sale Phuket features a handpicked selection of top quality houses, villas and condominium for sale Nai Harn and other areas in Phuket.
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