Purchasing Apartments In Phuket

Category: Finance, Real Estate.

Many people who visit Phuket annually have even chosen to purchase apartments in Phuket and rent them out the rest of the year when they are not on holiday. Condominiums not as readily available as low star Thai type apartments, but there are some available in Phuket.

Small Phuket apartments or condominiums are a good choice for those who won t be spending much time in their apartment or are not interested in the upkeep of a house, villa or bungalow. Apartments in Phuket are plentiful, so there s sure to be something to suit your taste in terms of design, location and price, size. It s easy to find an apartment rental in Phuket by checking local newspaper listings for the Post and the Gazette. Renting an apartment in Phuket. You can view apartments for rent by going directly to the developers like Patong Harbor View or others. Contracts are usually for long- term rentals of three to six months or more but you can also find apartments for one or two months, or even weekly depending on the season. Apartment rentals can start from a few thousand baht a month for an unfurnished studio all the way up to the tens of thousands for furnished sea view apartment or penthouses in resort style complexes or even hotel.

Of course, apartments in residential parts of the island and without a sea view will be much cheaper. For example, if you are planning on staying long, you will probably want a unit with a kitchen. It s best to decide ahead of time what your needs are and how long you will be staying, as well as your budget. But, if you are only staying for a short- term, you may want to find a place that is fully furnished and caters to a certain level of luxury. You can also rent your own motorbike to avoid this problem if your motorbike skills are expert level to take one Phuket s rugged terrain. If you are not going to hire a motorbike or car, you ll want to rent an apartment within walking distance of a main road so you can catch a tuk tuk or motorbike taxi. Purchasing apartments in Phuket.

If all the freehold apartments available to foreigners have been purchased, you can still lease an apartment for 30 years with two possible 30- year extensions. Foreigners can purchase an apartment or condominium freehold in Phuket if 51 per cent of the units in the building are Thai- owned. This makes apartments an ideal choice for those who want to buy something in Phuket, but are not prepared to deal with setting up a company. Many people also enjoy the social life an apartment complex offers through its common areas and facilities. Additionally, Phuket apartments are more secure and easier to maintain since they don t include gardens. It s fun to stay in an apartment with so many different nationalities and kinds of people under one roof.

The buyers of most of these properties are only permitted a short 30 to 60- day stay each year, which may suit your needs if you only holiday on the island and want a good return on your investment. Apartments in Phuket can range from basic flats to luxurious apartments with full facilities and property management. Prices of apartments can range from a very basic studio apartment for about 2 million baht to nice apartments in Patong and other popular areas for up to 30 million baht.