Types of real estate
Choosing real estate for investment on the island of Phuket in Thailand is a crucial decision for any investor. This is particularly relevant given the significant infrastructure investments planned by the provincial authorities. Phuket's potential is far from being exhausted, and its economic growth remains strong, making it an attractive destination for both foreign and local investors.
Thailand is one of the most affordable and attractive destinations for a comfortable holiday in 2024. One of the highlights is the "Phuket Sandbox" programme, which allows vaccinated tourists to travel freely around the Kingdom after staying in Phuket for just seven days. The No Quarantine policy has been simplified, eliminating the need for PCR tests upon entry. This change has provided a great opportunity for foreigners who were interested in purchasing real estate in Thailand but were previously unable to do so due to quarantine restrictions.
There are many aspects of daily life in Thailand that might surprise a foreigner. If you are considering renting or purchasing property in the country, it’s important to be aware of certain characteristics of Thai homes. Understanding these features can help you avoid uncomfortable situations.
When relocating to Thailand for permanent residence, real estate becomes a crucial consideration. Should you rent or buy? Choose a house or an apartment? If you decide to buy property, selecting the right type is essential.
The most common types of housing in Thailand include condominium apartments, duplexes, townhouses, and detached houses. Each option comes with its own set of advantages and disadvantages. Let's explore the pros and cons of both apartments and houses in detail.
The southern region of Phuket is one of the most desirable areas for living and investing in Thailand. Here, real estate options range from luxury villas and townhouses to more affordable apartments. Many properties offer stunning ocean views, white sand beaches, and the benefit of year-round warm weather and exotic landscapes. In this article, we’ll explore the advantages of investing in real estate in southern Phuket.
In 2024, foreigners will still be able to purchase real estate in Thailand, including condominiums with freehold status. This allows private ownership of individual apartments, while common areas are jointly owned by all residents. It’s important to remember that foreigners cannot own more than 49% of the total units in a condominium complex.
Real estate in Thailand continues to attract significant interest from foreign investors, thanks to the country’s government incentives and stable economic growth. In 2022, most international buyers came from China, the US, the UK, France, and Germany. Resort areas, especially the island of Phuket, are of particular interest. Statistics show that in 2022, foreigners purchased twice as many apartments in Phuket as in 2021. Properties in these popular areas offer a stable rental income, often reaching up to 10% annually in the most lucrative regions.