The country beckons with its breathtaking nature, mild climate, affordable cost of living, and open and good-natured people. Phuket is a tropical paradise with jungles and mangroves. Both short- and long-term rentals are well sought-after. The development market is believed to be very profitable, and therefore investors can expect excellent return on investment. These areas are definitely worth considering for long-term investment.7% to 11.4%.45%.38.52 and 16.65 respectively. There are great beaches and high-end resorts, while residential and commercial properties are constantly rising in price. Speaking of real estate costs and returns, it is worth mentioning current living expenses. When purchasing residential properties, the average cost per square metre should be taken into account. In general, the costs in the two regions are comparable with each other. Everyone who wants to travel to this country or buy real estate there has them on their must-visit list. There are also no issues with transport accessibility. All of the above aspects should be considered when buying a property. There are a number of other factors to consider when making an investment. For a comprehensive free consultation, we suggest contacting our experts. You can make it come true today.

It all goes wrong when there is a glut of properties on the market with no one willing or able to buy them. That inevitably puts downward pressure on prices. While some developers may borrow to construct new projects, in a buoyant market this is hopefully repaid by sales. Further downward pressure comes if simultaneous macro-economic events in a country result in mass foreclosures, because people could not pay their mortgages. This limits the potential for a boom-bust scenario in the island’s property market. The foreign market is on an even more solid footing. Phuket has a broad range of properties available for the discerning buyer or investors. Even so, some find it amazing that you often find two properties at such extreme ends of the price range located only a short distance from one another. In other words, there really is no bad location. To help understand the impact of the above, let us use an apples for apples comparison.

Sometimes it is only the aesthetic, but sometimes the new-found civic pride among residents leads to brand new houses being built in that area. All of this obviously makes a huge difference to potential buyers, and has a positive knock-on effect for the price of existing properties. Just change it! The official address doesn’t change, so can decide on a new name whenever you like. If you bought a villa, but weren’t necessarily keen on its name, chances are future buyers won’t be either. Studies in most other countries show that accessibility to new transport development programs causes property prices to rise. The same thing continues to happen in Bangkok, as their BTS system expands outward. Phuket is constantly creating new roads, mostly providing access to the centre of the island. Some owners will find that this increases the value of their home. As with any other global real estate market, if you buy at the wrong time, or don’t hold the property long enough, or decide to sell at the completely wrong time, you may not see the profit you would like.

With any property investment, patience is absolutely a virtue. This is really what everyone wants to know. Looking at some simple fundamentals (e.g. supply and demand), there is an increasing population in Thailand, and one which is also growing increasingly wealthy. That is an average of almost one event every two years which had the potential to cause damage to the economy or property market. The demand from foreigners also remains strong, but developers on the island are not building to excess. Global inflationary pressures will only push prices up over the long term. Buyers need to accept that there are key factors that drive real estate no matter where you are in the world. Phuket is becoming one of the world’s most desirable. Let us be very clear: there will be bumps in the road because there always are. Sought after property sectors. The island continues to impress with its ability to change and adapt, offering more and more to new residents. We expect growth to move steadily upward over the next decade with, but still anticipate some bumps in the road along the way. At some stage land availability on the island will reach a tipping point. When that happens property prices will accelerate significantly (especially on the west coast), and you will feel like you bought in on the ground floor.