Phuket, one of the favourite choices of
holiday makers around the world is no more for holiday makers. Wait! But a
significant boom in real estate business says real estate agents. In Thailand,
there is an economic boom in many industries and luxury property investment is
one of the major business in the popular tourist island Phuket Land.
Around 3 million tourists visited the city
every year and last year it was exceeding more in number that it broke the
previous record of tourists arriving in the International Airport. The report
says, even big hotels have opened around 224 private pool villas which shows
the staggering increment in arrival of tourists.
So...taking this into account let’s have a
glance at the possible opportunities and what’s your chance to invest in Phuket
Property.
PhuketApartments As per the civilian law, foreigners
can't own land in Thailand. So, in most cases you will need to buy a
condominium where foreigners are allowed to own 49 % of the society. As a
Foreigner you can purchase in your own name. Plus, you have to prove that the
money for the purchase arrived from abroad by filling out a Tor Tor 3(TT3)
forms prior to transferring the money into our account. No worries, professional
realtors like Exotiq property will help you with this to make sure everything
goes smoothly.
Phuket
house: In most cases, you need to lease a Phuket Home since
you are not allowed to own land in Thailand. The validity of such leases
usually last for 30+30+30 years.
Phuket land: Over the years, the land price
has been increasing in Phuket and therefore you are expected to pay around 5
million baht per rai (1600 sqm) in south Phuket.
As an end note, I would recommend the
easiest way to own property in Thailand is to purchase a condominium. But the
choice is yours!
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