If you’ve been looking to invest in Thailand property then you have probably looked at the Phuket area already. At first glance, investing there might seem like a great idea with all the tourist activity and the many opportunities still available. But you may have your reservations with the whole process and the limitations of buying real estate in Thailand as a foreigner. However, there are many factors that make Phuket a great location to invest in for experienced and new investors. Here are a few reasons why Phuket real estate is still a great investment.
Infrastructure is Always Improving
Great real estate investors buy based on vision and foresight. Those who first visited the island a decade ago will tell you how much it has changed since. The government is spending a lot to improve infrastructure and is working on not only making Phuket but Thailand as a whole, more modern and connected. This makes Phuket a great option for long term investors.
Investing in Real Estate as a Foreigner isn’t as Complicated
While there are limitations here as a foreigner if you want to buy real estate, there are still plenty of opportunities and ways to work around them, especially in Phuket. While you won’t be able to own land in the country, you can still own apartments on a freehold basis.
For instance, you could buy 2 bedroom condo Phuket that was built on leasehold land, and sell the title to someone else whenever you want. Owning prime real estate in Phuket is also great if you want to rent it out during the high season or do some short term renting through Airbnb.
Top Quality Healthcare and Education
Another reason why you should consider investing here is that more people are thinking of actually living here, and a lot of it has to do with the quality of life. The country’s great education system and top of the line healthcare facilities are two reasons why. The government is truly dedicated to education, and families have access to a wide variety of Thai and international schools. Thai hospitals and clinics are also world-class, and their doctors are highly qualified too.
Phuket is also attracting attention from foreign investors, especially the Chinese. Thailand constantly makes the top five for inquiries from Chinese investors and the trend is showing no signs of slowing down. Chinese investors like the region because of proximity and cultural affinities, the value of their currency relative to the baht, and because of growth investment. If you own prime real estate in Phuket, it won’t be long before a Chinese or other foreign investor comes knocking at your door if you ever were to sell it.
As you can see, Phuket is still a gem when it comes to real estate and a sure bet if you can find great property in the area. Make sure that you work with a reputable real estate agent or developer and start looking at some of the investment opportunities in the region.