Why Invest in Phuket Real Estate?
The Popularity of Phuket
Imagine owning a luxurious and modern property in a much sought-after tropical paradise that generates an annual rental return and increases in value over time. If you've considered purchasing a dream property for early retirement, as a holiday home, or even as an investment, Phuket offers a multitude of lifestyle benefits.
Phuket has long been established as the destination of choice for many of today's savvy international leisure travelers. Known for its gentle breezes, year-round perfect weather, luxury hotels and resorts, beautiful beaches, world-class golf courses, and intergenic nightlife, Phuket is now Asia's top resort destination.
Properties in Phuket continue to change hands regularly as International investors increasingly want a piece of paradise. The island is popular with those looking to spend the winter in a warmer climate and return home with a tan. And because Phuket is centrally located within Asia, it’s very accessible being just a few hour's flight from most Asian countries.
Phuket has weathered the storms of the Asian financial crisis, SARS, and a devastating Tsunami and has emerged stronger, safer, and more stylish than ever before, making it one of Southeast Asia's most popular destinations for travel. Many of these travelers have looked into Phuket real estate and now own a holiday home.
The amount of tourists visiting the island continues to grow and with many new property developments being built in Phuket the number of investors and investment opportunities has increased.
Phuket real estate has never had it so good and the property market is booming. Every year Phuket attracts millions of tourists which has created investment opportunities for those wanting to take them. The Island is well known and respected as one of the best places in the world to relax, unwind, and possibly retire.
With sun-drenched beaches and vibrant nightlife, people of all ages are attracted to this tropical paradise. This has helped boost property values and increase prices on Phuket real estate every year since 2005. Currently, many developers are now well vested in Phuket.
Interesting Developments in Phuket
In addition to being a first-class holiday destination, Phuket has a modern and substantial infrastructure in place, which when coupled with its proximity to many of the region's other leading destinations, Phuket is the perfect location for both overseas holidaymakers and shrewd investors.
The days of an undiscovered paradise are long gone and the speculators with a more genuine interest to develop on the back of a robust and maturing infrastructure have found Phuket properties very agreeable.
Among the new developments are many upscale shopping centers. The most notable of these is the Blu Pearl Plaza that will consist of a world-class theme park and a wide variety of upmarket shops and restaurants. The mall is expected to open in 2022 and will be bigger and more impressive than Bangkok’s largest shopping center, Siam Paragon.
This will be part of a collection of large-scale venues. Among these will be a duty-free retail complex, a floating market, and a giant Ferris wheel. Along with the expansion of Phuket's Central Festival which will contain the largest aquarium in Asia. Real estate in Phuket will surely benefit.
Phuket’s International Airport is currently being expanded to accommodate the increasing amount of visitors. The extension is expected to be finished in 2018 and will enable the airport to handle over 12 million passengers per year.
To make it easier to travel around the island, a light-rail train line will be developed. These improvements in infrastructure will be needed to absorb the growth from increasing tourism. The total length of the light-rail line will be about 60 kilometers, starting in the North and connecting the airport and then running through Phuket Town and ending near the Chalong Circle, in the South of the island. The boost that this light rail will give to Phuket’s economy could be very similar to the positive economic effects of Bangkok’s Skytrain.
All of these developments will make Phuket more accommodating and Phuket properties will keep rising. Visitors will be able to enjoy all the benefits that this tropical island has to offer without having to miss out on the shopping opportunities that you’d normally find in the capital city of Bangkok. Real estate in Phuket will become even more desirable.
Phuket is Transforming
Creating upmarket shopping centers is in response to the increase in the number of tourists visiting Phuket. Although tourists generally like to visit the beach, many also like to shop during their holidays.
Offering a high-end shopping experience for these groups can add to their experience and benefit the island. The area in which many of the new malls will be built is centrally located making these new Phuket properties easily accessible.
These new developments will help Phuket possibly tap into a new market and offer more than just beautiful beaches and great nightlife. This brings more investment opportunities for real estate in Phuket and overall should be positive for the Phuket property market.
Real Estate Phuket
The property market in Phuket is one of the fastest-growing in South East Asia, yet it is still to reach its peak, unlike many other sought-after destinations throughout Asia and around the world. This means that there is still huge upside potential for those looking to own a piece of paradise.
With increasing numbers of visitors from all corners of the globe, generating significant rental returns is made possible due to the ever-increasing demand for short and long-term rental property.
Phuket is considered relatively safe when it comes to your money, and long-term returns are very encouraging. Accessibility, location, style, and size are all important when investing in Phuket real estate and Phuket properties.
Entry-level properties in Phuket are not considered inexpensive, and there certainly isn't the mass amount of apartments that Spain built in the seventies and eighties. Investment in Phuket is more up-market.
Some areas of Phuket are becoming more developed and investments in these areas are becoming more costly. However, there are still opportunities. The West Coast of Phuket has seen the most real estate growth over the last 15 years.
Mid-level properties in Phuket are made up mostly of private pool villas. These Phuket properties are usually within a 5 to 10-minute drive from the beach and located in a gated estate. They are tastefully built with tall privacy walls, tropical gardens, and private pools. Many of today's travelers now prefer to stay in villas over hotels and resorts due to the conveniences of a full kitchen, parking, and privacy.
It doesn't matter how nice the swimming pool at your hotel is if it's just too crowded. This is a problem that can be quite common in the high season and may explain the big increase in demand for private pool villas.
High-end properties in Phuket will be very close to the beach. They will include a sea view. This luxury segment can have a broad range in prices depending on location and level of luxury. When it comes to luxury, Phuket is the pinnacle of popularity amongst the luxury traveler so it should be no surprise that Phuket has a magnificent choice of luxury villas.
Phuket has established itself as a global destination, offering a range of investment opportunities from modest to high-end. Phuket properties are comparable to those offered in the Mediterranean and Caribbean.
Using a Realtor
At Phuket Realtor, we provide straightforward advice and from an honest perspective. Having years of experience in the Phuket real estate market we can assure you that you will be guided safely through the process of purchasing a property in Thailand by using our services. We provide everyone an interactive website portal to help with your search.
We would be happy to discuss in more detail our services and why using a Realtor can be extremely helpful when looking to buy or sell a property in Thailand. Give us a call at +66 93 606 0906.