Those who are unfamiliar with the real estate market in Phuket may wonder why to invest in Phuket. Read on to learn about this unique area with abundant natural beauty, sound infrastructure, and significant investment opportunities.
Phuket is undergoing a surge in development from a quiet fishing community to an international-standard residential and vacation destination. To benefit from investment properties, the community must have adequate infrastructure to meet your needs and suit your lifestyle. Choosing when to buy an investment property is just as important as determining where to buy. It’s crucial to make your property investment in an area experiencing a wave of growth and development to benefit. Most mature areas are near the top of the “S” curve, meaning their value will remain the same or begin to decline.
Real estate, especially residential real estate, is an investment that provides excellent returns on income and can provide a continuous income year after year. There are various ways to get into investing in real estate, and preconstruction is one of the fastest-growing with some of the fastest and highest returns. Preconstruction-phase condominiums are among the hottest pieces of preconstruction real estate on the market today. Preconstructed real estate is worth considering as a smart investment due to lower initial prices. Buyers of preconstruction-phase property can make a considerable return on their investment.
Furthermore, by renting out property in Phuket, buyers gain a monthly income. At the end of the term, if the buyer chooses to sell, usually, as is the case in Phuket, the market will have shown great appreciation, so there is a lot of earning potential year after year through the sales of such property. Further options that make Phuket properties worth investing in are rental guarantees and buyback options, which give investors the peace of mind they need.
Phuket Island is located just off Thailand’s southwestern coast and is surrounded by the crystal-clear waters of the Andaman Sea. Roughly the size of Singapore, the island is Thailand’s largest and is connected to the mainland by two bridges. The island’s name is derived from a Malay word meaning “hill,” which is how the island appears from a distance: A majestic emerald vista rising out of the sea. About 70% of Phuket’s area is covered with mountains, stretching from north to south along the western side of the island. Forests, rubber, and palm oil plantations still cover a large part of the island, and a significant area of rainforest and coastline is preserved for its beautiful native flora and fauna. Therefore, as Phuket continues to enjoy development, a large proportion of the island will remain protected and pristine. This also means that there is limited availability of land in Phuket for development.
Tourism has gained strength since the rebuilding after the 2004 Tsunami, and Phuket is now one of the top vacation destinations in the world. Residents of Phuket benefit from access to world-standard healthcare, education, and a high standard of living, making it extremely popular with ex-pats seeking a lifestyle that offers the best of everything. Visitors to Phuket enjoy all the best that Thailand has to offer, with breathtaking scenery, delectable cuisine and diverse activities that include exploring Thai temples and festivals, enjoying the vibrant nightlife, fishing, bicycling, rock climbing, sea kayaking, canoeing, snorkeling, diving, shopping, horse riding and more.
In short, with plenty of appreciation potential, limited availability, excellent infrastructure, a high standard of living for less, and no sign of waning in popularity, Phuket offers excellent short- and long-term property investment opportunities for those wishing to make the most of their money while they get the most out of life.