Phuket is not only a premier tourist destination, but an island where you can safely invest in property and see a healthy return on your investment capital.
Having always enjoyed a thriving tourist industry, Phuket is now equally well known for its sold investment opportunities, a market that is enjoying continued success.
Phuket owes its investment success to its established infrastructure and amenities, such as international quality schools and hospitals, excellent communications, such as broadband internet, its beautifully landscapes and beaches and, of course, its all year round climate.
Although there are some restrictions on land ownership, it is still relatively easy to invest in property in Phuket with the help of any one of a large number of lawyers who specialize in foreign land and property ownership.
An increasingly popular property investment opportunity is buying ‘off- plan’ rather than purchasing an existing dwelling. Buying ‘off- plan- typically requires an initial deposit, which is followed by the first stage payment thirty days after the deposit has been placed. During this period it is wise to employ the services of a lawyer, who will vet the contracts before your first stage payment is made.
The following stage payments will be made in accordance to the build contract at various stages of build completion. Investing in property this way gives you the opportunity to make great savings, as apposed to buying a re-sale property, as many of the developers in Phuket wish to attract early buyers who do not require immediate occupation and realize the benefits of pre- completion cash injection. The cost of investing in a property in the later stages of completion is considerably higher than before construction has begun.
By holding on to your property, on completion, you can yield a return on your investment of between 15 – 25% per annum, as well as seeing a very attractive return on your investment should you choose the popular option of letting your property as, either a long term rental or, as a holiday let.
Some developers in Phuket are offering guaranteed returns of up to 8% on your property for periods of up to 5 years. It is hard to imagine banks offering such attractive returns on your investment.
As the popularity of Phuket, both as a tourist destination and, as a sound investment haven continues to increase, there can be no better time to invest in this exciting tropical paradise island.