Buying property in Thailand is a great option for anyone looking for an investment property, a holiday home or a second home.
Phuket is a beautiful island, and it is easy to see why people are drawn here. But because it relies so heavily on tourism, the property sector on the island enjoys a unique dynamic compared with other areas of Thailand. Here in Phuket, real estate prices move independently of other Thailand real estate markets.
There is some amazing property on the island which comes in all shapes and sizes and, of course, prices. For those looking for bargain deals, there is some cheap property for sale in Phuket, such as some freehold condominiums which can start as low as THB 2 million. On the other end of the scale, the Phuket luxury real estate market offers spectacular pool villas selling for as much as THB 400 million.
When you find that ideal Phuket home for sale, the cost of the land will largely determine the final price you pay. Build quality obviously also impacts the total price, but even with condos the desirability of the land will drive the market value the units.
If the lowest price is your main concern, rather than your proximity to the beach, the best value for money can be found either inland or near Phuket Town. When you can’t see the sea, the price per square metre goes noticeably lower. It is even possible to find some very appealing developments for THB 50,000/m2, or less.
But if you are a real beach bum, or you are considering the rental potential to holiday makers, then you can expect to pay a premium for that. The west coast is where most of the beaches are, and as you approach the coast, expect to see prices reaching THB 100,000/m2.
But if you are looking for Phuket property for sale near the beach, especially those with a sea view, they become even more expensive. This is especially true of sea view luxury homes or villas for sale in Phuket situated in the most popular areas.
Phuket is an island, which means there is a finite supply of land. Scarcity drives all prices higher, and property is no exception. An increasing population combined with limited space for development will always drive prices higher.
Condominium prices range from THB 2 million for budget condos to over THB 50 million for luxury or penthouse condominiums. Resort style condos are some of the most popular with home buyers and investors alike, and these generally range between THB 3 million and THB 15 million depending on the location and the build quality.
Phuket villas come in an equally diverse range of sizes, styles and prices. A home in a low end estate with private pool villas for sale might range from THB 5 million to THB 8 million, while a low density estate offering private pool villas in Phuket can start at a similar range, but go as high as THB 15 million.
As you get closer to Phuket’s beaches or western coastline, you find high end villas, luxury villas and super luxury villas. These can start at THB 20 million, but it is not uncommon to see some very special villas advertised for as much as USD 10 million to 20 million. All luxury pool villas in Phuket rent very well, but especially in the high season.
If you are looking for a property in Phuket as a holiday or second home, it is important to find the area that suits you the best. If you are looking for Phuket investment properties, then anything near beach is generally easier for holiday rentals.