RESALE. Close to the beautiful beach of Nai Harn, in a peaceful and upscale area on a quiet, traffic-free cul-de-sac. An ideal location with...
- Baths6 Lot Size500 m²
RESALE. Price reduced from THB120M to THB99M! A stunning oceanfront pool villa with an incredible coastal view, curated Asian art and light filled spaces...
- Baths4 Lot Size816.20 m²
RESALE. A charming modern pool villa with wonderful sea views situated above Kata Village overlooking Kata Beach. This contemporary, fully furnished, 4 bedroom pool...
- Baths5 Lot Size487 m²
PRICE REDUCED FROM 82M! A collection of 2 & 3 bedroom luxurious pool villas ideally located just 800 meters from Nai Harn Beach in...
- Baths19 Lot Size1948.34 m²
RESALE. Only 700 meters to stunning Layan Beach, a beautiful spot that is unspoiled, tranquil and never overcrowded. The beach is home to a...
- Baths3 Lot Size304 m²
RESALE. Located along the shores of scenic Bang Tao Bay, Phuket’s most coveted resort address. Situated within the larger Laguna Phuket Destination Resort, and...
- Baths2 Lot Size113 m²
RESALE. A mountainside estate with ocean views overlooking the quiet and quaint Thai village of Kamala on Phuket’s west coast. Kamala Beach is only...
2 months ago
- Floor Area498.37 m²
- Plot Size682.2 m²
RESALE. In a quiet, residential area only 20 minutes walk to Nai Harn Beach. Within walking distance are both local & international restaurants, mini...
3 months ago
- Floor Area150 m²
- Plot Size390 m²
RESALE. PRICE REDUCED FROM THB4.2M TO THB3.8M! Panoramic Sea Views overlooking both Surin and Bang Tao Beach! The Panora Phuket is a luxury resort...
3 months ago
- Floor Area36.23 m²
RESALE. Commanding views of the ocean and of the islands, this modern pool villa built on 2,000 sqm of cultivated tropical garden gives you...
3 months ago
- Floor Area400 m²
- Plot Size2000 m²
Imagine waking up and seeing the peaceful ocean right in front of you… everyday! Imagine being able to walk down to the beach anytime...
4 months ago
- Floor Area31.3 m²
PROMOTIONAL PRICE! A unique ocean view complex located near Layan Beach. A place where refined luxury and solitude co-exists with a developed infrastructure. Large...
4 months ago
- Floor Area35 m²
RESALE. Located in the hills high above the trendy southern neighbourhood of Kata in Phuket, Kata Ocean View is a modern, sea view apartment...
5 months ago
- Floor Area72 m²
Just 600 meters to Surin Beach or an 8 minute walk! So easy to take a pleasant stroll down to the beach and enjoy...
5 months ago
- Floor Area41 m²
Located just a short 200 meters walk to the famous Bang Tao Beach, a 6 km long white sand stretch of beach, with dazzling...
9 months ago
- Floor Area62.5 m²
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.
The Thailand real estate sector has modernised and improved dramatically over the last 20 years, and although condominiums seem to be growing in popularity, the same can be said for the amount of villas for sale in Phuket. These appear to be springing up all over the island and there are now a multitude of Phuket villas for sale in most areas.
Nearly every Phuket real estate agency also offers resale units, which can sometimes be picked up at bargain prices, and these vary in both size, quality and price giving potential buyers an extensive range of options to consider.
For anyone wishing to invest in Phuket real estate, the option of owning a villa may be more appealing than owning a condominium. A detached luxury pool villa is preferable for many discerning buyers because it gives them the dream property in the tropics that they’ve always wanted. In addition to being an ideal residential home, they are also known to generate the best rental income. It is relatively safe to assume that renting your west coast Phuket pool villa throughout the peak season will achieve close to 100% occupancy.
The Phuket villas for sale near the beach seem to get the most attention, but even those inland seem to be popular with holiday makers and can still generate sufficient income to make the good investments.
One of the other attractions for villa owners is that when they are not generating a good rental return during the high season, they can stay in the villa themselves. Having a private pool villa in Phuket near the beach that you can stay in when you want, but which can also make you a tidy sum of money is quite appealing for many people.
At present, there are many cheaper Phuket pool villas being sold for 7 million Baht or sometimes less in excellent locations, close to shops and restaurants. These may be smaller and more compact than some of the luxury villas for sale in Phuket, but in many cases they are still extremely attractive rental properties.
For those looking for a super luxury Phuket home for sale, then there are many estates offering amazing luxury pool villas in Phuket, mostly down the west coast but also a few on the east and northeast coasts. These usually come with perfectly manicured gardens and landscaping, modern western kitchens, quality fixtures and fittings most of these are in prime locations, many with stunning seas views. In fact, Phuket luxury real estate is attracting more and more buyers to the market and demand seems to be adequately meeting supply across this sector.
It is advisable that all buyers of villas in Phuket get the very best legal representation to make sure that they are purchasing the villa in accordance with Thai law. If the buyer is happy to purchase with a leasehold, they need to make sure that the villa can be sold to any future interested parties in the future. If they are purchasing through a Thai Company Limited, then they also need to make sure they are adhering to all the relevant corporate laws of Thailand.
But one thing is certain with the pool villa market, whether foreigners choose leaseholds or Thai Co’s as a means of ownership. If developers keep building them, and as the choice of villas to buy in Phuket keeps increasing, there always seems to be a corresponding number of people to keep buying them.
When choosing real estate in Phuket, if it is primarily as an investment, then it is wise to understand the market and the opportunities available. There is a great selection of Phuket investment properties to choose from. Whether you are seeking a steady rental yield, aiming for capital appreciation, or even both, we have many villas and condos in Phuket that provide attractive investment propositions for buyers.
There are a number of desirable areas where you can invest in Phuket property, but the west coast tends to have more investment properties because most holiday makers want access to the west coast beaches. With their turquoise blue and crystal clear waters in the high season, it is easy to see why.
The resort areas in the west play host to by far the largest number of tourists on the island. So if you are looking for a Phuket vacation property to rent out to holiday makers, the best rental yields tend to be found here. In addition, the occupancy rates are generally higher on the west coast because it attracts people year-round.
For anyone seeking a little more solitude and quiet, the east coast is rapidly growing in popularity. This part of the island also attracts a fair number of tourists, which has led to new resorts being built specifically for those people looking mainly at Phuket investment property. The attractions of the north east are obvious, with resorts boasting stunning views of the islands just off the eastern shore, extending across to the magnificent limestone karst formations of Phang Nga Bay.
Most Phuket condominium resorts offer a freehold condominium title deed, but many also had the foresight of obtaining full hotel licenses, permitting the resort to legally offer short-term rentals to vacationers. Commonly referred to as “condotels,” many are managed by major international hotel brands. This type of arrangement is arguably the best type of investment property in Phuket/Thailand.
There are many types of Phuket property for sale, but if it is purely an investment you seek, then you may want to make sure you are getting the best terms possible.
New developments often offer investors guaranteed returns for the first 3 to 10 years of ownership. These can range from 5% to 10% p.a., and are a major selling point for buyers, who are drawn to the very attractive prospect of their Phuket property generating a fixed percentage return on investment. For anyone interested in a new development, buying off plan (i.e. before construction even commences) can provide further discounts in the purchase price.
In addition to attractive returns and off plan discounts, buyers also benefit from “free” vacations in their condo for a fixed number of days each year, typically allocated between 14 days and 30 days per year, owners sometimes receive longer stays if they choose to holiday during the low season months.
Many people might argue that the best investment property in Phuket is a villa. This is because Phuket villa owners often find that their villas are rented at almost full occupancy throughout the high season (December to April), and certainly at 100% from Christmas through February.
To entice buyers, some developers also offer buy back options, meaning they guarantee they will buy back the condo or villa from you in 5, 10 or sometimes 15 years. Although this is an attractive proposal, buyers should ensure they have a competent lawyer thoroughly examine the language on this contractual agreement.
Whatever deal you choose on a Phuket condo, in our opinion the best Phuket real estate investment you can make is to buy freehold. Sometimes amazing deals can be had on a leasehold, and in some cases a Thai Company set up may be justified to convert a leasehold to a Thai freehold. But for most people, freehold foreign ownership makes far more sense.
There is no disputing that Phuket is an amazing place to buy a property in Thailand. However, if you choose to buy property in Phuket, it pays to make sure you understand the laws and what foreigners can or can’t buy.
Can Foreigners Buy Property in Phuket?
Yes, foreigners can buy property. When you drive around the island you will see many Phuket properties for sale, and you may also look online and see many real estate listings in Thailand, but there are intricacies to understand because depending on where you come from, the laws may be very different to what you ae used to.
The main difference is that there are restrictions on landed property, which essentially means land, villas and houses, so if you have your heart set on a villa purchase, you should try and get sound legal advice before you dive in.
Freehold Condominiums Are the Easiest Way for Foreigners to Buy Property in Phuket, Thailand
Owning a freehold condominium is probably the easiest and most clear cut way for a foreigner to buy real estate in Phuket. The laws of Thailand state that each condominium project can have 51% of the units owned by Thai nationals, whilst the remaining 49% may be owned by foreign nationals.
When you buy a Phuket condominium you are also buying a share of the common area of the resort, or a “fractional interest”. This means the reception area, gardens, car parks, pathways and corridors, as well as including all the facilities on the resort, such as gymnasium and swimming pool.
The reason that many people choose Phuket freehold condos over any other form of ownership is that a condo may be legally and fully owned. The ownership is permanent, until you decide that you would like to sell it on to a new buyer.
In addition, a freehold condominium is easier to pass down to your next of kin, especially if you took the right steps and get the right advice when you purchased the condo unit.
Buying Landed Property Such as Villas and Houses in Phuket
As already mentioned, if you are thinking of buying a new property in Phuket and your dream home is a luxury pool villa, it pays to do some research first.
Thai law states that foreigners are not allowed to own landed property in Thailand. However, they are allowed to own “movable property” such the structure that is built upon the land.
Instead of ownership, the land may be leased in periods not exceeding 30 years. With a well drafted contract, buyers are likely to achieve extensions or renewals after the 30 years expires. Most of the developers offering Phuket villas for sale understand that buyers seek assurances, so they will generally do what they can to assist the buyer in any way they can.
As long as the developer (land owner) agrees, it is common for a “Purchase Option” to be written into the lease contract for the villa, which also allows the buyer to purchase the villa at any time during the lease period as a freehold by setting up a Thai Company or transferring the land ownership to a Thai spouse’s name.
In addition, it makes sense to make sure the lease can be cancelled and renewed for a fresh 30 year period. Otherwise, the value of the lease will diminish as the lease period moves towards expiry. There is a fee for this, but this can be covered by both the seller and the new buyer.
Buying Villas, Houses and Land in Phuket Using a Thai Company Limited
If a foreigner wishes to set up a Thai Company Limited to purchase a villa, house or land, the law states that they may not hold more than 49% of the shares.
It is, however, extremely important today that the company is established legitimately, and is in full compliance with Thai law. Essentially, this means that real Thai shareholders must exist and are not mere nominees. The company must also generate revenue, file balance sheets and pay taxes.
Prescribed Investment and Board of Investment
Wealthy investors may own land through legal exceptions by making a Prescribed Investment or through Thailand’s Board of Investment.
An investor may legally own 1 Rai of land (1,600 m2) by investing at least 40 million Thai Baht into the Thai Government, a State Enterprise, the Bank of Thailand, or any bonds approved by the Ministry of Finance.
A foreign investor may also take advantage of the Investment Promotion Act under The Board of Investment (BOI) which offers incentives to foreign nationals who wish to invest in Thailand. One of these incentives includes the granting of permission to own land in Thailand. The Thai Company may own the land but the company may be controlled by a foreigner.
Buying a Villa in a Thai Spouse’s Name
If you have a Thai spouse and you are looking to buy Thailand real estate, you must understand the laws relating to any house or villa purchase.
Since 1998 it is possible for a Thai wife to purchase a villa, house or land, however, the husband and wife must make a declaration that the funds used for the purchase came from the personal funds of the Thai spouse. This means that the foreign spouse has no rights or cannot make any claims on the property.
Paying Taxes and Fees When Buying Property in Phuket
Just like in most countries around the world, when you purchase a property in Thailand, there will be government taxes and fees to be paid. These will vary depending on the property being sold and how long the property was owned by the seller. But the taxes and fees are very low when compared to other countries in the world and it is normal practice for the taxes and fees to be split equally between the buyer and seller.
Finding a Good Lawyer in Phuket
Many people buy property in Thailand without seeking the assistance of a competent lawyer. This is when problems occur. The right legal representation is essential when looking for real estate in Phuket.
Thai law restricts the type of residence you can buy, and it you don’t find the right lawyer to assist you through the process, you may just waste time looking for the wrong properties for sale in Phuket.
In addition to getting the right counsel and guidance, a competent lawyer will also do the necessary due diligence for you once you have found your ideal property. This includes doing a title search on the property to ensure that the seller is the real owner and that no loans exist against the property you are buying.
There are now more Phuket condos for sale than in any time in the island’s history. One of the reasons that condominiums have been the more popular way for foreigners to buy real estate in Phuket over the last few years is because foreigners are attracted to being able to own condo units with a freehold title. The entire resort, however, may not be sold as freehold to foreign nationals, because Thai law limits this to only 49% of the unit floor space. The remaining 51% of the units must be sold to local Thai nationals.
The main attraction of a condominium for foreigners when buying property in Phuket is that ownership is forever, and is yours to live in or rent out in perpetuity. It remains an asset for as long as you own it, and this only ceases at the point in the future when you decide to sell it on to a new interested buyer.
The main requirement for foreigners to be eligible to own a freehold condo unit in Thailand is for the foreigner to transfer the monies used for purchase into Thailand and to show proof of this. This is done by obtaining a Foreign Exchange Transaction form or FETF from the receiving bank when the money is transferred into Thailand.
The freehold title that you receive, issued by the local Phuket Land Department, also gives you, as the owner, a “fractional interest” in the whole project. This would include a small percentage, depending on the size of your unit, of the gardens, walkways, car park, swimming pool area and even the reception area. This is all known as the common area. This fractional interest you get is also the percentage of voting rights you get in the owners association.
Owners of condos usually have to pay a monthly fee, known as the Common Area Fee or CAM fee to keep the common area in good working order. In addition, owners also have to contribute to a sinking fund, which is held in reserve to cover any major costs required on the development. Unlike the CAM Fee, the sinking fund is usually a one off payment and additional contributions may not be required again for many years in the future.
One more benefit of buying a freehold condominium in Phuket is the ease to pass down the condo unit to family or heirs. There are conflicting laws on this subject, however, the Condominium Act does state that should a person inherit a condominium they must notify the Land Department within 60 days. Failing this, the foreign heir may have to sell the unit within one year of the death of the original owner.
Thailand’s Civil and Commercial Code (CCC), however, suggest that the heir would inherit the right to become the new owner, and this appears to be the more accurate assumption, mainly because the Land Department seems to follow the CCC interpretation more than the Condominium Act interpretation.
However, this is not 100% guaranteed or backed by sufficient case law, so it is advisable for all foreign buyers of condominiums in Thailand to include the names of their heirs on the FETF when transferring the money into Thailand. These additional names then become co-owners of the property which ensures a simple and easy inheritance.
Phuket has an enormous choice of condominiums to offer buyers. Some of the cheap property for sale in Phuket comprises of condominium units away from the west coast where new condos still fetch for as little as 1.5-2 million Baht. But for those looking for luxury homes for sale in Phuket, but who are still determined to own a property as a foreign freehold, then they may be able to find a Phuket condo for sale with a pool. Some of these are ingeniously designed like villas, and although they are more similar to any other pool villa, they are legally structured as condominiums, allowing foreign freehold ownership.
People looking for property may also notice that there are a few Phuket apartments for sale. It is important to understand that an apartment in Thailand has a different legal structure to a condominium. An apartment is only available as a leasehold with a maximum lease period of 30 years, even to a Thai national. Although apartments are not common any more, buyers should educate themselves on the difference. For example, there are many apartments for sale in Phuket’s Patong area, and anyone seeking a solid investment might want to rethink an apartment as one, mainly because apartments can only offer a limited timeframe of possession and may be much harder to sell.
Our advice to buyers is that if you see anything marketed as a Thai apartment for sale, you should question the legal structure of the development before making the purchase.
Dear Warren, As per your request, I have absolutely no problem giving Thai Residential the thumbs up and will happily act as a reference for anyone who might be considering using you to find a property in Thailand. Let me know if I can be of help in the future. Kindest regards, Elizabeth and family, Hong Kong.
The Brown Family
Hi Lily, Thank you for your help. It was all a very pleasant experience and so nice to have spent time with you and really appreciate your efficiency. Everything has gone smoothly so it looks as if we will be around next year and look forward to making the condominium our second home away from home. Many thanks to you, Philippe and Jean, Malaysia/France.
The Lewis Family
Hi Rob, Having spent many laborious hours searching through the internet and speaking to a few different real estate agents in Phuket, we feel that it was an extremely good decision to choose you over all the competition. Having finally decided to buy after decades of visiting the island, it’s a hard choice but you impressed us from the get-go. Thanks also for no “hard-sell” tactics which we have experienced before and we find very off-putting. You are an honest lad and we wish you the best. Giles and Donna Barker, UK/Thailand.
The Johnson Family