Why Phuket, Thailand, is a Great Place to Buy Property

The modern world we live in is far more connected than it has been at any other time in history. This has given a lot of people the luxury of being able to choose which country to live in, and an increasing number of them are choosing to move away from their country of birth. There are many reasons for this. Some are seeking to advance their careers, while others look for better places to raise families. Yet more move for a more agreeable lifestyle and climate and cheaper prices. Thailand is a popular destination with those in the latter camp.

Like most countries that attract a lot of expats, Thailand has a handful of destinations where they tend to congregate. One of them is the island of Phuket in the country’s south. Estimates suggest that between 30,000 and 100,000 foreigners are settled there. This article will explore why so many people have chosen to make Phuket their new home. 

Luxurious lifestyle

Phuket is one of Thailand’s top destinations for tourists and vacation homeowners, as well as having a large expat community. There is little doubt that the largest attraction for many is the luxurious lifestyle available to them, often at a much lower cost than it would be back home. 

Thailand is hot all year round and there is plenty of sunshine for large parts of the year. Phuket is the perfect place to enjoy this because it is where many of Thailand’s – and the world’s – best beaches are located. Those who rent or buy villas in Phuket can expect to wake up to the sound of the waves, and because it’s on the West Coast they will enjoy spectacular sunsets too. 

Amenities

As well as its stunning coastlines, Phuket is a bustling destination with many leisure and entertainment options. Malls and international supermarkets sell everything one could need, and the area is renowned for its nightlife.

Income opportunity

Not all tourists heading to Phuket want to stay in a luxury beach resort. If you’re buying a property there for use as a vacation home, or even if you’ve got a spare room available, you can easily earn some rental income. There is always a large demand for places to stay from tourists, expats, and locals.

Investment opportunity

While the pandemic did result in a bump, Phuket’s real estate market has bounced back strongly. It remains a popular destination and demand for land and property is high, but as an island there is only so much available to buy. This makes it likely that the demand will drive prices higher if you ever want to sell in the future. 

Additionally, property prices in Phuket still tend to be lower than those of comparable properties in Western countries. This means you can invest if you have less capital to begin with, or if you have more you can buy multiple properties. 

Conclusion

While the process of buying property in Thailand as a foreigner can be slightly challenging, places like Phuket make it worth the effort whether you’re buying somewhere to live or just looking to make a good investment.