Buying Condos in Phuket: The Ultimate Guide – Tips and insights

 Thailand has become one of the most visited destinations in the world. The country attracts millions of visitors, and most of them spend time in Phuket. According to experts, the number of visitors to Phuket will significantly increase, and as a result, the Phuket real estate market will be flooded by overseas investors. If you are an investor thinking of investing in Phuket real estate, here’s everything you need to know.

Image via Avadina Hills by Anantara

The property market in Phuket

Thailand’s property prices are on the rise; it has been so for the past few years. This is especially true when it comes to Phuket. Phuket receives a high number of tourists, and there’s a new international airport being built. Due to these reasons, the real estate prices in Phuket are higher compared to other regions of Thailand. The Phuket real estate market relies heavily on foreign investors from China and Russia; there’s an increase in the number of Australian and European buyers as well. Some foreigners want to settle down in Phuket, while others are interested in the best villas in Phuket for sale for investment purposes. Phuket has survived through the worst of the economic crisis. Whatever your interests may be, you can rest assured that the real estate market won’t collapse, and that investing here is a lucrative idea.

Find a good lawyer

While looking at the likes of Avadina Hills by Anantara for your next investment, you should also think about hiring a good lawyer. A real estate lawyer would know everything that is there to know about buying property in Thailand. They can protect you against fraud and advise you on how to approach the legal authorities to get things done. While hiring a lawyer is a must, you need to make sure that you hire someone with experience.

Stick to your budget

Of course, you know what your budget is. But what you might not know is that there are hidden costs when it comes to buying property in Phuket. Transfer fees, lawyer fees, taxes, and repair costs should all be included in your budget.

Decide on the area

Phuket Island has many neighbourhoods, and you should decide what neighbourhood you want to live in. If you love the beach, you should consider the coastal area; if you love the nightlife, you should buy property in the town. You should also consider the purpose of buying property here. If it’s for business purposes, you should invest in a highly touristy area. traffic, ambience, development, and your purpose are a few things you should consider when buying property in Phuket.

Work with a real estate agent  

It will be far easier for you to work with a real estate agent than setting out to find a property by yourself. A real estate agent can advise you on what to buy and what to avoid. However, you need to make sure that the agent is trustworthy and experienced.

Go and see the property

Don’t rely on the pictures you see on the internet, or the pictures sent to you by your agent. The property may look good in pictures, but in reality, it might not be what you want. To see that everything is in order, you need to make a trip to Phuket and inspect the property yourself. It’s your big investment, after all!

Take your time

Don’t be in a hurry to buy your property. Buying property in a foreign country involves great risks. So, you need to take your time and conduct proper research before you make the investment. The process is going to take a while, but it’s better to be cautious than make a hasty investment and lose all your money.