Phuket property buying 101: A brief guide to purchasing real estate in paradise

Phuket Property Guide

This article is from Thai Residential, a real estate agency specialising in Phuket.   

The popularity of Phuket as a holiday destination has naturally made it a popular place to invest in property.  Whether holiday homes, rental properties or a place to spend retirement, Phuket real estate attracts buyers from every continent.

The island’s natural beauty and incredible weather are obvious lures for any would-be investor, but Phuket’s ability to blend natural splendour with modern amenities also entices many to call Phuket home. But there are also fundamental “dollars and cents” reasons why the Phuket property market remains attractive. 

For starters, land scarcity (it is an island, after all) points to a day when prices will increase simply because there is no more land to develop. This is similar to what we are already seeing in Bangkok’s central business district where a lack of land has caused prices to rise. That is a great long-term prospect for owners, but the ample amount of available land today means scarcity is not yet driving prices.

Confidence in the market remains high, and Phuket offers a dazzling array of projects to suit almost any buyer.  From dedicated rental properties for investors seeking income, to condominium resorts situated in verdant splendour with hillside and jungle views, to stunning penthouse condos with sunset panoramas across the Andaman Sea, there is something for everyone.

The construction standards are also quite high across the board, especially for developments aimed at foreigners.  The main thing a buyer must contend with is finding the best property to suit their individual circumstances.  This is where the right real estate advisor is essential.

Warren Rodrigues, one of the founding partners of Thai Residential in Phuket, explains how his firm approaches this,  “We work in cooperation with the client and it is ultimately the criteria they provide us – the checklist, if you will – that enables us to find the perfect property for them.”

Warren also points out there is another vital criterion buyers should consider:  does your advisor have an ethical code of conduct?

He explains, “As real estate advisors, we must understand the legal complexities of the Thai property market, and we must not only conduct our own due diligence on a property or a project, but we must encourage every client to do their own independent due diligence.  And that process starts with engaging the services of an experienced Phuket lawyer.”

Phuket is a wonderful place to own a property, and it starts with knowing that you have been advised correctly on the property that is right for you.

If you would like to know about Phuket, Thai Residential has a comprehensive Phuket Property Guide where you can learn more. The guide was created with prospective buyers of property in mind who arrive in Phuket with limited knowledge of the laws of Thailand and its property market. 

The Phuket Property Guide from Thai Residential was written in conjunction with two of Phuket’s most established and respected law firms, the guide aims to educate and inform those foreigners contemplating either the purchase of a residential home property or an investment property.