Phuket is one of the southern provinces of Thailand and also an island. It is 21km wide east to west and 48km long north to South. The climate in Phuket is also very calm and relaxing which makes it a great location to live. It can experience a tropical monsoon; however, the city receives more rainfall which reduces the temperature to an average of 28 0C which is considered to be the optimal temperature for living purpose.
The economy also plays a huge role in the decision-making process of buying a condo in Phuket. Though mining has always been the major source of income, the economy also relies on the rubber tree plantation and tourism. After the damages by the 2004 Tsunami, Phuket has recovered well and is now intensely developed with major attractions and modern amenities. Phuket has also been crowned as one of the world's top 5 retirement destinations by Fortune Magazine. The city is well connected with airports and the railway system along with a wide network of City transportation including bus, tram, and ferry.
The crystal blue ocean and the sandy beaches will also provide you with the chance of a weekend getaway. Simultaneously, you can also hike to the Big Buddha monument to enjoy the scenic landscape of Phuket which is surrounded by water on all sides.
A condominium or as popularly known as a Condo is a living space similar to an apartment but can be independently sold to the tenants or new owners. The whole building structure is divided into several units which are separately owned and are equipped with modern facilities and amenities. Now, having said that, let us have a look at the different aspects of owning a condo in Phuket.
There are different types of apartments available in Phuket and with the increase in real estate prices; the properties around Phuket have become very popular. The property market has also increased in the major cities of Thailand and the cycle of property investment has attracted many foreign investors to buy apartments and condos that will benefit them in the long run. So, before property prices start to increase, you would be advised to buy a property that will offer you a good yield in the future.
There are two types of luxury condos. The ones with international designs like that of Laguna Property and the properties with local designs.
Phuket is a natural beauty and there are many great locations, where you can buy a condo and enjoy your retirement. However, there are some very popular areas which are sought after by foreigners and residents of Phuket. We have listed the top three popular areas in Phuket where you might consider an investment.
Due to the economic reliability of tourism, it is very important for foreigners not to experience expensive prices within Retail and the Restaurant market. You may find many restaurants and shops open all day and will only close late at night when footfall drops off. You will also notice local markets will have on sale a large volume of handmade local product and there are also plenty of tattoo parlors available.
Real Estate For Sale
Real Estate For Rent
Property For Sale