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Buying condominium in Thailand

Considering purchasing condominium in Phuket, Thailand is smart and serve the right way for owners who are looking for easy lock up, maintained, secured and investment purpose.

There is increasing of construction condominium developments in Phuket due to demands of both Thai and Foreigners investors. Price value increases in an average of 6% each year. The owners normally appreciate usage of condominium as holiday home and majority of them launch the property out on rental market while they are away. To serve tourists in Phuket 8 million a year, there is no doubt condominium is stable rental return investment of 7% up to 10% a year. Tenants get more value on service apartment rental with full facilities (kitchen, living room, pool, etc…) than hotels and guesthouse with kind of save budget.

Tip of buying condominium:

-Location: location is always key word of investment. Location Location Location! If you choose the right location, absolutely your investment is perfect. Each location in Phuket proposes different lifestyle, taste, activities which suite to each owners and tenants. You could experience yourself here to match your preferred location. We are experience in Phuket for 15 years, also can provide excellent advice on this key.

-Size: the measurement in Thailand always counts the balcony in the measurement. The buyer can consider correct size which suites the need by minus balcony area out from total if you are a person who focus on this.

-Ownership structures: to save your searching time, it would be great to spend a bit time to understand of ownership structures in Thailand (Foreign Freehold, Leasehold, Thai Freehold and Freehold with Thai Company Limited).

-Maintenance fee: in an average 40-50 baht per sqm per month and practical practice was paid 1 year in advance. You will find some developments charge lower or higher, could up to few factors such as facilities, management team, etc… This amount is for maintained common area monthly and settle monthly bills of common usage.

-Sinking Fund: if you are looking to buy new condominium from the developer, sinking fund is requested. The buyer will just pay this amount one time on the property transferred date. Average is around 500 baht per sqm. Sinking fund will be collected for long run usage such as change pump, new outside painting, ect… All owners will have right to vote on this amount usage.

-Off plan or Ready move in: to observe yourself of timing request if you require to occupy soon or this is not an issue. Some investors decide to go for off plan condominium which can get lower selling price, choose prefer unit position, change interior, etc… Some investors prefer to buy touchable condominium which are more higher price with more comfortable feeling of as seen what they get and observe quality delivered.

-Price: once you can plan your budget, it is useful to narrow down the property search. Phuket properties are various in price ranges depends all many factors (locations, unit size, off-plan or ready to move in, etc…) However, there are also good deals which we could serve you, also with bargain properties. Financing is also available upon your request! (Please send us an email should you require further info of financing).