Perhaps you’ve been on holiday to Thailand or backpacked across Asia and spent time in Thailand. Thailand is never forgotten for its climate, wonderful people, food and picture-perfect sandy beaches and indigo seas. Situated in the South East of Asia on the Indochinese peninsula it is surrounded by Malaysia, Cambodia, Laos and Myanmar. With cheap buses and cheap flights, Thailand is a great place to base yourself and explore Asia and if the western culture remains appealing then a quick trip to Perth in Australia isn’t too far away.
Thailand is a fantastic place to have a second home and property remains far lower in price than in other tropical locations. If you live in Europe the downside is the distance from Europe with about 12 hours of flying time, the cost of travel and the jet lag. If you live in Europe Phuket can never be a weekend destination. The minimum time you would want to visit would be 10 days. The other factor to bear in mind is that in the past, Thailand has had political unrest and this continues to simmer under the idyllic tropical sun. It’s a risk many people have been prepared to take.
Of course, property prices in Thailand vary enormously by location. Phuket is the main tourist destination in Thailand and has a wide range of properties, but the average price is significantly higher than many other places in Thailand. Typically, a 2 to 3 bedroom villa close to the coast will start at £250,000. The number goes up as the property gets closer to the sea, increases in size and the build quality and reputation of the developer go up the scoreboard.
Most foreigners buy a villa or apartment which is part of a much larger development. The appeal is all about reassurance. It means you can turn up and immediately be on holiday. There is no need to worry about security and maintaining the garden. Normally a villa or apartment in a shared development will have a shared pool, jacuzzi, gym, cafe area and a dedicated team of gardeners and cleaners. Often there is an external company overseeing the running and maintenance of the whole development. It means you know your property is being maintained and is secure which is important if your main residence is a 12-hour flight away and /or you are renting your holiday house out. Of course, the downside is you pay a premium for property which is part of a well-managed development.
Buying a property in Thailand doesn’t need to be complex, but the process is different to buying a property in Europe. It’s important your agent is able to guide you through the process and recommend lawyers who know the systems and how to protect your interests. At Phuket Luxury Living we are experienced in buying and selling property and are able to provide this complete service.