What Types Of Property Are Available For Purchase In Phuket?
This article aims to classify the different types of properties on the market in order to help purchasers better recognize the possibilities accessible to them while shopping for property for sale in Phuket. While there is a large selection of properties available, the classification is somewhat subjective. Different property types can be difficult to distinguish, and some of them may overlap with others.
A property’s pricing in a certain category may also appear to correlate to a more or less costly classification. As a result, the prices shown below are only for reference.
Phuket’s Low-End Condominiums
Someone looking for a “base” in Phuket could be interested in the low-end condominium market. These are usually smaller and aren’t meant to compete with larger, family-oriented complexes.
The term “low-end” should not be interpreted negatively. For the price, many of these condominiums are well constructed, and the buildings have a surprising attention to detail. “Low-end” refers to properties that are at the lower end of the pricing spectrum. This is mainly due to the fact that they are studios or smaller one-bedroom condos that are not in “premier” beachfront locations.
A low-cost condo, on the other hand, may be close to stores and beaches, and may even be contemporary enough to use as a dwelling or a rental unit. These condominium’s can provide exceptional value for money, especially for foreigners on a budget. On the island, a handful of freehold condominium buildings offer studios and one-bedroom condos for less than THB 2 million.
You can take a look at some of the lower end condominiums for sale in Phuket – Click Here
Apartments in Phuket
Although condominium developments make up the majority of new construction in Phuket, others solely provide apartment ownership. Condos and flats may appear to be the same on the surface, but they are significantly different in terms of construction and regulation.
Apartments are offered on a leasehold basis only, but a freehold condominium offers the foreign buyer permanent ownership of the property. The leasehold on an apartment is limited for 30 years, with the option of extending it for another 30 years.
An apartment may appeal to certain international purchasers because it fulfills or exceeds their needs. However, because the costs and ownership structure are comparable, these should be considered as alternatives to leasehold condominiums.
Phuket’s Bungalow Estates
The word “bungalow” comes from eastern India’s Bengal area (across from the Andaman Sea near Phuket). A Bengali style home was often a tiny one-story building with a veranda. This housing idea is currently employed all over the world, particularly in Thailand, where beach bungalow lodging is commonly referred to as a “beach bungalow.”
Bungalow type residences currently come in a variety of shapes and sizes, with prices ranging from THB 3 million to THB 7 million (sometimes more). There have been a lot of bungalow-style projects in the previous thirty years. Typically, these are found in rural regions or in close proximity to Phuket Town.
Some are modest estate-like communities with clusters of similar-styled homes. In famous tourist destinations, new up-market bungalow projects with sea views and innovative architectural concepts are also available.
Some of these bungalows may be offered for sale to foreigners depending on how the development or group of residences is constructed. The great majority, however, are sold to Thais.
Townhouses or Townhomes in Phuket
In Thailand’s local real estate market, these types of properties are fairly widespread. They are usually located in the suburbs around Phuket Town, although they may also be seen along most of the island’s major roadways.
A townhouse is often a two- or three-story terraced construction. Because they often feature a shop on the ground level and lodging on the upper floor(s), those that front a main road are referred to as “shophouses”. Unfortunately, shophouse constructions in certain regions have gone empty as a result of overdevelopment in the sector over the previous two decades.
Townhouses are a good option for foreign purchasers with Thai wives or families who wish to be closer to built-up, higher-density regions. While costs vary, some recent townhouse projects are quite modern, and prices can start as low as THB 3–4 million. (Luxury townhouses in desirable locations may cost up to THB 30 million.)
Resort Style Condominiums in Phuket
Freehold condominiums account for a significant portion of all foreign property units acquired in Phuket. These mid-to-high-end condos are typically priced around THB 3 million and THB 15 million, depending on condition, area, and floor size, among other factors. They frequently include amenities such as a gym and a common swimming pool.
They also attract buyers searching for an investment opportunity rather than a place to live by guaranteeing a guaranteed income on the unit for the first few years. As a result, many condo owners do not reside in Phuket and just visit on a regular basis.
These projects occasionally feature premium condominiums for sale. In other situations, there are apartments closer to the beach, or even a duplex (or even a penthouse) that provide the owner the sensation of a big villa while still giving them the opportunity to buy the property freehold.
You can take a look at some of the resort style condominiums for sale in Phuket – Click Here
Phuket’s Low and High Density Estate Houses
Housing estates, which are extremely popular among Thais, are generally gated communities situated further inland or in places where land is more available. Houses with three bedrooms and tiny gardens cost between THB 4 million and THB 7 million.
There are now hundreds of estate projects in Phuket, many of which are aimed towards Thailand’s increasing middle class, which includes Westerners with Thai spouses and families. Some projects are in lower-density regions with larger homes and gardens, with prices starting at THB 10 million or more.
Luxury Freehold & Penthouse Condominiums in Phuket
Some real estate developers understand the frustrations that come with not being able to legally own land. They’ve reacted by building premium condominiums that are freehold. These condos have all of the elements necessary for enthusiastic buyers with money to spend, including spectacular sea views, a reputable developer, and competent management (prices can be in excess of THB 50 million).
Some of these large freehold residences have the appearance of a villa, while others are luxury penthouses with the living space of a private villa (with the added bonus of a rooftop garden, terrace and private pool).
Because these luxury condominiums are frequently part of a resort-style complex, they generally include amenities such as a gym, restaurants, and a communal swimming pool. Rental assurances comparable to those listed above may be offered by the developer.
You can take a look at some of the luxury condominiums for sale in Phuket – Click Here
Marina Living in Phuket
Thai Residential categorise these properties as a separate group because they attract a different type of buyer. The properties in these communities range from condominiums to townhouses to villas, and prices vary significantly depending on location, type of home and size. They’re obviously appealing to anyone who has a boat docked in Phuket or appreciates being near the ocean.
But the fact that they are also stylish urban environments, with plenty of facilities, and generally close to international schools may also be appealing. (The Royal Phuket Marina and Boat Lagoon, for example, are practically across the street from the British International School.)
The Royal Phuket Marina also has the “Aquamininium”, a unique and interesting design. This one-of-a-kind design features a premium freehold condominium with direct, private access to a boat dock. This is the only area on the island that you can quickly transition from the shower to the open water.
You can take a look at our best condominium offer at Royal Phuket Marina – Click Here
Buying Villas as a Foreigner in Phuket
Please keep in mind that while a foreigner is able to own a villa outright (the physical “bricks and mortar”), to be able to fully own the freehold of the property will heavily rely on your right to own the land that it is built on. Unfortunately for foreign nationals, this right is only afforded under extreme circumstances.
Estate houses, bungalows, and townhouses are all subject to the same rules. However, if these properties can be legally structured to allow foreign freehold ownership.
Villa Estates in Phuket
These villas are usually situated inland, a few kilometers from the beach, and provide good value for money. They are typically walled-in, nestled away from main highways, and lack remarkable vistas. The layout of these villas often makes great use of available space, with a sophisticated patio area and a private pool in the center of the courtyard.
The materials used may be absolutely acceptable and look nice, but they may be inferior to those used in higher-end villas, depending on the developer.
Anyone looking for a house in the sun could find one of these villas to be a comfortable and inexpensive home, especially if it’s located to beaches, shopping, and restaurants. Some developers provide rental schemes for investors, and prices start as low as THB 7 million. A villa might turn out to be a fantastic long-term investment.
You can take a look at some of the estate villas for sale in Phuket – Click Here
Phuket’s High End Villas
The majority of high-end villas are located near the beach or in tourist districts. They feature somewhat bigger plots of land and floor sizes than villa estates, as well as higher build quality. The level of attention to architectural detail is generally higher.
High-end villas give greater comfort, more room, and better fixtures and fittings for those with a little more money to spend. In the high season, high-end villas are particularly easy to rent, resulting in a significant return on investment. Some developments in this industry even provide rental plans that provide investors with a guaranteed return.
These villas may sell for as little as THB 20 million and can be as high as THB 50 million.
You can take a look at some of the villa estates for sale in Phuket – Click Here
Phuket’s Luxury Villas and Super Luxury Villas
There is no clear line between high-end and luxury villas, however for the sake of this categorization, “luxury villas” shall be those with a price tag of more than THB 50 million. But, aside from the price, what makes them so lavish? They are usually found in the most prestigious neighborhoods, with bigger plots and building spaces.
Spacious rooms, lofty ceilings, contemporary western appliances, and meticulous attention to detail characterize the advanced architectural designs. The bedrooms come complete with high-end fixtures and fittings, with walk in closets and en-suite bathrooms.
The majority of luxury and super-luxury villas are located on beautiful tropical hilltops with breathtaking Andaman Sea views, which are even more stunning after sunset. They have a sundeck, an infinity pool, and an outdoor dining area in their spacious gardens. In a nutshell, these are the ultimate pinnacle of quality and comfort.
Prices seem to start around the THB 50 million region, don’t be shocked if you find luxury villas marketed for USD 10 to 20 million.
You can take a look at some of the luxury villas for sale in Phuket – Click Here
Summary
For potential home owners and investors, Phuket provides a diverse range of property kinds.
Condominiums continue to be the most popular choice for foreign investors in Phuket since they may be owned freehold in the foreigner’s name.
Foreigners that are married to Thai women are allowed to buy any sort of property in their partners name; however, Thailand’s property ownership regulations prohibit foreigners from buying landed property (such as villas) in their own names.
However, it is conceivable for a foreigner to invest in a business and for that firm to buy a villa as a rental corporation, but care must be taken to ensure that everything is properly and legally constructed.
Luxury condominiums or sea view penthouses, on the other hand, remain highly enticing if someone chooses to acquire a residential home with a pool.
