Why buy property in Phuket?
Here are the list of reasons that explains why buy property in Phuket, Thailand.
Price Stability and High Returns
Thailand property market provides secure and stable returns for investors. Both in capital gains as well as annual rental returns. The growing property market has become an attractive investment destination for investors worldwide. Any nationality can buy property in Thailand. Thailand values have increased over 300% in the past decade, offering investors lucrative capital gains. Rental returns provide investors with 5-10% annual returns.
Thailand’s property market benefits from lower mortgage debt levels than any other countries as foreign investors cannot secure loans against property and the Thai banks are very conservative with regards to lending, a lot more conservative than their western counterparts. Therefore this leads to great price stability and low risk and a reduced potential of a market bubble.
Thailand offers direct flights from China, The Middle East, Russia, Europe and Australia from its international airports in Bangkok and Phuket. The economy outlook is positive with a government billion dollar infrastructure investment plan which covers rail, roads, air transport as well as ports throughout the country. Thailand is already a destination for medical tourism and boasts good schooling. Phuket has become a hub for health and dental services due to expertise and pricing.
Thailand has very low property taxes. The transfer fee is only 1.1% and this is shared 50% with the developer. This is extremely low for the region. There are no annual property taxes either. This is one of the main reason to buy property in Phuket.
Phuket has some of the worlds finest beaches, white sands, turquoise glittering seas and palm trees, with a lively town. There is something for everybody with all tastes and budgets taken into consideration.
Phuket has a wondering variety of dining and partying options, many excursions such as speedboat trips to the nearby tropical islands or mystical cruises. Phuket has over 30 beaches to choose from. Thai cooking classes, Phuket Spas, visitors can not find a moment to be bored. Phuket is also great for visitors with children, as there are many exciting activities and attractions to keep their active minds and bodies entertained whilst parents relax.