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Investor's Guide

10 Reasons to Buy a Condo in Phuket

10 Reasons to Buy a Condo in Phuket


One of the first things we learn when sourcing information on purchasing a property in Thailand is that there are several ways a non-Thai citizen can invest, for example; through a Thai partner or a Thai Limited Company, by purchasing a lease, or by owning a freehold. According to Thai law, only a condominium can be owned freehold by a non-Thai citizen.

A freehold cannot be owned by a non-Thai citizen in relation to land or a house.

The case of a non-Thai citizen owning a condominium is safeguarded specifically in Thai law under the clear and robust Thailand Condominium Act (1979).

Being able to make protected investments is without a doubt the number one reason why foreign nationals have been successfully investing in property in Thailand for the last 20 years.

Here are 10 reasons why you should consider investing in a condo in Phuket.

1. You Can Purchase A Condo Freehold in Thailand

Ok yes, we have already mentioned this……but it is worth repeating; as a foreign national you can own a condo freehold in your own name in Thailand.

2.Condos in Phuket are Easy to sell

A condo owned under foreign freehold can be sold to other foreigners or Thais.

3.Repatriation of Funds

Proceeds from a condo sale can be sent back to your home country hassle-free.

4.Market Growth

The market of condos in Phuket is expanding rapidly with interest from local and overseas investors. Since 2015, condos have been the preferred property investment vehicle of nationals from China, Hong, and other ASEAN countries, expanding the market further and supporting price growth in Thailand’s number one tourist destination.

5.Investment Return

The rental market is buoyant and some developers offer 5-8% guaranteed rental return for the first 3 years. Factor this into capital growth and you have a very healthy return on your investment.

6.Owning Land or a House can be Problematic

FOR EXAMPLE:
  • Setting up a nominee company to own land is in a legal grey area and the government is rumored to be investigating such companies.
  • The 30 + 30 + 30-year lease agreement is not supported by law and has no legal precedent. In reality, you can only be guaranteed a 30-year lease.

7.Security

Have peace of mind that your property is safe and secure. All modern condo developments have key card access, security staff, and cameras throughout.

8.Fully Equipped

Swimming pools, Jacuzzis, gyms, libraries, common areas under one roof with shops and amenities usually within walking distance.

9.Hassle-free Furniture

Condos come with basic furniture and complete furniture packages are also usually available.

10.Perfect Holiday Home

As well as a return on your money, condos in Phuket are investments you can enjoy. Simply block the dates of your own holiday with your rental program.

Pulse Real Estate is a customer-focused real estate agency in Phuket specializing in the sales of condos in Phuket. We provide free consultation and advice and guide our customers every step of the way through the purchasing process.

5 Mistakes to Avoid When Purchasing a Property in Thailand

5 Mistakes to Avoid When Purchasing a Property in Thailand


Buying property in Thailand is an exciting prospect that brings both financial and lifestyle rewards for foreigners. But as with any other big investment you’ll want to do as much as you can to avoid making costly mistakes.

To help you avoid common pitfalls and minimize the potential risks of buying property in Thailand, we've laid out the top 5 mistakes buyers make when buying property in Phuket.

1. No Title Search

A title search is a comprehensive examination of a property’s history. It dates back to the property’s first owner(s) and it’s recorded at the provincial Land Department. As such, a thorough title search will ensure you’re getting what you’re paying for.

What will the title search tell you?

  • If the seller has a clear and legal title to the land
  • If there are any mortgages, leases, creditor right of ownership (liens), or other charges against the property
  • Information on zoning, and environmental/planning codes

Why is a title search important?

Clear and Legal Title – You certainly wouldn’t buy a bike or car without the necessary ownership paperwork. So it only makes sense to verify that the seller has a clear and legal title for the property.

Mortgages, Liens, Encumbrances – A purchaser’s right to use the land can be affected by these issues. It is important to note that a valid contract to lease property or land won’t get terminated by transfer of ownership.

Zoning, Environmental, and Planning Codes – When buying land in Thailand it is extremely important to verify the area's zoning, environmental, and planning codes, especially in beachfront areas which may have a few different restrictions.

For further reading, we recommend our article on Property and Land Title Deeds and Can Foreigners Own Property Legally in Thailand?

2. Buying Without a Lawyer

We advise clients against purchasing property in Thailand without the assistance of a lawyer. While some purchases are more straightforward, even they deserve the attention to legal details only a good lawyer can provide.

Why do you need a lawyer?

  • You are doing a business deal in a foreign country with a different language, legal system, and culture
  • As a foreigner, you are almost certainly unfamiliar with Thai contracts 
  • The lawyer will guide you through the process and ensure you fully understand it
  • To safeguard your investment
  • Whatever knowledge and experience you think you have, a legal expert has more
  • They provide peace of mind, resulting in less anxiety 

Things to consider when hiring a lawyer

  • How much of their legal experience is in real estate/contract law
  • Look into independent reviews of the law firm
  • Legal fees can vary significantly, so shop around

You can read more in our Should I Use a Lawyer When Purchasing Property in Thailand article. We can also provide a list of lawyers who come recommended by our previous clients.

3. Using the Wrong Real Estate Agent

Real estate agents in Thailand don’t need a license to do their job, nor do they need much of anything else. You only need to reach out to a few agencies for this to become painfully clear. 

While communication delays and a general lack of professionalism might be annoyances, more important issues can come up. Agents might be new to Phuket and/or real estate in Thailand, or worse, they’re unscrupulous and will tell you whatever they think you want to hear in order to buy the property. 

Questions to ask in order to find a good real estate agent

  • How long have they’ve been working in real estate?
  • How long have they been living in Phuket?
  • What area of real estate do they specialize in? 
  • How long has their agency been operating and is it a registered company in Thailand?
  • Is it possible to speak to any former clients?
  • Do they have any public reviews from independent sources? 

Pulse Real Estate is one of Phuket’s most well-established property agencies.In fact, every member of our staff has been living in Phuket for over 10 years, and almost everyone has more than 5 years’ experience working in Phuket property. As such, we work as a team to ensure the highest client satisfaction. Contact us and find out more about how we can help you with your property purchase.

4. Buying into a Mismanaged Project

This one can be seen upon first inspection--usually right at the entrance of the property. Common ground upkeep at the time of your visit will leave little to the imagination and management companies change, you can expect the same quality, or lack thereof, moving forward. 

What can lead to mismanagement of a property?

  • Lack of knowledge, expertise, and awareness of the local conditions
  • Taking on developments beyond the company’s capabilities
  • Insufficient cashflow 
  • Greed 

How can this affect me as the buyer?

When investing in off-plan property you are looking to be able to move in as soon as possible or get a timely return on your investment. Mismanaged developments can lead to:

  • Delays in completion or even non-completion
  • Issues that affect the design and the overall aesthetics of the final development
  • Use of inadequate building materials
  • Issues that arise after completion, such as design faults or broken fixtures and fittings

Which property developer should I choose?

You need to carry out due diligence on any developer you are interested to purchase from by looking at their previous projects and financial standing. If information is hard to find, ask your agent who will share their inside knowledge, or put a good lawyer on retainer to find this information.

Pros and cons of choosing a larger more established development company

Pros:

  • Most established development companies are publicly listed with generally higher levels of capital
  • Their transactions are more transparent and simply have more credibility in general
  • You know they have the knowledge, means, and experience to ensure a timely completion of developments
  • Fewer commercial risks

Cons:

  • Their prices tend to be fixed and non-negotiable.
  • There is generally less flexibility when it comes to design, layout, and customization
  • Less personalized attention

Pros and cons of choosing a new, smaller development company?

Pros:

  • More appealing rates 
  • More flexibility in catering to individual needs
  • Usually more eager to please

Cons:

  • May have limited capabilities/less experience
  • May have staff that isn’t as professional 

As we said at the beginning of this segment, the choice is ultimately yours, and only what you feel comfortable with matters. Keep in mind though, this is an area where the expertise of an estate agent can come in handy, as they will probably have knowledge of developers active in their area.

5. Making A Decision on The Basis Of Price Alone

Everyone wants to know we’re getting a good deal, but when assessing price there are several variables to take into consideration.

You get what you pay for, and you may regret buying a property simply because it was cheap. Oftentimes, curiously cheap condos are constructed using low-quality materials and unskilled labor. 

Other issues may have to do more with the surrounding area. Perhaps there’s a nightclub in the area that plays loud music until 2 am. The area may be prone to flooding, or the owner may have heard of a nearby construction project that is starting soon.

On the flip side of that, it’s often the case where a property slightly above a budget you’re most comfortable with offers the best value. For a small percentage just over what you were prepared to pay, you might get great maintenance, easy access to transport routes, a corner unit, or other added value items that make the property more convenient, and easier to sell later on.

What can I do to assess whether I am getting value for money?

Research properties in the surrounding area. That will give you a good perspective on the current market situation. This is another good reason to find a knowledgeable agent. They will know what’s currently happening in the local market, or they have good resources to find data they don’t currently have.

Summary

  • Do a title search
  • Conduct due diligence through a lawyer
  • Find a good real estate agent
  • Ensure good property management
  • Research market value
Buying off-plan property in Thailand

Buying off-plan property in Thailand


Buying off-plan property in Thailand is one of the best ways to maximize your return on property investment. Because you’re purchasing an unfinished villa or condo, developers offer lower prices with better incentives. Most off-plan projects on Phuket also offer favorable rental returns for those who aren’t buying for residential purposes. 

According to Asia Property HQ

"The idea is to secure the property at a lower price, and as the surrounding area develops, sell it for a higher price in few years. This makes sense for investors who want to invest in profitable real estate markets around the world but can’t afford high housing prices."

Of course, buying off-plan isn’t for everyone. Some people need to see exactly what they’re buying, and others don’t feel comfortable with the associated risks. However, modern renderings and 3D videos help buyers envision completed projects, and buyers can limit risk exposure through due diligence aided by a good lawyer.

For a list of recommended options, take a look at our off-plan property in Phuket. Some options are nearly finished, while others are just getting started. Either way, these properties have excellent potential for short or long-term returns. 

Now, let’s break ground on what steps you should take to maximize your ROI, minimize risks, and turn your property into a hassle-free moneymaker.

Benefits of Buying Off-Plan Property in Thailand

Lower Prices: current data reflects off-plan property is sold as low as 25-30% lower than completed projects

Larger Discounts: even factoring the initial lower prices, developers often give further discounts so long as you are one of the first buyers

Low Deposit Amounts: Reservation agreements often require very small financial commitments. Even something as low as US$ 3,500 – 5,000 is enough to reserve a property.

Staged Payments: Good developers lay out their payment schedules in accordance with benchmark progress points.

Proactive Customizations: Developers often allow for a variety of customization options you can choose before installation.

Better Plots/Units: Early commitments mean being able to choose the best location rather than settling for what’s left

Freebees: It is not uncommon for developers to offer free upgrades to furniture packages, free foreign freehold status, or luxury items such as tablets, motorbikes etc. We’ve even seen entire condo giveaways for high-end purchases.

Potential Drawbacks

Project Cancellation: This is the biggest risk by far and it has happened in the past. Your best line of defense here is thorough due diligence and carefully investigating the developer as well as the builder. 

Project Delays: It happens everywhere, and Thailand is no different. Luckily there are often penalties the developer must pay to incentivize them to keep the project progressing on time. 

No Physical Product: In the absence of a show unit, buyers must rely on images and videos in order to envision their property. 

No Immediate Access: Buying off-plan is a waiting game and not suitable for anyone looking to start earning rental returns right away

Construction Hassles: If you get in early on a villa project, your unit might be finished well before other units in the project. Unless you plan on waiting it out, be prepared for noise, power/water supply cuts, and other inconveniences related to construction

In order to minimize the downsides and safeguard your investment, we’d be happy to answer all your questions and give a personal consultation free of charge or obligations.

Off Plan Property Due Diligence

The best way to minimize risk exposure is thorough due diligence. This may or may not require a lawyer, but we do suggest investing in one. Here are some things to consider during the process.

Research the developer. Past performance is the best indicator of future performance so investigate previous projects the developer has been involved in. Did they complete things on time and without issues? Also, look at their previous projects to help you get a feel for the developer’s style, taste, and overall aesthetics.

Research the construction company. Looking at the developer isn’t enough. They may have had success in the past, but they may also be using a different construction firm and they too need to be investigated before committing financially.

Require clear terms in the contract. Be sure terms are clear throughout the contract. Do not settle for ambiguous wording or other agreements that can be open to interpretation. Again, a lawyer will be best suited for this.

Look into title deeds and licenses. This may seem obvious, but don’t forget to ensure the developer has the necessary title, construction permits, etc. 

Compare prices. If you really want to ensure you’re getting a good deal, do your own investigations into the costs and value of the property. How do these compare with those given to you by the developer?

Further Detail on Off Plan Property Contracts

The Basics 

Timescales – Details of the start and completion date should be clearly indicated.

Price – There should be a schedule that clearly lays out the price, as well as payment terms and methods. The price should be calculated by per square meter or per square wah (a standard Thai unit of area whereby 1 sq. wah = 4 sq. m). Ask for a clause stating no additional charges will be incurred without prior written agreement. 

Building Specification – Materials should be listed including the amount, the quality, and the model where appropriate. This is a case of the more detail the better should substitutions prove necessary later. (see clauses below)

Floor Plan – A floor plan should be attached to the contract.

Penalties & Compensation

Payment Penalties – Research the penalties for non-payment and what kind of window the developer allows for you to remedy matters.

Late Completion – Of course buyers need protections too, so compensation should also be paid if the developer is late with completion. The daily minimum for these is 0.01% and they are generally deducted from the final payment.

Developer’s Default – Should the developer fail to complete the project completely, ensure there is an option for a full refund.

Clauses

Extension Clause – This will contain the length of grace period allowed to the developer before incurring late penalties.

Substitution Clauses – These relate to the developer's right to substitute materials for ones of similar or better value or modify floor plans if deemed necessary. Make sure this clause reflects that you as the buyer have the final say and wish to be kept informed regarding any deviations.

Assignment – This is an ‘exit clause’ and given that we don’t know what the future may bring it is advisable to have one. This can allow for the transfer to a third party of the obligations or allow you to ‘flip’ the property if the market is agreeable. Ensure you check the administration fees for this.

Recitals – These precede the main text of a contract and provide a general idea about the contract to its reader such as, what the contract is about, who the parties are, why they are signing a contract. Ensure that this states that the developer is the rightful owner of the land. If they don’t this should be addressed in an addendum to ensure that you, as the buyer have the right to rescind and receive a full refund if the developer does not hold the title.

Alternative Dispute Resolution – This is an arbitration clause in case things go wrong. Arbitration is generally less costly than more formal court proceedings.

As always seek the advice of a lawyer about contracts and documents before signing, as there is no replacement for a legal expert in safeguarding your investment.

Key Points & Summary

  • Do your due diligence and research the developer.
  • Ensure you have a contract that safeguards your rights and investment.
  • Have the contract confirmed by a lawyer before signing it.
  • Keep in touch with the developer and ask to be informed of any issues or modifications.

And remember, the earlier in the construction process you purchase a property, the better the deal you’ll get.

Any Questions?

Do not hesitate to get in touch with us at Pulse Real Estate if you have any further questions regarding off-plan property investments in Phuket.

Can Foreigners Buy Property in Thailand?

Can Foreigners Buy Property in Thailand?


Can foreigners buy property in Thailand? It’s a question that gets asked every day on social media. It’s also a question that rarely gets answered accurately. The short answer is “Yes” but we need to explore the topic in greater detail to see the full picture.

Owning a condominium in Thailand foreign freehold is the most straightforward option. Owning a dwelling on a parcel of land—such as a villa or a stand-alone home—via a holding company is also a safe option for foreigners who want to buy property in Thailand. Leasehold options are also available, and thousands of foreigners in Thailand have made this option work for them.

Each option has its pros and cons, and those typically depend on what type of property is being bought.

Let’s break this down by the types of property ownership mentioned above.

Can Foreigners Buy a House in Thailand?

Foreigners cannot directly own the land upon which a dwelling sits, but if they wish to buy a villa or house in Thailand and the land surrounding it, they may do so using a Thai company. This is known as Thai company freehold, whereby the Thai company owns the property as an asset.

While it is true that a foreigner may not own more than 49% of a Thai company, lawyers routinely set up a company whereby the foreigner maintains control of the company by dividing the remaining 51% between more than one Thai national. It's also worth noting that the foreigner is the sole director signing off on all company actions.

This is a common way for foreign buyers to obtain property in Thailand; it is 100% legal, and even billion-dollar international business chains operate this way in Thailand.

There are also massive savings related to buying property already owned by a foreigner under Thai company freehold. With Thai company freehold ownership transactions, the name on the title deed (cha-note) doesn’t change. Instead, only the name of the company director changes. Since there’s no actual name change on the cha-note itself, all parties avoid being subject to Thailand’s 6.8% property sales tax and transfer fees. Of course, you’ll need to hire a lawyer to file the paperwork, but this is considerably cheaper.

If a property isn’t already owned under a Thai company freehold, then you’ll need to register a new Thai company. This will cost as little as 45,000 THB (approx. US$ 1500), while annual running costs are roughly 20,000 THB.

You can even use this company to get a Thai visa and work permit that will allow you to stay in Thailand legally. Owning an asset will also increase the company’s credibility for future business transactions.

How to Buy a Condo in Thailand Foreign Freehold

Whether you call it a condo, an apartment, or a flat, according to the 1979 Thai Condominium Act, up to 49% of a condominium block in Thailand can be owned by foreign nationals. This space is called the "foreign quota" and it is based on the total available living space rather than the total number of units.

For example, if a condo project has 100,000 square meters of living space, 49,000sqm of the space can be used for foreign ownership. This might mean foreigners can own 40, 50, or 60 of the units. The number of units doesn’t matter so long as the foreign quota for living space doesn’t exceed 49% of the total living space available.

Due to higher demand, foreign freehold space typically sells faster and it therefore holds a higher value on the market. As such, developers typically sell foreign freehold space at a premium price. Foreign freehold quota premiums vary but an acceptable range might be between 100,000-500,000 THB per unit.

One critical requirement for foreign freehold property is that the funds used to purchase the condo must be transferred into Thailand from abroad. Upon receiving the funds, a Thai bank will issue a Foreign Exchange Transaction (FET) form which needs to be presented at the land office upon transfer of the land title (known in Thai as a cha-note)

To offset the high demand for foreign freehold space, developers try to make their Thai freehold (for Thai entities - a person or a company) and leasehold units more competitive by offering that space at lower prices.

Foreigners may occupy Thai quota living space in a condominium complex by owning a lease on the space—commonly referred to as leasehold ownership, or just as owning land, through a Thai Company.

What is a Leasehold Title?

The cheapest and easiest way for foreigners to obtain property in Thailand is through a leasehold agreement. This is true for all property, including land. Foreigners can then apply for a construction permit to build on the land and put the structure in their own name.

Strictly speaking, the lease may run for up to 30 years. However, it is widely understood that the foreigner and owner can sign an agreement for the 30-year lease to be renewed up to two more times—resulting in a total duration of 90 years.

With a leasehold, it is critical that all parties ensure the information is correct, and that the leased land has the proper title deed (cha-note). It should have a correct contract duration, state the purchaser’s rights to resell it, and include the registration fee. We have a whole article about leasehold ownership of property in Thailand where you can find more information.

Power in Numbers—and the Law

According to InvestASIAN, “A greater number of foreigners buy property in Thailand than any other country in Asia.”

These investors are intelligent, fiscally savvy individuals who see the Thai property market for its true potential. Whether for investment or residential purposes, Thailand has proven itself as a secure and profitable option for over three decades.

Thai law is also clear where ownership rights are concerned. We recommend you conduct thorough research via reliable sources and find a good lawyer to help guide you through the process. Due to potential conflict of interest, we don’t recommend specific lawyers, but we can provide a list of lawyers who previous clients have recommended.

Phuket Property Consultations

Here at Pulse Real Estate, we provide free property consultations to anyone interested in buying property in Phuket. The information we provide is always honest, current, and accurate. Whether you’re buying a residential or investment property, we’ll tailor our information to suit your preferences, your schedule, and your budget. Once we have the information we need, we’ll curate a shortlist of properties for your consideration.

Can Foreigners Get a Loan to Purchase Property in Thailand?

Can Foreigners Get a Loan to Purchase Property in Thailand?


So you’ve found your dream home in Thailand, but in order to make it a reality, you need finance. Now you wonder, what options are available for you as a foreigner to get a loan to buy real estate in Thailand?

Unfortunately, it is rather difficult for foreigners to get a bank loan in Thailand.

As in Western countries, almost all financial institutes in Thailand have no trouble offering loans for real estate purchases to locals, but bank loans given from Thai banks to foreigners have been few and far between, to not say unheard of.

While some banks claim to give out loans to non-Thai citizens, it should be noted that there are strict terms to be met in order to receive financing, which severely limits a foreigner’s access to loans.

It's also worth noting that one important condition is that the property has to be held in the foreigner’s own name, which limits the loans to condominiums which is the only type of property that can be owned foreign freehold, and the property has to be registered as a condominium under the Condominium Act. In other words, if you are looking for a loan to buy land or a house in Thailand, that will not be possible.

While we have seen a positive shift in policy in recent years to allow foreigners at least limited access to financing we still recommend you to contact banks at the very early stages of your property search if you do not have the funds for a cash deal as acquiring a bank loan in Thailand as a foreigner is far from a straightforward process.

Financing Options for Foreigners in Thailand

There are two options available to foreigners:

  • Finance from local financial institutions (banks)
  • International home loan schemes for Thailand

Finance from Local Financial Institutions (Banks)

Not all banks in Thailand offers loan to foreigners, but a couple that do are HSBC, Siam Commercial Bank, and Thai Military Bank. Each individual institution has its own policies on lending to foreigners, but there are certain criteria that are pretty much universal.

Proof of a stable and secure job.

  • A work permit of no less than 1 year or a Thai resident permit.
  • Proof of employment in Thailand, sucha as a letter from your employer which clearly states your length of service and annual income.
  • As further proof of income, you will need to attach payslips to the above.
  • Banks are also entitled to request company documents from your employer to ascertain the sustainability of their employment.

Sustainability of payments

  • Credit checks will be conducted on the applicant.
  • The repayment period and the applicant’s current age cannot be more than 60 years when added together.
  • The fixed income must be at least three times the agreed monthly repayment.
  • The total amortization period of the loan must exceed 7 years (the period varies depending on the bank).

Do I need to submit any other documents?

You must also be prepared to be able to present the following documents as part of your application:

  • Copies of your passport inclusive of visa page, identity card, or government official identity card.
  • Marriage certificate (if applicable).
  • Copies of bank statements.
  • Copies of land or unit title deeds and sale and purchase contracts.

While all this might seem doable at first glance, keep in mind that this list is not exhaustive and as already mentioned, every bank has its own individual policies.

What interest rate can I expect?

This is dependent on specific bank offers at the time and is typically offered on fixed-rate terms. If you want to be sure of the best rate then you will need to complete a comparison of individual bank rates. They are competitive so it’s worth doing.

What other factors are involved in granting a loan amount for the property?

Banks generally have their own valuation process from which they ascertain a fair market value for the property.

International Home Loan Schemes

This scheme allows foreigners to buy property in Thailand even if they don’t live there. Initially introduced in 2005 by the Singapore branch of Bangkok Bank, they offer up to 70% finance to foreigners wishing to purchase property in Thailand. With more and more foreigners looking to have a dream holiday or eventual retirement home in Thailand, the demand for this is rising and therefore the Singapore branch continues to offer this service.

What currencies can the loan be paid in?

They can offer loans in numerous currencies

Is there a charge for this service?

There is an administration fee for this service.

How do I apply?

Here’s the catch, as they insist on meeting applicants in person, so you will have to travel to Singapore for a face-to-face meeting only to apply.

Are there any alternatives to Bangkok Bank?

No doubt having realized the demand, the United Overseas Bank (UOB) now also offers a similar service. They don’t have as much experience under their belt as Bangkok Bank, but it does give foreigners a choice. More than just choice, business competition means competitive deals for customers.

What is the difference?

This is exactly where competitive deals can sway you as the customer depending on your needs.

  • Presently, the terms of the 2 banks are similar with their interest rate, so not much sway there.
  • UOB also has an administration fee, but it is a little more than Bangkok Bank.
  • However, UOB does allow the customer to apply for the loan in Thailand and therefore there is no need to visit Singapore.

The choice, as always is yours and will depend on what you are comfortable with.

Criteria for Mortgages

A final note on mortgage criteria and protection under Thai law.

What legislation covers this?

The Thai Civil and Commercial Code – Section 702.

What rules do I have to adhere to in order to qualify for protection under Thai Law?

  • The right of ownership of the property must lie with the mortgager.
  • The mortgage contract needs to be in writing and registered.
  • Individuals must register the mortgage for land with a title deed at the Land Department, Bangkok Metropolis Land Office (Branch), Provincial Land Office or Provincial Land Office (Branch) where the land being mortgaged is situated.
  • Individuals must register the mortgage for land with no title deed (e.g. a Nor Sor 3) at the District Office where the land being mortgaged is situated.

For further reading, we recommend our popular Can Foreigners Buy Property in Thailand article and our piece on Reasons to Buy a Condo in Phuket.

Condo Prices in Phuket - Real Estate Market Trends

Condo Prices in Phuket - Real Estate Market Trends


Condo prices in Phuket continue to rise steadily at 5 – 10% per annum. The condominium market in Phuket has been and continues to be, a success story. Phuket property prices, in general, have risen by 410% on average across the island since the December 2004 tsunami. Condo prices in Phuket are driven by several factors including; the cost of the land, cost of construction, location, and overall quality.

Land Prices

Land prices for the Phuket Property market vary depending on location. The most expensive area of Phuket is Patong with land coming in at 50 to 80 million THB per rai. This makes the average cost per square of condominium units in Patong the most expensive on the island at 130,661 THB per square meter.

Land prices in Kata and Karon are not far behind Patong making the average cost of a condominium unit 115,826 THB per square meter. Surin and Kata are home to the current fastest-selling condominium projects on the island proving that quality developments in developed areas close to the beach are still the focus of customer demand.

In Surin in particular, there are a number of good quality studio units in convenient locations within walking distance to the beach and amenities.

Condominiums in Phuket: Average cost per square meter 

Location Cost per square meter (THB

Construction Costs 

The cost of construction depends on the quality of materials, architecture, level of planning, and construction management. The cost of construction of the structure of a condominium building is low and relatively the same across the developments in various market sectors. The pronounced difference in costs comes in the finishing and the amount spent on the type and quality of materials. For example, wooden flooring can often cost 5 to 7 times the price of regular tile flooring.

Demand Factors

The property market in Phuket has evolved to a stage now where undeveloped and available sea view land is extremely hard to find meaning that new-build beachfront and sea view condos are becoming increasingly scarce. The knock-on effect is that price of condos that have quality sea views and/or are located close to the beach is increasing quicker than the market in general. The signs are that value of premium sea view properties will be sustained into the future.

Other factors that affect demand include the general health of the world and regional economy and local political stability. Politics in Thailand has been making headlines in the last few years but savvy investors and visitors know that political change is a reliable constant backdrop and that a ‘business as usual approach’ prevails.

The new terminal at Phuket Airport is now open and visitors to the island are set to increase to 12.5m visitors a year. The number of tourists entering Thailand is increasing year upon year with over 31m tourist arrivals to the kingdom in 2016. This increase in visitor numbers will continue to fuel the real estate market as tourists evolve into repeat visitors and expats often seeking the three-fold benefits of a holiday home, a decent return on investment and healthy capital gains.

Looking forward

Condo prices in Phuket are projected to continue to increase at an average rate of 5 to 10% a year. There will be some reductions in short-term demand caused by various factors that will have a knock-on effect on prices but the mid to long-term picture looks promising. Phuket is at the hub of an expanding region and a top three-holiday destination in a country that is the geographical and center of ASEAN.

Hotel Managed Condos in Phuket

Hotel Managed Condos in Phuket


Hotel-managed condos are condominiums that have the rentals of their rooms managed as a hotel, usually by a well-recognized international hotel brand. Hotels brands are obviously professionals in the rental management business and therefore able to generate higher than average returns for investors. As such, hotel-managed condos are ideal options if you are looking to buying rental property in Thailand.

Hotel-managed condos are perfect investments for repeat visitors to Thailand who love the lifestyle it has to offer and who wish to be part of the growth that they can see with their very own eyes.

At present, a handful of condos and apartments in Phuket are set to be managed by hotel brands upon completion, and that’s a trend likely to continue.

The hotel managed investment offered to buyers tends to feature:

  • An initial period of guaranteed returns, usually 6 – 10% for 3 to 15 years.
  • A time period in which owners can stay free of charge, usually 14 – 45 days per year.
  • Compulsory purchase of a furniture package.

Guaranteed Rental Returns and Beyond

The guaranteed rental returns are offered because hotel brands recognize that it takes a new hotel a couple of years to achieve high occupancy levels and average room rate. Rather than asking investors to suffer in this establishment phase, the hotel brands instead offer an attractive guaranteed return for investors.

After the initial period of guaranteed returns has expired investors are able to join the hotel rental pool where they receive a return based upon occupancy and room rate of their unit.

Buyers also have the option to by-pass the hotel and rent out their units themselves or live permanently as a resident. Around 70% of the units in the developments are rented out as part of the hotel management program but many developments also feature larger units types suitable for full-time living can also be considered as residential property.

Free Stays

Under the hotel managed program owners can stay in their condo units for between 14 and 45 days per year depending on the development. There are usually some blocked out periods such as peak season over Christmas and the New Year period.

Recommended Hotel Managed Condos

This Beachfront Hotel Investment Development in Bangtao is comprised of a total of 196 keys ranging from the signature “Twin Double Beds” Studios up to well-appointed 2 Bedrooms Family Suites. The developer offers two different investment packages, at 2,500,000 and 5,000,000 THB. Both packages will give investors a return of 7% Net per annum for 15 years with a guaranteed buy-back after 15 years +10% increase.[propertypreview prop="S-BAN82" view="list"][/propertypreview]

Another popular property is this Sea View Investment Property in Patong. The developer offers a 7% NET (subject to WHT) rental guarantee (no monthly fees, no electricity, no maintenance, no sinking fund…) for the first 15 years. The rental guarantee will be paid every year in advance. After 10 years from the closing date, the buyer may apply for the buyback option and receive back all the money paid and after 15 years possibility of renegotiating a new rental guarantee period. Possibility for the Owner to use the unit 4 weeks in low season or 2 weeks in high season and 2 weeks in low season, free from the costs of electricity, water, and monthly fee.

[propertypreview prop="S-PAT72" view="list"][/propertypreview]

Then we also have these Amazing Investment Condos in Kata, from a very well respected developer with several projects around the island. Besides low entry prices, they also offer rental guarantees of 8% per year for 10 years, and of course, during the course of the rental period there are no maintenance or utilities to be paid, and owners can enjoy 40 nights of free stay per year.

[propertypreview prop="S-KAT56" view="list"][/propertypreview]

Tips for investors

When considering investing in a hotel-managed condo we would encourage investors to look beyond the initial guaranteed returns offer and study the longer-term prospects closely, such as the location, past performance of the hotel management company, and how well a chosen room type will perform in a rental pool.

Another consideration is that significant capital gains will be realized upon investments in well-managed developments. As well as usual demand factors affecting price, the rising average room rates and occupancy rates will increase returns year upon year which will also have a knock-on effect on price.

During a market downturn when perhaps only 50% occupancy for the whole property becomes the average, is it going to be the garden view or the sea view units which are going to have the highest occupancy and the best returns?

Finally, an important thing to note is that as the hotel will be managing the maintenance of the property, it will be in their best interests to make sure facilities are maintained to a high hotel level standard as the years go by.

In short, hotel-managed condos in Phuket are excellent investment opportunities, as you’ll earn handsome rental returns for minimal headaches.

How To Buy Property in Thailand - Step By Step Guide

How To Buy Property in Thailand - Step By Step Guide


Sorting out how to buy property in Thailand is similar to how most Westerners buy property in their home country. In fact, the process is largely the same on many levels. 

For factors unique to Thailand, real estate agents such as ours at Pulse provide a wealth of helpful information. This is particularly important if the buyer doesn’t know Phuket very well, or they don’t know if and how foreigners can own property in Thailand

In fact, here’s one critical piece of information every prospective buyer needs to know before they start their property search: Thailand is very much a cash-buyer market, as mortgages and bank loans for foreigners in Thailand are hard to acquire unless taken in the name of a Thai national. Send us a message and we'll see if there is an option for you.

With that critical bit of information out of the way, it’s time to find out how to buy property in Thailand. 

Step 1. Define Your Requirements

This works the same in Phuket as it does almost anywhere else. Requirements should be realistic in relation to both availability and your budget.

There are requirements such as the number of bedrooms, perhaps single-level properties for some, and maybe even a “need” such as a large kitchen for avid chefs. Then there are preferences like a modern design, a minimum area for the living space and/or the plot, a large pool, the list goes on and on.

However, there are a few considerations relative to Phuket. These include factors such as:

  • Sea view and/or proximity to the sea for investment properties
  • Proximity to the airport for frequent travelers 
  • Property ownership options for foreigners for those without Thai spouse
  • Proximity to international schools for families
  • Buying for residential, investment, or mixed purposes (common in Phuket)

If you don’t have a lot of experience living in Thailand, it’s best to rely on one of our property consultants for advice. Each one of them has lived on Phuket since at least 2005, which makes our collective local knowledge unsurpassed by any other agency. If you’d like a general overview of the various neighborhoods or beaches in Phuket, look no further than the wealth of information at Phuket 101

Step 2. Preliminary Property Research

Once you have a clear picture of what you’re looking for, it's time to let us know what you’re after so we can curate a list of options. At Pulse Real Estate, we specialize in Phuket property and we have a database of more than 700 Properties in Phuket for Sale. Either you or your property consultant can refine a search based on property type, location, completed or off-plan, and also more detailed filters like foreign freehold, private pool, and much more. 

Better yet, utilize our Property Finder where you provide us with your requirements, or simply shoot us an email and one of our property advisors will put together a personalized shortlist of properties for you.

Step 3. Inquiry & Initial Consultation

If you find a property of your liking, either add it to your shortlist on our website for later action, or send us an inquiry for a specific property directly. Your inquiry will be assigned to one of our property consultants who will get in touch with you as soon as possible.

It’s best to get a 10-15 minute consultation done right at the start of your property search. This way the agent can provide clarification on finer details, and they are in a better position to start offering properties that are a great match.

From there, our property consultant will also suggest other properties similar to the inquiries you submitted. You’ll finalize which properties you’d like to visit and your property consultant will do the rest of the work for you. 

Step 4. Viewing Shortlist & Property Inspections

This is the most exciting part of the property search. You’ll not only be able to compare the pictures to reality, but you’ll also be able to see the immediate neighborhood, as well as the areas beyond that. 

When you have agreed on a shortlist, our advisor will make arrangements for a property tour. Your property consultant will coordinate showings into a convenient schedule, and ensure gaining access isn’t a problem. This takes more work than you might assume, so it’s best to confirm what you’d like to see as soon as possible. 

We offer free pick up and drop off at your hotel/residence and will show you the properties in person. If you can not attend in person, we can record a video or set up a video call so you can conduct the viewing remotely.

Step 5. Price Negotiation

Our trained property consultants will help you with the negotiation process. We know the owners’ positions quite well and often help consult with putting in realistic offers. We can also consult on leveraging different angles we know to have worked in the past.

For example, when purchasing an off-plan unit, the furniture package that normally costs extra can often be included in the deal. You can also often get a price reduction if you are ready to pay a big chunk upfront. When it comes to dealing with private sellers, we can help negotiate the final price, distribution of sales tax and transfer fees, obtain the required documentation, and basically do a lot of the leg work so you don’t have to.

Step 6. Reservation Agreements

Once a price is agreed upon, a Reservation Agreement (RA) is prepared. The RA simply states that the buyer has the intent of purchasing the property from the seller to take the property off the market until due diligence can be performed by the buyer's lawyer.

The RA also includes the reservation fee amount and the date for the final transaction. A standard number for the reservation fee is 5-10% of the agreed sale price, but this figure varies.

Step 7. Due Diligence and Sales & Purchase Agreement

At this stage, it is highly recommended that both the buyer and the seller have appointed their own lawyer to prepare the paperwork, and in the buyers' case ensure that due diligence is completed.

Examples of due diligence to be made are a confirmation of the land title and ownership, presence of building permits for off-plan properties, Environmental Impact Assessment (condos only), building regulations, and that the property isn’t violating any local or national restrictions.

Once the lawyers have hashed out the details, both parties sign the Sales & Purchase Agreement (SPA). This is most commonly signed within 30 days of signing the reservation agreement, but it can differ. 

Step 8. Transaction at Land Office + Final Payment

The last step is completed at the Phuket Provincial Land Office/Land Department, where the completion of the purchase and final transfer of the property is done. A transaction can take anything from two to six weeks for an already built property to complete. Off-plan properties are not handed over until the property is completed and ready to move in, so the date of the finalization will depend on the construction schedule.

If either party is not in Thailand, the transaction can be completed remotely by signing a power of attorney with a solicitor. The final payment is made, transfer fees and taxes are paid and the property is officially handed over to the new owner.

Can You Buy Property in Thailand Online / Remotely?

Buying property in Thailand without physically being in the country is indeed very possible. At Pulse Real Estate, we offer virtual property viewings where we either record a video of the property/properties you are interested in or make live WhatsApp video calls, so we can walk you through the property as per your requests.

The sale process can be completed by giving your lawyer power of attorney (POA). This goes for both seller and buyer, so neither one has to be physically in Thailand to complete the deal.

Maintenance Fee / CAM Fee

Maintenance Fee / CAM Fee


The common area fee, or CAM fee, is a monthly maintenance fee paid by every owner of a unit in a condominium development. The fee is calculated based upon the square meters of each individual unit, so owners with larger units pay more than owner with smaller units in the same estate.

The CAM fee covers the maintenance, up-keep and repair of common area such as security, swimming pool, gym, reception area, gardens, elevators and walkways among other things. It also covers monthly electricity bills of the common area lighting, air-conditioning etc and other fees such as window cleaning.

In Phuket the common area fee in condominium developments ranges between 40 and 80 Baht per square meter per month, with the average being around 50 Baht for a well-managed property. You might be tempted to go for a property with a low maintenance fee, but you might want to read our article on cheap condos in Phuket why that might not be the best idea.

Let’s say you own a 60 square meter condo in Patong with a common area fee of 50 Baht per square meter per month. Your monthly fee is calculated as follows:

60 square meter x 50 THB per square meter = 3,000 THB.

Usually, the monthly maintenance fee is paid yearly; so in our example your yearly payment would be:

3,000 THB per month x 12 months = 36,000 THB.

It is a called a “common area fee” because in a condominium development all the unit owners are the joint owners of all the common areas under the land title. This is one of the reasons where there is an owners’ committee who among other things have an input in the management of the common areas and also allocates the sinking fund in order to make improvements.

Property and Land Title Deeds in Thailand

Property and Land Title Deeds in Thailand


In this article, I will break down the different property and land title deeds in Thailand and what their main features are. When buying a property in Thailand there is No Replacement for a Good Lawyer, therefore this article is merely designed to give some insight as to the different types of Land Titles available to aid you and not as a replacement for legal advice, which should always be sorted before entering into any agreement.

If you’re anything like me, understanding the jargon is half the battle of any endeavor, and a little knowledge can go a long way. With this in mind, listed below are brief explanations covering the most common terms you will come across when purchasing land in Thailand, together with some of their key features. For those of you who are interested in owning property in Thailand I have also included information on Condominium Titles and Building Transfers.

Freehold Title Deeds in Thailand

Officially known as a Nor Sor 4, but more commonly referred to as a Chanote.

What type of title is this?

This deed grants full rights to the holder over the land making it the most secure form of deed available. However, as the most sort after form of title deed, it is notoriously hard to locate land with this type of deed.

What are the key features of the title?

The Chanote acts as a certificate of ownership, which can be presented to Government Authorities as evidence of your exclusive rights to the land.

This deed allows for the registration of any leases against the land such as usufructs, mortgages, or superficies in order to gain encumbrance.

Where can I apply for this title?

This type of deed is obtained from the Phuket Provisional Land Office who will accurately plot and survey the land boundaries.

Take a look at this article if you would like to know more about Foreigners Owning Property in Thailand.

Nor Sor 3 Gor Title Deeds in Thailand (NS3G)

What type of title is this?

This is the document granted to land ‘awaiting’ a full title (Chanote).

What are the key features of the title?

A Nor Sor 3 Gor has exact boundaries which are measured by the Land Department, although these are not as precise as a Chanote GPS survey, this still means the owner knows exactly what he owns.

As long as this land is ready to be a full title deed (see below) it can be mortgaged, sold, or transferred as land with a freehold deed (Chanote).

How do I change a Nor Sor 3 Gor to a freehold deed?

Applications requesting to change a Nor Sor 3 Gor to a Chanote must be filed at the Land Department. Please note the Land Department can only grant this request provided there are no objections to the application.

Nor Sor 3 Title Deeds in Thailand (NS3)

What type of title is this?

The name shown on the title is the person who has the right to the land and has the legal right to possess the land and use the benefit of the land as an owner (it is not actually full ownership).

What are the key features of this title?

Unlike the previously mentioned deeds, the land in this deed has not been measured by the Land Department. It is important to note that this can lead to neighbor disputes.

This deed can subsequently be changed to a Nor Sor 3 Gor and later a Chanote.

Sor Kor 1 Title Deeds in Thailand (SK1)

What type of title is this?

This document is a notification form of possession of a particular land and has little real rights associated with it.

What are the key features of this title?

It is not possible to register rights (sale, lease, usufruct, mortgage, etc.) over this type of land.

Depending on the land’s location, this document may be upgraded to a title deed Nor Sor 3, Nor Sor 3 Gor, or Chanote.

The Land Department has not issued any new Sor Kor 1 documents since 1972.

Possessory Right

What is this title?

This title has never been substantiated by Department and is only recognized by the Local Administrative Office through tax payments.

What are the key features of this title?

As the holder simply ‘possesses’ the land and the government are the real owners this is the least recommended of titles.

Examples of possessory rights are Por Bor Tor and Kor Sor.

Condominium Title

What is this title?

This is the title to part of a building or buildings with multiple owners and is also known as Or Chor 2.

What are the key features of this title?

A condominium title covers two things, first and foremost the condominium unit, and second the common property. (In addition to their condo unit, a condominium buyer also buys percentage ownership of common property.)

  • The condominium unit includes the interior volume of the condo unit and any partition walls.
  • The common property includes the land the building is built on, the exterior walls of the building, and common areas such as the lobby and stairways or common assets such as a swimming pool or gym.

What should be stated in this title?

In the case of the condominium itself, the title should state the floor area and dimensions of the unit, as well as identifying information such as the floor, room number, property name, or building.

Finally, the title lists the ownership ratio of common property. This is calculated by dividing the area of the condominium unit by the total combined area of all the units to be sold. This percentage also represents the voting interest in the condominium company or owners association.

Building Transfers

Other than condominium titles discussed above, other buildings have no form of title document, but their sale and lease can be registered at the District Land Office.

What are the key features of building transfers?

Proof of ownership must be established either through proof of construction or a sale and purchase document.

Transfer of a building, as separate from its land, requires a public notice period of 30 days, to allow for contestation of ownership.

It is a commonly unknown fact that although a foreigner cannot own land in Thailand, he can own the house or structure built thereon. Foreigners can register such a transfer of ownership into their names at the Local District Office or Amphoe.

Is this the same as a House License document?

Simply put NO! These two items should not be confused as a House License document is only the registration of the house occupants.

In Summary

To ensure your purchase is worth more than just the paper on which it is written, only consider buying land that comes with one of the following titles:

  • Chanote
  • Nor Sor 3 Gor
  • Nor Sor Gor

The above are the only titles over which a registerable right of proprietorship or rent can exist.

You cannot apply for or get an agreement to make improvements or build on land without one of the previously mentioned titles.

Land with these titles can be used as mortgage security, sold or leased, making them more valuable and, should you no longer wish to keep them, easier to move on.

Browse through our inventory of Phuket Properties for Sale, and do not hesitate to let us know if you have any questions.

Real Estate & Property Transfer Fees and Taxes in Thailand

Real Estate & Property Transfer Fees and Taxes in Thailand


So your budget for buying a property in Thailand is set, but have you factored in the Thai property sales tax and transfer fees?

Taxes and fees occur when buying or selling property under Thai or Foreigner freehold, as well as when acquiring or renewing leasehold property.

Transfer costs of a title deed (chanote) typically amount to roughly 6.8% of the estimated property value.

According to the letter of the law, the seller is meant to pay the taxes and stamp duty, and the transfer fee is shared 50-50 by both buyer and seller. However, it is much more common for all the fees to be split 50-50 between the buyer and the seller. Of course, this can all be discussed during negotiations.

A Breakdown of Thai Property Transfer Fees and Taxes:

  • Business Tax - 3.3%
  • Transfer Fee - 2% 
  • Withholding Tax - 1%
  • Stamp Duty - .5% 

It is important to note that the business tax and the withholding tax is calculated based on the registered selling price or the appraised value of the property—whichever is higher. The Land Department and Treasury Department adjust these figures every four years. This is done so as to ensure the buyer and seller can’t game the system by stating a far lower sales price than what was actually agreed upon. The transfer fee and stamp duty are calculated on the appraised value of the property.

The land department has a calculator for estimating the property value on their website, but the website is all in Thai language. Pulse Real Estate provides clients the exact amount of property tax and transfer fees once we obtain the official market value of the property. Contact us if you would like a free quotation.

Thai Property Transfer Fees and Taxes Explained

Business Tax levied on companies and individual owners who have held the property less than five years

Transfer Fee charged by the Land Department and collected on the day of ownership transfer

Withholding tax varies slightly depending on ownership (individual or company)

Stamp Duty not imposed when Business Tax is due

Thai Leasehold Taxes and Fees Explained

The above property tax and transfer fees do not apply to leasehold transactions.

Lease Registration Fee

The leasehold registration fee for property is calculated at 1%, while a stamp duty of .1% is also applied. This results in a 1.1% fee applied to the total amount of the lease over the duration of its full term. This is collected by the Land Office at the time of registration.

Transfer Fee of Leasehold Property in Thailand

The same 1.1% applies here, but now only for the value of the remaining term on the lease agreement. To calculate the remaining value, you take the full amount of the lease, divide it by the total amount of years and multiply it by the remaining years on the lease term.

For example. If a 30-year lease is purchased for 10m THB, and the lease is transferred after 15 years, the remaining value is 5m THB.

Just as with the registration of a lease, the transfer fees are to be paid during the time of transfer at the Land Office. Fees are typically paid by the buyer or shared equally by the buyer and seller.

Renewal Fee of Leasehold Property in Thailand

The fee here is typically based on the original cost of the lease, or an evaluation from the Land Office.

If you still have questions about the transfer fees and taxes in Thailand, do not hesitate to contact us

Should I Use a Lawyer When Purchasing Property in Thailand?

Should I Use a Lawyer When Purchasing Property in Thailand?


First of all, it is worth noting that sales and purchase agreements in relation to the purchase of singular units at condo developments are generally straightforward involving a simple land title transfer, especially in cases where the condo unit is already completed.

In the case of a purchase in an off-plan development, more factors come into play such as the business structure of the developer, the project structure, and the presence of the correct permits and licenses. A reputable real estate agent should be able to give honest feedback on the track record of the developer and evidence of previous projects completed.

The purchase of a house or a villa involves either a company structure whereby the property is held as an asset of the company or under a 30-year renewable lease structure. In these cases, the situation is a bit more involved and a lawyer to help navigate the process is recommended.

Using a Lawyer to Buy a Condo in Thailand

Thai Condominium Law has been in existence since 1978 and is a clear robust law which lawyers are experienced in working with. As has been well published, anyone can legally own a condominium in Thailand freehold completely in their own name as long as the funds used to purchase the condo originate from outside Thailand.

When buying a unit in a large development that has sold a significant number of units already, it is likely that any lawyer that is hired to review the sales and purchase agreement, will likely be familiar with it, perhaps having already reviewed it on behalf of a previous client.

In this case, the research and background into land titles, background checking of the selling company, a review of the contract, and a list of recommendations would have already been produced. It is beneficial to the client that the lawyer has experience with the contract and developer and is familiar with all the key information.

Another thing to bear in mind in the case of larger condominium developments that have sold a significant number of units already is that each time a lawyer proposes an amendment that makes the agreement more secure and encompassing, the developer will update their master copy.

This means that the sales and purchase agreement has already been viewed and amended a number of times by lawyers both local and international.

What’s The Process of Using a Real Estate Lawyer?

Clients often ask us about lawyers and the procedure involved.

As an agency, we can assist our clients to find a suitable lawyer but we don’t recommend any specific lawyers as such. The lawyer works for the client and agents should be able to work with any lawyers and facilitate the process by helping to track down any documents required and be a line of communication between all parties.

A reservation agreement can be produced without a lawyer and is a straightforward document, usually one page only, which specifies the agreed terms of sale. It is the responsibility of the seller, through a lawyer, to produce the sales and purchase agreement. The lawyer will produce the sales and purchase agreement from the details contained within the reservation agreement.

Please note that it is not the responsibility of the real estate agent to produce this agreement; although in cases where buyer and seller agree not to use a lawyer then a template can be used. However, not using a lawyer is not advised and can lead to extended complications in the event of arbitration.

Once the sales and purchase agreement is produced the buyer has recourse to hiring a lawyer to review the contract and propose any amendments deemed necessary. Apart from a contract review, other property-related services lawyers can provide are a background check in to the developer and due diligence in relation to the land title deed.

The fee lawyers charge depends on the size of property and services required but a good rule of thumb is 1% of the property value.

Some lawyers will include a number of contract amendments in their fee and others may charge an additional hourly rate for amendments.

Sinking Fund When Buying Property in Thailand

Sinking Fund When Buying Property in Thailand


The sinking fund is a one time payment made by every owner of a unit in a condominium development. It is calculated based upon the square metres of each individual unit.

The fund is used to cover the cost of major repairs and upgrades a condominium building and common areas.

In Phuket this fund fee in condominium developments ranges between 500 and 1,500 baht per square meter.

As an example of a 60 square meter condo unit in a development in Patong with a sinking fee of 500 Baht per square meter, the one time fund payment would be calculated as follows: 60 square meters x 500 THB per square meter = 30,000 THB.

Along with the common area fee, the sinking fund is an extra payment that is necessary when purchasing a condominium.

Thai Elite Visa & Additional Visas for Property Owners

Thai Elite Visa & Additional Visas for Property Owners


The Thai Elite Visa is a great option if you’re looking to purchase property in Thailand. You can enter and exit the Kingdom while avoiding long lines; you can have the visa service complete immigration reports, and you’ll enjoy VIP perks that come with the visa. Avoiding all the visa hassle is the main attraction—particularly for busy travelers who may not be in Thailand when traditional visas need to be renewed.

What is the Thai Elite Visa?

It’s a long-term luxury Thai visa for those who can afford the US$ 17,000+ price tag. This is a particularly good option for individuals, couples, and families who have just bought residential or investment property in Thailand.

The visa is managed by Thailand Privilege Card Company Limited, which is a subsidiary of Thailand’s Ministry of Tourism and Sport.

What are the Benefits of The Thai Elite Visa?

With VIP status comes VIP treatment. Here are just some of a growing number of benefits

  • Fast Track international departure at airport immigration
  • Airport limousine services
  • Concierge services at select government offices (including 90-day immigration reports)
  • No need to apply for re-entry visa stamps
  • Premium annual health checks
  • Hotel and travel discounts 

Can Thai Elite Visa holders own land in Thailand?

Not currently, but as per the experts at Bangkok-based Frank Legal and Tax, “(land ownership eligibility amendments) may be available over the next three to five years as part of a stimulus package to boost the economy after the covid economic crisis by creating investment opportunities to attract foreigners looking to buy second homes in Thailand. Read more about property ownership for foreigners in Thailand here.

Who Qualifies for the Thai Elite Visa?

You’re eligible for the Thai Elite visa so long as you have never overstayed a past Thai visa, have a clean criminal record, haven’t filed for bankruptcy, and are of sound mind. With the exception of one visa package, there is no age restriction.

How much does the Thai Elite Visa cost? 

Costs depend mostly on how many people are applying, how long they wish to enrol, and what benefits they wish to include. There are no annual fees unless noted.

Elite Visa - Easy Access

  • validity of 5 years
  • 600,000 baht
  • option to upgrade to Elite Ultimate Privilege
  • No age restriction

Elite Family Excursion (minimum two people)

  • validity of 5 years
  • 800,000 baht
  • 300,000 for each additional family member

Elite Family Alternative

  • validity of 10 years
  • 800,000 baht
  • 700,000 baht for each additional family member

Elite Privilege Access

  • validity of 10 years
  • 1,000,000 baht
  • 800,000 baht for each additional family member
  • Eligible for the Flexible Plus Program

Elite Superiority Extension

  • validity of 20 years
  • 1,000,000 baht 
  • Eligible for the Flexible Plus Program

Elite Ultimate Privilege

  • validity of 20 years
  • 2.14 million baht, with an annual fee of 21,400 baht
  • members must be at least 20 years old 
  • Eligible for the Flexible Plus Program

Elite Family Premium

  • available only to family members of Elite Ultimate Privilege members
  • 1,000,000 baht, with an annual fee of 10,000 baht
  • validity is based on the membership and visa validity of the Elite Ultimate Privilege family member
  • renewable after five years
  • Eligible for the Flexible Plus Program

Can you get a work permit through the Thai Elite Visa?

Yes, you can get a work permit through the Flexible Plus Program. This program is aimed at foreigners in need of a work permit. As a member, you can get access to members-only benefits and perks while in Thailand and also have the benefits to work and make business anywhere in the country. Thus, making you and your family stay in the country hassle-free. 

In order to be eligible, you must have an eligible membership card (20 years for Elite Ultimate Privilege, 20 years for Elite Superiority Extension, and 10 years for Elite Privilege Access).

While there is no direct cost for this package, you must invest at least $1,000,000 USD in one of three different types of investment: real estate, a public company limited or company, or the Stock Exchange of Thailand (SET).

How Do Foreigners Get the Thai Elite Visa?

1. Submit an Application

You can speak to a Pulse Property Consultant about this. They will then put you in contact with a certified Thai Visa Agent who’ll guide you through the process. You’ll need a scanned copy of your passport and the completed application form. The agent will then work with the Thailand Elite Office and other officials to conduct criminal background checks. This process most commonly takes one month but can take up two-three months for some nationals.

2. Approval and Payment 

Once you’ve been approved by the authorities, you’ll receive an approval letter that includes payment instructions. Payments can be made via domestic or int’l bank transfers, or online payments. 

 3. Membership Acceptance and Visa Issuance

After the payment is received, you’ll be issued a membership ID number and details on how to receive the Elite Visa.

 If you would like more information on the Thai Elite visa, please use the form below to contact us.

Thai Elite Visa FAQs

Does the Thai Elite Visa allow holders to purchase property in Thailand? 

Absolutely. Holders can own property in accordance with other Thai property laws and regulations. However, in order to be eligible, foreigners may be required to be Thai Elite Visa holders—yet another advantage for savvy investors. 

Does the Thai Elite Visa have any income requirements? 

No, there are no income requirements.

Does the Thai Elite Visa require any documentation?

Yes, but the requirements are minimum and straightforward:

1. A scanned copy of your passport,

2. A completed application form,

3. Passport style photos,

4. In the case of family applications, proof of relationship is required.

How long does the Thai Elite Visa application process take?

It only takes about one month in most cases, but it can take up to three months for some nationals. 

Does the Thai Elite Visa application require a minimum duration for passport validity?

Yes, five years. If your current passport has less validity than that, the Thai Elite Visa will be issued for a duration no longer than the current passport’s validity. 

Does the Thai Elite Visa application allow me to currently be on a different type of visa? 

Yes, current visa holders can apply so long as they aren’t overstaying their current permission to stay in Thailand. 

Does the Thai Elite Visa allow me to work in Thailand?

Yes, but you would need to apply for a visa that allows for a work permit associated with it. This does not affect the Thai Elite Visa’s validity. 

Do Thai Elite Visa holders have to do 90-day reports in Thailand? 

Yes, but your presence is not required, and you can do this through the Thai Elite Visa program services.

Does the Thai Elite Visa have any age requirements? 

Only the Elite Ultimate Privilege package requires the applicant to be 20 or older. All other packages have no age requirement. 

The Best Investment Properties in Phuket

The Best Investment Properties in Phuket


The best investment properties in Phuket is a shortlist of condos and villas that can be purchased with the intention of earning a direct return on the investment through rental income in addition to spending time in the property yourself. Such properties are also referred to as Hotel Managed Property if they are managed by a hotel brand, which is common practice for condos. Villas are more often handled by one of the many private rental management companies on the island, like Thai Villa Boutique, or managed by the owners themselves. At Pulse Real Estate, we can help you with recommendations to find the perfect solution for your purchase.

The list below is just a small sample of the many investment properties Phuket has to offer. Browse through our website for more options or make use of our Property Finder Service if you prefer us to compile a tailor-made list of properties for you.

Top 5 Investment Properties in Phuket

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Do not hesitate to Contact Us if you have any questions or if a property piqued your interest.

Check out our full list of Investment Property in Phuket for more options.

Guaranteed Rental Returns in Phuket - How Does it Work?

Many real estate developers in Phuket, Thailand offer investors the opportunity to purchase property that is managed like a resort or a hotel. The property is marketed as holiday rentals (often through online travel channels like Agoda, Airbnb, Booking.com, etc.) in order to maximize the occupancy and the return on your investment.

Owners will receive their share of a previously agreed percentage of the generated rental return (often guaranteed) paid out annually, and up to 4 weeks of free occupation in the unit every year. The rest of the time the property is rented out, just like at a hotel, generating the rental return. Everything regarding the rentals is handled by a management team, so the investor can just sit back and watch the profits ticking in.

As an example of a guaranteed rental return, "7% Guaranteed Rental Return for 15 Years" means exactly that; the developer and its rental management team is guaranteeing property owners a rental return of 7% on the purchase price annually for 15 years. In this example that would mean a 105% ROI (7x15) on the rental return alone, and then we're not even accounting for the capital gain!

We have developers offering up to 10% Guaranteed Rental Return for 10+ years, so there is no doubt that there's money to be made through Phuket Investment Properties.

Top 3 Phuket Property Investment Strategies

Top 3 Phuket Property Investment Strategies


The Phuket Property market offers many opportunities for smart investors. The inspiration for this article originates from the fact that in the course of working closely with our clients we often introduce them to successful Phuket Property Investment Strategies that previous investor clients of ours have used. We, therefore, thought it would be a cool idea to make these proven strategies available for our Investor’s Guide readers.

First of all, let us clarify that in this article we are talking about more than simply making a Condominium Investment in Phuket in order to make a capital gain and a healthy return on an investment over a number of years; we are talking about ‘outside the box’ investment strategies designed to maximize capital gains and returns, usually over shorter periods.

Gain an insight into the minds of savvy Phuket property investors through these three proven investment strategies.

Early bird catches the worm

The early bird strategy involves investing in pre-launch or pre-sale condo developments and re-selling before completion in order to make a capital gain of 30 – 50% over a 6 to 24 month period. Most condominium developments in Phuket Property scene are funded by investment capital and developers are usually prepared to propose special pre-launch prices to early investors. Generally, the earlier the investment and the greater the number of units purchased, the lower the price and the greater the return.

Typically, early investors are able to lock in a price per square meter up to 20% lower than the pre-sale price. As sales and construction progress, prices are raised step by step usually in the form of an initial circa 10% increase when the pre-sale promotion phase is over, and then periodic increases of 5-7% thereafter until completion. Once selling prices have reached a level that gives an early bird investor a satisfactory return, the developer can then release the investor’s units onto the market for sale (re-sale). Thus, the developer does all the work and of re-selling units on behalf of the investor.

A variation on the strategy is for the investor to leave some units in the rental pool to net a higher than average return on investment. A decision to go this route usually means committing to the rental pool for at least 5 years before re-selling in order to avoid the 3.3% Specific Business Tax (SBT) levied on condos sold that are between one and five years old. We have a whole other article whether off-plan property in Phuket is a safe investment.

Buy four, get one free

Similar to the ‘early bird catches the worm’, this strategy involves investing a number of units, usually four or more, in the pre-launch or pre-sale stage and re-selling all but one unit before completion with the aim of gaining a unit at no cost.

An investor can then decide to live in the unit or leave it in the rental pool in and receive a passive return. Furthermore, all rental pool structures allow the owner to stay in the unit for up to 4 weeks a year so a free holiday home plus a handsome return is obtainable.

The older the better

As the Phuket property market matures and available land is developed, better that average returns can be realized by re-developing existing properties in good locations. Freehold ownership structure here might not be available for this option so it is suited to investors with a higher risk profile. Older properties purchased, renovated and then rented out can achieve 10% return in year one and this is indeed the figure we recommend to aim for in order to assess whether this type of investment is viable or not.

There are a few common techniques that intelligent investors use to renovate older properties and make them more desirable including; painting to make the old new and appear bigger and brighter, installing new floors to make unit look larger and more modern, installing new light fixtures to provide the correct lighting and improving functionality and aesthetics of balcony space.

What makes an intelligent investor in the Phuket Property scene?

This is a hard question to answer and in doing so we can only go by our observations and experiences but we would summarize as follows; intelligent investors have the ability to think creatively and act upon instincts. Savvy investors seem to have one distinct advantage: they can think outside the box when it comes to crafting deals.

Intelligent investors seem to grasp the fact that there are no rules; which automatically puts them at a distinct advantage compared to the general population that believes that buying and selling real estate has boundaries.

A final word

In our experience, investors employing these strategies are more often than not prepared to consider the worst-case scenario if all goes wrong. As an investor, if you can accept the worst-case scenario and can see a way to work with it, then that is a good acid test when deciding whether to invest.

In addition, it is important with all these strategies to have an exit strategy. Buying something with no option to divest or sell when you wish to leave limited options for exiting stage left should you ever need to. Exit strategy also depends closely on your investment goals. For further reading, we recommend our 5 Mistakes to Avoid When Purchasing a Property in Thailand article or Why Investing in Phuket Property is a good idea. .

What is Leasehold Property Ownership in Thailand?

What is Leasehold Property Ownership in Thailand?


What is Leasehold Property Ownership in Thailand? This is one of the most frequently asked questions we get from clients. Thai law is straightforward when it comes to owning property in Thailand, but for those who are not familiar with the laws, it can be complicated.

In this article, we try to make all things regarding leasehold property ownership in Phuket and Thailand clear, but please don’t hesitate to contact us if you still have further questions or anything isn’t clear. We're happy to answer your questions.

Buy a Condo in Phuket – What is the Difference Between Leasehold and Freehold?

According to the 1979 Thai Condominium Act, non-Thai Citizens can’t own more than 49% of the sellable square meter space in a condominium in Thailand. For example, let’s say there is a condominium building with 100 equally sized units; 49 of those units can be sold to non-Thai citizens while 51 of those units have to be owned by a Thai Person or Thai company. You might also want to take a look at our article on the topic Can Foreigners Buy Property in Thailand?

Those 49 units can be sold under the Foreign ownership quota via what is commonly known as a “Foreign Freehold” land title. In actual fact, it is exactly the same land title that Thais can own – a “Chanote”. A Chanote is the land title with the maximum ownership rights issued under Thai law.

The Chanotes of the remaining quota of 51 units can be held by a Thai person or Thai company. A non-Thai can purchase a unit in the condominium on the Thai side of the ownership quota via a lease, but here is the catch – the Chanote of the leasehold units here is still owned by a Thai Company or Thai Person. Read more about Property and Land Title Deeds in Thailand.

In a condominium development, it is almost always the case that the Chanote is held by the developer, which will be a Thai company, and a lease will be issued to the non-Thai purchaser of the unit for a maximum of 30 years on a renewable basis.

It is a common practice in Thailand for developers to be granted a 30-year lease, with the possibility to have a contractual agreement for two subsequent renewals equalling 30 years + 30 years + 30 years, totaling a 90-year lease for the buyer. Since the issuer of the lease (the lessor) is a limited company or a publicly listed company (PLC), rather than a juristic person, the renewal of a 30-year lease is safeguarded.

Is Leasehold Safe?

The 30-year period of a lease is legally protected under Thai law and so this ownership period cannot be disrupted. The ambiguity arises when it comes to the renewal of the lease. What actual provisions are in place so that the lessor will renew a new 30-year lease period?

Problems have arisen in the past in cases where the property owner is an individual instead of a company. There have been cases where properties were purchased via a leasehold structure directly from a Thai person, then that person passed away and the legal successors of the lease didn’t wish to extend.

A Thai Company is an enduring legal entity used by developers, often in part ownership with leaseholders, that can be cleanly run to maintain its purpose of renewing leases for owners.

We recommend that a leasehold purchase should always involve a Thai company as the lessor and the Sales and Purchase Agreement be executed under the supervision of a lawyer with the extension and termination clauses properly stated.

Protected Leasehold / Corporate Freehold

What is protected leasehold property ownership in Thailand? Protected leasehold means that the owners at the estate not only have a lease for their condo, villa or other property, but they are also shareholders of the Thai limited company that owns the freehold (chanote) of the property.

Owners can therefore control the renewal and issuing of leases themselves, and do not have to worry about a lease expiring or change of terms.

This means that the leases can be renewed in perpetuity during and beyond 30+30+30 years. Protected leasehold is therefore pretty much the equivalent of Freehold Ownership in Thailand when it comes to ownership security.

Typical Protected Leasehold Legal Structure Flow Chart

Why is Thailand Leasehold Property Cheaper Than Freehold?

In the past, the Foreign Freehold units in developments popular with overseas buyers would usually have their Foreign Freehold quota sold first, leaving the developer having to sell the units in the Thai quota as a leasehold to Foreigners or to either Thai individuals or Thai Companies.

As a result, units in the Thai quota generally took longer to sell. In addition, when it comes to reselling a unit in the Foreign Freehold quota a premium is added to the resale price. These two factors combined inspire developers to charge a premium of approximately 10,000 THB per square meter at the point of purchase for a unit under the Foreign Freehold quota.

In addition to the premium on the price tag for a unit in the Foreign Freehold quota, the total transfer fees and taxes are 6.8% of the value in relation to freehold as opposed to 1.1% of the value in the case of a lease.

In summary, the combined effect of no premium and lower taxes means that in reality, a leasehold unit can overall be approximately 10 – 15% cheaper than a foreign freehold unit.

How to Buy and Sell a Leasehold Property in Thailand?

What is the procedure for purchasing and selling a lease in Thailand? When purchasing a property leasehold from an off-plan project, the transaction is straightforward as the developer, a Thai company, issues the lease to the buyer.

If you later want to sell your lease, some developers offer the new owner to sign a new lease for another 30 years. In that case, the owner of the chanote, the seller of the lease, and the buyer of the lease all have to be present at the land office to complete the deal.

If you instead take over a lease, only the buyer and the seller have to be present at the land office. When taking over a lease, you are only guaranteed access to the property as many years as are left on the lease, but that will also be reflected in the price.

Is it Worth Paying the Premium for Freehold Ownership?

It is true that Foreign Freehold units are more desirable in the resale market so there is an opportunity for the purchase premium to be recouped. Read more about Condo Market Price Trends in Phuket. Furthermore, in Thailand, the overall property tax burden is low over the lifetime of owning a property especially in comparison to foreign countries. For example, there is no capital gains tax in Thailand and the yearly property tax paid to the local government is very small indeed.

There some key facts to consider when deciding whether it is worth paying more to purchase a condominium under the Foreign Freehold quota and we hope that this article has helped to shed some light on those facts.

Please do not hesitate to contact us directly if you would like further information. We provide free consultation and advice and guide our clients every step of the way through the purchasing process.

What is the Average ROI for Property Investments in Phuket?

What is the Average ROI for Property Investments in Phuket?


Phuket is one of the most exciting markets for property investments. It always has been, and not only because of its beautiful nature and landscape but also because it’s one of the most visited holiday destinations in Southeast Asia. It’s always been popular among Australians, Europeans, and Americans, and over the past 10 years, the island has become very popular among Russian and Chinese tourists.

Prices per square meter depends on property type and location. That's solely because of the land prices. Land for sale Phuket can be quite different in terms of pricing. The west coast of the island are more preferred therefore the prices are much higher than the east coast. Also some areas situated on a hill, so not much land space available for development such as Patong, Kata, Karon. That also effects the land prices.

A large percentage of the visitors are interested in owning a holiday home in Phuket. That demand has brought a decent amount of supply of holiday homes over the past ten years, and more and more attractive properties are still being built. That supply has also increased the demand on the developers on the island to come up with attractive return on investment (ROI) opportunities through guaranteed rental returns in order to provide a handsome capital gain for the buyers.

Not too long ago, Phuket property developers came up with the great idea of having an agreement with international hotel chains to run their projects like a hotel when they’re completed. This increases the liability of the project as well as provides a good rental return guarantee to the investors.

High Guaranteed Rental Returns, Phuket

Generally, new Hotel Managed Developments offer 5-7% guaranteed yearly rental return to investors for no less than 3 years, and some projects offer even up to 15 years of guaranteed income generated from renting out your property. Most developers also allocate around one month per year for the owners to use their property. The rest of the year it is being used as a hotel room, generating a passive income for the owner. Everything regarding the rentals is handled by the management team, so it is a completely hands-free investment.

On top of all that, there are also developers who offer to buy back the property at the original purchase price +10-15% after a certain amount of years.

Most projects have one condition on the owner in order for him to be able to join the rental pool, and that is that the owner has to go with the developers’ default furniture package and cannot change/personalize much in the unit.

That gives an opportunity to the hotel management to rent out the units as advertised.

We’ve put a couple of good deals together here to give you an idea about the rental return possibilities through owning a property investment in Phuket. You might also want to take a look at a more extensive list of the most attractive Investment Properties in Phuket.

Also, if you fill out our Property Finder Service form with your requirements such as budget, preferred location, etc. we would be happy to compile a shortlist of properties.

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Why Invest in Phuket?

Why Invest in Phuket?


As recently as thirty years ago, Phuket was still largely a quiet fishing community, where the sunset signaled the end of the day. Today, that story has changed dramatically. International resorts, new shopping centers, restaurants from every corner of the world, large marinas full of exclusive luxury yachts, and, of course, an international collection of tourists, all are part of the new Phuket.

The growth is all around you. A new international airport will soon be complete, helping fuel the development of several new hotels and countless other projects of all sizes. A major transportation project keeps it all moving, including a tunnel under construction to connect thriving Patong City with Phuket Old-Town and the deep-sea harbor.

Why all the excitement for an island that is just 50×20 kilometers? Perhaps it’s because Phuket offers a taste of everything you can find in Thailand: stunning temples, amazing cuisine, jungle and island tours, local and international shopping centers, endless nightlife, some of the world’s most beautiful beaches, sport-fishing, sailing—and for world-class diving, you’re just a boat-ride from both Koh Phi Phi and the famous Similan Islands. Browse through our property listings in Phuket to find your dream home.

Demand – The Driving Force

When you consider that most of the world’s emerging economies are within an 8-hour flight, you can see why so many are projecting steady growth for Thailand’s real estate markets. And the gem of Thailand is Phuket Island. The long-term economic trends look very positive for China, India, Russia, Japan, Korea, and Southeast Asia, as well as Australia and the Middle East. Even conservative estimates put the growth of the middle class at over 250 million each year for the region.

And this trend is consistent with what is happening right here in Phuket, where a dramatic rise in Russian tourists has been followed by an even greater escalation in Chinese tourists. And just as the Russians first came as tourists and then returned as investors, the Chinese are following a similar pattern … yet in many ways, the Chinese have only begun to discover Thailand.

Ideal Location for Investment & Residential Property

Despite such rosy long-term demand projections, prices in Phuket remain well below regional real estate markets. You can buy a large villa in Phuket for the same price as a one-bedroom apartment in Singapore, Hong Kong, and most Chinese cities.

These prices make Phuket attractive not only for investment for capital return but also as a destination for retirement or expat living. Relocation to Phuket has been made convenient by its well-established infrastructure, international airport, and quality services: yacht marinas, golf courses, and shopping malls, all of which draw the Westerners in. A large expatriate community has continued to grow over the past 10 years, with two international schools available on the island and an extensive support network of clubs and societies.

Phuket has long been a popular destination for holiday homes because of its tropical climate and fantastic beaches. This has been the driving force behind both domestic and international investment in the island, including major hospitality developers, individuals looking for both vacation and rental property, and those wishing to settle on the island.

There is also a trend of more and more expats in Southeast Asia relocating their families to Phuket due to the improving state of infrastructure, first-class international schooling and high-standard amenities. – Phuket Gazette
Why do I Need an Agent When Buying Property in Phuket?

Why do I Need an Agent When Buying Property in Phuket?


Let’s be perfectly clear here: no one needs a real estate agent – they need a knowledgeable, professional, and honest real estate agent. 

Getting into home ownership is difficult enough in one’s native country, it only makes sense that property ownership in Thailand requires outside help. Whether purchasing an investment property or investing in a retirement home for personal use, the difference between falling into a money pit and falling in love with your new home is often down to the right agent. 

Here are a few reasons why agents play such a pivotal role in a property search

1. An agent should have local knowledge

If you’re not familiar with Phuket, knowing where to buy is a real challenge.

Thailand’s largest island covers 543km2 and contains 12 sub-districts, each with its own character and nuanced differences. A good agent should be able to provide meaningful information on each area and other information related to your property search.

This knowledge should also be based on more than a few years of living in Phuket. Historical perspective comes into play when seeing how the area has changed, and that knowledge should carry over into being able to predict what the area might look like in 5-10 years’ time. 

Why is this important? Perhaps you have your heart set on a sea view but you have a limited budget. Your agent should know straight away that Cape Panwa and the coastal areas of Paklok might be better for you and your budget. This is particularly critical with the recent changes COVID brought to Phuket.

2. An agent should know the current market trends

Thailand doesn't have a reliable source of data like many parts of the Western world do, and property is no different. This is evident by the fact there’s no Zillow for Thailand or anything that comes near it. 

Buyers need to rely on agents for current data related to sales volume, expected developments, planned infrastructure changes, where demand has been rising, and where it’s dropped off. 

Why is this important? Again, COVID has changed Phuket’s property market quite a lot. As the island’s economy bounces back, there are at least two areas Pulse agents are advising to avoid investment, while we know at least four to be particularly valuable in terms of expected ROI in the next five years.

3. Your Agent Can Advise on Property Ownership in Thailand

There is no point in starting a property search without knowing first what type(s) of ownership you’re willing to consider. 

For instance, if foreign freehold is your only option, then you should only be looking at condos. Other options include Thai company freehold, leasehold, protected leasehold, or Thai freehold (for those who are ready to put the property into a Thai partner’s name).

Pulse has a helpful article summarizing these options: Can Foreigners Buy Property in Thailand, a great starting point for those who need it. But even after reading through it, you might have some questions. Your agent can give detailed advice and recommendations for each individual property you are interested in. 

Our team has decades of experience in the Phuket property market between them, and we have all lived in Thailand for 10+ years. We have already dealt with all kinds of situations and ownership and can guide you through the potential confusion when it comes to property ownership in Thailand.

4. Your Agent Will Advise You on How Much to Offer

With their experience of the local market and property negotiations, your agent can advise you whether what the seller is asking is a fair price and/or if the price is negotiable. This can be particularly true for off-plan projects straight from the developer where the agent might have closed deals before and have a good relationship with the sales team.

5. Your Agent Has Experience in Real Estate Contracts

Even if you have experience of real estate contracts in your home country, contracts in Thailand might be a different story. A reputable and experienced agent, like the ones we employ at Pulse Real Estate, will have seen the contracts before. They will have experience with conducting transactions at the land office, and together with your lawyer, you are in safe hands. Yes, we advise you to always hire a lawyer when buying property in Thailand, and we have a list of trusted professionals who come recommended by past clients.

6. Using an Agent Does Not Cost The Buyer Anything

As is standard in Phuket, the agent is paid by commission offered by the seller, whether it be from a private owner or from a developer. Agents do not charge an upfront fee, instead, the commission is only paid once a deal is completed. 

Nevertheless, our agents are committed to finding the right property for you, and we put the client first, not the commission. We also reach out to other agencies if the options in our inventory do not fit your requirements, all to make it easier for you to find your dream home in Phuket.

7. Your Agent Will Arrange Viewings of Properties

Your agent can arrange and coordinate viewings for several properties on the same day. You’d be surprised how complex this can be in many situations and this saves buyers a lot of time and hassle. 

We at Pulse Real Estate also offer pick-up and drop-off at a location of your choosing as part of our service as the buyer's agent. We can also arrange virtual video viewings via Whatsapp or other chat applications on request. You can fill out the form on our property finder page to fill out your property requirements and one of our advisors will get back to you with a list of properties to review.

Conclusion

Using a real estate agent when buying property in Phuket makes sense only if you choose a reputable agency. Unfortunately, this is an unlicensed profession in Thailand and Phuket is rife with agents/agencies lacking basic knowledge and professionalism.

We at Pulse Real Estate are dedicated to helping our clients throughout all stages of the purchase process, and we have the knowledge and experience to make your transaction as smooth as possible. As such, our agents cultivate long-lasting relationships rather than short-lived business transactions.

Feel free to browse through our inventory of property for sale in Phuket, or reach out to us using the contact form below to schedule a personal consultation

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Phuket, Thailand
Pulse Real EstatePulse Real Estate

“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full and managed with reasonable care, it is about the safest investment in the world.”
- Franklin D Roosevelt

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