The Phuket property market has exploded in recent years, attracting seasoned investors looking to diversify their investments as well as perhaps somewhat inexperienced investors just starting up their real estate portfolio.
At first glance the cheap condos in Phuket might look like the best deal; you’ll get ”more property” for your money, right? That is not necessarily true though, and in this article, we will outline exactly why you shouldn’t cheap out on your condo investment, in Thailand and Phuket in particular.
For personal consultations, fill out the client registration form or contact us and we’ll be more than happy to give you all the guidance you need on your way to your Phuket real estate investments. We also recommend that you check out our recommended Investment Properties in Phuket.
While it might be tempting to purchase a cheap condo because you don’t want to put too much money in the market, it’s important to also take into consideration what you’ll actually get as a higher price per square meter often means higher quality, better finishing and just a higher standard.
This is particularly important for investors who plan to use their property as a holiday home on a regular basis as the quality directly will affect your living standards. This Premium Hotel Managed Property in Kamala is a good example of a property that is on the more expensive side but also will provide a high-quality experience. Also another compound that sought after by many is Cassia Laguna Phuket project. Every year so many tourist prefer to stay in this project, so it is easy to rent out and of course easy to sell whenever you wish to do so.
The price will also almost certainly reflect not only the location of the unit in the building (what’s the view etc.) but also the location of the project as a whole. Prime land plots in Phuket are not cheap, and particularly sea view and beachfront properties are in high demand driving the prices up. For example Patong is one of the most popular areas in Phuket when it comes to tourism. This Patong Condo for Sale is a good example of what you can get for the money. There are so many similar options available in Phuket.
If your budget is limited you might want to consider a bank loan if the expected rental return outweighs the bank’s interest rate. You can find out what is required to be eligible for a bank loan in Thailand here.
Off-plan projects also often offer payment terms that can be stretched over several years.
“I really like the project, but the common area fee/maintenance fee is too high” is the feedback we receive from our clients from time to time when recommending a project.
When you think about it, it’s a contradictory statement as the higher common area fee might be a reason why the project is so attractive in the first place!
A higher common fee means more money to be spent on staff, repairs, and just general maintenance keeping the property in tip-top shape. Not only will that lead to a pleasant experience for residential use, but also higher achievable rental returns and higher resale value.
Similar to the point regarding a maintenance fee that is on the higher side, a relatively high rental management fee will almost certainly mean a more professionally managed rental management operation. If a big hotel-chain has been brought in to manage the property, they certainly won’t do it on the cheap.
On the positive side, Hotel Managed Condos in Phuket is likely to make you more money in the long run as they can leverage their experience and knowledge about the business. If you are interested in finding out who will manage a certain property, ask a trusted real estate agent who surely will be happy to help you out.
The achievable rental returns can be described as a function of the price. You will often hear that a property is expected (or in some cases even guaranteed) to generate a certain percentage of rental return every year.
If your 3 million baht property at project x is expected to generate a 10% rental return of 300,000 baht per year, how much would a 5 million baht property at the same project generate? You do the math and tell me which will put more money in your pocket. Hint: It’s not a cheap property in Phuket.
We always recommend our clients use a lawyer when purchasing a property in Phuket. While it’s generally a clean and honest market, it’s good to have someone with knowledge of the law in your corner. Keep in mind that you not only need knowledge of the law but might also need to battle the language barrier.
If you are purchasing from a large development, there will almost certainly be lawyers around that have been hired to review the sales and purchase agreement and various contracts regarding that project already and will have experience of the paperwork. You can read more about the procedures of using a lawyer in Thailand here.
As a modern online company, we pride ourselves in taking advantage of the newest technology to providing increasingly sophisticated services to our clients, and virtual tours and virtual open houses are services that are getting increasingly popular.
With our exclusive virtual property viewings, you can inspect properties without physically having to go there!
What are you waiting for, schedule your virtual property today!
Phuket is recognized as one of the most popular holiday destinations in the world, but Phuket is so much more than just a tourist island. As a result, a rising amount of foreigners have fallen in love with Phuket and opted to make the island their permanent home and are as such in need of a residence near amenities like International Schools etc.
If you are one of the many expat families calling Phuket your home and looking for a home near an International School, you are in luck as we have compiled a list of properties suitable for you.
How do we define a family home? We have made the distinction as villas and houses with larger land plots for the kids and spacious living areas to ensure a certain amount of privacy, and that the properties are already built and as such ready to move in. Spacious and well-equipped kitchens are also of course a must for a permanent family residence.
The list is ordered from North to South. Enjoy browsing through the properties, and do not hesitate to reach out to us if one (or several) peak your interest. Can't find what you are looking for? Reach out to us to schedule a personal consultation and we'll put together a list of properties, completely personalized and based on your requirements, or browse through our full inventory of villas for sale in Phuket.
You can find a villa in Kathu which is quite close to International School such as this Loch Palm Villa for Sale.
Thalang - Near UWC Thailand - also near Thanyapura Sports and Health Resort in Phuket.
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Phuket Town / Kathu / Koh Kaew - Near schools like British International School, Phuket, HeadStart International School, Phuket, Kajonkiet International School, QSI International School of Phuket.
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Chalong / Rawai - Near schools like BCIS Phuket, International School of Phuket (ISP) and Oak Meadow International School.
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In this article, we will guide you through the process of how to sell your property in Phuket, Thailand, from the start of listing your property for sale, up until the handover to the new owner.
As we work on commission, it is completely free to list your property with us, and no agency fees are paid until we sell your property. Contact us to find out more about our commission structure.
Note that this is the sale process for clients listing their property with us at Pulse Real Estate, other agencies might do things slightly differently.
List Your Property in Phuket for Sale
You can submit your property for sale right on our website, list your property in Phuket (you can also reach that page by clicking "Sell" in the header menu). There are certain fields with basic information that is required to fill out, but it helps to be as detailed as possible and add as much further information as possible.
We will need copies of documents like your title deed (chanote) and a copy of the seller's ID/passport to ensure that you indeed have the authority to sell the property and to confirm the ownership status.
Unless otherwise stated, our agency agreement is non-exclusive, meaning that you are free to sell your property on your own and list with other agencies simultaneously. We can also work as your exclusive agent, which includes reaching out and offer your property to our email list of 800+ partners on Phuket. Contact for more details on the commission structure as your exclusive agent.
If owners can not provide photos, we can come and take photos. Professional photos and video services can be provided at an extra cost.
If you are not living in the property you are looking to sell (or staying elsewhere in Phuket), we will need the contact of a person holding the key or otherwise can give us access to your property. For houses and villas, this could be a maid or a friend.
For apartments and condominiums, the key can be left with the juristic office who can give out the key to us upon authorization from the owner. To allow for viewings on short notice, a permanent authorization for us to pick up the key would be preferred.
We highly recommend that you ensure that your property in as good of a shape as possible and fresh and attractive for viewings, even if you are not currently staying there yourself. This is particularly important for villas where there is no common area maintenance. An overgrown garden or dirty pool can be a real turn-off for buyers.
When you accept a bid from a buyer, we will produce the Reservation Agreement for you and take the property of the market. It is standard to take a non-refundable deposit from the owner. A standard number for the reservation fee is 5% of the agreed sale price, but the deposit can be anything from 100,000 THB to 20% of the final selling price depending on your terms.
We will work with the lawyers of the buyer and the seller to produce the Sales and Purchase agreement. All the conditions of the deal are to be included in the Sales and Purchase Agreement, including the agreed price, payment terms, which items are included like furniture, kitchenware, etc and any other terms the buyer and seller agree on. We advise both buyer and seller to hire their own independent lawyers to hash out the details, to ensure no unpleasant surprises surface.
The sales and purchase agreement is most commonly signed at the land office, the office at one of the lawyers, or at our office. Copies of documents have to be signed by all parties, but deals can be completed remotely by giving power of attorney.
For the final transfer at the land office to take place, both buyer and seller have to be present or represented by someone with power of attorney. At his point, the property taxes and fees are paid, payment made from buyer to seller (or at a later stage, all according to terms in the sales and purchase agreement), and finally the property is transferred to the new owner.
The turnover time will vary, especially as owners have different reasons to sell their property and therefore will apply different pricing strategies.
Currently, Phuket is a buyer's market, so if you are in need of cash and looking for a quick sale, you probably have to be prepared to drop the price below market value. If the timing is wrong and your asking price too high, a sale might not be achievable without adjustments.
What we have seen is that properties with price discounts are moving faster than ever now during COVID-19 times, as investors are looking to snap up properties. Keep the competition and current market trends in mind when deciding on the asking price of your property.
We at Pulse Real Estate are focusing our marketing efforts mostly online, but we also have two live locations to attract walk-in clients. We have a website with thousands of property listings for sale and rent built on the latest technology, and several thousand users every month, looking to buy and rent real estate in Phuket.
We are also listing our properties across the most popular property portals in Thailand and make use of social media like Facebook, Instagram, and Twitter as well as less known online marketing tools to market our properties. We have been in business since 2013, and have built up a large database of clients and investors to reach out to and target with remarketing when good deals come up.
Now without further ado, let's get to the step-by-step list of selling property with Pulse Real Estate.
Laguna Phuket is Asia's first integrated destination resort, a holiday paradise of deluxe hotels, serviced resort style condominiums, pool villas and luxury property spanning 1,000 acres of tropical parkland. Laguna Phuket offers something for everyone with ample opportunities for fun, romance, relaxation, and exploring, and plenty of luxury homes for sale and rent.
Laguna has a wide variety of housing and apartment projects with properties like Laguna Homes Phuket, Cassia Phuket for Sale, Angsana Laguna Phuket, Allamanda Laguna Phuket, Laguna Sky Park etc. Browse through the hottest Laguna properties on the market below.
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More Homes in Laguna Phuket for Sale
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More Homes in Laguna Phuket for Rent
Whether to be used as a primary residence or a holiday retreat, homes in Laguna offer appealing and incomparable lifestyle benefits. Perfectly situated to take advantage of the area's diverse choice of attractions and amenities, homeowners of Laguna property can enjoy discounts and privileged access to spas, restaurants, recreation and leisure facilities, and the World's Championship in-resort golf course.
The Laguna area offers properties ranging from sea-view apartments, and contemporary townhomes, to luxurious golf course pool villas with an appealing combination of lifestyle gains and return on capital investment. Perfectly situated to benefit from Laguna Phuket's diverse choice of attractions and amenities, all brands of properties by the Banyan Tree Group offer an appealing combination of lifestyle benefits, capital returns, and rental yields, backed up by professional management services. Only 25 minutes from Phuket International Airport, your home in Laguna will be a popular destination for holidaymakers and makes it easy for owners to dip in for a weekend.
Available facilities and activities include spas, restaurants and dining at luxury restaurants like Saii Laguna Phuket, bars, boutique shopping, private charter and join-in luxury tours, daily activities at most Laguna Phuket resorts, canoeing, sailing, golfing at Laguna Phuket Golf Club, and only a few minutes from the pristine beaches of Bang Tao Beach, Layan Beach and where you can find beach clubs like Catch Beachclub, Xana Beach Club etc.
Luxury condos in Phuket are an attractive alternative to a villas or houses as they can be owned freehold which means 100% in your own name the same as you would own property in your home country. In addition, luxury condos usually have their own private pools as well as a wider range of onsite facilities and 24-hour security.
Investing in a luxury condo means the opportunity to live the dream in the most magnificent surrounds available on the island whilst having the security of ownership.
Below is a selection of some of the best available luxury condos in Phuket.
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Just like the rest of the world, Covid-19 has had an effect on the property market in Thailand and in Phuket. In 2020, the virus did not spread quickly in Thailand and there was a low number of hospitalizations and a low death rate. Indeed, it felt like the virus itself was a problem in other parts of the world and Thailand with it’s hot climate remained largely immune.
It was however, the economic impact of the virus that was the most devastating with the country’s famed tourism industry taking a massive hit with 1.5m jobs lost in the tourism sector overall. Phuket being an island that relies on overseas visitors was particularly damaged economically.
By mid-2020, Thailand was closed to outside visitors and we started to see an increasing number of property owners dropping the price of their homes in order to achieve a quick sale.
These sellers were motivated due to an urgent need for cash as a result of their domestic situation back in their own country. It should be noted that we did not see in this period a general downturn of the whole property market on the island as sellers who were not desperate for quick cask opted to keep prices the same or chose to remove their property from an increasingly discounted market.
The property market in Phuket is comprised of primarily holiday homes owned by foreigners, paid for in cash, without any bank financing. Therefore, the dominant market forces at play are; the state of the world economy, exchange rates and the cost of land.
By the time we hit quarter 4 in 2020, there was an uptick in market activity in comparison to quarter 3 as motivated sellers began to be matched up with buyers looking to snap up properties below the market value. Due to the travel restrictions, many properties were purchased remotely. This trend continued to the end of the year and into 2021.
The good news is that going in 2021, there has been an increasing number of discounted properties coming onto the market so if you are thinking of investing and unable to travel just yet, it is not too late. There are still some great deals out there and new ones emerging.
To help you easily locate the property bargains, we have profiled the most heavily discounted properties in Phuket and have ranked them based upon percentage discount offered. Also, useful to know, on our website you will see properties reduced in price ranked higher up in the property search results by default.
This has been the first part of our Covid update for the property market in Phuket; in the next article, we will take a look at the emerging trends and the key things investors should focus on as Thailand re-opens.
Oops! We did it again! We previously won an award for the best real estate agency website in the Asia/Pacific Region.
PhuketCondo.net (now Pulse Real Estate) has now also been named as one of the Best Real Estate Agencies in Thailand by Dotproperty.
We are proud to see our hard work and efforts acknowledged. This award comes with great responsibility for us to keep the standards high and work even harder.
Honesty, integrity, and friendliness are our strongest suits. We will work even harder to deserve your appreciation.
Thank you very much!
Browse through our inventory of property for sale in Phuket, and do not hesitate to reach out for a private consultation with one of our property advisors.
We are proud to announce that PhuketCondo.net (now Pulse Real Estate) won International Property Award, Best Real Estate Agency Website in Asia/Pacific Region.
Amongst many reputable Real Estate Agencies in Asia/Pacific region, IPAX panel of judges decided to choose the Phuketcondo.net website as the best real estate agency website this year.
We are extremely happy and proud to see our hard work is recognized, and this gives us more motivation to aim for better.
Needless to say, this is not the last award we’ve won. We might be a young company, but definitely, we are one of the best agencies in Thailand and we are very proud of it. Thank you everyone for the support. Time to celebrate and work even harder to get some more of these plaques.
Browse through our inventory of real estate for sale in Phuket, and do not hesitate to reach out for a private consultation with one of our property advisors.
Pulse Real Estate (formerly known as PhuketCondo.net) is in the news as the Head of our newly launched Phuket Rental Management Service, Mike Lundin, answered a few questions on the subject of How to Rent Out Property in Phuket.
The online interview was conducted by Asia Property HQ, a website that publishes weekly free articles aimed toward Asian investors who wish to purchase properties abroad.
Pulse 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
