Residential Properties in Phuket
There is a wide range of residential properties in Phuket; “well, aren’t all properties residential?” I hear you ask. The answer is “yes” but a part of the Phuket property market is geared more towards investment properties, namely condo units managed as hotels providing owners with hassle-free passive returns on investment. These units tend to be smaller and although some are bought for residential use, the majority of buyers purchasing a property for full-time residence usually opt for larger one or two-bedroom condos, sometimes a penthouse or a duplex or a stand alone property such as a house or a villa.
Houses and Villas in Phuket
There is a wide range of available houses, villas, and other types of properties in Phuket. There are some new boutique developments with a small number of villas incorporating modern designs and features. Buyers choosing a stand-alone villa have many re-sales to choose from which often incorporate Western styles and designs. Importantly, with older properties, you are generally able to get more ‘bang for your Baht’.
Condominiums in Phuket
The advantages in choosing a condo as a residential property are that it can be owned freehold in the buyer's own name plus owners will usually have access to a wider range of onsite facilities such as a swimming pool, gym, shuttle bus, a reception, and perhaps a restaurant as well as 24-hour security.
Smaller sized units in condominiums are possible to live in as a single person, and of course low cost, but many couples feel 30-35sqm is suitable for living in shorter periods only and in choosing a property to live in full-time generally larger units beginning at least 45sqm are preferred. Various unit types and styles are designed with residential buyers in mind such as duplex, penthouse, and pool access units.
In the vast majority of condominium developments, there is a range of unit sizes and types ranging from studios, one-bedroom, two-bedroom units and sometimes three-bedroom units. The average prices of new condominiums in Phuket average a little over 100,000 THB per square meter so it's easy to do a quick calculation to see how many square meters your money will get you.
In the resale market, there are some bargains to be had. Buyers that are willing to consider an older property that may require some imagination and renovation will have a good chance of securing a larger living space. Condos without sea views which are slightly away from the main resort area can be picked up for a considerable discount per square meter in comparison to newly built condos.
For those aiming to spend 15m THB and up there are some stunning luxury condos available which amongst the most breathtaking properties in Phuket.
The property market in Phuket offers a wide variety of options for investors looking to buy a property to live in full-time or part of the year. Phuket remains a top choice lifestyle destination and the quality and range of properties available is increasing all the time.