Haris & Associates Phuket Thailand Legal Blog

More and more people are choosing to buy properties in Phuket, Thailand. Phuket is one of Asia’s most sophisticated and most established property markets. Over the past twenty years, property developments have been sprouting around the island that heightened the influx of investors. Currently, the demand for properties is high, especially in newly developed areas of Surin, Bang Tao Beach, Layan, Cherng Talay, and the coastal areas in the southern part of the island.

Compared to traditional areas, Phuket boasts an assortment of options to property investors, whether they are looking for apartments, condominiums, villas, or residential houses. Property investors will not run out of affordable options. Although most part of the development in Phuket is designed for the wealthy, there are affordable properties that stretch over the bays of the island’s west coast.

Reasons of Investing in Phuket

There are many reasons why people choose Phuket as a property investment opportunity. Whether they are looking for a permanent home, a holiday getaway, or an investment opportunity, the primary reasons in considering a property in Phuket can be classified broadly as leisure, financial, and social.

1. Leisure and Culture – Phuket is home to some of Asia’s island resorts that boast stunning natural surroundings combined with extraordinary facilities for guests. It is home to idyllic beaches and unscathed rainforests, making it a perfect destination for pleasure seekers, extreme sports junkies, or food connoisseurs. Properties in Phuket have something unique to offer to everyone who wants to imbibe the authentic culture and experience the exceptional relaxation.

 2. Financial Opportunity – Phuket is one of the premier tourist destinations in Thailand and is recognized as one of the wealthiest provinces in the kingdom. The Thai government realized the value of Phuket in the kingdom’s entire economy. Phuket remains as one of the commanding presence, in terms of investment opportunities. This makes Phuket one of the leading choices of individuals who want to have a piece of property in one of the fastest-growing economies in Thailand.

 3. Social and Economic – The island’s economy is one of the lowest costs of living cited, all over the globe. Compared to other western countries, Phuket has become one of the most attractive choice for people who want to retire because it remain to be the most comfortable and modest place to live. Phuket is the core location for many infrastructure developments in the recent years. Additionally, Phuket offers high standards of healthcare services at very reasonable price.

Buying real estate properties in Phuket

As a foreign buyer of properties in Phuket, you need to hire a Phuket property lawyer in order to understand the intricacies and requirements of investments. Your investment lawyer will help you understand any legal impediments and help you secure the necessary documentation to institute the sale. When you hire a Phuket property lawyer, you will be given a degree of assurance that you are getting the correct property, free of claims from other parties, even before you negotiate the contract. Your lawyers become useful to check the boundaries and outline the necessary documents to effect the sale.