Phuket is one of the world leaders in the development of resort housing. What is the success of the
Phuket real estate market based on? Year-round season, multimillion-dollar flow of tourists and low housing costs.
Unlike Europe, seasonality in Thailand does not have such a pronounced character. In September, the least popular month of the year due to constant rainfall, international arrivals are only 26 percent lower than January, the peak month of the year, according to the Thai Airports Immigration Service. The difference between the rates for
rental housing in Thailand in the low and high season is not as big as in other world resorts. As a result, demand for
apartments in Thailand, in particular in Phuket, is relevant all year round.
By buying an apartment in Phuket and renting it out, you are guaranteed to receive a good foreign exchange income - 7-8 percent per annum. With the right choice of a management company, your
apartment in Phuket will not be idle even in the low season.
The cost of a square meter
housing in Phuket is quite low compared to the global resort markets. It is comparable to housing prices in residential areas of Moscow, Saint Petersburg and Vladivostok. With a budget of 3 million baht, you will have a wide range of offers.
Another important advantage of Phuket over European resorts is low housing costs due to the low cost of services in Thailand. Utilities cost 45–50 baht per square meter per month. This amount includes the cost of maintaining the pool and garden, security and video surveillance, the work of the reception, fitness center, transfer to the beach and back. Maintenance of a one-bedroom apartment 36–40 sq. m will cost 3.8-4.0 thousand rubles a month.
The taxation system in Thailand will also please any investor in
Phuket Property. With rental income of 10-15 thousand dollars a year, the tax will be only 3-5 percent. And there is no annual property tax at all, unlike most European countries and Russia.
