Things to know before buying property in Phuket
Know what you want
There is something for everyone in the Phuket property market. From one-bedroom condos in the busy party areas to 8-bed luxury villas overlooking the stunning Andaman Sea. Each offers something different, and you need to ask yourself why are you buying in Phuket? What do you want to do with it? Are you looking for a high rental return or somewhere for you to use 6 months of the year? Knowing what you what is key to starting your search for the property in Phuket that best suits your needs.
Always use a reputable real estate agent
Over the years real estate agents have come and gone from Phuket. The key thing when you are buying property in Phuket is to make sure you use a reputable agent. One like Zest Real Estate, that has years of knowledge as well as one that knows the local markets. Agents can also help with, tourist demographics and local facilities and also help with the negotiation and pricing. Agents over the years have learned to speak your language, and agents such as Zest Real Estate has a team that can speak 5 different ones.
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Know where you want to buy
West coast Phuket
North, East, South or West? Overlooking the Andaman sea or the limestone karst of Phang Nga Bay? On the beach or on the clifftop? Quiet area or crazy nightlife? Close to the shopping malls, or in walking distance to Phuket Town? There is really something for every Phuket property buyer on the island. Do your research and know where you want to buy. If you’re looking for a good rental return then condos in Patong and Karon are popular choices, but you can also get some great returns from luxury villas on Natai beach, which is just off Phuket and only 20mins from Phuket International airport. Facilities are one of the key factors in the popularity of locations and with attractions like the new Blue Tree opening in Cherntalay as well as the new central project Porto de Phuket, this area is becoming a strong investment area with some new and existing condos and villas on the market.
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Do your due diligence
Due diligence is one of those terms that you may understand on the surface but don’t know how to put it into practice. The dictionary definition of due diligence says that it is “the care that a reasonable person exercises to avoid harm to other persons or their property.” Simply put, due diligence means doing your homework. Before investing any funds on anything, you should make yourself an expert, or at least talk to the experts. Do not skip this part.
Use a lawyer
Get legal advice throughout the whole process of buying your Phuket Property. There are a number of trusted lawyers that have been working in the Phuket property market for years and they have good knowledge of the local markets and are able to understand what the common problems are when buying a property.
We recommend theses lawyers:
Contact us now to talk about your next purchase in Phuket
