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Condominiums in Phuket

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Condominiums in Phuket

Choosing what property to buy in Phuket, many foreigners select a condo. Cozy apartments in modern complexes are easy to purchase and documents are easily processed. Condominiums attract with excellent living conditions. Stylish design, the presence of a swimming pool, sports hall, playgrounds and much more on the protected territory - what else is needed for a perfect holiday? In addition, buying a condo in Phuket is also a reliable investment with a guaranteed income. In our article we will tell what a condominium is and what the features of living in it are.

What does condominium mean?

The legal term "condominium" means a certain form of ownership and disposition of common property. Moreover, the concept of "condominium" can be applied both to a separate building and to a complex of houses with a common territory. Each owner of an apartment in a condominium automatically becomes a co-owner of the common property of the complex. The common ownership mainly includes swimming pools, gardens, playgrounds, fitness rooms and other amenities for all residents.

Management and maintenance of the common territory is carried out by the association of apartment owners in the condominium. The Association adopts a charter, which includes the rules of residence in the complex, the procedure for payment and the size of funds for the maintenance of common property.

The sum for the maintenance of common property is called a condo fee and is paid monthly by all owners depending on the number of square meters they own. Every year condo owners pay a maintenance fee - these funds are used to maintain the real estate. One of the advantages of condominiums is that all owners of apartments equally share the costs of maintaining common property. It is more profitable than to pay a large amount regularly by yourself.

Features of living in a condominium

For those who plan to purchase a condo or rent it for the first time, it will be useful to learn about the rules for living in such complexes.

All the problems which may arise during your staying in the condo can be easily solved at the reception or by contacting the management company which provides services to the complex.

Despite the fact that the territory of the complex is protected and absolutely safe, you shouldn’t leave your things (for example, bicycles, strollers, etc.) at common places, so as not to disturb other residents.

Please note that pets are not allowed in condominiums. If you are going to the island with your pet, you should consider other types of housing, for example, houses or villas.

The Thais are very careful about ecology and environmental protection, so each complex has a separate garbage collection. Waste sorting containers are located in each building.

Other rules and features of living in condominiums can be found directly in the charter of the complex.

Rental income

Quite often, developers offer profitable investment programs for foreigners. Programs mean that when buying an apartment you can indicate in the contract period when you plan to live in your house, and the rest of the year the company is obliged to rent out your condo and transfer to your account a percentage of the profit. The rate of return varies from 7% to 10% from the cost of housing and depends on the number of payments and the duration of the contract. Such offers are very beneficial for investors and help to earn on real estate without any problems. All issues related to the search of tenants, support of housing in good condition, collection of fees, conclusion of contracts are undertaken by the company of the developer, which is very convenient!

Condo Prices

Prices for a condo in Phuket depend on several factors, including the size of the apartment, its amenities, the area of ​​residence, proximity to beaches and others. For example, the cost of apartments in new 777 Beach Condominium, which is located a kilometer from the sea on Mai Khao Beach, starts from 1.65 million THB. A condo in the chic VIP Kata Condominium complex on Kata Beach will cost from 3.5 million THB. Fully equipped apartments with all necessary furniture and appliances in Aristotle Condo Surin Beach cost from 2.7 million THB. The cost of apartments in the Calypso Garden Residences family complex in the south of the island starts from 3.9 million THB.

In order to find the best offers from developers and correctly execute all the necessary documents, you can contact the Real Estate Gallery in Phuket. If you are interested in buying a condo or any other property on the island, you can order a free transfer to the Real Estate Gallery and get answers to all your questions. Take the first step towards your dream!

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