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How to buy property in Phuket

Phuket, Thailand
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Buying Property in Phuket

Your own housing in Thailand is a reality!

It’s impossible not to fall in love with this country of smiles. Warm climate all year round, a variety of exotic fruits, amazing nature, entertainments for every taste and affordable prices - all this attracts tourists to Thailand. In addition, intensively developing resort areas attract tourists for the purpose of earning, as the purchase of housing in Phuket is one of the most profitable investments.

However, the process of buying property in Thailand may seem difficult and complicated, without knowing the real estate market and the Thai law it can cause a lot of troubles. In this article we will tell you how to buy an apartment, house, or villa in Phuket, and what you need to know before buying.

How to buy an apartment (house) in Phuket

Search of a building object and choosing a seller

The real estate market in Thailand is full of diverse offers. The main types of housing in Phuket are apartments in condominiums, houses and villas. The price per a square meter starts from 50,000 THB and more. Most objects are fully furnished and equipped with everything necessary for life.

Apartments in condos in Phuket are situated in multi-storey buildings with its well-groomed territory, swimming pool and gym. The apartments can bestudios, one-bedroom and two-bedroom. In the studio, the kitchen is combined with the living room. There is often no kitchen in the studio, only a small electric stove is installed. This type of housing is popular among local residents, as the Thais practically do not cook at home. One-bedrooms and two-bedrooms are fully-fledged apartments with one or two bedrooms and a separate kitchen. Please note that pets are often not allowed in condominiums. The cost of apartments in the same condo can be different depending on the layout, arrangement and view from the windows. A view over the Andaman Sea may increase the cost of the apartment.

Phuket houses of various sizes are built on land plots of various sizes. They can be single-story or multi-story, include several bedrooms, a garage, a living room, a dining room, a veranda. The number of bedrooms and bathrooms depends on the size of the house. The houses are located in the territory of protected villages, usually there is a common pool, children's and sports grounds, shops and sometimes cafes. Your children can ride bicycles, skateboards and just walk in the village, being completely safe. This type of property is also suitable for animal lovers.

Townhouses are 2 or 3-story buildings. On the ground floor there is usually a store, a company or a cafe run by the owners of the house. And the second and third floors are living rooms, with all amenities.

The villa is the most elite type of property in Thailand and in addition to a huge beautiful house includes an equipped area with a garden, a swimming pool, a sports ground for golf or soccer. There are barbecue areas and children's rides. The villas are ideal for seekers of privacy and tranquility.

The price for housing depends not only on the type, but on the location and district. The cheapest accommodation in Phuket can be found in Phuket Town. Surin, Nai Harn, Mai Khao and Rawai districts, where the most beautiful beaches of the island are located, are the most popular areas with new buildings. It is quite difficult for a foreigner to choose a worthy and suitable option from the whole variety. Real estate agencies, which receive income not from buyers, but from developers, will help to figure this out. But the choice of agency is also very important, it is guided by the duration and legality of the company (availability of a license), customer reviews, the presence of an office and the company's official website.

Phuket Real Estate

Contract signing

This is the most important moment which demands the knowledge of local laws and the Thai language. With the support of Phuket Real Estate Gallery specialists, you will quickly sign the right contract, taking into account your own expectations and needs. Professionals of this company will help with the preparation of the necessary documentation package and the choice of area and even after signing the contract they can offer real estate management at a distance.

Before buying, check with the seller for what quota (local or foreign) the property is for sale. The number of documents and the process of registration of ownership depends on which quota this property belongs to - Thai or foreign. According to the law, 49 percent of housing can be owned by a foreigner in a private name, the remaining 51 percent is Thai quota. The result of buying a housing under a foreign quota is getting Chanot - registration of ownership of a foreign person.

To purchase a property under the Thai quota, you will need to register a company in Thailand, the founders of which will be you and a Thai citizen. Then the real estate is issued to the company and the Thai owner writes a waiver for this property, so you become the only owner.

In order not to have problems when buying established real estate, ask to conclude the contract not only in Thai but also in English.

The security and transparency of the transaction under the guidance of professionals from Phuket Real Estate Gallery is guaranteed. Experts will tell about all the advantages and disadvantages of the object, warn about all the "pitfalls". If you are interested in renting, Phuket Real Estate Gallery specialists will also help you find the most profitable options. At our website, you can apply for a free consultation or a free transfer to the Real Estate Exhibition in Phuket.

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