Phuket is Thailand’s most well known island, off of the Andaman Coast of South West Thailand. It is hugely popular with holiday makers, people retiring to sunnier climes and expats for holidays and long summer breaks. Direct flights are available from Bangkok, Singapore, Hong Kong, Malaysia, Samui and Chang Mai. The Phuket property market is now well established, but buyers are becoming more discerning, so our Developments focus on both design and quality of build, yet are priced very competitively. We have selected developers that have reputations for delivering top class properties and meeting the ROI projections for investors.
As far as investing goes the highest priority is intrinsic market stability and tenacity against external economic fluctuations. Phuket ticks all of the right boxes on that score. The island has developed its appeal for investors by having gone through the notorious Asian economic crisis in the late 1990′s and come out of it relatively unscathed. Such effects as it endured were rather superficial.
Property values in Phuket remained strong throughout that troublesome economic episode, despite the fact that Thailand property prices in general were going through a momentous downswing. Even after the tragic 2004 Indian Ocean tsunami, which caused the loss of thousands of lives and billions in damages, following an initial, rather swift shock, property prices have continued to rise roughly 20% per year for the last five years.
The Islands has developed its appeal for investors by having gone through the notorious Asian economic crisis in the late 1990′s and come out of it relatively unscathed.
It is expected that Phuket property prices should remain on a rising trend at a similar growth rate, if not higher, well into the foreseeable future. Also factored into Phuket property market strength is the governments retirement visa program that came into effect during the last decade, which made possible the issuance of permanent residence visas for foreigners over 50 years of age, even if they are still working in their home countries. The enacted law has opened up Thailands welcome door to retirees from Europe and North America, As a result, it has generated a massive influx of property demand from buyers around the globe.
One the rental side of the scale, it is predicted that returns will also remain on an upswing, Rental condominiums and villas should keep enjoying constant high demand as more retirees from Europe flock to Southeast Asian countries for more affordable retirement and high living standards, Incidentally, as Phuket is now one of the world’s top destinations, more vacationers are visiting the island and some are opting for the privacy of a rental property over a hotel room, especially among upper-end vacationers. With the annual visitor arrival number at around 5 million and forecast to keep growing steadily, there is definitely more room for holiday rental demand to grow.
Compared to Europe and America, or even other established Asian cities the region like Singapore and Hong Kong, Phuket presents a more sensible option for retirees and vacationers due to the lower costs of property and living. Most prominently, what Phuket has – tropical landscapes to die for, year-round warm weather and plenty of outdoors activities to keep anyone out of the daily doldrums – no other city in the region can match. It all leads to only one conclusion – demand for property and real estate market growth in Phuket are not going to slow down any time soon. Beyond doubt, Phuket has become one of the worlds leading and most stable property markets.
Asia First in Phuket
Asia First specializes in Phuket premium lifestyle & investment properties. Our boutique phuket agency was created to make your search for the perfect Phuket investment property easier and more effective. Our focus is mainly on the main West Coast of Phuket island, where the most scenic areas of the island like Kamala Beach, Surin Beach, Bangtao Beach, and the Laguna resort area lie, as well as the area to the north of Phuket called Natai Beach, which is known as the “Hamptons” of this region. This narrows the scope of your search for your Phuket property.
Our range of properties is extensive. From our collection, there is bound to be an ideal Phuket property that suits you perfectly. Ranging from 1-bedroom investment apartments to luxury villas, exclusive land plots, beach properties, only a small selection of what we have to offer is listed on our website. To look for that one Phuket property that meets your budget and lifestyle, please contact us today for a private appointment.
We have a number of listings including discreetly marketed exclusive properties, particularly properties with a sale price above US$600,000. We also have a small number of superb building and development plots that include absolute ocean-frontage at Natai Beach just 15 minutes from the airport, plots with panoramic ocean views, individual homesites on the Kamala headland and plots that enjoy the full rolling vistas of the East coast plantations and the Islands of Phang Nga.
Retirement in Phuket
In July 2013, Fortune magazine voted Phuket one of the Worlds top 5 retirement destinations. No surprise to anyone who has been there. Literally thousands of expatriates live in Phuket, a goodly proportion of whom are retirees. Phuket got the accolade from Fortune for a variety of reasons, including its comparatively low cost of living (only a third the average of major European cities), warm tropical climate, well developed international standard facilities and infrastructure. Security, friendly community, and proximity to modern cities around the region.
Today, Phuket offers a unique combination of economic security, accessibility, low cost living, modern day conveniences and, to top it all off, buckets of laid back resort town charm.
Such are the factors that appeal to modern expats and financial investors from around the world.
Yachting in Phuket
It’s worth noting that Phuket is an established name in the yachting world. Since the island is a selected stopover on the global yacht routes, sailors who circumnavigate the globe have become impressed with its unrivalled natural beauty, thus spreading its reputation. Granted, the modern world’s faster and more economical commercial routes have diminished Phuket’s significance as a sea trading post but for modern seafarers whose nautical appetites are not commercially motivated, the island is had and shoulders above other destinations within the region.
The significance of Phuket within the high life of the yachting industry is clearly represented by the annual International Phuket King’s Cup Regatta, which is one of the international yachting circuit’s most prestigious events. First launched in 1987, it became a major attraction almost overnight.
There are currently three marinas on the island with a total capacity of 520 berths, namely, Boat Lagoon, Royal Phuket Marina and Yacht Heaven. The marinas also attract other businesses and services that normally come with the exclusive sport, including housing projects, transportation and retail business.
Kamala and the rest of the surrounding north-west area represents a rising location for luxury development, with the Millionaire’s Mile offering large land areas for high-end property construction. As Asia is slowly turning into a major cruising attraction rivalling the Caribbean and Mediterranean, thanks to its less crowded sailing waters, therefore it will be interesting to witness Phuket metamorphosis into a superyacht marina. As more individuals in the region can afford to spend increasing sums for superyachts, Phuket’s status as an attractive sailing destination, due largely to its marinas and the wonderful islands in its proximity all show potential for enhancement, which will also help the luxury property market advance. The brand is synonymous with luxury.” The entire Phuket, Phang Nga and Krabi area looks to have the potential of becoming the world’s most important yachting destination, having Phuket as a main hub.
What really underlies Phuket’s economic status is the fact that, unlike other tourist destinations in Thailand, the visitors are higher end. When your clientele arrives on vessels worth millions of dollars, demand for better class goods and services flows proportionately. It may not be close to French’s Saint-Tropez yet, but who knows? Consider the economic outlook in Europe and, given the gap may narrow faster than some folks think.