Can foreign nationals buy new homes in Phuket?

Foreign nationals can buy new homes in Phuket, choosing either freehold or leasehold as the form of ownership. Apartment in condominiums can be freehold (fully owned), provided that foreign nationals own no more than 49% of the area in this condominium, or leasehold (rented for long terms). When interested in buying property , the foreign investor has two options: having a new home on leasehold for 30 years (the term can be renewed twice) or purchasing the property through a limited company.

What is the average cost of a new home in Phuket?

The cost of a new home in Phuket ranges from $86,000 to $4,760,000. The average price per square meter in Phuket — $3 055. Now we have 54 offers of new homes in Phuket.

What are the most popular locations for buying new homes in Phuket?

Patong is the most famous beach in Phuket. Laguna District is a resort in northwestern Phuket, famous for its luxurious hotels and villas. Other popular beaches include Kamala, Karon , Surin, Nai Harn, Bang Tao . There are many condominiums that attract property investors and buyers. The areas of Phuket are constantly evolving and being built up. As there is not enough vacant land on Phuket, new homes will appreciate over time.

Why invest in new homes in Phuket?

The reasons for investing in new homes in Phuket are as follows: Phuket island infrastructure is developing; some medical facilities and hospitals in Phuket meet international standards and attract tourists interested in medicine; breathtaking views and beaches are known all over the world; rental returns – the recovery of the funds spent on buying the new homes through its lease: thanks to the lengthy tourist season in Phuket, the rental demand is almost year-round.

Can I earn money by renting a new home in Phuket?

New homes in Phuket are in great demand among tourists and buyers. With the year-round tourist season you can have a great rental income. There are many projects with guaranteed returns of 7–10%. Management companies provide full new home maintenance service. You can also use your new home as a holiday home for 2–4 weeks a year without losing income.

How long can I rent my new home out in Phuket?

Phuket has a year-round tourist season. October through April is the high season without rain, and this is when most f tourists arrive. May through September is the low season characterised by short tropical rains, but even during this time the air temperature does not drop below 30 degrees.

Can foreigners take out a mortgage to buy a new home in Phuket?

Thai banks do not provide mortgage loans for the purchase of a new home in Phuket for non-residents. Moreover, foreign nationals can´t get a bank loan for any purpose.

Can foreigners obtain Thai citizenship through a new home purchase in Phuket?

Permanent residents can apply for citizenship. Thailand citizenship allows you to buy a new home in Phuket, own any business and apply for any kind of job. You can apply for Thai citizenship: residence in Thailand for at least five years; permanent employment; to be married to a citizen of this country; your baby was born in Thailand. Children born to parents with Thai citizenship automatically get citizenship regardless of where they were born. In order to obtain Thai citizenship, you must renounce your current nationality.