Phuket, a popular tourist destination located in southern Thailand, is known for its stunning beaches, crystal clear waters, and vibrant nightlife. In recent years, the island has also become a hot spot for real estate investment, with land prices steadily increasing.
The price of land in Phuket varies depending on its location, size, and accessibility. The most expensive areas are those near the beaches, with prices ranging from 10 million baht per rai (approximately 1,600 square meters) to 100 million baht or more. The prime locations for investment include Patong, Karon, Kata, and Kamala Beach.
In addition to beachfront properties, there are also many opportunities to invest in land located further inland. These properties can range from small plots suitable for building a single house or villa, to larger plots suitable for development. The price of land in these areas is generally lower than the beachfront areas, with prices ranging from 2 million baht per rai to 10 million baht or more.
Foreign investors are allowed to own land in Thailand, but there are some restrictions. Foreigners can only own land through a leasehold agreement, which allows them to use the land for a set period of time, usually 30 years, with an option to renew the lease. Alternatively, foreigners can set up a Thai company and purchase land under the company's name.
Overall, land prices in Phuket are expected to continue to increase as the island's popularity as a tourist destination and real estate investment hub grows. However, it is important to do thorough research and seek professional advice before investing in any property to ensure a successful and profitable investment.
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