Phuket’s Blooming Tourism
- Phuket gets on average 10% more tourists each year.
- With the growing number of Tourists arriving each year, the International Airport is now able to support 18.5 Million passengers instead of only 12.5 Million.
- Among all 35 Million tourists coming to Thailand in 2017, 6 Million came to Phuket. See statitics here: https://en.wikipedia.org/wiki/Tourism_in_Thailand#Statistics
- The mass arrival of vacation seekers from emerging countries (Malaysia, Vietnam,…) Japan and Big China increased 37% in 2016
- Destination of Luxury Clientele coming from Hong Kong and Singapore (Phuket is only 2 hour flight away)
Why all the excitement about Phuket?
- Tourists come to Phuket every year from around the World to be entertained and Party, to run away from Winter, to savour the exquisite cuisine and enjoy the magnificent natural post card landscapes
- The Andaman Sea offers breath taking views and an ideal seabed for diving and snorkelling (palm hiking, mask, snorkel) around the worldwide known Similan Islands
- There’s an endless list of activities: diving, tree climbing, karting, shooting, elephant trekking, quad biking, windsurf, cultural shows and golf…
- There are 50kms of white sand beaches and clear blue water
- 29 beaches including the 7th most beautiful beach in Asia, according to Tripadvisor: Nai Harn Beach, and 3 others in the top 25: Kata Noi Beach and Karon Beach.
- Phuket is connected to mainland by a bridge up North, which allows exploring the surroundings, including the marvellous Phang Nga, including Railey Beach and Koh Phi Phi. Some sites are classified as World Heritage of Unesco, such as Lake Khao Sok
- The Buddhist Culture is very welcoming and the Thais are smiley and warm people
- No other island in Asia has so much to offer in terms of spectacular landscape and infrastructure.
- The proximity to Asian countries such as China, Malaysia, Singapore and Hong Kong who don’t get to have in their coast the beach and the sea like you get in Phuket
- The presence of a Community of Expats: French, Italian, Australian, English… Phuket attracts families for its infrastructure and quality of life (around 30.000 people)
Amenities of Phuket Island
- The Thai Government invests hundreds of millions each year in infrastructures, it’s the crown of tourism in Thailand
- It’s the top of the line and most desirable island of Thailand. More than a hundred of luxury villas exceeding millions of Euros, and the most prestigious hotels and resorts
- The presence of the biggest hotels in the World: Hilton, Sheraton, Hyatt, JW. Marriott, Accord, Holiday Inn, Movenpick,… (750 Hotels, 50.000 Rooms). These groups, along with their analysts, are confident about the future of Phuket, and they all keep investing billions on the island
- 13 International Schools
- 3 giant Shopping Centres: Jungceylon, King Power and Central Festival, and 2 more under construction including The Garden, built by the developer of Siam Paragon, the most prestigious shopping centres in Bangkok (500 Million Euros)
- 6 Golf courses
- 4 Marinas, welcoming the world’s most prestigious super yachts
- 2 Leisure Ports and 1 Commercial Port
- One train line connecting the North with the South, planned for 2021
Phuket Property Market
- The plots become rare in the prime locations, meaning a high added value for investment in the short term
- Good rental yields between 6-8% per year
- Promoters offering financing and guaranteed return between 6-7% for 2 to 5 years
- No property taxes
- Your profit won’t be known back home as Thailand isn’t part of the G20
- An average budget of $150/130€ per night
- 85% occupation rate in high season, and 72% per year (C9 hotel works)
The possibility of ownership in Thailand
Since the Condominium Act of 1979 revised in 2008, it is possible for foreign investors to own a property. This is the case of apartments in condominiums. Regarding the Villas, it is also possible to become an owner through other means such as a real estate company set up.
It is also possible to have a long term lease of 30 years, twice renewable, summing up to 90 years in total. This lease is registered at land department so the owner won’t be able to evict you under any circumstances. You can sublease the property and used it as you wish, you have the full right of use.
That being said renewal can be complicated in time, so it’s safer to bear in mind the use of the property for the 30 years’ period for sure.