If you purchase a property on the island Phuket – you get highly comfortable residential real estate. Almost all the developers are trying to create maximum comfortable conditions for future owners and offer such internal facilities as swimming pools, gyms, free parking, garden, etc. As a rule you should not worry about the furniture and household appliances, it’s been already included in the price of property, or canbe bought from the developer at a reasonable price. So you can start living in your appartment straight away not bother into find and install furniture, kitchen appliances or pieces of decor.
Another advantages of getting a property on Phuket island are favourable location and comfortable climate.
Warm tropical sea, beautiful weather, tasty fresh exotic fruits, warm tropical climate will help you to feel happy during your stay in Thailand.
At the same time, Thailand is a very comfortable country to live in, thanks to its climate, proximity of the sea and well-developed infrastructure. You will find here good international schools and kindergartens, hospitals with well-qualified medical services and modern equipment. Thailand has good quality roads that allow to travel with maximum comfort inside the country, a lot of attractions, supermakets with a wide range of products as well as good airports that give a neasy access to travel around the world.
Property market of Thailand has a wide range of offers to satisfy any budget. These are investment properies, as well as properties for for permanent stay in the country. Surprisingly, these two kinds of property often does not mean the same. The best way to choose a property that suits you and comply with your goals is to turn to professionals of the market.
Even an inexpensive property in Thailand can bring a good profit and help you protectyour savings from inflation and economic crisis. Investors from all over the world choose Thailand to place their money. It concerns new developers'projects and to the second property market.
Pros and cons of the new developer property.
For the time being almost all the developers of Phuket and Pattaya are offering their clients the programmes to return investments with a profit up to 14% of the annual. Developers can guarantee such a good rate thanks to a hight and steady demand for rental property during a long period of time.
Meanwhile the owner of the property does not search for the clients and doesn’t runthe property. All the care and management of the property is carried out by the developer, the owner gets profit from the investment every year.
One more edge is interest-free payment by instalments till the end of construction. There's no need transfering all the amount at one go, or getting a loan or a morgage to buy a property. Often the developers are ready to consider individual terms and conditionsfor payments available for a buyer.
You can get receive revenuesfrom rent only after construction have been finished.
It’s impossible to see the final result within the term the construction is being done. So it involves a certain risk of investments.
Pros and cons of the secondary property market.
Buying a property on the secondary market – you get a final product. It means that you avoid all the risks which could arise than you buy a property under constraction. At the same time you can find an offer with a very attractive price.
In case of buying this kind of property, you will not have to wait for the finishing of the construction and you can start living in your appartment or get a rental income immediately.
In most cases the real estate of the secondary market is sold completely furnished and you don’t need to suffer additional expences.
As a rule, there is not investment refund program.
No interest-free payment by instalments is available. So you have to pay the full amount in advance.
Developers working in Thailand on the island Phuket have a responsible approach to implementation of their projects. Even inexpensive housing is built according to high quality standards. Class luxe projects could be considered the standard of high quality construction.
The projects of thai developers take part in international exhibitions. Property in Thailand has already generated interest of investors from different countries:
- Europe union
- The USA
- Countries of Asia region, in particular Singapure and China
Condominiums in Phuket.
Having a property in Thailand you can live there permanently or stay during vacation in your own apartment and take advantage of all aditional services and features of a condominium.
Property in Thailand is noticeably win because of well developed internal infrastructure and comfortable apartment planning for even inexpensive projects:
- apartments are located in one of a high building with common area
- all projects have a private free parking area for residents
- access to the building by security keys
- round-the-clock security
- common area with a free wi-fi and comfortable furniture.
- cleaning service
- a management company, which solve all domestic issues and personnel management
- video surveillance system
- internal infrastructure including swimming pool, gym, garden, playground, etc.
Most part of features are available in any condominium, even if you decide to buy budget property. More expensive projects usually have a better international infrastructure and may include tennis courts, library, sauna, spa and restaurants.
The equipment of standard apartments from the developer.
New apartments are sold with finishing, built-in furniture and plumbing. In some cases, apartments could be fully furnished. But you can order apartments without finishing from the developer if you want to create your own interior design.
After getting the keys the owner can make whatever he likes with the exception of changing apartments plannnig which includes a moving or a removing of walls inside the apartment. If you want to have apartments with bigger living area possible than offered by the developer, you can make an agreement to combine several apartments, or to make out individual planing of certain apartments with a developer on the stage of construction. Some developers are ready to meet your demands make changes in the apartments layout plan.
Taxes and fees effective in Thailand in case of property purchase.
Taxes are calculating on the base on the estimated price of purchase, which is mentioned in the purchase agreement.
- registration fee - 2%
- Business fee 3,3% (in case of purchasing second market property, if the previous owner of the property had owned it less then 5 years)
- Heraldic fee - 0,5% should be paid in case if the business fee is not collecting.
Usually, buyer and seller are paying taxes in equal parts.
All these payments are one-time and should be paid in case of purchasing any property in a freehold. In case of leasehold, the taxes will be less.
Also should be paid a payment for a maintenance, in particular for common areas, maintenance of internal infrastructure, necessary repairs, security guard, etc.
You can get a free consultation about property purchasing from our specialists. Our specialists will inform you about prices and recommend the most suitable to your goals projects. We also can organise views of projects which will be interesting for you as from the developer as on the secondary market. We will explain you all details of the purchase and will help you to avoid all the pitfalls. Our company is working with the best lawyers that will help you to make any deal without risk.