New wave of luxury villas in Phuket
Phuket is a meeting point for people with different views from various cultures. Today it has formed some kind of community with a very vivid and rich social life. Buddhist culture has taught Thai people to be very hospitable and cordial towards every guest.
A typical representative of thai people is a person without any complexes who is used to be in a good mood, not to worry about daily trifles and to enjoy every moment of life. Thai is why living on the island is so attractive for foreigners tired of busy big city life.
Moreover, real estate prices are extremely pleasant, you can buy a luxury villa in Phuket at the price of a flat in Europe. That is why purchasing real estate here is very popular today.
Many investors choose Phuket luxury villas with investment purpose. To make the entire process of buying property in Phuket and in Thailand in general smooth and painless, you should pay attention to some features. One of such important things is that a foreigner can buy a villa, Thai authorities even allow citizens of other countries to take a mortgage in a local bank. But the Thai laws prohibit foreign buyers to register a land ownership. The only way for abroad clients to become the owner of the whole real estate included the plot of land is to set up a thai company which will buy the land. Then the company, even if it is not engaged in commercial activities must submit its balance sheet annually and present a tax report twice a year. Of course, buying a land the owner of the company is obliged to pay a fee to the Treasury because land tax in Thailand is not paid as long as the land is used for private use, not for commercial purposes. The official document confirming the land and property ownership serves one of titles certificate which is given in the Land Office of the province.
Nowadays, a lot of people prefer buying villas on the beautiful island not for permanent residence, but keeping the idea to resale or lease them. Because their key clients are visitors for a short term, these investors prefer touristic regions with fantastic sea views.