Reasonable investment in Phuket real estate in crisis
Today it is not a problem to find property for sale in Phuket, the question is whether it is worth buying it at this time. Some of analytics say in 2016 there will be lowering prices for Phuket villas. The main reason of it is a decrease of purchasing power parity.
The current real estate market in Phuket is saturated, but it is a quite positive time for potential investors because just financial crisis can offer them such pleasant present. Any economy crisis gives buyers a great opportunity to obtain high-quality liquid property with a very good discount. These days the price may be reduced by 10-15 per cent if it comes to a housing which is in almost excellent conditions, and by around 20-30 per cent if a dwelling needs to be repaired. As for brand new units, nowadays developers are pretty flexible in price questions and also make crazy sales.
Let us share with you one very reasonable and useful tip concerning your future buying. During the crisis it is necessary to wait for that moment when every holder wants to sell a property but there is no one who desire to pay money for it. This moment is called “rock-bottom price”. Now you can and should purchase the unit. We hope you see that the crisis is the best time to buy real estate in this popular resort. Many foreigners who have just arrived in Phuket ask: What should I buy first in crisis: a car or a house? The answer is evident: if you have money you had better take a villa or an apartment, the point is that the market price of any car will only be reducing year by year, but the price of housing will increase after the crisis is over.
However, people who have decided to take too long time to think waiting for better proposals are risking to miss the right moment for buying property on this beautiful island. The truth is the market will become stable soon and it will be impossible to get such “tasty” rates any more.
In general, professional real estate experts have concluded that currently it is extremely profitable to buy apartments or villas in Phuket because the market is still on the buyers’ side.
