Buying choices for Villas in Phuket
If you are looking to buy villa in Phuket there are several purchase options to consider.
Off-plan properties
Properties marketed as off-plan are ones that have not yet been finished. Off-plan properties may be under construction or in the planning phase. It is best to buy off-plan from a reliable and accomplished developer to not expose the investment to unnecessary risk. The majority of suitable off-plan projects will have demo units for you to inspect. Off-plan properties can make a good investment in the short term as they are sold at reduced prices. With the right purchase properties acquired off-plan can grow in value after the project is completed.
Completed properties
Carrying no development risk are villas that have been completed and are available for viewing. Purchasers are able to check the finished product in detail and take a careful look at finishing and design.
Villas for re-sale
Properties that fall into the re-sale category could be off-plan or completed. Re-sales are second hand properties that are for sale by individuals and not the original developer. Phuket does not have a great deal of re-sale villas on the market as the typical buyers in Phuket are mostly long-term investors and inhabit the properties after the build is finalised. The market for re-sale properties is however a growing market.
Investment Villas
An investment villa is a property that is marketed as an investment because the villa carries a rental guarantee from the developer. Properties that benefit from rental programmes have some restrictions on use because the property will be marketed for rental by the developer. The percentage return ranges from 5% to 8% for anything between 1 to 6 years with yearly owner’s usage of up to 60 days. Each project will vary these details a somewhat.
Today Phuket has more than 3,000 villa owners. In the last decade Phuket has given property buyers an investment that has admirable scope for investment gain. For key areas investors have observed capital appreciation of up to 50% each year. Incredibly, select properties values have risen some 100% after completion.
