The Phuket property market has experienced a massive growth over the last 10 years or so. Phuket land prices have multiplied many times over and many Phuket property developers and investers and owners of Phuket real estate properties have made very high levels of return on investment.
Experts do forecast a continues growth in the value of Phuket property and land prices so it is certainly not to late for investing into Phuket property or buying land in Phuket.
You will find down below information on a number of popular Phuket property issues and questions. If you are looking into buying land in Phuket or buying a Phuket property then be sure to use the valuable Phuket real estate advice listed in this section of our Phuket guide. For information about renting a Phuket villa during your holiday please head over to our Phuket villa rental section.
Can foreigners buy land in Phuket?
Officially foreigners can participate into buying land in Phuket or anywhere else in Thailand. There are however ways around this problem so that foreigners can invest money into buying land in Phuket and purchasing Phuket property object such homes and Phuket villas.
One of the most used methods by foreigners and their lawyers is to set up a Thai limited company. Although the foreigner can only own 49% of this Thai limited company, the lawyer arranges for all the other shares, which are registered to Thai nationals, to be infact owned and controlled by the foreigner. This is a very common set up in the Phuket property business and people have been using this methods for a long time already when buying land in Phuket.
Another method is that you obtain a thirty year lease on the Phuket land plot which you can renew up to three times. As 90 years is more then enough for most Phuket property buyers, this has become a very popular venue for many foreigners who are buying land in Phuket. You are able to sell the land and Phuket property at any time to a Thai national and they would own the land and Phuket property outright so the Phuket land lease option does not decrease the value of your Phuket land ownership.
Can foreigners own a house in Phuket?
Although foreigners can officially not buy or own land in Phuket, they can own a house in Phuket. The problem of course is that although you might own the house, you are not able to own the land on which your Phuket property is build. The way around this would be the three times thirty year lease or the Thai limited company set up. If you have a Thai wife and want to buy a property in Phuket then you can put the land title in the name of your Thai partner and the title of the Phuket house or villa in your name.
Can foreigners buy a apartment in Phuket?
Yes foreigners can buy a Phuket apartment or condo. The Thai law states that upto 49% of any Phuket apartment or condo development can be owned by foreigners. This is therefore a great sector for those foreigners who are looking to invest into the Phuket property market.
Do you have Questions on Phuket Property?
Ask them at Tripsofa.com for free.