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The island has not only been a popular destination for tourists,
but for expatriates alike. Businesspeople, retirees and families
choose Phuket
either as their permanent home or vacation home for a variety of
reasons.
Firstly, Phuket international airport offers daily direct flights
to Bangkok,
Singapore,
and Hong
Kong. Thus, expatriates working in Hong Kong or Singapore, for
instance, can easily reach their homes in Phuket
to spend the weekend with their families after a week's hard work.
Undoubtebly, the fact that Phuket is also connected to the mainland
means that people living here, unlike other islands, have the possibility
to travel easily to the mainland whenever they feel like getting
away.
Phuket, however, has more things to offer. With a few international
hospitals to cater to health issues, families and retirees find
it a safe and secure place to be. In addition, families with children
benefit from the existence of several international schools to choose
from. Internet and digital communication is easily available, and
satellite TV connects one to the world community.
There is actually plenty to do here. With two marinas, Phuket has
established itself as a sailing hub within the region, with a constantly
growing community of sailing enthusiasts. Golfing being yet another
attraction, Phuket
is abundant with world class golf courses and many a golfers visit
the island to enjoy their favourite past time even for a weekend.
The position of the island itself makes it easy to cruise to the
surrounding islands for either snorkeling, scuba diving or just
pure fun!
In an interview some time ago, Mr. A. Lark, ex-manager of the Amanpuri
Resortl and developer of Trisara
and Layan villas, explained that, apart from Europeans, there are
many expatriates from Hong Kong and Singapore who move to Phuket.
If one compares housing prices in those countries to those here,
it becomes clear why. In addition, operating as well as living costs
here are considerably lower than in Singapore or Hong Kong. The
fact that Phuket
is an in-between point incorporating Asian atmosphere and flavour
with western amenities and style is reinforcing this trend. Phuket
property developers understand this niche and 'strive to provide
a lifestyle', as Mr. Lark puts it.
According to Mr. W. Graham, General Manager of Andrew Park, Andaman
Ltd. property and land consultants, another aspect that makes Phuket
a desirable place to buy property is the fact that Thailand is a
more stable country compared to others in the region, and therefore
inspires more security than elsewhere.
What is the trend of property development though? Mr. Lark points
out that although developers in the past disregarded nature, nowadays
the existing environment is taken into consideration and attempts
are made to incorporate it into the building plans. Further emphasis
is placed on ongoing management, with developers currently offering
their services to property owners, services that extend beyond maintenance
of the property, but include renting the property out at the owner's
absence. Indeed, the trend nowadays seems to be towards leasing
luxury villas on a short-term basis to people who would normally
book their holidays into a hotel. Property owners increasingly opt
for this kind of lease that allows them to enjoy their home while
on Phuket, while simultaneously gives them the opportunity to recoup
their investment.
As far as the value of property is concerned, Mr. Graham explains
that 'it's relatively easy to lease land and to resell
it if needed'. A number of property developers agree with this
statement, given the fact that land value does not devaluate easily,
as Mr. Nassau, General Manager of Blaauw & Nassau Real Estate
Agents points out. Prices differ, of course, in relation to the
location of the property, and sometimes have known to be abused
by 'inexperienced developers', as Mr. Nassau remarks.
Obviously, beach side properties, although rare nowadays, are priced
higher on the scale than those inland and for a good reason. Properties
that are in close proximity to an established five star hotel are
also more costly, since they benefit from the hotel's ongoing
management and can take full advantage of the hotel's facilities.
'It is the middle market, generally identified as not being
on the seafront, nor connected to a resort and without first class
management services and facilities, that is perhaps overpriced,
given the value of land' as Mr. Lark observes.
There is definitely plenty of property around, whether it be near
the beach, or with views over surrounding hills, golf courses, or
the sea. Some developers give the buyer the flexibility to choose
their own dream home, while others provide completed villas, ready
to move in. Whatever the size and cost, two things is certain: Phuket
is coveted because of the facilities it offers, and investment in
real estate is always sound and can yield profits, provided you
have the right management in place. Before making up your mind,
however, examine property contracts carefully either on your own
or with the help of lawyer and learn more about the different ownership
types available.
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