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At 48 km in length and 21 km at its widest, Phuket is the largest island in Thailand. It is located in Southern Thailand next to the Andaman Sea 867 kilometers south of Bangkok and is connected by the Sarasin Bridge to the mainland, or Phang Nga Province to be exact. The island has a rich and colorful history. Its past wealth was derived from tin and rubber and it used to be one of the main trade routes between China and India.
Blessed with glorious coves and bays, white sparkling beaches, wooded hillsides, warm people, and great food, Phuket is now a world-class tourism hotspot, which has transformed it as the wealthiest province in Thailand. Aside from its natural beauty, Phuket also boasts other popular attractions, such as the famous Big Buddha and the gleaming temple of Wat Chalong. The Island currently welcomes 9.2 million visitors each year, many of which are so captivated by its natural beauty and atmosphere that they decided to relocate or invest in the area. Today, Phuket International Airport has become the country’s second-largest hub with frequent flights to and from Bangkok, as well as direct flights to numerous airports in Asia, Europe, and Australia. The airport has made Phuket a highly approachable location for investors from around the globe.
Learn more about the Phuket apartment market through trends and average prices.
Apartments for sale in Phuket are available in various styles and sizes. Investors can choose between mid-rise and low-rise apartments. A mid-rise apartment has 4 to 11 stories in height, while low-rise apartments only have up to 4 stories. Both mid-rise and low-rise apartments can have ocean views and easy access to the beach; they may also have luxurious amenities, such as swimming pools, gyms, clubhouses, and gardens, spas, and children playgrounds. An apartment building can also have a variation of room types, from a studio room to four bedrooms.
Although most new apartments in Phuket have a modern and sleek style, investors can still choose between these modern style apartments and traditional Thai-style apartments. Thai-style apartments are usually smaller with fewer units and simple amenities, but some of them may also have luxurious amenities.
The apartment types in Phuket can also be divided into two categories, which are off-plan and completed. Buying an off-plan apartment means that you are buying the apartment before it is finished or even started to be built while buying a complete apartment means buying an apartment that has already finished.
Phuket has more than 400,000 people living in its area. While the island is popular for many things, it is particularly known for its beaches. The island has more than 30 beaches some of the most popular are Patong Beach, Karon Beach, and Surin Beach. Patong Beach is especially popular for its nightlife scene, so if you want to unwind and relax in a peaceful atmosphere, this beach is not the place to go. Instead, try the less popular beaches such as Mai Khao Beach.
Different areas of Phuket appeals to different people. Those who like to party and experience the island’s nightlife usually prefer Central Patong. This area is the busiest part of Phuket as it is located at the center of Patong Becah and is nearest to Bangla Road, which is the party hub of the island. Bangla road may be a mellow street by day, but once the sun sets it becomes full of loud music, neon-lit bars, and cheap alcohol. In addition, it is the center of the island’s adult entertainment industry.
North and South Patong is usually the top choice for couples and families who want to stay close to where the action is but do not like the noise and chaos. Both of these areas are lively and there are plenty of shops, restaurants, and bars. They are very close to Patong Beach and have easy access to Karon and Kata Beach.
For couples, families, and honeymooners who want a more laid-back atmosphere but do not want to stay too far from the center of the city, Karon and Kata are the perfect places to go. These areas are calmer in terms of nightlife and the beaches are typically less crowded than Patong Beach.
If you love culture and history, Phuket Old Town should be your top choice. This area is steeped in history. You can find numerous buildings with Sino-Portuguese architecture, charming cafes, and quaint mansions. Old Town is also famous for its night markets and Phuket Walking Street.
Phuket is known to have a relaxed and laid-back lifestyle, especially when compared to Bangkok. As the wealthiest province, the cost of living can be higher than in other areas in Thailand. However, it is still relatively affordable. The official currency is Thai Baht and 1US$ is equivalent to approximately ฿3.17. This exchange rate is favorable to those who come from Western countries and most foreigners can live a comfortable life with a mid-range salary.
As in other areas in Thailand, the main religion is Buddhism. However, other religions are freely practiced with Islam as the biggest minor religion, making up around 35% of Phuket’s population. The official language is Thai, but English is widely spoken due to tourism.
Phuket enjoys a tropical climate, meaning it is generally warm, humid, and sunny throughout the year. The dry season starts in November and ends in April, and it has an average temperature of 30°C. From May to October is the rainy season, with an average temperature between 24°C and 32°C.
To stay in Phuket long-term, you will need a business, education, marriage, or retirement visa. Most foreigners who live on the island have non-immigrant visa type B. Retirees usually apply for non-immigrant visa type O, O-A, and O-X.
Tourism – as mentioned before, Phuket welcomes nearly 10 million visitors each year. On average, the number of tourists arriving in Phuket increase by 10% a year. The demand for accommodation is high and if you are interested in buy-to-let, you can benefit from the tourism industry to get a rental income.
Relatively affordable property prices – the apartment prices in Phuket are still relatively affordable than in other popular areas. In fact, it is still around 16.5% lower than apartments in Bangkok.
Return of Investment (ROI) – properties in Phuket typically have high ROI. In some areas, investors can get a 7% guaranteed rental return after 5 years.
Capital gains – the property values in Thailand have increased by over 300% in the past decade. This offers lucrative capital gains for investors.
Improved accessibility – Phuket’s International Airport is the second-largest hub of Thailand, and with the planned Light Railway Transit (LRT), traveling to, from, and around Phuket will be very easy.