Property Guide

It is a known fact in the Phuket real estate industry that the true tangible price of a property is based solely on the final agreement made on price, between both the buyer and the seller. Of course, some buyers overpay for a property and have trouble selling again later. But the attraction and value of any singular property in Phuket is subjective, and beauty is in the eye of the beholder. A seller believes their property is worth a specific price, but the reality is that they will only achieve that asking price if one of the multitude of buyers agrees that the offer price is acceptable. If a property stays on the market for years, then the property is likely extremely overvalued.

There are many different types of Phuket property, with an array of different legal structures. This section assists to identify the different types of Phuket property for sale in Phuket. Although the various types are easy to define, sometimes these categorisations may overlap, creating even further sub-categories. If anyone is a serious buyer, it pays to understand the various types of properties that may be on offer in Phuket and to understand the legal connotations explained in later sections.

Foreigners who arrive in the “Land of smiles”, are mesmerised by how beautiful the Kingdom of Thailand is, and that surely in such an incredible place, full of such nice people, nothing can go wrong. Unfortunately, things often go wrong in Phuket, through either unfortunate circumstances, deliberate intentions or through the bereavement of the original lessee or land owner who made promises that the heirs refuse to accept. Buyers also need to be aware that many properties in Phuket are built illegally, and so the sale of the property at a later date, sometimes proves impossible.

Foreigners are not allowed to own landed property in Phuket. This is a truth we have to accept. A foreigner is a guest in the Kingdom of Thailand, but every foreigner can seek quality legal representation from ethical lawyers to make sure that all is done correctly, and that foreigners are adhering to either condominium laws, and/or, more importantly, land ownership laws enforced strongly by the Thai authorities. Legal advice from an experienced Thai Lawyer is essential. If any foreigners decides to purchase a property in Phuket, then they must ensure, without a shadow of a doubt, that everything is done according the laws of the kingdom.