Phuket Investment Property Business Opportunity in Phuket Thailand

Introduction Phuket boasts international standard marinas, hotels, resorts, hospitals, golf courses and shopping, and is fast tracked to become the technology & leisure centre of South East Asia. Where else can you enjoy year round good weather, and a fantastic quality of life, which is yours for a mere fraction of the cost you re used to?
Our belief is this; there are very few places in South East Asia that one can buy a tropical holiday villa with a safe, well-established local infrastructure that can meet the most discerning needs of those amongst us. In today ?s fast paced modern world we cannot afford to be out of touch or isolated.

Property? Why Now? The simple answer is to make money. Managed diligently, property investment can offer exceptional returns. With the stock markets around the world in turmoil, pension funds seeing fund value falls of 30%+, and with the increased likelihood of pension shortfalls. A growing number of people are turning to property investment, for the following reasons;
• Returns better than traditional banking or stock investments
• Potential ongoing Rental income of over 10% of investment per annum
• Capital gains from property price rises between 10 - 15% per annum
• Holiday residence
• Retirement home in the sun

Why invest in Phuket
If you are considering buying a property in Phuket as an investment, now is the time to make your move. The price of property is rising steadily, especially resort type luxury villas. At a time when Phuket main airports are predicting a sharp increase in traffic over the next few years. Many people believe that the current rate of development will not be able to keep pace with the increased demand for private and holiday accommodation. The result? House prices are set to rise still further.
Phuket is surging forward accordingly but it is yet to reach its peak. Considering all the investment opportunities available to you at present, house and land outstrips them in terms of performance. Buying now will ensure that once the transformation is complete, substantial yields will be generated from managed rental returns and/or the resale value or your property.
Please browse our selection of exceptional homes at outstanding prices. Found something you like? Why not have a look? Viewing trips to Phuket are available, simply book your flights and our team in Phuket will do the rest.

Developers
For those owners who do not intend to relocate on a permanent basis, renting out your home is a viable option to reduce the ongoing cost of maintaining a holiday home.
Rental of villas & apartments has become extremely popular with tourists visiting Phuket, as an alternative to hotels and is very popular with groups of friends & families. Most property management companies will offer rental services that are in tune with the owners needs, providing flexibility, so that the owner can stay in the home when needed & rented out when not.
Check that your rental agent provides a comprehensive service & is not placing tenants without the necessary follow up and care.
If you consider, the number of foreign visitors to Phuket is increasing around 25%+ per year, and with the occupancy rate of rooms available is at 65%, rental obviously is a viable revenue stream to aid your investment return.

Property Rentals
Property development is a booming industry in southern Thailand. If you are in the market for an Asian retreat, then there is probably no better place than Phuket.
Phuket has a charm unlike any other island destination in Thailand. A true island getaway with warm azure waters, white sandy beaches, rugged granite rock formations, swaying palm trees, verdant jungle clad mountains and cool tropical waterfalls.
For those of you that want the best of both worlds then Phuket property developers have the options that will allow you to bask in luxury, surrounded by pools, man made waterfalls, landscaping, gentle streams, all within a secure environment.
The benefits of a development are far ranging. They include community property such as gyms, pools and club house. There is also utility support through backup generators, water supply, communications and maintenance. Added to this is onsite security as well as the ability of the developer to generate rental returns through property management when you are not resident.
The exclusive designs, zoning and location offer protection against any adjacent unwelcome property owners putting up a bar, supermarket or some form of industrial business.

Buyers Concerns
When buying into a development you are buying into a complete project and as such you should concern yourself with the developer's solvency.
The best protection against developer insolvency/bankruptcy is to pay for what you get and to minimize any advances or deposits, with the critical component in all cases being the land.
Once you have paid a deposit to buy the land it is not advisable to make further substantial payments until such time that the transfer of ownership of the land is registered at the land office. It would also be prudent not to commence major building work until you have legally acquired or leased the land

Property Taxation
There are two different types of tax levied on property in Thailand they are called:
• Land Tax and Structure Usage Tax
Land tax is a very small tax levied on land ownership equivalent to just a few Baht per Rai per Year.
This amount is so small that the land office rarely bothers to collect it and if they do, they may wait a few years before the amount is worth the effort of collecting. In any commercial sense this tax can be largely discounted.
Structures Usage Tax is applicable at the rate of 12.5% on the actual (or assessed) gross rental value of the property.
Lessees are not subject to this tax but may be required by the developer to pay an annual ground rent instead.

How to Pay
If you are purchasing property in Thailand & you want to pay in Thai baht ensure that your funds are transferred into Thailand in foreign currency & converted in Thai baht here.
The reason for this is that the receiving bank will issue a Foreign Exchange Transaction Form confirming the transaction.
The relevance of the Foreign Exchange Transaction Form is that it is one of the documents you will need in the future if you wish to repatriate funds without incurring tax penalties.
Also, please be aware that Banks will only issue Foreign Exchange Transaction Form for individual inward transfers exceeding USD$20,000.
Repatriation of investment funds & repayment of overseas borrowing in foreign currency can be remitted freely upon submission of supporting evidence.
One of these documents would be the Foreign Exchange Transaction Form mentioned above, or in respect of a foreign currency loan, the loan contact.
Remittance of funds without proper documentation could be regarded as income & become liable for tax.

Estate Management
When buying into a managed development expect to pay monthly maintenance fees. These fees are used in the preservation & upkeep of the common property, facilities, utilities & security. Maintenance fees will vary between developments so be sure to compare the projects.
There are a number of property management options available. In many estate developments, the developments will either be providing the ongoing property management themselves, or have contracted the services of a reputable property management company.
Using the services of an independent contractor has the advantage of providing owners with services in line with the collective needs of the estate.
If you do not intend to occupy your new home on a full time basis, property management companies on the island are able to provide services to ensure that your investment is taken care of.
Services such as bill payment, cleaning, pool, garden or general maintenance can be tailored to your needs. This enables you to rest easy with the knowledge that your home is being properly cared for. Even if your home is not on a managed estate, using the services of a property manager will provide much needed piece of mind.