Real Estate and Construction with full property management services, including house & land sales on Ko Samui
Phuket Condos
As Condos are more affordable to the average investor they have been a popular choice over villas. Most Condo developments are concentrated in areas such as Patong and Karon, and are now back in style since the structure normally used by foreigners to purchase villas has now been deemed unlawful. With Thai nationals only having the right to own land, foreigners are limited to buying condos in buildings that have less than 49 percent foreign ownership. There is the option to use a company structure or long term land lease to circumvent this law, but condos are a more secure and safer option.
With Condos offering many shared amenities like a pool and fitness center and are generally more centrally located, Phuket has seen a rise in condo sales. But be prepared and do your research to make sure that the building will be properly maintained. This is generally not a problem when dealing with reputable companies, but be assured there are many pitfalls that unsuspecting condo owners could fall into. However, unlike other places in Thailand, many of the condo buildings are 49 percent owned by foreigners so their expectations for professional management are high.