Real Estate and Construction with full property management services, including house & land sales on Ko Samui
Phuket Houses
As Thai law forbids foreigners from owning land, this put a dampener on sales of houses in Phuket. This diminished demand suits the buyer, and with ways to circumvent this law, Phuket has seen a strong development of houses. But since late 2006, officials have pledged to more strictly monitor the practice of foreigners establishing companies to own the land. Alternatively, if you have a Thai spouse then you can assume de facto ownership of the land or opt for a renewable 30 year lease, while retaining ownership of the building. In all cases, due diligence and full trustworthiness of your partners is an essential, as Thai law is notoriously unreliable in protecting a foreigner’s interests if disputes over ownership arise.
With property in Phuket typically much more expensive than most other popular ex-pat centers in Thailand this sector of the property market is limited to a privileged few. However away from the popular tourist areas there are plenty of lovely houses, as well as land for sale at more affordable prices. The safest option is buying a houses in the prestigious projects, these Phuket houses cost roughly 30 to 50 per cent more than a stand alone house in a regular ’locals’ suburb. But with these ’gated communities’ you don’t risk all the usual habits of an Asian neighborhood, such as noisy neighbors, uncontrolled dogs and so on.