If you are considering buying property in Thailand, exploring land for sale in Phuket may be one of the best decisions you make. Whether you are building the perfect villa, running a resort, or simply investing, Phuket has so much to offer. But before you commit, it is worth considering what makes the island so enticing and what to be wary of when buying land.
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What Makes Phuket Appealing?
Phuket is a lot more than just a holiday destination. It is an established destination of choice for new domestic and international buyers alike, with breathtaking scenery, a strong rental market, and a proven history of rising property values.
- A leader of tourism-generating cities: Phuket is often ranked #1 in generating tourism,with local and international tourists fuelling better infrastructure, services and future opportunities.
- Year-round lifestyle destination: With tropical weather all year round, international schools, hospitals, and shopping malls, the island supports full-time living rather than just a holiday.
- Popular with expats and retirees: Local and foreigners alike all call Phuket home, and the established expat community will allow you to settle in and search for services in English or other languages with ease.
What to Look for When Viewing Land for Sale
Like anything in real estate, due diligence is important even if you’re just checking out a plot of land. There are a few key details that you have to check because they can affect your lifestyle and a property’s long-term value.
- Infrastructure: Make sure there’s an existing water supply, internet service, electricity and sewage systems near the property you plan to buy. There’s some appeal to living remotely, but if you have to set up this infrastructure later on, you could be facing higher setup costs.
- Road access and connectivity: Is the land accessible through shared or private access? Are roads maintained by the government or a private organisation? How far or near are the beaches, main roads, markets, schools and other conveniences?
- Topography: Elevation and orientation are two important considerations for buying land. A flat land, for example, may be easier to build a house on, but there may be problems with drainage during the rainy season. Slopes facing south, on the other hand, may offer great views and light, but preparing them for development can be expensive.
- Nearby development trends: It’s happened before when a property owner purchased land for its peace and serenity, only to find out that there’s an ongoing plan to build a resort. While commercial developments can definitely boost value, they can also disrupt peace and quiet.
What kind of land suits you?
As you may have already guessed from the previous section, not all plots of land are created equal. It’s important to think about your goals to help you make the right decision. Are you planning to build a custom home, invest in or develop it for commercial activities? Your goal will guide you in buying the land that suits your needs best.
To build a home
A peaceful, scenic area is best if you want to build a home for your family or an escape from the urban lifestyle. You have the option to build on a flat land or a hillside plot, but make sure that either has easy access to essential services.
For investment or development
Land near popular tourist areas, such as Phuket, Patong or Bang Tao, makes suitable locations for commercial projects. A steady influx of tourists increases the demand for resorts and villas for rent.
For long-term holding
If you plan to invest in property for future gains, buying undeveloped land outside city centres or busy areas could provide potential returns in the long term. You can develop or sell the property when its value appreciates.
How to Spot a Good Deal When Searching for Land for Sale
With plenty of listings to choose from in Phuket and other areas in Thailand, choosing a property worth pursuing can be challenging. But some factors can help narrow down your options, especially with the help of a real estate agent.
Compare prices by area
Naturally, land near tourist-heavy zones or beaches tends to cost more than those in remote locations. Whichever neighbourhood you decide to explore, make sure to check out listings for similar plots and compare prices.
Ask why it’s being sold
Land is sold for a lot of reasons: change of plans, inheritance, and the like. But property owners may also sell because of disputes or future zoning developments.
Check for clean title deeds
To avoid future problems and disputes over ownership, the land you wish to acquire must have a proper Chanote title, which is the most secure type of ownership certification issued by the Thai land department. The boundaries of the plot should be clearly marked as well.
You should also check a property’s resale and rental potential, even if you don’t plan to sell anytime soon. It’s always a good idea to know if there’s future value that you can look forward to.
Phuket is one of the many locations in Thailand that can offer you a slice of tropical paradise. There are many opportunities to buy land; you just need to understand your goals and the local landscape for a successful and smart purchase. With this in mind, work with Sunway Estates to help you find a land in Phuket worth owning.
