7 Reasons to Invest in Property in Phuket
Do you want to invest profitably in real estate abroad to save and multiply your money? We can offer at least 7 reasons proving that Phuket is the best choice for your investments. And we’re not lazy to arrange it for you in infographics.
1. Large Flow of Tourists
Eternal summer, beautiful beaches, friendly local people, quiet atmosphere, plenty opportunities for rest and relaxation, variety of services – all that attract many tourists from all over the world to Phuket. By now state revenues from tourism is 17% of GDP (Gross domestic product). Only in 2016 the “Land of smiles” hosted 32.5 million of tourists. Phuket is one of the most popular tourist destinations in Having experienced all the delights of life on this paradise island, many vacationers decide to purchase housing here.
2. The Development of Infrastructure
Phuket few years ago and Phuket today are two absolutely different pictures. There are still beautiful beaches here, but island’s infrastructure radically stepped forward. Today Phuket can be proud of excellent roads, easy interchanges and convenient junctions, hospitals and schools of high international standards, many telecommunication networks, luxury hotels of the world famous chains, restaurants, nightclubs, markets and shopping centers. But the main point is that infrastructure continues to improve — new interchanges, shopping malls etc. are being constructed in Phuket.
3. State Support
Thailand government is investing significantly in the development of the island, creating and maintaining a favorable investment climate. Particularly the government is very loyal to foreign investors and makes all the efforts to create comfortable conditions for them. Thus, Thailand Privilege Card Company Limited (TPC) under the Ministry of tourism and sports of Thailand implemented a program of issuing long-term visas for foreigners for a period of 5 and up to 20 years.
4. International Airport
After opening of the airport, the flow of tourists to the island has increased and we can witness a steady increase in future. This year airport’s capacity has been expanded to 12.5 million tourists per year, whereas now it already accepts about 4.5 million visitors. The potential for growth is very huge!
4. Raising the Standard of Living and Leisure
Already now Thailand can offer very high level of services and leisure facilities meeting the utmost international standards.
5. Stable Demand for Real Estate
Market participants note positive dynamics of demand for Phuket property and predict its steady growth for at least the next few years.
6. Favorable socio-economic climate
The national currency of Thailand — Thai Baht (THB) — is very stable. Today 1 US dollar equals approximately to 32.7 THB. In recent years, the rate remained nearly unchanged. If we add to that a low inflation rate of 0.2% and no tax on the property, we will get an additional plus in favor of real estate investment in the “Land of smiles”.
All above-mentioned factors give us a full reason to expect further growth of prices for Phuket real estate, and hence the growth of investment income. Now you can see in which country you should buy a property. 😉