Real Estate, Property and Housing on Phuket

Rent, Buy, Lease, Build:
What's the deal with real estate on Phuket?

From cozy bungalows to comfy houses to multi-million dollar villas, Phuket has it all.   Housing costs are extremely variable.  Great views and immediate access to the sea will affect prices significantly.  And of course, renting versus owning is an important decision.  Patience and a good search can reveal great bargains.  Most people who live here for a period of time have found their homes by driving up and down the back roads and city streets.

 Anyone considering buying a home on Phuket should know that foreigners can buy and own a building but can not legally own land in Thailand.  There are a several popular ways of circumventing that rule.  The most common is using a 30-year lease, renewable one or two times for a total of 60-90 years. 

This is done with a contract that also arranges for the legal transfer of the property during IF it should become legal for foreigners to own land during that time.  A popular method at one time, that has fallen into disrepute, is to set up a Thai company that purchases and holds the land.  And, through a variety of shenanigans, the foreigner is able to control the shares of the company and thus the land.

I'm not a lawyer and won't pretend to know the best way to arrange your purchase.  Needless to say - seek the most competent legal assistance you can find.  From my perspective, Phuket Land would be a good place to start.

There are many beautiful property developments coming on line on the island - all will have their own approach to how to best control the land your future home is on.

Thailand will allow foreigners to own a certain percentage of the condominiums in certain condo developments.  Seek legal guidance be sure you buy where it is 100% legal for you do to so.

There are many happy home owners on Phuket and I believe that safe and legal ownership is possible.  Do your research though - and you'll find a history of illegal deeds and other problems - that you'll want to carefully avoid.