3 Ways Facebook Destroyed My “real Estate Thailand Beach” Without Me Noticing

Phuket, Thailand - Phuket FantaSea - Jeff Gunn - FlickrUnlike owning a villa, owning a condo means there is no grueling hard work involved. This also leaves owners more leisure time to do what they want. Owners don’t ever have to mow the lawn, get on their hands and knees to tend the flower beds, chlorinate the swimming pool, or remove trash from the premises. Some condominiums even have the open feeling of a villa, with private manicured lawns and landscaped garden areas, and some even have their own private swimming pools. There are even a number of duplex condos available too, as well as a large selection of luxurious penthouses. Many condos even assist owners with paying electricity and water bills. These new styles and designs defy the misconception of condominiums being small and cramped. On the west coast, there are small coves, long sweeping beaches and some rugged coastline. When you venture inland, there are mountainous areas, valleys and hillside retreats.

Renowned for its amazing culture and gastronomic delights, the island is as welcoming to foreigners as any other place on earth. This is mainly because, after some initial research, they become aware that owning a condominium is significantly more appealing than the intricacies involved in owning a pool villa. Essentially, condos allow foreigners to own the property in their own name. Foreign freehold condos, especially those with spacious living areas and high ceilings are always in high demand. A freehold condominium, however, gets full government approval. This means that not only will a high demand condo be easy to sell when the time comes, but the owner will also very likely make a tidy profit from the sale. Not all condominium owners are going to want to keep their condos forever. But when the time comes, the process for selling is nice and simple, especially if both parties hire experienced legal representation. It is not uncommon for the buyer and seller to see eye to eye and for transfer of ownership agreed upon and exercised within just a few days.

If owners have held on to their condo unit for more than 5 years, taxes are significantly reduced. This is exceedingly low when compared to many other countries. This can amount to fees and taxes being only between 1-2% of the sales price, which is shared 50/50 with the buyer, so the costs to sell can be negligible. Owning a house or villa in an up-market highly desirable area can prove to be very expensive. Every new modern condominium has amazing swimming pools, many with children’s pools, slides and even kid’s clubs. A condo, on the other hand, allows foreigners to purchase a property in the same area for a fraction of the cost. Most have state of the art gymnasiums and even restaurants, bars and shops. Without even leaving the resort, owners can do a few laps before breakfast, spend some time on the treadmill before lunch, catch some sun in the afternoons, and enjoy a meal with the family in the evenings.

There are banana and coconut groves, rubber plantations and pineapple fields. The booming tourism industry and the influx of new residents has resulted in investors being rewarded by both capital appreciation and an attractive return on investment. Phuket now has a number of branded resorts, aimed at both the investment market and branded residences. Some developers collaborate with prestigious brand names to assist with marketing and management of the resort. This undoubtedly enhances the experience for both residents and guests. In many cases, owners may also qualify for privileges and discounts with the hotel management’s other global resorts. Many management companies will also insist on excellent facilities from the developer, such as an onsite gourmet restaurant, which will also offer room service. Many of the new investment condo projects are now aware of this dynamic, and offer lucrative short term returns by providing rentals to tourists, with legally compliant condominiums with full hotel licenses. Condos can be second homes, and can remain tenantless for months at a time. Owners feel safe they can simply lock up and go away. All freehold owners get full voting rights, and can voice their opinion on major decisions being made. As well as providing security for full time residents, those owners who only come sporadically throughout the year, or perhaps just travel for work around the region, can also safely lock up their unit without any worry. Obviously, there are reasons why a condo isn’t for everyone, for example, those who have pets, or foreigners who insist on a private pool, but whose budget doesn’t extend to a luxury condominium. However, anyone looking for a home in the sun, whether that’s a primary or secondary home, must most certainly look at condominium ownership before considering other options.

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