Buying A Condo In Phuket For Holiday And Rental

[chachi]

Hello,

I'm a 36 year old Australian who is looking at purchasing a condo at Kata Beach in Phuket. I have been to Thailand on holidays

on numerous occasions and would be looking at the purchase for holidaying a couple months of the year. Hopefully the apartment

can be let out part year to generate some income.

Can anyone offer any info on the pros and cons of doing this and whether I am thinking in the right direction. Am I to young for this option

and should I be looking at this sort of option down the track? Purchase price about 5M Bt. Am I being naive as to whether this is a viable investment

regarding getting any rental return?

Also, single, no Thai missus etc

Any advice appreciated.

Thanks

[steve891]

Hello,

I'm a 36 year old Australian who is looking at purchasing a condo at Kata Beach in Phuket. I have been to Thailand on holidays

on numerous occasions and would be looking at the purchase for holidaying a couple months of the year. Hopefully the apartment

can be let out part year to generate some income.

Can anyone offer any info on the pros and cons of doing this and whether I am thinking in the right direction. Am I to young for this option

and should I be looking at this sort of option down the track? Purchase price about 5M Bt. Am I being naive as to whether this is a viable investment

regarding getting any rental return?

Also, single, no Thai missus etc

Any advice appreciated.

Thanks

Chachi,

If you have heaps of spare cash, go ahead and buy,

It is a buyers market at the moment, property sales are at a low..and not much is selling at the moment, so once you do get it, it might not be so easy to sell it... make sure if you do buy, you have it in your name, not in company name..certinally a nice location to buy, Phuket is a nice place.. excellent beaches...

Steve...

[12DrinkMore]

Any advice appreciated.

You are in for answers from two basic camps;

The camp trying to persuade themselves that they have made the right decision to do this, and that others should do the same (also including a few real estate agents around here, but most of them don't own property because they can't afford to or don't want to...)

The other camp who will point out AUDs are returning over 7% interest, this will be hard to beat with letting a property in Thailand, not even taking into account buying and letting the property, fixing the problems, paying the tax and general risk and inflexibility of owning property in Thailand. I am in this camp.

Phuket is a nice place.. excellent beaches...

Was is the operative word. Phuket has gone downhill rapidly, over developed and overvisited. The overdevelopment continues at an incredible rate, now they are talking about massive developments in Rawai, which was a pleasant area. Even the governor has tried to persuade the TAT to get tourists to go somewhere else...

Five years ago they should have called a slow halt, but no, eyes on the money and now in five years what will it be like? And ten years. I shudder to think. Visit Patong today and then you will realise where the whole island is heading, starting with Karon, Kata, Chalong Rawai, Nai Harn and then moving up north.

Kata used to be nice, Kata Noi is still nice, almost a private beach, no through traffic. Kata itself is succumbing to the onslought of development. Just go and look. It's horrible.