New Build Condo In Phuket

[lorddaverichards]

Hi

My GF and I are in the UK at the moment but want to get my foot on the property ladder in Phuket. We have a place in Bangkok but I would like to buy an off plan condo in Phuket witha view to sell when it is completed.

The Reason for this is that we can then buy, with the money, our own land and house in our own style which we would supervise when we move to Thailand.

my question is we are looking to invest about 5-8 million in a condo - so when it is completed we are hoping to sell at a profit- all agents are telling us this is easy to achieve - however I am bit sceptical if this was the case everyone would be doing it not just big property developers.

Can anyone shed any light / experience to share with me

We would be looking to buy in Patong / Karon / Kata Area

many thanks

[Boater]

PM Please

[misterme]

Buying off plan in Thailand is risky.

It's my experience that prices off plan will rise once complete. (let's guess that it's 20%)

But once complete a new unit will apreciate in the same time frame. (let's guess 20%)

Isn't it much smarter for you to make money on a Unit that you can see, feel, live in, rent... and sell

Much better than a plan off paper, a contract, and monthly payments with noting but a plot of land to show... You don't get the chanote until it's done either.

(I speak from experience. After a year making payments on a much delayed project, I now look for complete units.)

[robbiecia]

Buying off plan in Thailand is risky.

It's my experience that prices off plan will rise once complete. (let's guess that it's 20%)

But once complete a new unit will apreciate in the same time frame. (let's guess 20%)

Isn't it much smarter for you to make money on a Unit that you can see, feel, live in, rent... and sell

Much better than a plan off paper, a contract, and monthly payments with noting but a plot of land to show... You don't get the chanote until it's done either.

(I speak from experience. After a year making payments on a much delayed project, I now look for complete units.)

I agree

To the OP....read this post........and then read it again!!!!!!!

Edited September 22, 2008 by robbiecia