Property Investment In Phuket / Karon Beach

[michaelman]

Hello all,

I purchased a property in Karon beach, 45 sqm studio on top floor overseeing the bay. About 10 minutes walk from the beach.

Seems like a good investment. But is it realy?

What are the prospects to rent it out?

If I wanted to sell it, how long does it normally take to sell a property like that?

Thank you

[ShopBoy]

you have purchased the condo and you post here asking for opinions.

what's the point ?

[IrishIvan]

I would just rent it out for people on holidays. Stick a couple of FOR SALE signs in the apartment and go and see all the real estate agents on the island and prepare for a long wait. Its very easy to buy in LOS but difficult to sell.

[cdmtdm]

I would just rent it out for people on holidays. Stick a couple of FOR SALE signs in the apartment and go and see all the real estate agents on the island and prepare for a long wait. Its very easy to buy in LOS but difficult to sell.

and you have what experience in buying and selling here in the LOS?

[hansgruber]

I would just rent it out for people on holidays. Stick a couple of FOR SALE signs in the apartment and go and see all the real estate agents on the island and prepare for a long wait. Its very easy to buy in LOS but difficult to sell.

and you have what experience in buying and selling here in the LOS?

Ok, we know you're dying to tell us all about your expertise in Phuket property, lets hear your story..

[IrishIvan]

I would just rent it out for people on holidays. Stick a couple of FOR SALE signs in the apartment and go and see all the real estate agents on the island and prepare for a long wait. Its very easy to buy in LOS but difficult to sell.

and you have what experience in buying and selling here in the LOS?

My name is Billy not Silly, all I have to look at is the oversupply of housing here, constant construction and low rents. Ive bought and sold houses before, but I always thought it was wiser to exchange contracts in my native tongue. I havent been burnt yet doing it my way. But if you think 30 year leases, buying houses for bargirls or putting it in illegal holding companies is a better option then good luck to you

[steelepulse]

Back to OP, get your condo listed on all the villa rental websites. Flipkey, a trip advisor company, gives you a free listing and charges a 3% fee if someone rents. Most local property villa rental companies charge a 10% fee for basically listing your condo on their 300baht/year website.

[madmitch]

Back to OP, get your condo listed on all the villa rental websites. Flipkey, a trip advisor company, gives you a free listing and charges a 3% fee if someone rents. Most local property villa rental companies charge a 10% fee for basically listing your condo on their 300baht/year website.

Also try Wimdu and Air BnB. Both specialise in private apartment rentals.

You'll do OK for holiday rentals if it's in a good location.

But you'll also need to find a reliable cleaner.

[keestha]

Ad in the Phuket Gazette?

[cdmtdm]

I would just rent it out for people on holidays. Stick a couple of FOR SALE signs in the apartment and go and see all the real estate agents on the island and prepare for a long wait. Its very easy to buy in LOS but difficult to sell.

and you have what experience in buying and selling here in the LOS?

My name is Billy not Silly, all I have to look at is the oversupply of housing here, constant construction and low rents. Ive bought and sold houses before, but I always thought it was wiser to exchange contracts in my native tongue. I havent been burnt yet doing it my way. But if you think 30 year leases, buying houses for bargirls or putting it in illegal holding companies is a better option then good luck to you

just as i thought armchair expert ...

[cdmtdm]

I would just rent it out for people on holidays. Stick a couple of FOR SALE signs in the apartment and go and see all the real estate agents on the island and prepare for a long wait. Its very easy to buy in LOS but difficult to sell.

and you have what experience in buying and selling here in the LOS?

Ok, we know you're dying to tell us all about your expertise in Phuket property, lets hear your story..

u asking me Mr Gates or silly billy ?

[xylophone]

I would just rent it out for people on holidays. Stick a couple of FOR SALE signs in the apartment and go and see all the real estate agents on the island and prepare for a long wait. Its very easy to buy in LOS but difficult to sell.

and you have what experience in buying and selling here in the LOS?

My name is Billy not Silly, all I have to look at is the oversupply of housing here, constant construction and low rents. Ive bought and sold houses before, but I always thought it was wiser to exchange contracts in my native tongue. I havent been burnt yet doing it my way. But if you think 30 year leases, buying houses for bargirls or putting it in illegal holding companies is a better option then good luck to you

Have to agree with IrishIvan on this. I have bought and sold houses here as well as a business, and have other folk I know in real estate. I don't believe it is a good place to buy now, maybe once a few years ago, but just about dead now for all of the reasons stated by IrishIvan.

Perhaps some real estate agents are doing okay, more than likely doing the same as a real estate agent I spoke to yesterday when he was mentioning that a friend of mine could buy one of his condos on a 90 year lease.............yes, the untruths are still out there!!

I would never buy again, only rent, especially with all of the building now going on and many, many apartments empty in the low season.

[michaelman]

Thanks for answers everyone.

[glassdude007]

been looking for an affordable 3 bedroom family home around Rawai Chalong for long term Rent....

Not much out there...

Plenty of Villas for 30k a month and up though......no thanks

[merijn]

I'm renting out 4 houses in Phuket. ( 1 in Patong and 3 in Kathu )

I only do long term rents of 1 year or more and mostly via a well known real estate broker.

Last house i build was rented out within 1 month for 1 year and further options. ( one house i have is already rented to the same person for 5 years and counting )

It all depends where your house/condo is located and the state it is in and the price of-course.

Off-course using a broker cost money but in case of long term rent it is not to bad and i don't have much hassle which is for me more important.

If you are in a good location you should not have a big problem with renting out your house/condo.

[michaelman]

Thanks Marijn.

My condo is located about 10 minutes walk from Karon beach, towards north part of the Karon area. It's top floor with unobstructed sea view, facing west. Long term rental would be a good option too, if it is so difficult to sell.

I'm renting out 4 houses in Phuket. ( 1 in Patong and 3 in Kathu )

I only do long term rents of 1 year or more and mostly via a well known real estate broker.

Last house i build was rented out within 1 month for 1 year and further options. ( one house i have is already rented to the same person for 5 years and counting )

It all depends where your house/condo is located and the state it is in and the price of-course.

Off-course using a broker cost money but in case of long term rent it is not to bad and i don't have much hassle which is for me more important.

If you are in a good location you should not have a big problem with renting out your house/condo.

[iluvbeaches]

I'm renting out 4 houses in Phuket. ( 1 in Patong and 3 in Kathu )

I only do long term rents of 1 year or more and mostly via a well known real estate broker.

Last house i build was rented out within 1 month for 1 year and further options. ( one house i have is already rented to the same person for 5 years and counting )

It all depends where your house/condo is located and the state it is in and the price of-course.

Off-course using a broker cost money but in case of long term rent it is not to bad and i don't have much hassle which is for me more important.

If you are in a good location you should not have a big problem with renting out your house/condo.

Houses are in demand in Patong because there are tons of condos, apartments and guesthouses but few nice houses especially with pool. I always recommend anyone doing any investing in Phuket to drive around find some fixer upper and make a business out of fixing it and renting it out long or short term. One guy I met does this with a few of those luxury houses on Nanai. I think it would be hard to find a house let a lone a townhouse for less than 4.5m though.

[mattjenson]

talked with a chap who bought a condo in patong about 7 years ago for 2.5m baht. 5 years ago the same condos were selling for about 5m baht, today the same condos are selling for about 2m baht. investment? heck if this is the boom then when the bust comes i should be a buyer for a box of air.

[pagallim]

talked with a chap who bought a condo in patong about 7 years ago for 2.5m baht. 5 years ago the same condos were selling for about 5m baht, today the same condos are selling for about 2m baht. investment? heck if this is the boom then when the bust comes i should be a buyer for a box of air.

I think that sounds like complete BS. That said, location, location etc. Patong is drenched with condos, both for sale and rent, and for most potential residents represents a short term lifestyle option, so why buy?

That said, the investment of say in 2007 compared to an equivalent value of 20% less now, although the baht value might be slightly less, converting back to Euros/UK Pounds/US or Australian Dollars etc now, will actually give a slight profit.

[eezergood]

talked with a chap who bought a condo in patong about 7 years ago for 2.5m baht. 5 years ago the same condos were selling for about 5m baht, today the same condos are selling for about 2m baht. investment? heck if this is the boom then when the bust comes i should be a buyer for a box of air.

I think that sounds like complete BS. That said, location, location etc. Patong is drenched with condos, both for sale and rent, and for most potential residents represents a short term lifestyle option, so why buy?

That said, the investment of say in 2007 compared to an equivalent value of 20% less now, although the baht value might be slightly less, converting back to Euros/UK Pounds/US or Australian Dollars etc now, will actually give a slight profit.

Patong is also drenched in dreamers that believe their condo is worth much more per month than they have ever got! The guy I had a deal with, for guarenteed 18 months, decided to pull the deal as someone offered him THB12,000 a month more for a full 6 weeks! 7 months later his property is still empty & was broken into 2 times - i know the handyman that fixes bits & pieces around and he told me.