There can be no doubt that Thailand is home to some of the hottest real estate in Asia at the moment. It is also a place which is characteristic of much of the Southeastern Asian real estate situation at the moment – namely, with population density as well as demand for property space and, thus, the value of properties all being quite high. Try to find property in Bangkok, and you’re looking at some pretty pricey apartments. Even in a more tropical area such as Phuket, the price of homes can be big.
That’s one reason so many people turn to apartments instead. If you’re interested in doing this, these factors can help you determine which apartment in Phuket for investment is right for you.
- Location, location, Location
The first thing you’ll want to consider is, of course, the first rule of real estate, namely, that it’s all about location, location, location. Even the best apartments can turn people off if they’re located in the middle of nowhere, while decidedly lesser apartments can attract considerable attention if they’re located in an area which is itself in high demand (case in point, San Francisco). You want to make sure that the apartment in Phuket is in an area which is advantageously located. Not only can this spare you a great deal of difficulty, as no one wants to have to deal with commuting to and from an isolated patch of land every day, but this can likewise ensure the long-term viability of the apartment’s investment value.
- Size of the Property
The same can be said of the property’s size. On the one hand, the smaller the property, the more affordable it’s typically going to be. On the other hand, you again want to consider the long-term investment value, and whether that might be greater with a larger property.
- Residential Versus Business Area
In addition, you are going to want to consider what your neighbors are like. Here, we don’t just mean whether you get along with them or not, but rather whether you live in a residential or business area. Determining the area in which you live is going to have a profound impact upon the investment potential of your property. It is also going to impact the group to whom you might market your apartment if you are ever interested in selling.
- Current Condition
Simple, but true, property that’s in need of repairs can often be available at lower prices. In a country such as Thailand, where property is in demand and prices are high, this can be a great way to get property at an affordable price. But, is it worth it? That is something everyone will have to determine for themselves by evaluating the price of the property versus its fixer upper condition.
- Quality Assistance
Last, but not least, you are going to want to seek assistance from a realtor or other apartment specialists in the area. They can help you find an apartment which matches your needs.
With these factors in mind, you’ll be able to find a property that matches your needs.
