Overview of Phuket Land Real Estate
Like other Thailand real estate, there is a wide variety of land for sale in Phuket. Phuket island, with an area half the size of greater Hong Kong, has a dwindling supply of land for sale on the West coast. The rest of Phuket offers some of the best of Thailand property investment opportunities.
Inland Phuket Property
Whilst Phuket property investment has been focused in the past on coastal locations, there is a strong movement to inland and hillside Phuket real estate that offers more privacy and fantastic sea views. Many permanent residents prefer to stay east of the hill range that separates the West Coast from the rest of the island where business activity is concentrated. Inland property is less expensive and represents one of the best values in Thailand properties. Inland and hillside residents have the advantage of good access to Phuket town, shopping, and a multitude of choices for beaches.
Land is measured in rai In Thailand, a rai being 1600 square metres, or about half an acre. In Phuket a rai will sell anywhere from 1 million Baht for land in a remote but accessible corner of the Northeast coast, to 10 million Baht and upwards near the beach. Itís important to spend time and research carefully where you want to locate your special Phuket home or investment.
Phuket villas, homes, bungalows, and apartments are relatively easy to buy if you know Thailandís rules, and purchasing land is no different. One of the barriers to land ownership is that Thai law forbids non-Thais from owning the actual land. To address this problem, itís common for foreigners to place the ownership of the land in the name of a Thai spouse or in a company that has 51 per cent Thai ownership. This method requires surefootedness and trust to avoid being taken advantage of. With a good lawyer, good advice and ethical real estate agents, you can generally buy with peace of mind and security.