Off plan properties
What Is Phuket Off Plan Property?
In Thailand real estate that has not yet been fully constructed is called “off plan”. Some developers offer the chance for buyers or property investors to purchase a condo, apartment, home, bungalow or villa before work has started.
Advantages of Phuket Off Plan Properties
Buying a Phuket property can be a good arrangement for both developers and buyers. Thailand real estate developers benefit because they can secure funds and sales before the start of the construction work. It also benefits the buyer as developers usually offer lower prices to entice purchasers of Phuket homes. Typically, Thailand property developers will offer discounts of between 15-20% to encourage initial investment and to help pay for ongoing development costs.
Potential Problems of Buying Off Plan
When purchasing Phuket real estate, you need to be knowledgeable about comparable prices for the type of villa, apartment, condo or home you are considering. You should review other projects built by the developer and obtain solid assurances that your future home will be up to the standards that you expect. Also, it is important that you take care to protect yourself from the danger of the development being unreasonably delayed.
Choosing the Right Phuket Developer
When investing in overseas properties, You need to be sure that the property investment company that you work with has the experience and backing to get the best deal possible from reliable, quality developers. Tropical Homes Real Estate in Phuket is such a firm. With extensive experience in the Thailand property market, especially with Phuket real estate, Tropical Homes Real Estate can protect your best interests.
Off plan developments