What are the main advantages of buying an apartment in Phuket?

What are the main advantages of buying an apartment in Phuket?

Last Updated on 16.07.2021 by

The reputation and trust in the quality of the real estate under construction in Phuket is so great that the housing presented on the island regularly participates in international show exhibitions, thereby attracting buyers from the developed countries of America, Europe and Asia. In recent years, Russian citizens have also joined the list of priority buyers. By purchasing an apartment in the luxury resort of Phuket https://ibgproperty.com/condominiumin, you not only get the opportunity to live on your own territory throughout the entire period of your stay in Thailand, but also automatically get access to the developed infrastructure of condominiums and all types of related services.

Before in all, it is worth saying that Thai apartment buildings are very different from what we are used to seeing in Russia. Of course, residential complexes of luxury class, equipped with all the infrastructure necessary for a free life, do not cease to appear in domestic megalopolises. But there are a number of points that cannot be repeated under the conditions of Russian reality.

In any case, no matter what apartment building you would have lived in before, a standard condominium in Phuket, so how much does an apartment in Phuket cost – let’s find out:

  • it is one or more high-rise buildings, the area around which is fenced, which prevents unauthorized people from entering;
  • each building has its own parking lot with dedicated areas for cars, as well as motorbikes and motorcycles;
  • the entrance to the building is carried out by means of electronic plastic cards, which additionally protects your sleep and peace from the possibility of intruders;
  • all main crowding points are equipped with video cameras, and on the ground floor there is often a special seating area with comfortable sofas or armchairs, as well as an access point to free Wi-Fi;
  • cleanliness inside the houses and in the surrounding area is maintained by the cleaning service staff who take care of flower beds, wash floors and remove garbage;
  • directly on the territory of the condominium There is an office, whose employees, within the limits of their working hours, will help you solve any everyday problems. This can be troubleshooting the Internet, plumbing services, accepting utility bills and even renting a vehicle;
  • you enter through a barrier that is opened and closed for you by 24-hour security personnel;
    there is one or several pools. As a rule, they have a separate shallow water area for children, as well as a hydromassage function.The pool is subject to regular cleaning and is therefore closed throughout its entire length, which you will be prudently notified by means of an announcement;
  • also often the infrastructure of the condominium includes a gym with a number of cardio and strength equipment, as well as a dedicated area for static or dynamic exercises;
  • Sometimes there are complexes with a common garden, a sunbathing area equipped with sun loungers, and other things designed to make your life more comfortable.

Please note that this applies to the average condominium in Phuket, not to speak of elite complexes with even more advantages and services included by default. All the listed amenities, for example, daily use of the pool or gym, do not require additional fees.

The most common option is to buy an apartment in Phuket, which has already been renovated and the basic furnishings have been installed. an air conditioner and a water heater, as well as an Internet connection (or there is access to a public Wi-Fi network). Nevertheless, becoming a full-fledged owner of square meters, you are fully entitled to equip your home at your own discretion. Naturally, demolition of walls and redevelopment is strongly discouraged, while other manipulations with the interior design are entirely in your power.

In addition, you do not have to limit your choice to already commissioned condominiums. In Phuket, construction of new residential real estate is almost continuous.Having received the keys to such an apartment, you will also become the owner of all the above amenities and services, but you will be able to save in price due to the discounts provided by developers.

What are the costs associated with the purchase and maintenance of an apartment in Phuket?

When purchasing an apartment in Phuket, you should be prepared for the fact that the transaction price will include taxes and fees established by the Thai government, namely:

  • registration fee, which is 2% of the appraised value of the apartment;
  • special business tax at the rate of 3.3% of the appraised value or contract price, or rather from the one which of these two options will be the highest. However, the need to pay it arises only if the apartment is resold to you earlier than 5 years after its acquisition by the previous owner;
  • stamp duty, equal to 0.5% of the appraised value or contract price, or rather from the one which of these two options will be the highest. It is levied only in cases where business tax is not required;
  • withholding tax, which is only 1% of the assessed value or contract price, or rather of which of these two options will be the highest, if the seller of the apartment is a company, or equal to income tax when purchasing real estate from an individual.

If the purchase of a home is not formalized as a property, long-term lease, then only a registration fee of 1% of the estimated the cost of the apartment and stamp duty, but at a rate of 0.1% of the appraised value or contract price, or rather from the one that will be the highest of these two options.

These payments are all standard and one-time payments, so you shouldn’t worry. However, it is worth remembering that to maintain or buy an apartment in Phuket after you have bought it, as in Russia, you will have to spend a certain amount of money every month. The exact amount of the amount varies from option to option. First of all, utility bills are among the mandatory ones. A kilowatt of electricity on the island costs from 4 to 8 baht, and a cubic meter of water costs about 40 baht. It is also not uncommon to pay monthly fees for the maintenance of the common area (usually the amount is close to $ 50). Sometimes some services provided by the employees of the condominium are not free.

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