Phuket is set to be a haven for investors who are easily captivated by its natural beauty, low cost of living and unique Thai hospitality. Phuket already has a great infrastructure in its quality schools and hospitals, reports Castlewood Group. Now Phuket is an island where you can safely invest in property and see a healthy return on your investment, Phuket is no longer just a tourist destination but an investment market with a successful and growing reputation.
Why Invest in Phuket?
Many people are opting to invest in ‘off plan properties’, this type of investment allows for greater savings rather than buying a re-sale property. The later the stage of completion for a property usually means a higher cost than when construction began; typically you can save around 30% when buying an off-plan property compared to a finished property in Phuket. There is usually a ‘first come, first served’ principle in off-plan buying; this means when you buy off-plan you get the best choice of plots, location and views.
Returns on investment are then typically between 5 and 25% annually and should you also choose to rent the property, a very healthy income can be enjoyed. Consider investing money into a bank, can you imagine anywhere near these type of returns in your investment?
“Phuket has all that an investor is looking for; beautiful beaches, coral reefs and wildlife, luxury resorts and more importantly, an exotic lifestyle that is highly affordable. Tourism rates are growing rapidly as there are more direct flights from China, Russia, Australia and the Middle East to Phuket,” commented Chris Comer, Managing Director of Castlewood Group, a commercial real estate developer based in Singapore.
The 8over8 luxury hotel, a project by Castlewood Group, provides 173 luxury suites and will allow investors to enjoy 5-30% annual returns with a minimum investment of S$49,500. The 8over8 hotel which is due to complete by the end of 2012 is located in the idyllic area of Bang Tao beach, close to the stunning Laguna Resort in Phuket.
