How To Buy Property In Phuket - Is There Still Value In The East End?

The Island of Phuket, in Thailand, is one of Thailand's most popular holiday destinations. With a number of options and locations, the visitors in Phuket can choose from a variety of resorts and areas of interest to buy property in Phuket. Besides the well known tourist areas like Patong, Kata, Nakhon Phanom and Mai Khao, there are other less known but equally interesting places of interest in Phuket. The charm of this island cannot be underestimated and the property market in Phuket has flourished over the years, especially after the 1997 elections when Thais elected their first majority government in thirty-six years. A great majority of the investment opportunities in Phuket come from property purchase or resale.

Areas of greatest interest for property purchase include the popular tourist destinations of Patong, Kata and Nakhon Phanom. While Patong, which was once a residential suburb of Bangkok, is now the preferred destination for international tourists looking to buy property in Phuket, it is not without its own set of problems and issues. Areas around Nakhon Phanom, however, are becoming an increasingly popular area for the purchase of property as Nakhon is enjoying a steady growth of the tourist industry. For those interested in the purchase of property in Phuket, these two areas provide the perfect example of how buying a holiday home can help you make money.

While Patong and its neighbouring areas are becoming more cosmopolitan, especially with the opening up of the silk industry to the west coast, prices in Phuket are still relatively high. However, along with the growth of the tourist industry on the west coast, the construction of a series of new hotels on the east coast is also starting to help inflate the prices of property in Phuket. For those who are interested in investing in property in Phuket, however, the slow growth of the tourist industry may put off property buyers from investing in properties in the capital city.

If property prices continue to remain high on the east coast, then it may be difficult for the average individual to afford a property in Phuket. The current economic situation has led many expatriates to shift their investments to the cheaper but more convenient, destinations such as Phuket, Thailand, or even Hong Kong. However, if you want to invest in property in Phuket, it will not be difficult, especially if you know where to look. Click here for more details about property phuket

One of the best ways to make an investment in property in Phuket is to look into the possibility of living in the city as a tourist. Phuket offers several cheap and good quality hotels that offer good value for money. As the demand for property increases due to higher population, property prices will also begin to rise.

However, there is one key piece of advice that you should always follow before investing in property. That is to never purchase a property when the economy is in a recession. This is because property prices tend to fall during times of recession. Investors often take advantage of the downturn in property prices and sell the properties at a much higher price. It will not be difficult for you to find a property that meets your investment criteria, so make sure that you know where to look.