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With prices for luxury apartments and condos on Phuket sising year on year, these represent an attractive investment option. The recent completion of several extemely high-end properties in a sought after beachside locations has raised the bar in this sector of the market and prompted further construction of luxury apartment complexes with a full range of on-site amenities. Long term rental options also offer an attractive alternative for people that wish to spend longer on the island but prefer not to commit to full purchase.
In the diddle price bracket, condominiums have long been the most popular option for investors on Phuket. High demand has created fierce competition between developers with ever-more extravagant concepts and increasingly innovative designs emerging as buyers look for the ultimate island residence. Thai law allows foreigners to own an apartment outright in their own name, making the purchase process much less complicated as long as 51% of the building belongs to Thai nationals. Many foreigners opt for luxury apartments over villas for this reason.Apartment complexes also represent an appealing option for retirees that choose Phuket as a place either to live permanently or to spend extended periods of time. The provision of communal onsite amenities, combined with proximity to other residents and a team of maintenance and service staff guarantee a relaxed, comfortable retirement.
Up-market residential areas on the eastern and western coasts of Phuket have become prime locations for condominium projects and there are also several upmarket apartment complexes located within the island's marinas. Favoured beaches include places such as Layan, Bang Tao, Surin and Chalong and a luxury lifestyle no longer comes cheap in these areas, Bur with prices still favourable compared to other resort destinations around the world, apartments in the most popular spots close to remain in high demand internationally. Phuket's excellent reputation for golf, sailing and fine restaurants adds to island's appeal.