Three Reasons Why Singapore millionaires are buying property in Phuket

3 Reasons Why Singapore Millionaires Are Buying Luxury Property In Phuket

In recent years, the island of Phuket has emerged as the number one destination for foreigners to invest in. Phuket is fast becoming a popular home to many successful Singapore millionaires who are snapping up real estate in this booming country. 

Phuket is more than a mere popular vacation spot. Phuket is home to some of the most incredible beaches, unforgettable breathtaking views and also high-end luxury homes. The property market in Phuket has been a lucrative market in the past years and local developers are still propping up new luxury properties in Phuket for sale.

Some see Phuket as still being undeveloped compared to other Asian locations but you have to remember that this is where the opportunity lies. Phuket is still developing and the new government initiative to attract foreign professionals and investors is expected to help tremendously with the economic growth over the next years.

Let’s look at the 3 reasons why Singapore Millionaires are buying property in Phuket in 2023.

1. The Phuket Lifestyle:

The island of Phuket is a tropical paradise right in the middle of the Andaman Sea. There is no better place to go and enjoy turquoise blue coastlines and multiple little islands just a hop away. We mentioned the view already but this place gives you some of the best picturesque sights on the planet. 

Who wouldn’t want to wake up to this every morning? 

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Thanks to Phuket’s rainforests and white sandy beaches, it attracts hundreds of thousands of visitors each year and is a hotspot for pleasure seekers and thrill-seekers alike. From activities such as paragliding to snorkelling and scuba diving, there is something for everyone. We wrote this post on the 10 things to do in Thailand which will give you more insight into what there is to do in Phuket.

2. Phuket Investment Opportunities:

There are millions of tourists that visit Phuket every year but don’t let this put you off. These holidaymakers are your key to a great investment. Most foreigners come to the island with the intent of spending a couple of months here. This makes housing and rentals a major driver of the local economy. 

This is one of the opportunities as you can buy a vacation investment home and rent your luxury property to long term holidaymakers whilst having a trusted property management company look after your property and all visitor booking.

If you are someone that is not keen on renting your property to over people and you wish to live in the property then no worries. The tourist can be found mainly in the centre of Phuket and the popular beaches; however, your property can be a secluded private sea view villa with its own access to a private beachfront. The dream is real and this can be your reality. 

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2. Phuket Investment Opportunities:

There are millions of tourists that visit Phuket every year but don’t let this put you off. These holidaymakers are your key to a great investment. Most foreigners come to the island with the intent of spending a couple of months here. This makes housing and rentals a major driver of the local economy. 

This is one of the opportunities as you can buy a vacation investment home and rent your luxury property to long term holidaymakers whilst having a trusted property management company look after your property and all visitor booking.

If you are someone that is not keen on renting your property to over people and you wish to live in the property then no worries. The tourist can be found mainly in the centre of Phuket and the popular beaches; however, your property can be a secluded private sea view villa with its own access to a private beachfront. The dream is real and this can be your reality. 

3. It’s Socially-Economic:

Thailand has a very low cost of living and Phuket in Particular. This makes this one of the best places to buy investment property in Asia. This also makes Phuket and Thailand, in general, a very attractive place for people who are looking for a long term stay or even retirement to enjoy a peaceful life. Thousands of foreigners buy Phuket property with the goal of making this place their retirement destination of choice. 

One thing is for sure, people will always be retiring. Whether you are looking to buy now and live in Phuket now or buy and sell in the future is your decision and both will reap the benefits that investing in Thai property has to offer. 

So there you have it, 3 reasons why Singapore Millionaires are buying luxury real estate in Thailand and more specifically Phuket

If you are looking to buy property in Phuket, we invite you to contact us here and we can arrange a call to discuss how you can own property in Thailand and also help you on the path to finding the right property for you. We specialize in finding you the best properties in Thailand.

You may be interested in this post >>> Things To Keep In Mind While You Buy A Condo in Bangkok.

You may also be interested in this post >>> How Many Foreigners Live In Thailand in 2023 and Where?

Chris Wyatt
Chris Wyatt

Chris is an knowledgeable real estate professional with many years experience in promoting and helping people find the right property to buy.

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Disclaimer: This article is not to be taken as legal advice in any form. The information in this article is for educational and informational purposes only. If you require legal advice in Thailand you should contact a professional.

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