Phuket Island is undeniably one of the more popular options for tourists and expatriates alike who long for retirement or even holidays in Thailand. In the fourth quarter of 2012 alone, the real estate market in Phuket Island saw the sale of a total of 2,789 units to foreign investors. It has been observed to be steadily growing year on year, making the island an addition to the list of attractive options for the foreign investor.
But what exactly is it that makes foreign investors come flocking over to this exotic island in Thailand? Well, there are three reasons for it – the beautiful beaches, the many activities one can enjoy while staying in Phuket, and the relatively affordable cost of living in the island.
Average cost of living in Phuket is quite affordable, as we have mentioned earlier. According to Numbeo, a single meal in an inexpensive restaurant for one person costs an average of THB100 which, on the current exchange rate, costs only roughly $3. Multiply that by 3, and a person can satisfy his food needs on a budget that is less than $10 for one day! Numbeo also pegs the average price of a McDonald’s Combo Meal in Phuket at THB220 or roughly $6.9 per meal. Gasoline prices are also low here, with an average price of $1.30 per liter, or THB41.55.
Phuket is a tourist’s hub, first and foremost. It is only right and even expected that there will be a host of activities for anybody who comes to the island. They are too numerous to be listed here, so let’s just summarize the activities. There is a wide range of activities in the island. You can go on natural tours and experience nature in this side of the tropics. Tourists can go to the beaches and engage in various water-based sports like sea kayaking, parasailing and many others, or you can take a cruise onboard a luxury yacht. Other attractions in Phuket include the Phuket Bird Park – for bird lovers out there – and the Baan Teelanka or the “Upside Down House.”
Last but not the least, Phuket is where one can find many white sand beaches! The island has an area of only 540-square kilometers, so residents and expats don’t have to drive very far in order to enjoy sandy beaches and some sun. The weather in the island is also favorable, with rains expected only during May until October – these months mark the monsoon rain season for the island. In all other months, people can expect mostly sunny days that are ideal for heading over to the beach.
By living in Phuket, the foreign expats are allowing themselves the chance to experience all that the island has to offer. They are just right outside their doorstep, after all.
Contact a real estate agent now and find out what it takes to invest on a property in Phuket Island. That is perhaps the best investment any expat can make in the country of Thailand.