Current Villa Prices in Phuket
The market for Villas in Phuket has changed in recent years. Now that people around the World regain confidence in their economy, having a holiday home in a tropical paradise is becoming more popular. Buying a Villa in Phuket doesn’t have to be expensive and could be within reach for you and your family. Here is some insight into the Villa prices in Phuket.
History of Phuket’s Villa Market
At the beginning of this century, the Villa market in Phuket was very different. Today, most of the Villas built are an answer to the growing amount of tourists looking for a luxurious holiday accommodation. In 2016, there are currently over 3,000 constructed Villas in Phuket, in 2004, their were less than 200 Villas on the island.
The financial crisis created a flat demand for Villas in Phuket from 2008 to 2012, as many tourists suffered from financial setbacks. This caused the rate of Villa and Estate construction to slow down during those years.
The needs and demands of Phuket’s visitors have changed too. In the past decade, many people preferred the highest level of luxury and they had the budget to buy a luxury Villa. In today’s market, modest Villas are more popular and are in steady demand.
Types of Available Villas in Phuket
Today, many of the Villas in Phuket are priced under 15 million Baht, which makes for a more affordable investment. Most of the new projects constructed in Phuket are in this price category. These entry-level Villas are especially popular with new investors.
Luxury Villas will always be in demand for people who like privacy and a high level of comfort. These Villas start at a price of about 35 million Baht and can be used as an investment or second home, if you have the budget for it.
Most luxury Villas are built on the mountainside to give you a spectacular view over the sea. They often have a private pool and a beach within walking distance. If you own a luxury Villa but don’t want to deal with maintenance issues, you can outsource this task to professional property managers.
Luxury resort Villas can be a good choice if you like to enjoy the absolute best possible services and management. You won’t have to worry about things like maintenance or interior decoration as everything is taken care of for you. Cleaning and cooking staff are available and facilities like restaurants, spa, transportation and golf are offered. These properties tend to have a higher monthly maintenance expense.
When you’re not enjoying the Villa yourself, you can easily rent it out thru a broker or the resort’s own managed rental system. The available staff can take care of your rental guests, which makes it easy on you and gives you a chance to earn money on your property outside of your holidays.
The lower priced luxury resort Villas in Phuket can be bought for about 40 million Baht and the most luxurious 5 star resort villas can cost up to 100’s of million Baht. The most well-known resorts of this type are Banyan Tree, Trisara and Andara.
Choosing the best area to buy your Villa in Phuket depends on what you’re looking for. Before buying a Villa, you should be familiar with the qualities of Phuket’s different areas and know which qualities are important to you.
Properties on the West coast are expensive on average, as this is the most developed area of the island. If you like to go out a lot, enjoy a wide variety of restaurants and meet new people, this can be a great area for you to purchase a Villa. The range of Villa prices in the West area is very broad, starting as low as 12 million for the smaller Villas and going all the way up to 100’s of million Baht.
The South coast has seen a lot of Villa projects come over the years. The advantage here is that the beaches are not as crowded and it’s quieter on average, but it takes 90 minutes to reach the airport from here. Villas in the South area start at about 8 million Baht.
The East coast is the place to be if you like to sail on your yacht. The area is home to many luxurious marinas and there are plans for more. Villas in the East area are available in all price ranges, from low-priced to very expensive. The East coast has been on the verge of popularity for years now.
The most promising area for Villas is the North, which is the least developed area of Phuket. There are great beaches in this area that aren’t very crowded. You’re very near to the airport and a Villa in this area can give a great return on investment, once the tourist focus shifts to here. There are just a limited number of Villas in the North area.
How to find the Best Villas in Phuket
You can get the best prices on Villas when you buy off-plan. This means that you buy a Villa before or during the building process. If you know exactly what you are looking for and a project lives up to your demands, building off-plan gives you a great bargaining position. It also gives you access to Villas that would otherwise might be sold already, if you wait for the projects to finish. It’s not uncommon to get a 20% – 30% discount by buying off-plan.
Real Estate agents can be of great help in finding good deals for you and minimizing your risk. Because of their wide network, they can get you the inside information you need to get a great deal. If you tell your agent exactly what you are looking for they can shorten the process dramatically. Agents can sometimes get you into contact with property owners before their Villas even enter the public market.
If you want to buy a Villa in Phuket and like to be assisted by a real estate agent with years of experience, click here.