What is the best location to invest in real estate in Phuket?
The Covid-19 pandemic has had a significant impact on the tourism industry globally, with airlines shutting down and Thailand being directly affected. As a result, the economy of Phuket, which relies heavily on tourism, has also been severely impacted.
However, the lack of tourism has allowed the environment to thrive, with an increase in wildlife and pristine beaches. Phuket can be divided into three main regions, each with its advantages and disadvantages.
The Southwestern region of Phuket is renowned for the popular tourist destinations of Patong, Karon, and Kata beaches, which makes it a bustling area with a diverse range of restaurants and entertainment venues in the vicinity. Prices in the Kathu District are generally higher than those in the rest of Phuket, which can be either beneficial or disadvantageous, depending on your requirements. If you’re seeking to rent a home, villa, or condo, this region is expected to be in high demand.
The eastern region of Phuket is renowned for its high-quality cafes and restaurants and is also home to the peaceful beaches of Rawai and Chalong. Despite being located further away from the airport and primary tourist hotspots, you are in closer proximity to Phuket Town and are protected from potential tsunamis. Additionally, this area tends to be more affordable than other parts of the island.
The northern region of Phuket is located between what the eastern and southern regions have to offer. It’s easily accessible to the airport, as well as both Patong and Phuket Town. Tourist infrastructure, such as hotels and restaurants, can be found in the Laguna Phuket master development located on Bang Tao Beach. Furthermore, branded residential condos and villa projects like the Banyan Tree Grand Residences are available here.
Prices in this area tend to be less expensive compared to the southeastern region of Phuket, except for hotel branded projects in the Laguna Phuket development. Therefore, it’s crucial to choose the right location in this area to avoid overpaying.