What is a Condominium in Phuket?

Most potential investors exploring the Phuket real estate market encounter two terms: apartments and condominiums. While the former is relatively straightforward, with room counts based on bedrooms (e.g., a one-bedroom apartment is a two-room unit), the latter raises questions. Let's delve into this!

A condominium, or "condo," is typically a complex of apartments within a secured area, which may include one or more buildings and its own infrastructure: one or several pools, a gym, a sauna, a play area, a reception, and a cafe. Often, there is a free shuttle bus to the beach. In a condominium, owners possess not only their apartments but also a share of the common infrastructure. This type of real estate is popular in Thailand due to legal features: foreigners can own apartments, but their share must not exceed 49% of the total number of owners in one complex (although this quota is planned to be revised to increase the percentage for foreigners).

Advantages of Condominiums in Phuket

Amenities and Comfort

Condominiums in Phuket offer residents access to a wide range of amenities, including pools, fitness centers, saunas, children's playgrounds, barbecue areas, and garden zones. These complexes are often designed so that residents can enjoy all the advantages of resort living without leaving the premises.

Security and Privacy

Modern condominiums maintain high levels of security, including round-the-clock security, video surveillance, access control systems, and even staff trained to respond to emergencies. This ensures peace of mind and a sense of security for all residents, especially families with children.

Management and Maintenance

Condominiums offer professional management and maintenance services, meaning professional management companies handle the technical condition of the building, cleaning of the territory, and common areas. As a result, residents can focus on their daily lives without worrying about repairs or cleaning public spaces.

Social Environment

Living in a condominium provides opportunities for creating friendships and social connections. Common areas and events organized by the management company help residents interact and build a community. This can be especially beneficial for new residents looking for social contacts.

Economic Benefits

Condominiums often offer more affordable housing compared to standalone homes, especially considering all the provided amenities and services. Additionally, purchasing real estate in a condominium can be a profitable investment due to the growing demand for rental properties, particularly in tourist areas.

Ease of Property Management

For those purchasing real estate for investment purposes, condominiums in Phuket provide an easy way to manage the property. Professional management companies can handle all aspects of renting, including finding tenants, collecting rent, and maintaining the property.

Factors Influencing Real Estate Prices:

Accessibility for Foreigners: In Thailand, foreigners can purchase apartments in condominiums under freehold conditions, provided certain criteria are met. One of them is the restriction on the foreign ownership share, which must not exceed 49% of the total number of owners in one complex. This condition aims to maintain control over national real estate, but as mentioned earlier, changes are being prepared to increase the foreign quota to 75%.

Ease of Transaction: The process of purchasing an apartment in a condominium is quite simple and transparent. Most developers provide a full package of documents and assistance in processing the transaction, significantly simplifying the process for foreign buyers.

Examples of Popular Condominiums in Phuket

Cassia Phuket: Located in the heart of Bang Tao, Cassia Phuket offers stylish apartments with modern amenities. The complex features pools, fitness centers, and direct access to the beach, making it an ideal choice for those seeking a blend of comfort and convenience.

The Base Height: One of the most popular condominiums in Phuket, offering modern housing with luxurious amenities. It includes everything needed for comfortable living: pools, fitness centers, barbecue areas, and children's playgrounds.

Ocean Breeze: This complex is noted for its location near the beach and high-class amenities such as spas, restaurants, and cafes. It's an ideal place for those wanting to enjoy the sea breeze and the beauty of tropical nature.

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Conclusion

Condominiums in Phuket offer the perfect combination of comfort, security, and well-developed infrastructure. This makes them attractive to foreign buyers and investors looking to acquire property in one of the most beautiful places in Thailand.

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