Phuket Property Investment:
Southeast Asia’s Top Destination for High Returns

No, foreigners do not need a specific visa to buy property in Phuket. Foreigners can legally purchase condos and enter long-term lease agreements for villas without holding any particular visa.

Yes, foreigners can buy property in Phuket, Thailand, though certain restrictions and legal structures apply. Condo: Foreigners are permitted to own condo units outright, provided that foreign ownership does not exceed 49% of the total area of the project. This allows for freehold ownership, granting full rights to the condo. Land and Houses: While Thai law prohibits foreigners from owning land directly, they can own the buildings on the land. To secure rights to the land, foreigners often enter into lease agreements, typically lasting up to 30 years, with the possibility of renewal. These lease agreements must be registered with the local land office to be legally enforceable. Leasing Structures: Developers may offer long-term lease options to foreigners, such as 25-year leases that are renewable. This structure provides a practical solution for foreigners seeking to invest in property without direct land ownership.​ Recent Legal Developments: As of June 2024, the Thai Cabinet approved measures to stimulate the economy through real estate investments, including extending lease terms for foreigners to 99 years and increasing foreign ownership quotas in condominiums to 75%. These changes aim to make property investment more accessible to foreign buyers. ​ Key Considerations: Legal Compliance: Ensure that all lease agreements are registered with the Land Department to secure legal enforceability. Professional Advice: Consult with legal experts familiar with Thai property laws to navigate the complexities of property acquisition and leasing.​ Due Diligence: Conduct thorough research on the property, developer, and legal obligations before proceeding with any purchase or lease agreement.​ By understanding these legal frameworks and recent developments, foreigners can effectively invest in Phuket's property market.

A "Use and Rent" model property allows buyers to both use the property for personal stays and rent it out when not in use, generating rental income. This model is popular in Phuket, where investors seek a balance between personal enjoyment and financial returns. How It Works: Personal Use: Owners can stay in the property for a set number of days per year, as defined by the developer or management company. Rental Management: When not in use, the developer or a third-party company rents the property out to tourists, handling bookings, maintenance, and operations. Revenue Sharing: Rental income is typically split between the owner and management, either as a profit-sharing model or a guaranteed return. Benefits of a "Use and Rent" Model: Passive Income: Owners earn rental income without managing the property themselves Hassle-Free Management: The developer or a professional property manager handles all aspects of renting and upkeep. Luxury Lifestyle & Returns: Buyers enjoy their holiday home while also benefiting from rental yields. Long-Term Value: Properties in prime locations can appreciate over time, offering potential capital gains. This model provides an ideal mix of personal leisure and investment potential, making it an attractive choice for foreign buyers in Phuket.

There are six main reasons why investing in Phuket's booming property market can be a good choice for investors: Robust property market growth projected – with anticipated annual growth rates between 5% and 7% in 2025 only, and residential property prices expected to appreciate by 10% to 15%, offering substantial capital gains for investors. Attractive rental yields – with projections indicating returns ranging from 6% to 10% in 2025, especially in prime tourist areas, providing lucrative income opportunities for property owners. Phuket leads Thailand in tourism revenue – officially the top-earning province in 2024, with increasing visitor numbers driving demand for high-quality accommodation.​ Thailand’s casino cities announced – Phuket is on the list, positioning it as a pivotal hub for investment and tourism.​ Major infrastructure enhancements underway – including AI-driven traffic management, significant road investments, and a $162 million expansion of Phuket International Airport to accommodate more international travelers.​ Rising demand from foreign investors – particularly from China, Europe, and the Middle East, fuelling the luxury villa and condominium markets and contributing to sustained property value increases.

While no visa is required for purchasing property, several visa options can allow investors to stay in Thailand for extended periods. Types of Thailand property investment visa 1. Investment Visa (Non-Immigrant IM Visa) Eligibility: Requires an investment of at least 10 million THB ($280,000) in qualifying assets (newly built condos, Thai government bonds, or fixed bank deposits). Duration: Starts with a 90-day visa, extendable to one year, renewable annually as long as the investment is maintained. 2. Thailand Elite Visa Overview: A long-term visa program with residency options ranging from 5 to 20 years in exchange for a membership fee. Benefits: Multiple-entry privileges, extended stay periods, and exclusive concierge services. Cost: Starts from THB 500,000 ($16,000) for a five-year visa. 3. Retirement Visa (Non-Immigrant O-A Visa) Eligibility: Available for individuals aged 50+, requiring proof of financial stability (monthly income of 65,000 THB or a Thai bank deposit of 800,000 THB). Duration: One-year visa, renewable annually. 4. Long-Term Resident (LTR) Visa Overview: Designed for high-net-worth individuals, retirees, and professionals. Benefits: Grants a 10-year renewable visa with multiple-entry privileges. Eligibility: Requires meeting specific income or investment criteria. While property investors do not need a visa to buy property in Phuket, these options provide long-term residency solutions for those looking to live or visit frequently.