Yesterday I went to see an apartment near Kamala on the West Coast of Phuket. The owner needs a quick sale, so the price is pretty good.
He bought it back in 2003 for 4,000,000 Baht (US$ 127,632).
And spent 800,000 Baht (US$ 25,526) on furniture.
Now he is asking just 3,900,000 Baht (US$ 124,441).
All the furniture is included too.
What is it like?
The apartment has 115m2 of living space.
Inside is an open plan living room with a large fully-fitted kitchen and 3 en-suite bedrooms.
Outside there is a small garden and a private terrace.
It’s on the ground-floor which, according to a rental company who handle the resort, is the most popular.
Where is it?
The property is just outside Kamala on the West Coast of Phuket.
It’s a 2.2km drive to the beach, town and restaurants.
What about the development?
The complex is surrounded by virgin rainforest.
There are 45 apartments in 7 buildings, set within landscaped gardens.
You have a choice of 4 swimming pools; 2 lap pools (25 metres and 20 metres), a large family pool and a kid’s pool.
Management is provided by a top international company.
They take care of the common areas, pools, gardens, and security.
Is it a good investment?
I spoke to a local company who manage 22 of the 45 apartments.
They told me the average rental yield is 300,000 Baht per year – after all taxes and fees.
And they have the last 4 years accounts to prove it.
So you can check this for yourself.
That makes your rental yield around 7.69% nett – after all taxes and fees.
Remember, that is the average.
With this apartment you are likely to make more because the ground-floor is the most popular.
Ownership is leasehold with 24 years left to run.
After that, you are entitled to two, 30 year extensions.
A total of 84 years.
Annual common area maintenance fees are 110,000 Baht (US$ 3,563).
That pays for the upkeep of the gardens, pool maintenance, common area lighting and security.
Electricity charges average 1,500 Baht (US$ 49) per month.
Water bills are a meagre 200 Baht (US$ 6.50) a month.
If you want to know more just drop me an email (mailto:email@example.com) and I will send you everything you need (no obligation of course).
About the Author
Rebecca Smith is a real estate journalist and author with over 15 years’ experience. She has published several books to date:
‘The Definitive Guide to buying property in Phuket’
’10 simple ways to slash your marketing costs and sell more property’
Rebecca is currently the sales director for Ocean Villas Group and Phuket Ocean Villas.