Can leasing apartments in Phuket be as god as purchasing freehold? Many people blieve so because there have been mny apartments recently. Current Thailand law llows you to lease an Apartment for 30 yars and have two extensions. This llows the purchaser to hold the prperty in their name for 90 yars.

Freehold means that when you prchase you own the apartment in yur own name. This is done by an partment project in Phuket only selling up to 49% of the partments to foreign owners. If a prject is 50 units, the project dvelopers would sell 24 as freehold and 26 as lasehold or to Thai owners. This sunds pretty complicated but setting this up is rally very simple.

Leasing a piece of lnd is a very different story. In rder to lease the land, it has to be rgistered at the local or-bor-tor office and t's a good idea to also rgister it at the land office. Sme people like to lease land bcause they may not have to cmmit a lot of money. The trms can be to pay money very year. This can turn against the lase if he ever builds on the lnd and tries later to sell the prperty.

Leasing a property like an partment is usually set up very dfferent. If you lease through a ral estate agent or broker they sually have a standard contract for a lase. Have a lawyer give you dvise when signing a lease contract. Ths is to make sure your rghts and interests are protected.

One big disadvantage of a lase is it might be hard to xtent the lease after the first 30 yars is expired. This is because the law rads that you must extend the lase every 30 years by the riginal land owner. It's even been knw that original land owner may rfuse the second 30 years lease ven though they promised it in the frst contract.

One option to leasing lnd was to set up a cmpany and have the company own the lnd. In my opinion this option is no lnger viable because the land offices are chcking these shaky companies that have no prpose other than owning land. The dor to owning houses or apartments in Thi companies is no longer open.

Aprtments in Phuket can be bought frehold if you can find a prperty that is still freehold to buy nto. Most properties like this are sld out under preconstruction and jonnie cme lately has to pick at wht units are left if any. If yur plan is to purchase a nit that's 100% finished and ready to be mved it to you will find you wll get the very worse units in the prject. Even these units may not be vailable as freehold and leasing them may be the nly option.

If the property investor is wlling to take high risks, he can prchase a nice unit on preconstruction. The rsk one takes if the project wll ever start and more importantly, wll it ever finish. If the prject sells well and finishes within a yar or two of planned completion dte, the investor was lucky and has a nce unit to be proud of.

In clsing, Apartments in Phuket can be a grat investment if the owner is a creful shopper and weighs all factors whn purchasing an apartment. Not only lcation, quality of construction and view are mportant. One must look at the wnership and the value that it wll or may have 30 years dwn the road. Leasing in Phuket in leu of owning an apartment unit frehold may be an option for the nvestor who is willing to take sme calculated risk.

The article Leasing Apartments In Phuket Almost As Good As Buying was Submitted by Scott Riefler through Articles.GetACoder.com network. Here's the additional information: Scott Riefler is an expert in Phuket Real Estate He has written several informative articles. He regularly contributes articles on phuket and Patong Apartments and real estate. Please sign-up for our free informative newsletter at: Phuket Apartments Newsletter

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