Why Buying Properties in Phuket in 2021 is a Win-win Situation
Is it wise to engage in property purchase in 2021?
The world is still picking up from the mess and distress COVID-19 has brought. The real estate industry sector experienced unprecedented losses as stricter government measures resulted in limited movement among tourists and foreign investors. While things might still be rough, there can be a silver lining to all these!
With proper perspective and actions, investors can make the most of this situation. Let us discuss how you can optimize the real estate opportunities in 2021, especially in Phuket!
Thailand’s Economic State
As the pandemic took a significant hit at the onset of 2020, Thai Baht’s value dramatically decreased. While this has detrimental effects on the country’s economy as a whole, real estate investors must see this as an opportunity to find the best deals and discounts for properties available in the market. In Phuket, the economy is slowly beginning to recover, which means that property prices will also start to surge once everything gets back on track.
The Marketability of Phuket
In terms of business opportunities in Thailand, you can never go wrong with Phuket! Even at the heights of COVID 19, Phuket caters to tourists from all parts of the world. This is because the province always has something to offer for visitors regardless of the year’s season. The Thai government has even set “special tourist policies” to enter Phuket.
Currently, Thailand has begun opening its borders. Such is caused by its effective COVID-10 measures making it one of the few countries in the world to be considered low-risk in COVID-related infections, as authorized by the US Centres for Diseases Control and Prevention (CDC) and EU Safe to Travel Countries.
In terms of real estate investments, Phuket offers several property types and policies. One can choose from traditional rentals and holiday rentals, leading to long-term profit. Developers have also been active in refurbishing and improving existing projects that mean more significant investment opportunities in the years to come.
The Benefits of a Pandemic-stricken Real Estate Industry
In the real estate space, investors know that low seasons are opportunistic times. Despite the damaging effects of the pandemic, properties will never be out of business. Real estate serves as long-term investments. As years go by, property market value also increases, especially in places with potential economic opportunities, such as in Phuket. While those new to the business might get discouraged from investing due to poor sales, wise investors see this as big-time opportunities.
Hence, 2021 is the perfect time to engage in Phuket’s real estate industry. Phuket is undeniably Thailand’s most valued gems due to its heavenly natural resources and picturesque vibe. The country expects businesses to soar in the province when it fully opens to travelers and those seeking retirement. Currently, developers flock to Phuket to build various projects ranging from low-term to high-end properties.
Now is the time to take a chance and invest in these opportunities and expect profits in the coming years.
