Phuket is the biggest island in Thailand and is located to the South-West of the country. This stunning tropical location has long been one of the most popular tourist destinations in the world and many expats have picked this spot to settle down and enjoy a life in paradise. But is Phuket a good area to invest in property in 2022? In this article we’ll tell you everything you need to know.
Is now the best time to invest in Phuket?
The recent COVID-19 pandemic has brought on a lot of anxiety for investors – particularly when looking to purchase property abroad. However, now is a great time to invest in Phuket and we are going to tell you why:
- Demand for rental properties is on the rise: As a number of first-time buyers may have delayed their investment in Thai property there is a high-demand for rental properties in 2022. This puts you in a unique position to invest and make a return on renting your property out.
- Property prices are currently more affordable for investors: Property prices in many areas of Phuket seem to be going down and this is a great opportunity for property investors to buy property at lower prices.
- Sellers are much more open to negotiation: As there are currently fewer buyers in the market, property sellers are much more likely to be open to negotiation. Do your research and hire the professional assistance of a premium real estate agency and you may just be able to bag yourself an amazing deal.
- The Thai Baht is currently weaker than in 2021: Your home currency is likely very strong against the Thai Baht at the moment, making it an ideal time for house-hunting.
- Properties in Phuket can be profitable immediately: As Phuket is one of the most popular tropical destinations in the world you can turn your investment into lucrative holiday rentals immediately. The post-pandemic future will see an influx in holiday makers flock to Phuket from all over the world and now is a great time to get in while the going is good.
- History often repeats itself: Whenever a crisis hits, quick-thinking investors can take advantage of buying properties at bargain prices and wait for the unavoidable rebound.
- Real-estate remains one of the best long-term investments: Real estate has long been one of the safest and most profitable forms of investment and if you have valuable tenants paying your mortgage payments for you it will make your long-term investment all the more profitable.
- Phuket will always be popular among tourists and expats: Again, Phuket has long been one of the most popular tourist destinations in the world and that isn’t going to change in a hurry. It’s a beautiful destination with so many valuable amenities (which we will cover shortly) making it a prime location for investment.
- Thailand has been one of the safest countries to be in during COVID-19: Thailand’s amazing response to the COVID-19 pandemic put it on the map as being one of the safest places to travel to during the pandemic.
What is there to do in Phuket?
There really is so much to see and do in Phuket. Being the largest island in all of Thailand, you have a whole 543 km² to explore! Let’s look at some of the best restaurants, bars, and shopping malls available for your enjoyment in Phuket.
The 10 best restaurants in Phuket
Let’s take a look at the 10 best rated restaurants in all of Phuket:
- Chao Leh Kitchen
- La Sala – Anantara Mai Khao Phuket Villas
- Rim Nam Pool Bar
- Le V restaurant
- Takieng Thai Restaurant
- Bill Bentley Pub at Turtle Village
- Vero Italian Trattoria and Wine Bar
- Amritsr Phuket
- Thong Dee – The Kathu Brasserie
The 10 best bars in Phuket
And now for the top 10 best rated bars in all of Phuket:
- Sugar Club Phuket
- Art Space Gallery and Music Bar
- Russel Sunset Bar
- The Hole
- Red Hot Club
- Mojito With Love Kata Beach
- Aussie Bar
- Walkabout Sports Bar
- Heroes Bar
The 10 best shopping malls in Phuket
But it’s not just restaurants and bars that Phuket has to offer. There is so much opportunity for shopping as well! Let’s take a look at the 10 best rated shopping malls in all of Phuket:
- Central Phuket
- Central Patong Phuket
- Turtle Village Shops & Cuisine
- Kata Shopping Centre
- Banana Walk
- Premium Outlet Phuket
- King Power Phuket
- Limelight Avenue
- Boat Avenue Villa Market
The 10 best flea & street markets in Phuket
If you would rather try some of the local flea and street markets instead, Phuket has so many amazing markets to choose from. Step away from the high-street shopping experience and enjoy something more traditionally Thai:
- Sunday Walking Street Market (Lard Yai)
- Naka Market
- Malin Plaza Patong
- Phuket Weekend Night Market
- Chillva Market
- Karon Temple Market
- Patong OTOP Shopping Paradise
- Kata Night Market
- Awa Market
- Vintage Market Phuket
The 10 best beaches in all of Phuket
Phuket is home to some of the most beautiful beaches in the entire world. The great thing about living on such a big island is that you can choose from a stunning variety of beaches depending on what kind of mood you are in. Feeling like being on a secluded beach? Want to hit a busy spot with some great bars and restaurants? Or are you in the mood for some snorkeling? Phuket has something to offer everyone!
- Kata Beach
- Freedom Beach
- Kata Noi Beach
- Ya Nui Beach
- Surin Beach
- Paradise Beach
- Nai Harn Beach
- Bangtao Beach
- Patong Beach
- Karon Beach
The 10 best things to do in Phuket
In addition to all of the great bars, restaurants, beaches and shopping experiences, Phuket is home to a wide variety of exciting excursions. Here at the top 10 rated best things to do in all of Phuket:
- Visit the Soi Dog Foundation
- Spend the day at Bang Tao Beach
- Enjoy Freedom Beach
- Explore Monkey Hill
- Shop at Jungceylon
- Check out the Big Buddha in Phuket
- Splash around at the KC Slip-Fly
- Soak in the sights at the Karon Viewpoint
- Walk along Bangla Road
- Shop at the Sunday Walking Street Market
What areas are great to live in in Phuket?
Phuket is a very large area with many places to live in, so how do you decide which is best for you? Let’s take a look at some of the most sought-after neighborhoods on the island:
- Phuket Town: Phuket Town is essentially the capital of Phuket and is a great place to live. With a great atmosphere during the day and an even better nightlife, Phuket Town is well worth checking out.
- Chalong: Chalong is between Phuket Town and Patong and puts you in a fairly centralized location to explore what the island has to offer.
- Patong: Patong is the place to go for the party-lovers among you. It has an amazing beach and some of the wildest bars and nightclubs in all of Thailand!
- Kamala Beach: Kamala Beach is arguably one of the best locations in Phuket to live in if you have a family with you. It’s a great tourist spot with a wonderful community of expats and locals alike.
- Karon Beach: Karon Beach is a more low-key location that has a relatively exciting nightlife and a focus on budget living and tropical relaxation.
- Rawai Beach: Rawai Beach is considered one of the best locations for couples with tropical beach vibes and plenty of local amenities and shopping experiences to keep you satisfied.
- Bangtao: Bangtao is the place to go if you want to explore the longest and most deserted beaches on the island. This is the place to go for high-class living with night markets within reach, plenty of luxury resorts, and all of the tranquility one could ask for.
Properties for sale in Phuket
If you are interesting in seeing what properties are for sale in Phuket, then we have a number of amazing listings for you to explore. Check them out at your leisure and see if there is something that catches your eye.
New developments in Phuket
Phuket is home to a number of amazing new property developments and there has never been a better time to invest than right now. Take your time to browse some of the new development in progress and see if there is an investment opportunity that takes your fancy.
You may also be interested in: Living in Phuket, What is Not to Love