Country Article / Postcards
17% Returns in Thailand--For One Person Only
Date: 03/25/2004Dear Reader,
I potter across blissfully cool tiles to the balcony with my morning cup of coffee to survey what's happening in the Nai Harn world. Our balcony overlooks a lagoon--the path around it is used as both a jogging and cycling track. Local keep-fit enthusiasts are flexing their muscles before the day heats up. Venturing out here last night for a nightcap, I could see tiny geckos pitter-pattering down the whitewashed walls…and across the road, the lights of night fishermen bobbing and dancing along the water's edge.
One of the condos here--in the Sands resort--is for sale for 5.5 million baht ($140,000). Whether you're looking for a permanent base in Thailand, or a place you can rent out, this particular condominium residence seems the perfect introduction to the Phuket property market. It has 24-hour security, a pool, a small restaurant, and is only a brief stroll from Nai Harn's tourist-free white sand beach where the sea is bathwater-warm.
Condo fees are 5,000 baht ($126) per month but during the high season (November through February) whoever buys this condo will be able to rent it out for $200 per night--a 17% return per year at maximum occupancy.
Steenie Harvey
Roving Travel Writer, International Living
P.S. There's a lot of small-scale development happening in Phuket. It seems fairly common for an expat to buy a plot of land and build several houses; one to live in, the rest to sell. Foreigners buying land in Thailand isn't exactly straightforward; not enough space to go into the details here, but yes, it is possible. For full details of my Thailand investigation, as well as my photo diary, go to: http://www.internationalliving.com/steenie/journal.cfm.
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