Country Article / Postcards

17% Returns in Thailand - For One Person Only

Date: 03/24/2004

Dear 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.

Editor's note: This Sunday, March 28, Steenie will be hosting the "Living the Thai Life" Teleconference, answering all your questions about traveling, living, working, and retiring in this exotic land. This Teleconference is only for subscribers. If you're not a subscriber, you still have time to book your place, but hurry--there are only 150 spots available.