What does about $350,000 USD get you on the west side of Phuket overlooking the beach? Here is tour of a 1 bedroom 75 square meter condominium at the Aspasia Phuket, this condo used to be the business office at the Aspasia Phuket resort, but was converted into a 1 bedroom condominium.
Here is a little history about the Phuket real estate market, back in 2003 this same unit was going for about $100,000 USD, similar units in other developments on the west coast of Phuket were also going for the same price in square meters, now keep in mind, the condominiums I am talking about are beach front properties, which makes a BIG difference in price.
When I bought my condominiums back in 2003 the Aspasia was still under construction and the market was Very young, so the prices were considerably cheaper, back then, they really didn't know how to price them. The demand for these condominiums increased between 2004 present date, hence, the Phuket condominium market has skyrocketed.
There is a ton of development going on here and condominiums are selling like Hot Cakes, but my advice is before you invest your hard earned dollars, Do Your Research, the Internet is a good place to start, you can find a lot of options, then you can come to Phuket and actually see the development, this is really important, sometimes what you see on the Internet or some marketing brochure doesnt really match what is actually there. Here are a few points to keep in mind:
Sea View: You have a view of the ocean, but that's all you have, the beach access may be 15 -20 minutes drive or walk away.
Beach Front: You have a good sea view and the condo is only minutes walk to the beach, but this minutes walk may be across a major roadway, this can be a major hindrance when you have to dodge traffic to get to the beach.
Whats Best: If you want good beach access make sure the unit does not have any roadways in front of it.
Make sure the foundation of the building is solid, I have seen just about every new development on Phuket; from the time it broke ground until it was completed, since land is getting scarce, building has started on a lot of the hill sides, so please check these out before you commit. I have seen a few that look like they may topple over on the next mud slide.
