For decades now, the real estate market in Koh Samui has been very active. Most listed property on the island only takes a few weeks to be sold, thanks to the affordability of houses, well-developed infrastructure and the island’s natural beauty. In fact, Koh Samui is almost overtaking Phuket as a major business hub in Thailand. There are many locations where you can buy both commercial and residential property in Koh Samui. All you need to do is inform your real estate agent the property location you need, your budget and the property size. The types of properties that are usually on high demand on the island are beachfront properties. This means that such properties cost more when compared to properties located in other locations. What makes Koh Samui properties popular is that the property value also increases by about 20% per year, a perfect reason why you should invest in a luxury villa Koh Samui today.
Samui is the third largest island in Thai after Phuket and Koh Chang. The island has been a major tourist destination in Thailand since the nineties, a factor that has contributed to rapid growth of the island. Currently, Koh Samui is well developed and it also politically and economically stable. There is a wide range of five-star hotels on the island, international schools and hospitals, not forgetting recreation facilities like golf courses and cinema halls. Besides, life on the island is very affordable. Koh Samui can especially be a perfect place for retirees to spend their older days due to its cool and relaxing environment. There are also many investment opportunities on the island and you can purchase a luxury villa Koh Samui at a very competitive price.
When compared to Phuket, Samui is quite behind when it comes to resort developments. But this is actually beneficial to the island. With less modern developments, Koh Samui is one of the very few places today that have managed to maintain their natural beauty. Majority of the land in Samui is protected by the government, which means that the island’s environment will remain preserved for many years to come.
- How to buy land in Thailand
Foreigners who want to buy land in Thailand have two options available; the first one is by option leasehold contract. The landlord (a Thailand citizen) leases the land to a foreign investor in a period of 30 years, which can also be extended. The second option is through freehold. Thai laws prohibit foreigners from buying land in the island. So the second option is to form a Thai company Limited and own up to 49% shares. The 51% remaining must be owned by a Thai citizen. It is the foreign investors who will be in control of the company since the Thai citizen does not have voting rights. It is, however, important to ensure that all the Thai laws are met in the transaction. You can ensure this by hiring a Thai lawyer who is well informed of foreign land ownership in the region.
- The benefits of buying land in Samui
Koh Samui is currently known to have the fastest growing tourism market. There is a wide range of leisure activities that visitors can participate in, including the numerous tourist attractions in the island. With the booming tourism industry, rental property for sale is usually on high demand considering that the property buyer is guaranteed of high rental returns. If you live in a city, Koh Samui can be a perfect destination to have a quiet, relaxing time. Besides the natural beauty, Koh Samui also has a convenient climate in most parts of the year and it is also developed in terms of infrastructure.