Phuket property: Recession buster - under 125,000 dollars
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Posted On :
Dec-02-2011
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Article Word Count :
428
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Yesterday I went to see an apartment near Kamala on the West Coast of Phuket. The owner needs a quick sale, so the price is pretty good.
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Yesterday I went to see an apartment near Kamala on the West Coast of Phuket. The owner needs a quick sale, so the price is pretty good.
He bought it back in 2003 for 4,000,000 Baht (US$ 127,632).
And spent 800,000 Baht (US$ 25,526) on furniture.
Now he is asking just 3,900,000 Baht (US$ 124,441).
All the furniture is included too.
What is it like?
The apartment has 115m2 of living space.
Inside is an open plan living room with a large fully-fitted kitchen and 3 en-suite bedrooms.
Outside there is a small garden and a private terrace.
It's on the ground-floor which, according to a rental company who handle the resort, is the most popular.
Where is it?
The property is just outside Kamala on the West Coast of Phuket.
It’s a 2.2km drive to the beach, town and restaurants.
What about the development?
The complex is surrounded by virgin rainforest.
There are 45 apartments in 7 buildings, set within landscaped gardens.
You have a choice of 4 swimming pools; 2 lap pools (25 metres and 20 metres), a large family pool and a kid's pool.
Management is provided by a top international company.
They take care of the common areas, pools, gardens, and security.
Is it a good investment?
I spoke to a local company who manage 22 of the 45 apartments.
They told me the average rental yield is 300,000 Baht per year - after all taxes and fees.
And they have the last 4 years accounts to prove it.
So you can check this for yourself.
That makes your rental yield around 7.69% nett - after all taxes and fees.
Remember, that is the average.
With this apartment you are likely to make more because the ground-floor is the most popular.
Ownership
Ownership is leasehold with 24 years left to run.
After that, you are entitled to two, 30 year extensions.
A total of 84 years.
Running costs
Annual common area maintenance fees are 110,000 Baht (US$ 3,563).
That pays for the upkeep of the gardens, pool maintenance, common area lighting and security.
Electricity charges average 1,500 Baht (US$ 49) per month.
Water bills are a meagre 200 Baht (US$ 6.50) a month.
If you want to know more just drop me an email and I will send you everything you need (no obligation of course).
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Article Source :
http://www.articleseen.com/Article_Phuket property: Recession buster - under 125,000 dollars_113506.aspx
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Author Resource :
Whether you’re buying for your retirement, a holiday home or as a pure investment – this definitive guide will help you to avoid the most common pitfalls and scams.
'The Definitive Guide to buying property in Phuket'
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Keywords :
recession buster, Kamala property, Kamala beach, west coast Phuket, Phuket property, Phuket real estate, Phuket rainforest, P,
Category :
Finance
:
Real Estate
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