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Follow on Google News | ![]() Phuket property: Recession buster - under 125,000 dollarsYesterday 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.
By: Rebecca Smith 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 (mailto:info@ # # # Phuket Ocean Villas specialise in luxury property in Phuket, Thailand. We have a superb and extensive portfolio of luxury property in Phuket, available in breathtaking locations throughout the island, including new property, resale property and land. End
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