To buy in Phuket, you will need a substantial cash deposit or full funds, as local mortgages for expats are notoriously difficult to secure.
When looking at Phuket, the most crucial starting point is understanding that traditional financing is rarely an option. Thai banks do not typically offer mortgages to non-residents, meaning you will generally need to secure liquidity upfront. Whether you are eyeing a leasehold apartment or a villa, you should prepare to fund the purchase entirely through your own capital or UK-based refinancing. While some developers offer short-term payment plans during construction, having cash ready is essential to secure the best opportunities.
Beyond the purchase price of the property itself, you must account for various transaction costs. These include registration fees, stamp duty, and legal fees, which vary depending on whether you choose a leasehold or freehold structure. Foreigners typically buy condominiums freehold or villas via leasehold, each carrying different tax implications. Because these government fees are subject to change and depend on the specific property type, we always advise consulting a qualified local tax specialist to calculate your exact liabilities.
Owning a slice of paradise also comes with ongoing financial commitments that buyers sometimes overlook. You will need to budget for monthly common area maintenance fees, which cover security, pool upkeep, and landscaping. Additionally, new-build developments usually require a one-off contribution to a sinking fund for future structural repairs. While we can introduce you to managed developments that handle these logistics, these running costs must be factored into your overall budget from the very beginning to ensure a sustainable investment.
As an introducer, our role is to connect you with vetted projects, but we do not provide financial or legal advice. Property values and rental yields can fluctuate, and there are no guaranteed returns in any real estate market. To safeguard your capital, we strongly recommend appointing an independent Thai lawyer to conduct due diligence. We are happy to discuss general price ranges and entry points privately to help you understand what is realistic for your budget before you make any commitments.
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