While the current global situation with COVID-19 is causing a wave of fear among many property buyers, some savvy buyers and investors know that now is the best time to buy house in phuket.
1. The demand for rental real estate will grow
With several new buyers potentially putting off buying a home in 2020 due to concerns that the economic downturn and pandemic could affect their financial future, rental demand will rise in 2021. Real estate investors benefit from traditional rentals.
2. Real estate prices are available to investors.
Property prices seem to be falling in many areas of Phuket since the first quarter of 2020. This is a great investment opportunity for investors with cash or a good credit history to buy property at lower prices — another good reason why this year is the best. the best time to buy for investment purposes.
3. Sellers are more open to negotiations
The real estate market 2020 is a buyer’s market. There is no doubt about it. The year started with lower resale prices and affordable prices for current developments. With fewer buyers in the market, there is no better time than now to negotiate the best price. Get professional help from a reliable local real estate agent and work on the property before moving on. Remember, a good property always has more than one interested buyer. You should evaluate the property before making an offer, and act quickly before someone else does.
4. Thai Baht is weaker than last year
After a one-sided rise in 2019, the Thai baht fortunately returned to reality earlier this year. So, if your home currency is strengthening against the Thai baht, then this is the perfect time to start looking for an apartment. Be sure to check out the hot deals and discounts on each property from a reliable real estate agent to save even more money. The best deals are often closed before they hit the open market.
5. Real estate in Phuket can start generating income right now
Phuket is one of the best tropical destinations in the world, offering something for every visitor all year round. Investing in traditional and vacation rentals in Phuket gives you the opportunity to make a long-term profit. The earlier you buy an investment property and start a rental business, the earlier you will start earning rental income.
Experienced investors view the current situation not as an obstacle to growth, but as an opportunity to buy, renovate and complete real estate on time for a post-pandemic future.