Often referred to as the 'Pearl of the Andaman Sea', Phuket has become one of the most popular tourist and holiday destinations in Asia. People from all over the world travel to this Thai island to enjoy white sandy beaches, tropical rain forest, world-class entertainment and the renowned smiles of the Thai people. As the island's reputation has grown, so has the number of offerings available for the millions of visitors who arrive here every year and Phuket has never been more popular. One of the reasons for this is the island's ability to constantly renew itself in order to maintain the appeal and continue to attract visitors, many of them for the second, third, or tenth time.
When the tourism industry first started to grow on Phuket most visitors would stay in the many hotels and resorts located on the island. However, especially families or large groups of people found it increasingly inconvenient and pricey having to rent several rooms in the same resort and a new industry was born: private villas. Oftentimes offering the same services as, or even better than the traditional hotels and resorts, private villas became progressively more and more popular in the 2000s as many economies around the world experienced growth years and people has time and money to spend. The idea of having a private villa in a tropical paradise like Phuket was appealing to many and with the prices for prime real estate in Thailand relatively low, many international investors started to construct world-class villas of the hills and beachside of the island.
Such luxury villas are often divided various categories: some villas are built by an individual investor for the purpose of selling straight away, with the hope of making some fast cash. This type of investment was mostly done in the beginning of the 2000s before land prices went up and while demand was still high. Nowadays the profit margin has arguably narrowed and this practise has thus become more rare. Other villas are bought also as an investment, but as one to hold on to and for the purpose of renting out. Rental returns greatly vary depending on the villa and the location, yet it is arguably the best way to make returns on your luxury villa, as Phuket is likely to continue to attract tourists for many years to come.
Others buy solely for private use as a second home or as a retirement home. This type of villa tends to be more personalised as the owner does not have to take into account the rental factor and may thus design and construct a villa purely based on his or her own needs and taste. On the other hand, rental villas tend to come in more neutral designs in order to cater to as many different people as possible and not offend potential clients. With the great variety of villas available both for purchase and rental on Phuket, there is something for everyone, companies such as Luxury Villas and Homes will be able to assist both potential buyers and tourists find the perfect private luxury villa to suit their individual needs.