CONTENTS: INTRODUCTION, WHAT IS A HOTSPOT?, JOLLY HARBOUR, ANTIGUA - ST. JAMES, BARBADOS - GOLDEN SANDS, BULGARIA - DUBROVNIK, CROATIA - DUBAI, UAE - EL GOUNA, EGYPT - FORTALEZA, BRAZIL - ACCRA, GHANA - GOZO, MALTA - BUDAPEST, HUNGARY - KINSALE, COUNTY DONEGAL, IRELAND - LIMASSOL, CYPRUS - CANCUN, MEXICO - NATAL MIDLANDS, SOUTH AFRICA - NAXOS ISLAND, GREECE - MOUNT MAUNGANUI, LEIGH, NEW ZEALAND - NIMES, FRANCE - ORLANDO, FLORIDA - PANAMA CITY, COSTA BLANCA, PANAMA - KRAKOW, POLAND - LAGOS, REDONDO, PORTUGAL - MURCIA, SPAIN - UNAWATUNA, GALLE, SRI LANKA - PHUKET, PATTAYA, THAILAND - FETHIYE, TURKEY - ISOLA D’ELBA, TUSCANY - QUEENSLAND, ADELAIDE
| PHUKET, PATTAYA, THAILAND | |||||||||||||||||||||||||||||||||||||||||||
| C O U N T R Y
D A T A
| Population | 61.80 million persons | |||||||||||||||||||||||||||||||||||||||||
| Population Growth | 0.930% | ||||||||||||||||||||||||||||||||||||||||||
| Land Area | 511,770 sq km | ||||||||||||||||||||||||||||||||||||||||||
| Currency & exchange rate | 1 baht (B$) = 100 satang (~ 0.0134312 GBP) | ||||||||||||||||||||||||||||||||||||||||||
| GDP-PPPMethod | 387,548.0 millions of US dollars | ||||||||||||||||||||||||||||||||||||||||||
| GDP Growth | 0.870% | ||||||||||||||||||||||||||||||||||||||||||
| GDP Per Head | 6,271.0 Thousands of US Dollars Per Person | ||||||||||||||||||||||||||||||||||||||||||
| Financial | Interest Rate | Inflation Rate | |||||||||||||||||||||||||||||||||||||||||
| 2.2% | 2% | ||||||||||||||||||||||||||||||||||||||||||
| National Bank | Bank of Thailand | ||||||||||||||||||||||||||||||||||||||||||
| Political | Since the last military coup in May 1992, Thailand has enjoyed almost a decade of rule by democratically elected governments and a far-reaching process of political reform. The year 1997 saw two watershed events: the economic crisis in July, and the adoption of a new Constitution in October. The progressively worded Constitution aimed at improving the selection of political office holders, reducing the scope for corruption and promoting human rights. Implementation of the new provisions has not always lived up to expectations, partly due to the time involved in revising legislation, but the overall impact on Thailand's political landscape has been significant. | ||||||||||||||||||||||||||||||||||||||||||
| Social Security | Yes | ||||||||||||||||||||||||||||||||||||||||||
| Languages | Thai, English | ||||||||||||||||||||||||||||||||||||||||||
| Customaries | Present day Thai society is the result of years of cultural mixing in particular with China and India, yet is being convincingly influenced by the west. Upon meeting a westerner, a handshake is the most formal introduction. A Thai will be greeted with the traditional closed hands and a slight bow of the head, the wai. Shoes should be removed when entering a household or temple. Informal attire is widely acceptable and men seldom wear suits. Beachwear should be confined to the beach and topless sunbathing is frowned upon. Smoking is widely acceptable. It is a good idea not to make public displays of anger. Thais regard such behaviour as undisciplined and ill mannered. | ||||||||||||||||||||||||||||||||||||||||||
| Ethnic Make-up |
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| Tax | Income Tax | Capital Gains Tax | |||||||||||||||||||||||||||||||||||||||||
| Gains derived from sales of real property are subject to Person Income Tax. A standard allowance is deductible, depending on the number of years of ownership. This tax is also applied to gains derived from sales of real property used in trade or business. | ||||||||||||||||||||||||||||||||||||||||||
| Description | Thailands economy was the fastest growing in the world in the 1990[s before the Asian financial crisis of 1997. Since then, the economy has made good recovery but has been dampened by the slow pace of economic and structural reform. A significant factor in this slow recovery is the large volume of non-performing loans (NPLs) that have still not been cleared out of the banking system. However, Prime Minister Thaksin anticipates growth of 8% for 2004 and 10% for 2005, fuelled by continuing export growth with increased private and infrastructure investment. He has also carried out his pledge he promised during elections - debt rescheduling, village funds and increased lending to smaller and medium sized enterprises. The increased confidence in the Thai economy coupled with the weakening of the US dollar, has seen the Baht appreciate almost 10% over 2003. The major industries are services and tourism, manufacturing, vehicles and electronics and agriculture. The major trading partners are the US, Japan, Singapore, Malaysia, China, Hong Kong, Taiwan and the UK. | ||||||||||||||||||||||||||||||||||||||||||
| L O C A L
D A T A
| Investor Profile: | Cash & Equity Investor Pension Investor Holiday Investor Retirement Investor Downshifter Investor Business Investor | |||||||||||||||||||||||||||||||||||||||||
| Category: | Bronze | ||||||||||||||||||||||||||||||||||||||||||
| Population:
| Total | British | |||||||||||||||||||||||||||||||||||||||||
| 200,000 | 1,000 | ||||||||||||||||||||||||||||||||||||||||||
| Climate: | Hours of Sunshine Per Day in Summer | Days of Rain Per Year | January | July | Average Water Temp. | ||||||||||||||||||||||||||||||||||||||
| Nine | The September-October period is also the wettest. | 24C | 33.4C | 27C | |||||||||||||||||||||||||||||||||||||||
| Proximity to: | Airport | Beach | Nearest City | ||||||||||||||||||||||||||||||||||||||||
| Phuket International Airport (HKT) is 35km (22 miles) northwest of Phuket. | Patong Beach is the main tourist area. Patong also has a beautiful long beach totalling a distance of several kilometres; Bangtao is a large open bay with one of Phuket's longest beaches. Surin Beach is a quiet and very relaxing beach and there are numerous other beaches and islands to explore | Many islands surround Phuket and are accessible by boat and road via bridges | |||||||||||||||||||||||||||||||||||||||||
| Restaurants and bars: | Most bars and pubs are located along or near Bangla Road and Soi Sunset. Phuket Fantasea" The ultimate cultural theme park was constructed at Kamala Beach, about 9 km. north of Patong on the island's rim road. Fantasea represent a new dimension in nighttime entertainment, using ultra-high technology to create fantastic illusions and special effects for shows. Also on offer, vivid transvestite shows featuring dozens of apparelled boys dancing and lip-synching to popular songs. Costumes, choreography and pacing are very impressive. There is a wide range of restaurants available especially within Phuket and neighbouring islands with Thai food being internationally famous. Whether chilli-hot or comparatively bland, harmony is the guiding principle behind each dish. | ||||||||||||||||||||||||||||||||||||||||||
| Sports and leisure facilities: | Scuba diving, snorkelling, swimming, wind surfing, sailing, deep-sea fishing, mountain biking, golf, Thai boxing, extreme sports. | ||||||||||||||||||||||||||||||||||||||||||
| Transport: | Public Transport | Roads | |||||||||||||||||||||||||||||||||||||||||
| There is a daytime bus service to most parts of the island. All buses run on a set loop between beach locations. Any attempts by the authorities to improve the bus service and or extend the hours of operation is opposed by the tuk-tuk (taxi) drivers who insist the competition will cut into their business. tuk-tuks, the notorious three-wheeled smoke-belching variety, are now extinct on Phuket. They have been replaced with small red vans with open sides. The ubiquitous longtail boat is found wherever there is water in southern Thailand and is also available for hire in Phuket. | The natural beauty of the island, and the winding mountain roads, all make Phuket a natural for cruising around with motorbikes being the most common mode of transportation on the island.
Cars and jeeps can be rented at numerous locations around the island. | ||||||||||||||||||||||||||||||||||||||||||
| Crime rate: | There are reports of some unlicensed taxis and minibuses overcharging tourists for airport transfers. Airport limousines or licensed taxis with yellow number plates can be hired from the official taxi rank at Bangkok airport or other international and domestic airports. Be wary of accepting food or drink from strangers - it may be drugged. As with any major tourist destination, be wary of the usual characters and remember to not get involved in local ambiguous dealings as the authorities impose heavy penalties. | ||||||||||||||||||||||||||||||||||||||||||
| Main types of employment | Service industries – food, taxi, entertainment. A huge tourist area with the usual services. | ||||||||||||||||||||||||||||||||||||||||||
| Future plans: | To expand on the tourist services and improve connections to other beaches and towns. | ||||||||||||||||||||||||||||||||||||||||||
| Yield range | 4 – 8% | ||||||||||||||||||||||||||||||||||||||||||
| Type of property | Entry Price | Rent- Peak | Rent- Off Peak | Average Annual Yield | |||||||||||||||||||||||||||||||||||||||
| 2 bed apartment | £22,000 | £150 | £120 | 7.36% | |||||||||||||||||||||||||||||||||||||||
| 3 bed apartment | £35,000 | £180 | £140 | 5.48% | |||||||||||||||||||||||||||||||||||||||
| 3 bed townhouse | £40,000 | £180 | £140 | 4.8% | |||||||||||||||||||||||||||||||||||||||
| Detached | £48,000 | £220 | £160 | 4.75% | |||||||||||||||||||||||||||||||||||||||
| Demand for letting | Peak | Off peak | |||||||||||||||||||||||||||||||||||||||||
| Very high | High | ||||||||||||||||||||||||||||||||||||||||||
| Finance and leisure scores: | Total (out of 10) | Financial (out of 5) | Leisure (out of 5) | ||||||||||||||||||||||||||||||||||||||||
| 6 | 3 | 3 | |||||||||||||||||||||||||||||||||||||||||
| Flights scheduled from: | Phuket’s International Airport receives direct flights from countries all over the world as well as connecting domestic and international flights from Bangkok. Main point of departure in England is London, though connecting services offered from some other major cities. | ||||||||||||||||||||||||||||||||||||||||||
| Typical cost of flights: | Peak | Off Peak | |||||||||||||||||||||||||||||||||||||||||
| 700 – 1300 GBP | 450 – 1200 GBP | ||||||||||||||||||||||||||||||||||||||||||
| Operators: | Thai Airways, Malaysian airlines, British Airways, Air France | ||||||||||||||||||||||||||||||||||||||||||
| Description: | Phuket is located on the west coast, in the southern part of Thailand. This largest island of Thailand, which is surrounded by other 32 islands, has total area 570 square kilometres. Phuket has it greatest breadth of 21.3 kilometres it greatest length of 48.7 kilometres. Phuket is broken by mountains and valleys throughout mainly from a north - south range running down the west coast. This accounts for about 70 percent of the land area. The cost of living on this island is very low so a cheap holiday is always to be had. Unfortunately this results in poor yields unless you can sign your property up with a UK agent who can secure you a constant supply of English tenants through the peak season. I was unable to find such an agent but they are out there. If you are seriously thinking of investing in here then source a reliable agent prior to purchase. Capital gains will be high as Thailand always has that intrigue which will never go away. | ||||||||||||||||||||||||||||||||||||||||||
| Hot Website: | www.phuketinfo.com | ||||||||||||||||||||||||||||||||||||||||||
| Estate Agents: | Name | Address | Tel | Web | |||||||||||||||||||||||||||||||||||||||
| Phuket LandSearch Ltd | Patong, A. Kathu, Phuket 83150 | +66 76 340348, 340207 | phuketland.com/villa_santi info@phuketland.com | ||||||||||||||||||||||||||||||||||||||||
| Blaauw & Nassau Ltd. | +66 76 263 737/8 | info@blaauw-nassau.com | |||||||||||||||||||||||||||||||||||||||||
| International Phuket real estate | 53 Rat-U-Thit Rd, Patong Beach, Kathu, Phuket 83150, Thailand | + 66-76-344530-1 | www.phuket-realestate.com/ info@phuket-realestate-law.com | ||||||||||||||||||||||||||||||||||||||||
| Brithai Real Estate | 9/5 Prachanukroa Road, Patong, Kathu, Phuket, Thailand 83150 | +66-76 076-341608-9 | www.phuket-estate.com | ||||||||||||||||||||||||||||||||||||||||
| Letting Agents: | Name | Address | Tel | Web | |||||||||||||||||||||||||||||||||||||||
| Blaauw & Nassau Ltd. | +66 76 263 737/8 | info@blaauw-nassau.com | |||||||||||||||||||||||||||||||||||||||||
| International Phuket real estate | 53 Rat-U-Thit Rd, Patong Beach, Kathu, Phuket 83150, Thailand | + 66-76-344530-1 | www.phuket-realestate.com/ info@phuket-realestate-law.com | ||||||||||||||||||||||||||||||||||||||||