Koh Samui Apartments
The property market on Koh Samui has diversified as investment options have evolved over recent years. As a result, a large number of modern condominium units and purpose-built apartments have come onto the market recently. These properties are becoming increasingly popular with foreign investors due to the relative simplicity of purchase, as well as the fact that foreigners can buy them outright as long as the building is officially owned by a majority of Thai owners.
Greater security and ease of the buying process has also increased interest in the condominium market, particularly due to recent amendments to foreign ownership rights. The average price for a 1-2 bedroom condo can start as low as 2.5 million baht and studio apartments can even be bought for as little as 2 million. What is more, some developments have finance options, although it is generally wise to ask an independent lawyer to carefully check the terms.
The more developed resort areas around Chaweng, Lamai and Bophut are the most popular areas for condo developments as they are close to all amenities. However, some apartment complexes are now being built in more remote areas of the island, both inland and on the coast. Managed apartments usually include access to communal facilities and offer rental programmes, which can be organized when the owner is absent, offering opportunities for income generation.
Convenient locations and excellent facilities mean that apartments are a good choice for singles, couples or small groups. Apartment prices compare extremely favorably with house or villa purchases. Rental rates vary, but long-stay tenants can find an apartment for as low as 15 - 20 000 baht a month.
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