Many tourists do not always want to buy property in Phuket however there are other options such fractional ownership. Though this method is not very popular, it has taken root on the island.
The Alternative Ownership Conference – Asia Pacific conference in Phuket this month has been interesting as it shows a growing interest in Phuket.
With property prices always on the rise in Phuket many are looking for alternatives. Fractional ownership might not be for everyone and there are many fly-by-night operators in the industry. Always speak to a local attorney in Phuket for the best options when looking at renting or buying property in Phuket.
The conference was a presentation on the legal framework of fractional ownership in resorts and real-estate developments which was headed by Desmond Hughes of Limcharoen Hughes & Glanville, followed by a talk on tax implications for resorts and real-estate developments by Paul Ashburn of BDO Richfield Advisory Limited. Before you buy into any fractional ownership or let’s call it – timeshare. Always be sure you understand the legal implications of signing a document. Always ensure you fully understand your rights and limitations with regards to the contracts. Speaking to an independent attorney in Phuket is always best so as to receive unbiased legal advice with how this might or might not benefit you or your family. Investments are a tricky business especially with regards to property.
Speak to any of our attorneys in Phuket or to any of our consultants online, via our US and UK toll-free numbers or walk into our Phuket office for legal advice. See our main website for more details.