Buying an investment property, targeting the tourist rental market is the most common purchase request that I have. Knowing that your property will be consistently occupied and who will be renting it is important in your purchase decision. I’ve been coming to Phuket for 18 years. The changes in the Island and the different demographic of people visiting is notable.
Who is coming to Phuket?
In 2016 Thailand welcomed 32.6 million international visitors with 7,549,346 visitors passing through Phuket’s new International airport. This makes from Phuket one of the best beach destination in the world, after Bali and Honolulu. That is without counting the incoming land or sea based travellers. The days of beer drinking Aussies, Europeans and Americans are far from over. However, there’s a new type of tourist that we don’t normally see unless we’re shopping or on a day trip and they are starting to need rental properties now more than ever!
Changes in Phuket
The Chinese, Indian, Arab and other Asian countries are visiting Phuket in the masses but typically are not the bar going type. Many say these sources of tourism are going to be the key to Phuket’s bright future.
I remember 20+ years ago going to a travel agency to book a package holiday was the normal way to travel. Anyone who went off script organising a trip themselves was a brave soul. Now days with the internet I couldn’t imagine booking a package holiday from a travel agency anymore. I’ll search the internet for the best deals and check the reviews. My point is that one of the largest tourist markets in the world is beginning to go through this same transition of booking a holiday abroad, and that’s China.
China number 1 in Phuket
There are tour buses packed full of Chinese package tourists with a set destination. The holiday itinerary are still prominent in Phuket however, it’s nice to see they are starting to break away. Booking flights and accommodation for themselves now is making them great candidates for the Condominium Rental Market. With Phuket’s popularity in China and other emerging market countries still on the rise, it makes Phuket a prime choice if you’re thinking to purchase an investment property in Phuket.