Buying Property in Phuket

There are many tourists who travel to Phuket for their holidays and fall in love with the island and consider buying a property here without looking into the trouble that they can get themselves into. The laws here are confusing and certainly don't favor a foreigner.

First of all, you are not allowed to own land in Thailand if you are a foreigner, so there is always going to be complications when it comes buying a place. You can own up to 49% of shares in a company which owns freehold land. You can own a unit which is registered in a condominium, but this can be quite dodgy, as there have been foreigners who have lost their units, condos, or apartments, due to being scammed or not reading the fine print properly.
If you are married to a Thai, you still cannot own land, but the Thai person you are married to - can, even if you paid for it all yourself. So remember that if things go pair shaped with your marriage, you might lose everything.
Speaking to a lawyer is highly recommended before thinking of purchasing land in Phuket and finding one who is trustworthy is a must, as there are some dodgy lawyers around.
Another thing to steer clear of is time share properties, don't have anything to do with them, they are a complete scam and they should be avoided at all times.

If you still want to go ahead and try and purchase a unit or an apartment in Phuket or somewhere else in Thailand, do so at your own risk, but read below first:

First is the story of an Irishman who lost all of his properties in Phuket. It's a heart breaking story and the battle to get his properties back continues with death threats and intimidation.

Some other links with useful information to take a look at:

Phuket Resort Scam

Purnvarna Project Site

Time Share Scam

Property Fraud Info

There are of course, many people who have purchased their condos or apartments who have had no problems yet. The important word is "yet" because who knows what scams someone will try and pull on some of them in the future.

One of the most important things to remember about wanting to live in Phuket or anywhere in Thailand is, "don't go around showing off your wealth everywhere", as there may be some locals who get jealous and want a slice of your assets.