Property Watch: Not everything can be ‘unique’
PHUKET: No other word suffers as much abuse in the Phuket property market as the word ‘unique’, to the extent that the misuse itself is almost unique.
The word is important for property investors, because the ‘Unique Selling Point’ is a factor that ought to be addressed at an early stage of investment. However, items that are not unique could sell well if they were commodities. But property in Phuket, while in greater demand from prospective residents, is still a long way from being a commodity. Investment into the property market is often a test by a new investor, a belief in Phuket’s future or a punt on capital appreciation, while other markets appear to hit a flattish ceiling combined with unattractive ‘cooling measure’ taxes.
When I see the words ‘unique location’ in property ads and brochures, I always wonder what that means, and whether investors are paying attention or care about correct usage of the word.
For instance, it is unique not to have to sit in a series of traffic jams for half an hour or more on your way to a destination? It is also unique to have an uninterrupted sea view, as most properties in Phuket don’t have one due to the inevitable geographical and building permit limitations.
Looking at comparable resort based property markets in Europe, the US, South America, Australia and the Caribbean, it is now easy to see that many offerings are not unique. ‘Near a golf course’ isn’t unique considering the number of courses dotted around all of these destinations. In a developed area, being near ‘the school’ isn’t unique if there are plenty of schools to choose from. Being part of an ‘exclusive gated community’ isn’t unique anymore; there are hundreds of those.
These days, Phuket is no longer ‘unique’ in terms of any single offering. What makes it unique now is the combinations it has to offer and the environment in which it is offering those. You can have a locally flavored Southern Thai meal overlooking Phuket from the hills in Phuket Town, and the next day you can have a great steak with the meat sourced from meat lovers’ paradise. You can live near a golf course and a marina, and keep your golf clubs on your boat.
Phuket’s uniqueness, in my opinion still exists, and still helps prop up a sometimes unimaginative majority property market. I concede that this is certainly not true of all developers and professionals. To maintain this unique selling point, a collective effort of all those involved in it to preserve its uniqueness will be required. We should celebrate when investors create new attractions, build new malls, expand golf courses and build new roadways, making the combination of uniqueness more convenient.
I see that successful businesses in Phuket and Thailand have tapped into the gaps really well. I can now order my cheese from cheesemakers in Hua Hin or Pattaya, have it packed in dry ice and delivered to my door. The people who made this happen are innovators.
Innovation is an economic marker of advanced development and I really hope it continues in Phuket. I hope we all do that, and without sounding too ‘socialist’, we can do that as a team. Team Phuket, Unique Phuket.
Desmond Hughes has been an owner and operator of his law firm in Thailand for 14 years, and is a Senior Partner at Hughes Krupica law firm www.hugheskrupica.com.
— Desmond Hughes
Thailand Property FAQ
Can foreigners buy property in Thailand?
Yes. Foreigners can own condominium units freehold, as long as foreign buyers hold no more than 49% of the building's saleable area. Land cannot be owned directly by foreigners; houses are usually held through a 30-year lease — and since a March 2025 Supreme Court ruling, automatic “30+30+30” renewal structures are not enforceable beyond the first 30 years. Read the full foreign-ownership guide.
What is Thailand's 49% foreign quota?
In any condominium project, no more than 49% of the total saleable floor area can be foreign-owned. The quota applies only to condos — not houses, land or leaseholds — and popular buildings in Bangkok, Phuket and Pattaya can hit the cap. How the quota works in practice.
How much are property transfer fees in 2026?
The transfer registration fee is cut to 0.01% (from the standard 2%) and the mortgage registration fee to 0.01% (from 1%) for purchases where both the price and assessed value are 7 million baht or less — extended by the Cabinet on June 30, 2026. On a 6-million-baht home that saves around 120,000 baht. Who qualifies for the cut · Standard fees & who pays what.
Is it better to rent or buy in Thailand as an expat?
It mostly depends on your time horizon: for stays under roughly five years renting usually wins once transfer costs and resale friction are counted, while longer stays can favour buying — especially with 2026's reduced fees. The rent-vs-buy maths for expats.
How much does property cost in Thailand?
A little over 2 million baht buys a freehold one-bedroom condo in central Chiang Mai — the same budget covers only a studio in Bangkok's CBD. Prices vary sharply by region and city. Average prices by region, and what they buy you.
What taxes do property owners pay in Thailand?
Owners pay the annual land and building tax, and rental income is taxable; buyers and sellers split one-off costs like transfer fees, stamp duty or specific business tax depending on the deal. The go-to guide to Thai property taxes.
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