Asa Marsh Managing Director Interview
What makes you stand out?
Having worked as the marketing director for the – at that time – largest property company in Phuket, I decided to start my own company Easy Living Phuket. After turning over millions of Bht in business every month, I do it know for my own business instead of them. I make a bespoke service focusing on each purchaser as an individual and making the buying process a more personal service. I love my clients and they love me! Now I know I made the best choice ever.
Why would I choose Phuket?
It’s a no brainer! The property market is clearly very stable. Unlike most parts of Thailand, Phuket experiences a twelve month year round attraction for tourism. This all despite the negatives that have hit Phuket. This island has always bounced back with higher flight arrivals and accommodation occupancy each year. What this means for a property investor is a steady flow of clientele to rent out their properties.
Legally, can I buy in Phuket?
Yes – you have Freehold and Leasehold.
Can I yield revenue from my property?
Yes – a lot of the developments we sell even come with a guaranteed 7 percent net return of the purchase price. The developments will manage your property with a full service of advertising, bookings, check-ins, check-outs and cleaning etc. This guaranteed return is normally for the first 3 to 5 years. During this period you just wait for your money to hit your bank with no worries at all. This is great for a first time buyer.
However please understand that the developers don’t give you 7 percent because they are lovely people, they guarantee you 7 percent because it’s an easily attained target. Under the guaranteed rental programme, you normally have 30 days to stay in your property throughout the year. If you want more time to use your property, like three to six months then go with a rental-pool or private management company.
Do you have a property management partner?
We partner with one of the best property management companies on Phuket, who will provide you with monthly statistics and market globally. Last year they comfortably managed a 78 percent average occupancy with all the properties under their management.
Do I need a Thai bank account?
You can open a bank account very simply with a passport and a contract of your property.
How do I pay for my property?
You transfer money from your personal account outside of Thailand directly to the developer keeping all of the proof that it’s money from overseas. You will need this proof to register your property at the local land registry department. This way, you will have no problem taking money out of Thailand if you decide to resell your property later on.
Do I need to have a Thai partner?
No – Legally you can buy a property all on your own.
Are values of property going up?
Yes & no, it really depends on where you buy. But normally it’s a steady three to six percent per year depending on where you buy and what’s going on around it. People tend to forget that Phuket is an island with limited land space which has restrictions on where it can build. Although you see a lot of construction now, in ten years time there’s going to be a very strong resale market for properties in prime locations. Have a look at our Phuket Properties for sale.
What’s the infrastructure like on Phuket?
- A lot better than most locations in Thailand as Phuket sees a lot more in tourists than most places in South East Asia.
- Roads have been improved so much since I’ve been here seven years ago. As a biker, I notice every single pothole and they’re hard to find these days.
- Hospitals speak for themselves as medical tourism is huge here on the island. Dental clinics are less than half price than the rest of the world.
- I’m really happy with the International Airport with its new terminal as I’m in and out of Thailand all the time. Phuket is a perfect central spot for those who wish to conduct business in South East Asia.
- As a father of three kids, I am happy to say there are a great selection of private schools offering inexpensive international curriculums.
- Utilities such as Electricity and Water are nominal. My wife is at home most days with the little ones and we pay an average of 2,000 Bht a month!
- Parts of Phuket still continue to experience flash floods when there’s heavy rain. This has been dramatically improved by drainage management with new builds seldom inconvenienced from natural elements.
What are the usual maintenance fees/strata costs?
It depends where you are buying. If you buy a normal good quality condo it averages out at 50 Bht per square meter for common area fees. These are fees for gardening, swimming pool maintenance and security. A high end condo may go up to 80 Bht per square meter and you can pay these fees annually. When buying a new build there’s a sinking fund that averages 600 Bht per square meter. This is a one time only payment.