There is a upsurge in investors choosing to invest in Phuket property that needs renovating an excellent example of this are two units new on the market in Kata. Both have the sought after Foreign Freehold condominium title, one condo has already been renovated and gaining good rental income whereas the other next door is in need of attention. The renovated condo is on sale at 5.5 Million THB and the other unit is for sale at 3.8 million so there is a difference of 1.7 Million THB.
Renovation cost would be between 600- 800,000 THB and with its location only 200 meters to the World famous Kata Beach. Renting the apartment should not be a problem and I would expect the new owner to receive an approximate return on their investment of around 10%.