With the amount of development taking place in Phuket, and as a general rule less space is being sold for more money, it’s no wonder that the renovation “do-er-upper” market is attracting savvy investors. For example let’s take two projects in Patong; The Unity is a very smart condominium development with a two bedroom unit with an area size of 120 sq.m costing just over 10 millllion baht. Look just above this project in the hills and you will see the Andaman Hills development, which was one of Phuket’s first development built to attract the foreign buyer.
It’s well established and enjoys one of the best views in Phuket with a panoramic view overlooking Patong bay. Many units have been updated and are now selling for over 20 million Baht. That said you can still secure one that has yet to be renovated for approximately 9 million Baht. By adding a simple access to the roof via an external stairwell you would have a 3 bedroom, 4 level property with a covered area of around 240 sq.m plus 100 sq.m’s worth of balcony’s and large roof terrace overlooking the whole of Patong bay.
Renovation costs would start from as little as 1.5 million baht for a project like this, depending on the the new owners vision and wants. I would be happy to provide more details on this great resale property, and can also put you in touch with a building company to help with the renovations if needed.