Among all the Southeast Asian nations, Thailand has the highest annual number of tourists going there. This translates to a high tourist turnover in the country’s second biggest island after Phuket, the underrated paradise known as Koh Samui.
Koh Samui, also known as Coconut Island, has multiple gorgeous beaches available (both well-developed and secluded) that appeal to both tourists and retirees alike.
From the crescent of Lamai Beach to the family-friendly waters of Bangrak, investors have their choice when it comes to beachfront villa locations.
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Should you fulfill the desire to live like a Koh Samui local and make it into reality? There are several things you should realize before taking those crucial steps to living life like a Samui local!
Tourism vs. Residence: The Samui Island tourist experience isn’t necessarily the same as the resident experience. Guests are treated specially because they’re just passing through while a homeowner seeks normalcy, peace, and quiet.
With that said, as long as they have realistic expectations on what Koh Samui brings to the table, the appeal of living like a local in Hawaii-like settings is clear.
A Booming Property Market: The good news is that Thailand has a booming property market that serves as the gateway for tourists to become residents of Samui Island so that they can live life in paradise like Samui locals.
You’ll have a wealth of villas, vacation homes, condominiums, garden-view or beach-view properties, and would-be residences to choose from built with the latest in Thai architectural design.
Take Off Your Rose-Tinted Glasses: Curb your enthusiasm and have a more practical or realistic take on living life like a local in Koh Samui. They have it easy in some ways while they lack the things city dwellers take for granted.
A person on vacation there has a budget available to splurge. Ideal would-be residents on the island should get used to the quiet life at a slower pace.
Realistic Expectations of the Place and Market: You should be aware of what island-living entails that many tourists don’t realize, like how to make a living there and how to maximize your money even with Koh Samui’s lower cost of living.
Put on your investor spectacles to realize the benefits of buying Koh Samui property and island living so you can figure out from the start if it’s right for you.
Beachfront or Mountain Views? If you have money to spare, you can partner with us at Conrad Properties and buy multiple wonderful beach-front, beach-side, and/or sea-view villas right near the shore.
You also have the option to rent out condominiums or own bungalows or duplexes set against garden views, mountainside panoramas, or tropical environments in places like Bangrak Hills.
The tourist economy of Coconut Island is thriving for good reason. It’s a tourist’s paradise filled with shopping locations, restaurants, and luxury resorts aplenty.
The island also has its fair share of businesses in retail, farming, fishing, and so forth. What expatriates and people who wish to become locals of the island really love about it are its gorgeous beaches, tropical climate, and engaging nightlife.
They could have also fallen in love with the numerous outdoor activities available for island residents like trekking, kayaking, and snorkeling.
Koh Samui, like the rest of Thailand, has high-level healthcare that doesn’t get bogged down by red tape and bureaucracy, even for foreigners and non-citizens.
The island is host to a number of first-rate clinics and hospitals as well. Just be forewarned that foreigners need a bit of guidance to own land in Koh Samui or anywhere else in Thailand.
It’s because the country forbids foreigners to directly buy land and have their name on the deed. You need to lease land or start a Thai limited company to buy land on your behalf too.
Thus, there’s a culture of rental and leasing in Koh Samui, particularly with their condos you can buy (the building hosts the unit, so you don’t need to buy the land it’s standing on) or rent.
When buying a condo unit, you can rent it out to make money from it, giving you instant return on investment. However, to live like a local, you will buy the condo to live there.
In order to live like a local in Koh Samui, one of the ways to jumpstart your residency and have your visa approved easier is investing in a place to live there from the beginning.
Location: People love the idea of living in the middle of a secluded paradise. Koh Samui fulfills such dreams because it is centrally located in one of the fastest growing regions and countries in the world. Asia is also home to half of humanity!
The ASEAN (Association of Southeast Asian Nations) is home to 650 million people that includes a quickly growing middle class populace who are both well-educated and increasingly mobile.
Become part of this economically promising region and feel free to visit Thailand’s other neighbors because Koh Samui has daily international flights to major destinations such as Kuala Lumpur, Singapore, Hong Kong, and Bangkok (they’re all an hour to three hours away).
Weather: Locals of Koh Samui and citizens of Thailand tend to take for granted the tropical climate of Thailand and Koh Samui. It’s actually the tourists who live in four-season climates and suffer from heat or cold extremes that appreciate the weather more.
There is a relatively short rainy season on Samui Island that only lasts from 6 to 8 weeks from November to December, making it a perfect year-round getaway. No need to deal with cold or shoveling the snow-filled sidewalk.
Besides which, Koh Samui’s location in the Gulf of Thailand has spared the island from the tropical zone extremes common in the region, like floods, storms, and cyclones.
Lofty Goals: Samui development has a focus on high-end and middle-high-end tourism, hence the sheer number of villas available. Indeed, the vast majority of villas in Koh Samui belong from the middle to the top end of the property market.
Besides which, top hotel brands have even invested in many of these major Samui developments as a sign of their trust in the booming market. These hotels include U Hotels, Melia, Sofitel, and the Hyatt, among others.
They should join a top-ranked portfolio including the Sheraton, W Retreat, Vana Belle, Banyan Tree, Six Senses, Intercontinental, Four Seasons, and Conrad.
Size: Thailand’s second largest island gives it the distinction of more growth potential compared to Phuket, which is instead the country’s largest. Phuket’s size gave it an early growth spurt, while Koh Samui still has room for development.
Coconut Island has a quarter of Singapore’s land mass. It’s just the right size, in fact—it’s not too small to get limited to island hopping expeditions but it cannot be developed further, but it’s not too big to allow for high-density development that could lead to overdevelopment.
City Status: Only in 2012 did Samui achieve city municipality status. Yes, it’s more than a decade ago, but it’s relatively recent in light of Koh Samui’s short history as a tourist destination. It was mostly a coconut farm for ages.
In any case, it has become more independent and has more administrative control. It also has more focus on civic administration with Koh Samui’s specific needs in mind.
As the island develops further with more property developments, its infrastructure should also improve down the line. The latest projects include communication cables and underground power reticulation in places like Chaweng.
Furthermore, the main ring road of the island is constantly being upgraded along with the island’s storm water and drainage management. Samui has offices for all the major Thai government departments for good measure.
Youthful Vigor: The locals aren’t an aging population like in Japan and the island itself has only recently developed as a tourist and residential location in 40 years (it was once a coconut farming and fishing island).
In its relatively short existence, it developed better zoning laws and quickly established a property market. It’s yet to reach its full development potential, which means ample opportunities for asset growth if you were to buy a development ASAP.
Communications and the Internet: The island is linked to the rest of the world with affordable 5G mobile tech that’s being rolled out along with high-speed optic fiber for the island’s Internet. There’s also island-wide Wi-Fi Internet connections available for good measure.
Whether you’re a tourist or a local, you won’t have to miss out on your favorite streaming show on Netflix, Hulu, Amazon Prime, HBO Max, Paramount, Lionsgate, or Disney Plus. It’s also easier to run your online business or do online shopping.
The Necessities of Life: Samui has all the essentials of life so it’s not like you’re stranded on a deserted island when you live there or anything. The lower cost of living doesn’t mean you’ll necessarily sacrifice a first-world country lifestyle.
Koh Samui includes many of the things Westerners enjoy, such as high-grade medical care provided by four private hospitals and one government hospital, multiple retail options, shopping malls, a department store, topnotch banking, supermarket, cinemas, and international schools.
Before anything else, rest assured that Thailand is a stable country metrics-wise. To be more specific, Thailand’s Fragile State Index is at an encouraging 70.
This stability should ensure you of a smooth experience towards transitioning into a resident of Koh Samui or even a citizen of Thailand. It’s quite a viable goal, and the best means to achieve it is by investing in Koh Samui property.
As the economy grows, people make more money, which encourages real estate investment that drives up the value and demand of such properties.
The big picture here is that Thailand has an in-demand property market that’s particularly robust in terms of rentals and leases among its foreign investors.
Even now, the Thai economy is expected to soar with a GDP growth rate of 3 percent and beyond while being crowned the most tourist-visited nation among its ASEAN brethren.
Why shouldn’t you become a Thai local yourself? What’s not to like?
The island of Koh Samui is separated into many regions or towns. Each of these locations have their respective pros and cons. What sort of local life do you wish to have in Samui Island? Here are some important points to consider:
Chaweng: Go invest in Chaweng property if you favor a lively and bustling neighborhood with its own exclusive beach and a wide range of shops, bars, and restaurants—especially if you don’t mind the tourist traffic.
On the one hand, it has an active nightlife, a vibrant ambiance, and many dining options. On the other hand, it can get quite loud and crowded there, especially during the holiday seasons when tourists really converge in the area.
Lamai: To become a local in Lamai is to value a slow-paced life. Everyone there is so laid-back and chillout. It’s the epitome of a relaxed town with a stunning beach. It comes complete with entertainment choices and dining variety.
On one hand, Lamai Beach is more secluded than Chaweng while maintaining its resort-level beauty, making it suitable for intimate family gatherings. On the other hand, Chaweng’s beach is more vibrant and there’s limited options for transportation in that secluded area.
Bophut: Buying a villa in Bophut makes sense (and can make dollars and cents to boot as a growing asset) because it was originally a charming fishing village that evolved into a location with a popular walking street market filled with boutiques.
On the one hand, the lovely beachside town is picturesque and full of culture, which includes the original Fisherman’s Village. On the other hand, it has a quieter nightlife, and certain areas have higher prices for goods and services.
Maenam: There’s a lot to love about Maenam. Koh Samui has many secluded beaches, but this one epitomizes seclusion and exclusivity in an almost provincial sense, with it also having a gorgeous beach and excellent fine dining offerings.
On one hand, if you want your stay in Koh Samui to have fewer crowds and quieter, you won’t go wrong with Maenam’s intrinsic serenity. On the other hand, the relaxed ambiance comes with fewer entertainment activities and barely any nightlife.
Choeng Mon: If you wish your crowd control and Maenam-level seclusion to still come with Chaweng-level entertainment activities galore like watersports or cinema, Choeng Mon is a good upgrade.
On one hand, Choeng Mon is an exclusive, private, and upscale beach and location with high-end resorts for couples and luxury travelers. On the other hand, it’s more expensive there, so if you have a budget, its costs may be too much for you.
Bangrak: Bangrak serves as a good second option to Maenam’s provincial serenity without necessarily breaking the bank there. Bangrak Hills, in particular, is filled with condominium units for those who wish to rent or not buy land.
On the one hand, Bangrak offers another secluded place for an escapade, with it bordering on being a tourist sanctuary for long romantic walks at the beach. On the other hand, adrenalin junkies seeking thrills might wish to go elsewhere in Koh Samui.
Buying is better than renting if you can afford it because you’ll pay more for rental in the long run due to buying shorter term contracts versus the cheaper mortgage payments for longer-term payment plans.
Even better, if you can buy the whole villa in cash from the get-go, there are fewer penalties, fees, and costs to face versus rental.
On the other hand, if rental is your only option, it certainly simplifies the otherwise complicated property ownership process for foreigners in Thailand and Koh Samui.
Foreigners are forbidden to own land in Thailand, which includes Koh Samui. The legal loopholes for this are 30-year leaseholds of land that can be extended twice for up to 90 years (a lifetime) wherein the built property is yours.
You can also start a majority local shareholder Thai Limited Company to have it buy land on your behalf. Investors choose between the two to buy their beachfront villas.
You can also live like a local as a foreigner without necessarily having land in your name by buying a condominium unit. Condo life involves sharing utilities like the swimming pool or the rec room among the other condo owners.
Apartment life, on the other hand, has you sharing no common-use utilities and having your ownership limited to the space you’ve bought or you’re renting.
Thailand law allows foreigners to buy 49 percent of the units of a given condo or apartment. The rest of the 51 percent is for the rest of the locals.
Going on a euphoric holiday on Koh Samui is bound to make more than just a few tourists wish they’d live in the island paradise, enjoying a dream lifestyle. You can live like a local in Koh Samui by investing in a retirement property there, particularly a beachfront one if you have a fortune saved for such an investment.
You can live like a king by investing in beachfront villas or commercial properties, if possible. As for less complicated property ownership, you can always rent or own your own condominium units along the rolling hills or mountain sides at the heart of Coconut Island.
Start your quest for the real estate property you deserve. Check out the Conrad Properties website so you can compare and contrast the wide variety of Koh Samui properties available in the beautiful country of Thailand!
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