Ownership

Residents living in the Phuket Retirement Village own their homes through an Ownership Lease available for 30 years.

This is a Lifetime Enjoyment Lease at the end of which our residents or family members receive a Full Refund of your initial investment.

The Lifetime Enjoyment Lease enables our residents to fully enjoy their homes, having all the rights and liberties they would at home, while maintaining the community spirit and lifestyle.

The lease expires after 30 years or upon Termination of Contract.

Upon expiry of the 30-year lease, an extension can be granted for an agreed number of years, under a property rental agreement, with rent payments made on a monthly or yearly basis by the residents wishing to continue their stay in our village. 

Our residents receive a Full Payment Refund at the end of the 30-year lease, regardless of their decision to continue their stay with us.

Who can be a resident?

Residents applying for villa ownership in our village need to meet certain criteria in order to be elected as residents. The applicant needs to be 60 years old and needs to show a medical report on current health and predicted health issues, based on which the applicant’s eligibility will be determined. The application form is very straightforward and accessible to people looking to enjoy the great retirement experience our village has to offer. 

Termination of contract:

The leasing contract can be terminated at any time during its term after a minimum of 5-Years, based on any of the following conditions:

■ The owner of the villa decides to leave the village permanently
■ Upon the passing of the owner/investor
■ If the resident can no longer afford the service fees
■ If the resident breaks the project rules and regulations repeatedly
■ If the resident becomes a danger to other occupants or disturbs the tranquility of the village
■ If the resident becomes incapacitated and cannot afford a care giver
■ Expiry of the 30-year lease
■ Transfer of ownership

Phuket Retirement Village reserves the right to make all the assessments and decisions necessary in regards to the circumstances in which the leasing contract can be terminated.