Phuket-
Phuket’s high-end real estate market is booming, with luxury villas and condominiums valued over 100 million baht attracting significant interest from both Thai and international buyers.
Mr. Sophon Phonchockchai, President of the Thai Real Estate Research and Evaluation Information Center at the Agency for Real Estate Affairs (AREA), revealed that in the first six months of this year, the center tracked 18,424 accommodation units across 248 projects in Phuket. Among these, luxury accommodations valued at over 100 million baht are found in 17 projects, totaling 162 units. These high-end properties amount to a combined value of 20.775 billion baht, representing 11 percent of the total accommodation value of 181.661 billion baht.
From mid-2023 to mid-2024, approximately 8,961 units, or 49 percent of the total accommodations, were sold. Of these, 58 units, or 36 percent of the luxury accommodations, have already been purchased. The high sales rate of luxury accommodations, at 11.7 percent per month, suggests that these properties will be sold out within five months.
Mr. Sophon concluded that the data indicates a growing popularity of luxury accommodations among Thai and foreign buyers.
