Phuket –
Despite economic uncertainties, Phuket’s real estate sector continues to defy national trends, fueled by a booming tourism industry and strong demand from international buyers seeking second homes. While other regions in Thailand struggle with sluggish economic recovery, rising costs, and external pressures like tax reforms, Phuket emerges as a beacon of resilience.
Recent research from the Thai Real Estate Research and Valuation Information Center reveals that Phuket’s property market is uniquely positioned, largely unaffected by broader economic downturns. The first quarter of 2025 saw an impressive 728 property projects active across the province, offering 72,000 units for sale, with an estimated development value reaching 460 billion baht. So far, 62,000 units have been sold, leaving only 10,000 units available.
Phuket’s most active real estate zone is Thalang district, which boasts 32,000 housing units, of which 25,000 units have already been sold, leaving 7,000 still on the market. In Muang District, 190 projects comprising 28,000 units are currently available, with 26,000 sold and only 1,200 remaining. Kathu District which is the home of Patong records the smallest development footprint with 70 projects and 12,000 units, leaving just 700 units unsold.
The offerings include detached houses, twin houses, townhouses, shophouses, condominiums, vacation residences, and luxury villas. From 2004 to 2024, Phuket’s land prices have surged by 7.47 times, averaging an annual increase of 10.7%—a significant leap compared to other regions in Thailand.
Among Phuket’s hotspots, Rawai Beach leads the pricing growth with a 14-fold increase, followed by Bang Tao Beach (10.67 times) and Mai Khao Beach (9 times). Conversely, locations like Ao Sapam, Karon Beach, and Si Re Island have seen slower appreciation.
The highest land values are observed at Patong Beach, where prices have skyrocketed to 350 million baht per rai (875,000 baht per square wah). Next in line are Bang Tao, Surin, and Karon Beaches, commanding 80 million baht per rai plot of land (200,000 baht per square wah).
With increasing international interest and Phuket’s reputation as a world-class travel destination rivaling Hawaii and Dubai, developers continue to pour investments into new projects, shaping the island into a luxury residential hub. As tourism remains the backbone of Phuket’s economy, its real estate market looks set to maintain its upward trajectory, despite broader economic challenges.
