Phuket’s luxury real-estate market is booming, with strong interest from foreign buyers, long-stay visitors, and remote workers. Even with softer tourism numbers, demand for resort-style villas has surged. Sales in 2024 jumped 23% compared with those in the previous year, signaling renewed confidence and steady recovery in the island’s high-end property sector.
Villa transactions in Phuket have been climbing for years. Sales doubled in 2022 to more than 300 units and then quadrupled to around 600 units last year — far above pre-pandemic levels. From 2014 to 2024, the cumulative sales rate reached 75%, and the largest wave of new-villa supply is expected to hit the market in 2025. Most buyers were international, especially from the UK, Hong Kong, and the United States, with 68% purchasing villas primarily as investments.
Developers are answering the demand with new upscale projects, including Garden Atlas Bayview Villa in Makham Bay. Although June saw a brief slowdown, condo sales bounced back, starting in August. The rebound was fueled by a wide mix of buyers, including expatriates from Hong Kong and Singapore. Strong interest has prompted additional phases at projects like Sudara Residences, further boosted by relaxed regulations and the growing appeal of tropical lifestyle living.
Foreigners made up 60% of all condo purchases in 2024, with many opting for a hybrid model — using their units as a vacation home part of the year and renting them out as investments the rest of the time. Over the past decade, Phuket’s property market has delivered an average annual capital gain of 6.4%, driven by health tourists, digital nomads, and international professionals. Landmark developments such as Amal Group’s Gardens of Eden illustrate the continued foreign appetite, particularly from Russian-speaking buyers.
Looking forward, Phuket’s real-estate market is expected to remain strong despite global economic headwinds. New developments and project expansions are already underway, especially in high-growth areas like Bang Tao, which has consistently outperformed the island’s average market pace. Developers remain optimistic that strong demand and a limited new supply will keep momentum high in the years ahead.
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