Phuket real estate market ranks second after Greater Bangkok

According to the latest residential market survey as of 2026 by Sopon Pornchokchai, President of the Thai Real Estate Research and Valuation Information Centre at the Agency for Real Estate Affairs Co., Ltd. (www.area.co.th), Phuket property has expanded sharply.

Phuket is the second-largest real estate market, behind only Greater Bangkok.

This is based on the value of real estate products currently awaiting sale in 2026, totalling THB194.545 billion.

Chonburi has the highest number of unsold units after Greater Bangkok, at 39,521 units, but its unsold value is THB160 billion.

It can be said that Phuket property prices average as much as THB12.921 million, while in Chonburi the average price is THB4.048 million.

In terms of unsold units, Phuket still trails Greater Bangkok, Chonburi, Rayong and Chiang Mai.

At the end of 2025, the Thai Real Estate Research and Valuation Information Centre at the Agency for Real Estate Affairs Co., Ltd. surveyed 777 property projects across Phuket Island and found that 47% were in the Thalang district, 38% in the Mueang Phuket district and 15% in the Kathu district.

Together they comprised 88,997 units, of which 62,132 had been sold, and 9,463 remained for sale.

The monthly sales rate was 4.4%, which is considered higher than in Bangkok.

If no new projects are launched, it would take about 22.8 months, or almost two years, to sell the remaining supply, while the Bangkok supply would take around four years.

Phuket real estate products comprise detached houses, semi-detached houses, townhouses, shophouses, residential condominium buildings, subdivided residential land, holiday condominiums and villas.

Overall, 83% of these products have been sold.

The fastest-selling products are residential condominium units, with 6.1% sold per month, excluding subdivided land, of which there is very little.

They are followed by villas, which sell at about 4.5% per month.

Phuket property products are therefore considered to sell better than those in Bangkok.

The main category in Phuket is holiday condominiums, with a large supply of 38,613 units and a value as high as THB321.036 billion, or 48% of the total value.

Villas total 6,563 units, of which 3,949 have been sold, and 2,614 remain for sale, with a combined value of THB207.568 billion.

In unit terms, villas account for only 7%, but in value terms, they make up as much as 31% of the market.

On one hand, holiday products, holiday condominiums and villas, together account for 50% of all units, but their combined value is as high as 79% of all property products.

This shows that Phuket is a centre for products aimed mainly at selling or renting to foreign nationals.

On the other hand, housing for residents or Thais from elsewhere who move to work in Phuket accounts for a very small share.

For example, detached houses account for only 7%.

Similarly, semi-detached houses and townhouses account for only 12%.

Residential condominiums make up 21% of units but only 7% of development value.

Of the total development value of THB671.86 billion, products priced at no more than THB5 million account for only THB151.72 billion, or just 23%.

Most products are priced above that. Products priced at THB20 million and above total THB241.572 billion, or 36% of the whole.

These figures indicate that Phuket real estate products have a distinctive character, focusing on foreign nationals or high-income earners in Thailand, rather than being a city primarily for Thai people.

While residential condominiums have a combined value of only THB48.992 billion, holiday condominiums are worth as much as THB321.036 billion, almost seven times more.

General residential condominiums generally have selling prices of no more than THB10 million to THB15 million, but the largest group sells for only THB2 million to THB3 million.

The average price is only THB2.562 million, while holiday condominiums average THB8.314 million.

There are 90 units priced above THB100 million, with a combined value of THB13.004 billion; 54 have been sold, and only 36 remain awaiting buyers.

Holiday condominium products are generally located mainly along the coast.

Looking more closely at Thalang district, which has the highest level of real estate development in Phuket province compared with Mueang Phuket and Kathu districts, there is particularly extensive development of holiday condominiums worth THB222.892 billion, or 69% of the total.

The price range with the most development is THB7 million to THB10 million, with a value of THB43.751 billion and an average price of THB8.212 million; 79% has been sold.

The THB100 million-and-above segment is small, with only 68 units valued at THB12.784 billion, averaging THB188 million per unit.

The Thai Real Estate Research and Valuation Information Centre at the Agency for Real Estate Affairs Co., Ltd. expects Phuket’s property market in 2026-27 to remain in a speculative state, particularly among foreign nationals, but more genuine residents will move in.

Phuket’s economy continues to grow, unlike the country overall, where growth remains slow.

Fairly well-off foreign nationals are expected to continue moving to Phuket, particularly from Europe and China, which are still growing.

Villas and residential condominiums are therefore expected to continue growing because purchases by foreign nationals are likely to increase.

However, the airport should be improved or nearby airports added, and especially the mass transit system should be made more efficient.

Real estate development in areas not far from the airport is likely to have an advantage over inner-city areas because travel times are shorter, such as around Bang Tao Beach and on Phuket’s eastern side, where land prices remain much cheaper than on the western side.