Phuket’s property game-changer: from beach getaway to investor magnet

Once known primarily as a world-famous holiday island, Phuket is now moving beyond its traditional role—emerging as an international economic hub on the Andaman coast and a high-value real-estate battleground. The key drivers are large-scale mega projects from both the public and private sectors, landmark developments such as ICONSIAM PHUKET, and a growing pipeline of branded residences backed by global names. Together, these are more than property projects—they are a signal of long-term confidence from investors worldwide who are betting on Phuket’s future.

Pattarachai Thaweewong, Director of Research at Colliers International Thailand, said that over the past five years (2021-2025), Phuket saw more than 45,066 new residential units launched, representing total investment value of 469,720 million baht. The figures suggest Phuket’s growth is not merely trend-driven, but increasingly structured—particularly in the condominium and holiday-home segments. The hottest year was 2024, when new supply reached 18,515 units with investment value of more than 190,112 million baht.

By the end of 2025, Phuket had more than 72 newly launched projects worth over 81,643 million baht, totalling more than 10,312 units. Notably, many projects achieved rapid sales closures, while some recorded 50%-70% sales within less than one month. This is seen as a clear signal that demand is not only short-term speculation, but real purchasing power from both domestic buyers and foreign investors.

While Bangkok’s property market has faced pressure, many investors have begun shifting their focus towards high-growth tourism cities. Phuket has been among the first names mentioned—driven by both long-stay demand and investment demand. Foreign investors, in particular, increasingly view Phuket property as both a holiday home and a long-term income-generating asset.

In 2025, Phuket welcomed more than 10.47 million foreign tourists and generated tourism revenue of over 545 billion baht. Although the figure eased slightly from the previous year, the visitor mix remained strong—especially among travellers from Russia, Australia, India, China and Kazakhstan. These groups are not only visiting; many have also become property buyers and long-term residents in Phuket.

Colliers expects Phuket’s condominium market to remain strong in 2026, even if new launches ease slightly to around 6,000-8,000 units. The standout locations are expected to remain Bang Tao, Cherng Talay, Rawai, Kata, Karon and Phuket Town. At the same time, major listed developers—such as Sansiri and AssetWise—are continuing to expand their presence on the island.

Another standout segment is the luxury villa market. By the end of 2025, supply topped 1,100 units across 40 projects, with a combined value of more than 27,215 million baht. More than 58% of supply is concentrated in Cherng Talay, an area particularly popular among Russian buyers. A key trend is that developers are increasingly moving away from beachfront plots towards quieter inland areas with lower costs, focusing on the 30-50 million baht price range—seen as the market’s sweet spot.

Taken together—mega projects, improving infrastructure, strong Thai and foreign purchasing power, and sharply rising land prices—analysts suggest Phuket’s property pricing in 2026 could move closer to Bangkok and even leading global cities. This is why many investors now see Phuket as more than a tourist destination, but as a closely watched property treasure trove with long-term potential.