Phuket Real Estate Market Overview 2025: Trends, Opportunities, and Future Outlook
Why Invest in Phuket Real Estate?
Phuket remains one of the most sought-after destinations for property investment in Thailand. With rising tourism, a strong luxury market, and increasing demand for condominiums and villas, 2024 has seen a significant shift in buyer trends.
This article presents an in-depth analysis of Phuket’s real estate market in 2024 and outlook into 2025 covering:
- Condominium & Villa market trends
- Tourism & hospitality growth
- Investment opportunities and future predictions
1. Phuket Tourism Boosts Real Estate Demand
Tourism is a key driver for the property market in Phuket, influencing demand for both residential and hospitality properties.
📈 Key Tourism Statistics (2024)
- 35.5 million international tourists visited Thailand in 2024.
- 18.8% increase in tourist arrivals in H2 2024 compared to H1.
- Phuket International Airport saw a 21% Y-o-Y increase in passengers.
- Strong demand for short-term rentals, driving condominium investments.
✔️ Investment Tip: The steady rise in international tourists indicates strong demand for rental properties, making Phuket an ideal location for buy-to-rent investors.
2. Phuket Condominium Market Trends in 2024
📊 Market Performance at a Glance
- 21 new projects launched in H2 2024, bringing 5,933 new units to the market.
- Condominium sales increased 26.0% Y-o-Y, showing strong buyer demand.
- The Entry-level segment (< THB 8M) dominates new launches.
🔎 Key Areas for Investment
Most newly launched units are concentrated in West Coast areas, driven by Bangkok-based developers expanding into the island.
📌 Newly Launched Condominiums in 2024:
- Laguna Bayside (Luxury: THB 17M – 98.9M)
- Sunshine Beach Resort & Residences (Entry-level: THB 4.4M – 29.7M)
🔹 Investor Takeaway: The Phuket condominium market remains active, with new launches presenting lucrative investment opportunities.
3. Phuket Villa Market: A Growing Segment
The villa market in Phuket continues to attract both Thai and international buyers, with a surge in new project launches.
🏡 Villa Market Insights
- 30 new villa projects in H2 2024, introducing 562 new units.
- Majority of new projects are in the Mid-range segment (THB 15M – 35M).
- 75.3% sales rate despite increasing competition.
- West Coast remains the top choice for villa buyers.
📌 New Villa Launches in 2024:
- Sri Panwa Lagoon Residence (Luxury: THB 45.7M – 195.8M)
- Banyan Tree Grand Residences (Luxury: THB 64M – 123M)
✔️ Investment Tip: West Coast Phuket is still the prime location for villa investments, with high rental yields for luxury beachfront properties.
4. Phuket Hotel Market: Resurgence of the Hospitality Sector
With increasing tourist arrivals, Phuket’s hotel industry is showing strong recovery.
📉 Hotel Market Performance
- New hotel supply declined by 37.8% H-o-H, creating room for investment in hospitality.
- RevPAR and ADR increased Y-o-Y, indicating higher profitability.
- Three new luxury hotels opened in H2 2024, adding 575 keys to the market.
📌 New Hotel Openings in 2024:
- Radisson Red Phuket Patong Beach (First Class: 388 keys)
- Veranda Resort Phuket, Autograph Collection (Luxury: 159 keys)
- Twinpalms Bangtao Phuket Tented Resort (Luxury: 28 units)
✔️ Investor Takeaway: A decline in new hotel supply makes existing hospitality investments more valuable, with higher occupancy rates and revenue potential.
5. Future Outlook: Phuket Real Estate Market in 2025
📍 Key Predictions
- More Bangkok developers expected to enter Phuket’s market.
- High-end and mid-range villas will dominate new launches.
- Condominium supply will increase, with a focus on resort-style residences.
- Short-term rentals and hospitality properties will continue to see high demand due to rising tourist numbers.
✔️ Final Investment Insight:
If you’re considering real estate investment in Phuket, focus on:
- West Coast condominiums for strong rental returns.
- Luxury and mid-range villas for capital appreciation.
- Hospitality properties due to increasing tourist arrivals.
📌 Key Takeaways for Investors
✅ Phuket’s real estate market is growing, driven by tourism and foreign investment.
✅ Villas and condominiums remain strong investment opportunities in 2024.
✅ Hospitality properties are seeing rising demand, making hotel investments lucrative.
✅ The West Coast continues to be the top-performing area for real estate investments.
Data Source: This report is based on CBRE Research (H1 & H2 2024) and includes market insights from Thailand’s leading property experts.
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