Phuket Real Estate Market Outlook 2025: Key Facts and Future Potential

Phuket’s real estate market has been a beacon of opportunity, even amid global uncertainties. In 2024, the island’s property sector demonstrated remarkable resilience—condominiums and villas alike have seen robust sales, driven by a surge in international tourism and a steady influx of foreign investment. With 5–7% annual growth projected for 2025 and residential prices expected to rise by 10–15%, the stage is set for continued prosperity.

A Snapshot of 2024: Solid Foundations

In the first half of 2024, the market recorded over 3,000 condominium units and 366 villa units sold, indicating a strong absorption rate. At the start of the year, approximately 500 real estate projects—comprising around 72,000 units valued at 460 billion baht—were on the market, with only about 10,000 units remaining unsold. These figures reflect a healthy balance between supply and demand.

Furthermore, 2024 witnessed the launch of over 12,000 new condominium units with an investment total of 63 billion baht, while villa launches doubled, reinforcing the sector’s appeal. Notably, the villa segment has drawn exceptional interest from Russian buyers, who accounted for 70% of foreign purchases in 2023—a trend expected to continue into 2025.

The Drivers: Tourism, Infrastructure, and Currency Stability

Phuket’s appeal isn’t confined solely to its pristine beaches. The island benefits from a stable economic environment; the Thai baht has remained robust, with the USD/THB exchange rate consistently hovering around 33 for the past five years. This stability, along with new infrastructure projects—such as the expansion of Phuket International Airport—is anticipated to boost property values by an additional 10–15% over the coming years.

Tourism remains a cornerstone of the market. In H1 2024, international arrivals at Phuket International Airport grew by nearly 30%, and overall, Thailand welcomed over 17.5 million tourists. Such figures not only stimulate the rental market but also reinforce long-term value appreciation in both condominium and villa sectors.

A Look Ahead: What to Expect in 2025

As we approach 2025, several factors converge to create an optimistic outlook for Phuket’s real estate market:

• Growth Rate: With annual growth expected between 5% and 7%, investors can anticipate steady capital gains.
• Price Appreciation: Residential properties are projected to see price increases of 10–15%, a trend buoyed by rising demand and limited supply.
• Foreign Investment: Demand from buyers in China, Europe, and the Middle East continues to surge, reinforcing Phuket’s international appeal.
• Villa Market Dynamics: The villa sector, especially in the mid‑range segment (THB 15–35 million), is poised for continued growth, fueled by strong demand and a record sales environment in 2024.
• Infrastructure Impact: Expansion projects, notably at Phuket International Airport, will further enhance connectivity and drive property values upward.

These dynamics illustrate why Phuket remains a prime destination for property investment—a place where lifestyle, sound economic fundamentals, and strategic growth intersect.

In Summary

Phuket’s real estate market is on a promising trajectory as we move into 2025. With strong sales figures, sustained foreign interest, and a supportive economic environment, the island offers a unique blend of luxury and opportunity. For investors seeking stable growth and attractive rental yields, the numbers speak for themselves: robust market data, coupled with infrastructural and currency stability, point to a bright future in Phuket.

If you’re ready to capitalize on this momentum or want tailored advice on navigating the market, our team of Phuket Property Investment Experts is here to guide you.

Reach out today and discover how you can turn Phuket’s vibrant property market into a cornerstone of your investment portfolio.