Luxury housing demand in Phuket rises as Thai and foreign buyers drive market growth
Luxury housing demand in Phuket is rising among Thai and foreign buyers, with Capstone Asset saying purchasers are prioritizing lifestyle and long-term living quality as the island’s branded residences market continues to expand.
Demand for luxury housing in Phuket is increasing among both Thai and foreign buyers, with purchasers seeking lifestyle, identity and long-term quality of life rather than focusing only on investment, according to Capstone Asset.
The company’s chief executive, Thitiwat Khuvijitsuwan, said Phuket is entering a new era for luxury real estate as buyers look for living experiences that reflect their personal tastes and offer a distinct residential lifestyle.
He said newer consumers are placing importance on character, culture and branded experience alongside location and investment potential. Capstone Asset sees that as an opportunity for its PEYLAA Phuket, Autograph Collection Residences project.
The company said the project has recently recorded more than 600 million baht in sales, supported by demand from Thai and foreign buyers seeking long-term living quality.
Thitiwat said Phuket is at an important turning point, shifting from a world-class tourism destination to a global coastal lifestyle city that can attract investors, long-stay residents and international families from around the world.
He said the island is no longer competing only with tourism cities in Thailand, but with global lifestyle destinations, where buyers are looking for quality of life, experience and a sense of belonging.
Data from C9 Hotelworks cited in the report said Phuket remains the largest branded residences market in Thailand and one of the fastest-growing in Asia, driven by buyers who value branded management, lifestyle environment and long-term management quality.
The market is also being supported by continued growth in tourism and infrastructure, the report said. It cited Tourism Authority of Thailand data showing Phuket remains one of the country’s top tourism revenue-generating provinces and has continued to record rising numbers of foreign visitors each year.
Phuket International Airport is in a new expansion phase to accommodate future passenger growth, while other transport infrastructure developments include the Phuket Expressway and urban development in the Bang Tao-Cherng Talay area, which is becoming a new center for luxury lifestyle on the island.
In healthcare and wellness, Phuket is also benefiting from growth in international-standard hospitals, wellness centers and international schools, which the report said are becoming important factors attracting long-stay residents and foreign families to live on the island for longer periods.
