Phuket property market reaches B705 billion as holiday villas and condos take 52% share

Phuket’s property market has 90,597 residential and holiday-living units valued at B705.055 billion, the highest total among Thailand’s provincial markets, according to a 2026 survey by the Thai Real Estate Information and Valuation Research Center at Agency for Real Estate Affairs.

Dr Sopon Pornchokchai, the centre’s chairman, said holiday villas and condominiums accounted for 52% of the units surveyed and about 80% of the total market value. The market is supported mainly by foreign demand, particularly from buyers from Russia, China, Europe and the Middle East seeking investment opportunities or long-term homes.

The survey covered 806 projects in Phuket’s three main districts: Thalang, Muang Phuket and Kathu. Thalang had the largest number, with 411 projects, followed by Muang Phuket with 281 and Kathu with 84.

Of the 90,597 units surveyed, 76,582, worth B527.777 billion, had already been sold. That represents about 85% of the total number of units. The average monthly sales rate was about 5.2% of available units, and Dr Sopon estimated that existing inventory would take about 19.2 months to sell if no new projects were launched.

New units entering the market in 2026 were valued at B176.538 billion across 13,779 units, with an average selling price of B12.812 million per unit. The figures indicate a market weighted towards higher-priced developments.

Holiday villas were the largest category, with 40,263 units, or 44% of the total. Holiday condominiums accounted for 6,830 units, or 8%. Residential condominiums made up 21,392 units, or 24%, while townhouses, semi-detached houses and detached houses accounted for 9,729, 5,924 and 5,126 units respectively.

Residential condominiums had the fastest sales rate, averaging 8.1% of units per month. Holiday condominiums and villas averaged 4.9%, while detached houses, semi-detached houses, townhouses, shophouses and subdivided land averaged about 3%.

The survey found that most residential condominiums were priced at B3 million to B5 million, a range that included 9,481 units, or 44% of the category. Holiday condominiums were also concentrated in the B3 million-to-B5 million range, with 11,849 units, or 29%, followed by 8,072 units priced at B5 million to B7 million.

Holiday villas were significantly more expensive. Almost half of the category, or 2,930 units, was priced at B20 million to B40 million.

Thalang, particularly Cherng Talay, Bang Tao, Layan, Si Sunthon and Thep Krasattri, was the main development area. The district’s proximity to Phuket International Airport, availability of larger plots and access to hotels, international schools, healthcare and lifestyle facilities have supported villa, holiday-home and mixed-use developments.

In Thalang, holiday condominiums accounted for 24,994 units, or 54% of the district’s total, with a combined value of B236.807 billion, or 53% of its market value. Residential condominiums were the main product in Muang Phuket, with 11,794 units, while Kathu had 6,940 residential condominium units, representing 49% of the units in that district.

Dr Sopon said Russian and other Commonwealth of Independent States buyers remained an important market in 2025-26, with interest in holiday villas in Thalang, Cherng Talay, Bang Tao, Chalong and Rawai. Buyers from China, Hong Kong, Singapore and Taiwan were also showing increased purchasing power for investment diversification, family accommodation, education and rental purposes.

Western European and Middle Eastern buyers were described as high-purchasing-power groups seeking retirement homes and holiday residences. The survey estimated rental yields for holiday condominiums and villas in the Cherng Talay-Bang Tao area at about 6% to 8% a year.

Dr Sopon said the figures highlighted a more fragile local market, where products aimed at Thai buyers had slower sales than holiday properties. Foreign demand for residential and investment property remained the principal driver of Phuket’s market.