The Phuket real estate market in 2024–2025 shows strong growth, despite limited new supply. According to CBRE Thailand, primary market sales rose by 18% compared to 2023, with average prices reaching $3,800 per sqm — a 5-year high.
Demand Outpaces Supply
As in 2014, Phuket still has a limited number of new projects, especially in the premium segment. This shortage has led to high liquidity and allowed developers to sell remaining units at premium prices.
Phuket Real Estate Association reports 142 villas sold in Q4 2024 — 41% more than the previous year. The most in-demand price range is $500,000 – $1.2 million.
Where Are Buyers Investing?
Top-selling areas:
- Chalong & Coco Chalong — pool villas with bay views, from $650,000;
- Rawai — popular with Russians and Europeans due to beach access and proximity to the airport;
- Surin & Bang Tao — luxury segment: villas from $2M, condos from $1.1M.
Who Is Buying?
CBRE analysis shows top buyers in 2025:
- Chinese (38%) — investing in rental properties and long-term residency;
- Russians (29%) — returning since 2022, seeking homes and business bases;
- British and Scandinavians (22%) — traditional investors;
- Bangkok Thais (11%) — choosing Phuket over Pattaya.
Unlike in 2014, Chinese investors are highly active, especially after the launch of the "Thailand Elite Visa Plus" program, offering long-term visas for property purchases over $500K.
Luxury Market: Record Sales
In 2024, 9 luxury villas over $7 million were sold — 9x more than in 2014. A highlight: a villa in Andara Reserve sold for $12.5 million — a new record.
New luxury projects launched in 2024:
- Banyan Tree Grand Residences Phase II — 15 villas from $3.8M;
- The Chava Phuket — gated sea-access community from $4.2M.
Outlook for 2025
CBRE and Knight Frank forecasts:
- 5–7% price growth;
- Increased share of Chinese and Russian buyers;
- Infrastructure upgrades: new Phuket airport terminal (2026) and express road to Rassada.
Phuket real estate remains one of Southeast Asia’s most reliable assets. With rising demand and prices, now is the perfect time to enter the market. My Thai Home helps you find your dream villa with full legal support and transaction assistance.
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