PUBLISHED : 6 Jan 2025 at 05:47
Phuket’s luxury property market is soaring to unprecedented heights, emerging as a top trend for 2025.
The surge started in 2022 and reached new peaks last year, showing no signs of slowing.
Pasu Liptapanlop, executive director of SET-listed developer Proud Real Estate, said the Phuket property market, particularly the upper-end segment, remains very robust, with demand continuing to grow.
“Supply is substantial and so is demand,” he said. “Around 60-70% of buyers are from overseas, including Russia, Israel and the Middle East, while 30-40% are local buyers, comprising residents from Bangkok and expats in Phuket.”
Fuelled by an influx of foreign buyers, particularly Russians, the island’s blend of tropical climate, upscale lifestyle and lucrative investment opportunities continues to drive demand, according to developers.
Developers said for many Russians, Phuket represents a safe haven and an escape from conflict in Russia, offering both a secure investment and a tranquil retreat amidst global turbulence.
Developers on the island believe it can rival global luxury hubs such as Miami and Dubai based on its exceptional value and distinct cultural charm that captivates discerning buyers.
Luxury properties on Phuket are primarily clustered along the west coast, where proximity to international schools, world-class medical facilities, luxury retail outlets and private marinas enhances their appeal.
Phuket’s property market has repeatedly shattered records in recent years, with the villa segment emerging as a standout performer.
Buyers are drawn to Phuket for a variety of reasons. Sophisticated young professionals seek modern living spaces that promise both luxury and attractive rental yields.
Families, especially expatriates, are captivated by the island’s safe and upscale environment, complete with essential amenities.
For wealthy individuals, Phuket serves as both a personal sanctuary and a legacy investment, offering stable returns in a dynamic market, according to developers.
Popular locations such as Bang Tao and Cherng Talay remain top choices for their vibrant communities and beachside amenities.
Infrastructure upgrades — including the expansion of Phuket airport, plans for a light rail system and new marina developments — enhance the island’s long-term appeal for tourism and real estate investment, according to developers.
The property sector on the island is positioned to be one of Southeast Asia’s premier destinations for affluent investors going forward, noted developers.
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