Over 25 years of tourism development, arrivals at Phuket Airport have increased fivefold. In 2019, the island of eternal summer welcomed 39,916,000 tourists from around the world. The COVID-19 pandemic caused a global pause in tourism, but everything is gradually returning to normal, and the situation in Phuket is successfully recovering. In a quarter of a century, Phuket has managed to establish itself on the world stage and earn a reputation as one of the world’s premier leisure destinations.
Thanks to the tourism boom and steadily growing demand for a place in the sun, Phuket offers a wide selection of real estate and serves as an example for the entire Kingdom of Thailand in terms of the variety available for both living and investment (more details in our article “Why People Buy Property in Thailand and Phuket”).
Note that there is no single classification of property types; the division is conditional and aims to simplify the task of choosing a suitable property for you.
All real estate in Phuket can be divided into three main types: condominiums, villas, and houses.
Condominium: What is it and how does it differ from a typical residential complex?
Purchasing property in a condominium is the most common option for investors.
A condominium or condo is a multi-unit residential complex on guarded territory, which may include one or several buildings. The similarities with a typical residential complex end there.
What are the features and advantages of condominiums?
Usually, a condominium is built with its own infrastructure: one or more pools (including rooftop pools), a gym, sauna, play area, reception, cafe; often a free shuttle service to the beach is available. All of this is free of charge for residents of the complex.
Property maintenance is managed by a management company created specifically for that particular residential complex. Therefore, in quality condominiums, you’ll always find well-kept grounds, clean pools, timely elevator checks and repairs, and regular renovation updates. If desired, the management company will handle renting out your apartment in your absence, read utility meters, find tenants, and assist with check-in and check-out.
What is the difference between a studio and a 1-bedroom apartment?
Typically, condominiums offer studios, as well as 1-, 2-, or 3-bedroom apartments with living areas ranging from 25 to 150 m², with an optional furniture package. Options like penthouses or duplexes are as rare as precious gems; they are usually purchased immediately at the sales launch or during construction.
A studio consists of a living area combined with a kitchenette + bathroom + balcony.
A 1-bedroom apartment features a separate layout: 1 bedroom + living room with kitchen and dining area + bathroom + balcony.
The price of apartments during construction starts from 100,000 THB per m². In completed buildings, the price ranges from 130,000–140,000 THB per m².
For Phuket Experts clients, we have selected the best apartment offerings on the market, which you can view via the link TOP-5 Apartments for Living and Income.
Villas in Phuket
Clients increasingly come with requests to purchase villas for living and investment. The villa market in Phuket began developing 30 years ago, and today the number of offerings is rapidly increasing.
As we mentioned in our article “Why You Should Buy Property in Thailand and Phuket,” the Phuket market is still young and developing, so becoming the owner of a luxury villa on a world-renowned resort with limited space for development is possible at a still accessible and very attractive price, unlike many other resort destinations.
An interesting trend observed after COVID-19:
Before: People chose relatively small units for vacationing 3–4 weeks a year, renting out the villa for income the rest of the time.
Now: There is a clear increase in demand for 3-, 4-, and even 5-bedroom villas, always with a large terrace and private pool. Buyers and renters, considering their pandemic experience, are looking at longer stays on the island paradise with the ability to work from home comfortably.
It’s practically impossible to buy a ready-made villa from a developer, as all available villas in a project are usually sold out at the launch or construction stage. A major advantage for you is that construction begins immediately after payment and takes only about 12 months (rarely up to 24 months), after which you can confidently live in it or start generating income.
“Will I live in my villa while construction is going on around me?” — you might ask.
You have nothing to worry about. As mentioned above, all villas in the project are usually sold early, meaning construction of the entire complex begins and ends practically simultaneously.
What exclusive advantages do you get when purchasing a villa?
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For example, premium Botanica Foresta villas from a developer with 14 years of experience constructing premium segment villas offer a choice between a Tropical Balinese or Contemporary architecture style.
Guarded, gated community: Each villa is enclosed by a high fence, ensuring privacy and complete seclusion. You can leisurely enjoy morning coffee on the terrace or practice yoga surrounded by nature. You have at your personal disposal: a private pool, spacious terrace, inner garden, BBQ area, and private parking.
Individual approach: Developers prioritize thoughtful layouts and maximum owner comfort. If desired, you can reorganize the villa’s space to your taste.
Pets are allowed: You don’t need to worry about your pets and their comfort.
Well-planned development infrastructure: Gym, kids’ club, clubhouse, and cafe on site.
Unique community, status, and personal comfort: It’s hard to deny the prestige of living in a luxury villa, placing you alongside neighbors who share similar values, lifestyles, and social status.
Faster and higher return on investment (ROI): As noted, villas are built in about 12 months, making the return on investment almost immediate. Remember that not only does the villa itself appreciate, but the land plot beneath it also increases in value, yielding even greater long-term returns.
The market price of villas depends on view, location, build quality, material selection, total living area, and plot size.
Conventionally, we can distinguish 2 types of villas:
- Beachfront villas or villas with sea views. Prices for quality projects from reliable developers start from 100,000,000 THB.
- Villas with mountain, lake, or nature views. Prices start from 17,000,000 THB.
We have prepared a dedicated selection of top properties, available at the link TOP-5 Best Villas in Phuket.
Houses in Phuket
Houses in Phuket include townhouses and semi-detached houses (two homes sharing a wall). Houses are mainly located in the central part or closer to the eastern coast of the island in higher-density residential areas, away from tourist infrastructure.
Due to lack of demand, the supply of quality houses in Phuket is unfortunately limited. Prices for liquid houses with good location, infrastructure, and guarded territory vary, starting on average from 9,000,000–10,000,000 THB.
Primary vs. Secondary Market: Which is Better?
Villa, house, or apartment from a developer or purchase from a private owner? It all depends on your goal. Both options have their pros and cons, which we will discuss below.
The primary market continues to grow rapidly in correlation with increasing demand and modern market requirements.
We can distinguish 3 types of purchase options in Phuket:
- Off-plan purchase — at the sales launch/construction stage.
Buying off-plan is widespread and popular in Phuket due to several key advantages:
- Most attractive initial pricing, which increases by 30–40% upon completion.
- Interest-free installment plan until completion and key handover.
- Ability to request layout modifications or combine units according to your wishes.
- Access to high-demand units (duplexes, corner units, view apartments) that are limited in quantity and sell out quickly.
Get a selection of Phuket real estate with payment plans up to 7 years →
- Completed properties from the developer. Purchasing property in a completed villa or condominium complex also finds its clients.
The undeniable advantage of this option is immediacy — no waiting, you can move in or rent out immediately. However, if the project is ready and units remain, unit availability will be very limited and not necessarily in prime locations.
- Investment properties, often of hotel format.
These usually operate as hotels, frequently in collaboration with renowned international hospitality brands such as Sheraton, Marriott, or Wyndham. Your property becomes part of the hotel inventory and is rented out primarily on a short-term basis. This option suits those buying exclusively for rental income. For those wanting to stay in their apartment for more than 15 days a year and furnish it to their taste, hybrid holiday-and-income developments are recommended.
The secondary market is characterized by a modest selection. This is because owners observing steady price growth are not eager to part with their property, at least not quickly.
Imagine: you bought an apartment for 5,000,000 THB off-plan from a developer. In two years, with appreciation, it is worth 7,000,000 THB. Given overall market growth and good rental income, you likely wouldn’t want to sell such a profitable investment quickly.
While inventory is limited, the main advantage of buying on the secondary market is that the property is immediately at your disposal, allowing you to assess the finishes, neighborhood, and other parameters beforehand.
Summary
The choice of property depends on your goals. However, it’s important to understand that prices rise rapidly with each new project, so we recommend not delaying the decision to purchase property, as a more suitable moment for buying should not be expected in the near or distant future.
