According to the latest housing market survey in 2025 by Dr. Sopon Pornchokchai, President, Agency for Real Estate Affairs (www.area.co.th), Phuket's real estate market is experiencing significant growth.
 

Map 1: Locations of 777 real estate projects in Phuket Province

Source: Agency for Real Estate Affairs, March 2026
 

Phuket has the second largest real estate market after Bangkok and its surrounding areas, based on the current value of unsold properties as of 2026, totaling 194,545 million baht. Chonburi has the second highest number of unsold units after Bangkok and its surrounding areas, with 39,521 units and a value of 160,000 million baht. The average price of real estate in Phuket is as high as 12,921 million baht, while in Chonburi it is 4,048 million baht. In terms of the number of unsold units, Phuket lags behind Bangkok and its surrounding areas, Chonburi, Rayong, and Chiang Mai.
 

As of the end of 2025, a survey by Agency for Real Estate Affairs (AREA) Co., Ltd., of 777 real estate projects across Phuket found that 47% were located in Thalang district, 38% in Mueang district, and 15% in Kathu district, totaling 88,997 units. 62,132 units had already been sold, leaving 9,463 units unsold. The monthly sales rate was 4.4%, significantly higher than in Bangkok. If no new projects were launched, it would take approximately 22.8 months, or almost two years, to sell all the remaining units, compared to approximately four years for the supply in Bangkok.
 

Real estate in Phuket comprises single-family homes, semi-detached houses, townhouses, shophouses, residential condominiums, residential land plots, vacation condominiums, and villas. Overall, 83% of these properties have already been sold. Residential condominiums are the fastest-selling type, at a rate of 6.1% per month (excluding land plots, which are very limited). Villas are the second fastest-selling type, at approximately 4.5% per month. Therefore, real estate in Phuket is considered to be selling better than in Bangkok.
 

Table 1: Overview of the Phuket real estate market in 2025.

Source: Agency for Real Estate Affairs, March 2026
 

The main product in Phuket is vacation condominiums, totaling 38,613 units, with a value of 321,036 million baht, or 48% of the total value. Villas, totaling 6,563 units, have been sold (3,949 units), leaving 2,614 units unsold, with a total value of 207,568 million baht. In terms of units, villas account for only 7%, but in terms of value, they represent a significant 31% of the market.
 

On the one hand, the value of vacation properties, namely vacation apartments and villas, accounts for 50% of all units and 79% of the total real estate value. This indicates that Phuket is primarily a hub for properties sold or rented to foreigners.   On the other hand, residential properties for locals or Thai migrants working in Phuket account for a very small proportion. For example, single-family homes make up only 7%, while semi-detached houses and townhouses only 12%. Although condominiums account for 21% of the total units, they represent only 7% of the total development value.
 

Of the total development value of 671,860 million baht, only 151,720 million baht, or just 23%, was found to be priced at less than 5 million baht. The majority of properties were priced higher, with properties priced at 20 million baht and above totaling 241,572 million baht, or 36% of the total. These figures indicate that Phuket's real estate market is characterized by its focus on foreigners or high-income earners within Thailand, rather than being primarily a city for Thai residents.
 

Table 2: Comparison of residential and vacation apartments in Phuket.

Source: Agency for Real Estate Affairs, March 2026
 

While residential condominiums had a combined value of only 48,992 units, vacation condominiums were valued at a staggering 321,036 million baht, or almost seven times higher. Typical residential condominiums typically sell for a maximum of 10-15 million baht, with the largest segment priced at only 2-3 million baht, averaging just 2.562 million baht. In contrast, vacation condominiums had an average price of 8.314 million baht  , with 90 units exceeding 100 million baht, totaling 13,004 million baht. 54 units have already been sold, leaving only 36 units remaining. Vacation condominiums are primarily located along the coast.
 

Table 3: Vacation Apartments in Thalang District, Phuket.

Source : Agency for Real Estate Affairs, March 2026
 

A closer look at Thalang District, the district with the highest real estate development in Phuket Province (compared to Mueang and Kathu Districts), reveals an exceptionally high volume of resort condominium development, totaling 222,892 million baht, or 69% of the total. The   most developed price range is 7-10 million baht, with a value of 43,751 million baht and an average price of 8,212 million baht, of which 79% have been sold. Units priced above 100 million baht are fewer in number, with only 68 units valued at 12,784 million baht, averaging 188 million baht per unit.
 

Agency for Real Estate Affairs forecasts that the Phuket real estate market in 2026-2027 will remain speculative, particularly among foreigners, but with an expected increase in actual residency. Phuket's economy continues to grow, contrasting with the overall national economy which is experiencing slower growth. It is anticipated that affluent foreigners will continue to move to Phuket, especially those from Europe and China, whose numbers remain strong. The villa and condominium market is expected to continue growing due to increased purchases by foreigners.
 

However, improvements are needed to the airport, including the addition of nearby airports, and especially a more efficient public transportation system. Real estate development in areas closer to the airport would likely have an advantage over areas in the city due to shorter travel times,   such as Bang Tao Beach and the east coast of Phuket, where land prices are significantly lower than on the west coast.
 

Dr.Sopon Pornchokchai

President, Agency for Real Estate Affairs  Email: sopon@area.co.th

He is also the President of the International Real Estate Federation, Thailand Chapter (FIABCI-Thai).  He has been consultant in housing, real estate and urban developments for various listed companies, government agencies in many countries and UN organizations such as UNHabitat, World Bank, ADB and the like.  He is a certified valuer by profession.