Phuket Property Market Update May 2025
Overview
C9 Hotelworks market research reported Phuket resort-grade residential market has a total of 40,600 units for sale across 343 active developments as of Q1 of 2025. Condominiums remain the dominant product, comprising nearly 83% of total supply with 33,704 units across 124 projects. The majority of this inventory is non-branded. The landed property segment—which includes villas, townhouses, and semi-detached homes—has also gained notable traction. A total of 6,896 landed units are currently on the market across 219 projects. In recent years, several Bangkok-based developers, including Sansiri and Ananda, have expanded their presence in Phuket in response to growing demand for residential real estate on the island. By total supply, RHOM Bho Property holds the largest share, with 4,820 units across nine projects in Phuket, followed by Origin Group, Sansiri, Supalai, and Laguna.
Phuket’s residential prices continue to rise, with clear premiums emerging across branded, landed, and beachfront segments. As of 2025, condominium median price is THB 144,000 per sq.m, while villas / landed properties have a median price of THB 70,000 per sq.m. One-bedroom condos can reach up to THB 19.4 million in Cherngtalay, THB 15.4 million in Rawai, and THB 9.1 million in Karon, while three bedroom villas / landed properties are priced up to THB 137.9 million in Cherngtalay, THB 42.7 million in Rawai, and THB 40.4 million in Karon. Branded properties outperform non-branded stock across all categories:
- Branded condominiums average THB 181,000 per sq.m, a 28% premium over non-branded units (THB 141,000 per sq.m).
- Branded villas / landed properties are priced up to 2 times higher than nonbranded (THB 162,000 vs. THB 73,000 per sq.m)
More than 32,000 units in active condo supply and older projects beginning to enter the resale market, developers will face rising competition on both price and product features. Differentiation through amenities, branding, and post-sales service is now essential to preserve pricing power and avoid inventory drag.
Non-branded condominiums in the primary market average THB 139,000 per sq.m, reflecting a 39% premium over the secondary market average of THB 100,000 per sq.m. This pricing gap highlights the added value of newer developments, which feature modern layouts, upgraded specifications, and enhanced amenities. In contrast, resale units—while still trading above their original purchase prices— benefit from historical cost advantages, including lower land and construction costs at the time of development.
Credit : Phuket Property Market Update May 2025