Overview of Phuket Real Estate Market
The Real Estate market in Phuket is correctly described as being unlike any other real estate market in the world. A mere 660 metres from the Thai mainland across the Sarasin Bridge, Phuket’s property market differs even from that of mainland Thailand.
Driven predominantly by foreign investors, Phuket distinguishes itself by the broad mix of nationalities and the types of properties on offer. With an array of projects and areas catering to specific nationalities and price points, it makes for a rather colourful property market.
This section aims to give investors a broad overview of the Phuket real estate sector, including some in-depth analysis of trends within the sector. It looks at prices both on the island and throughout Thailand, and examines the fundamentals which affect both local and broader Thai market prices. It also looks at how the price per square metre can vary in different areas of Phuket, and which properties tend to favour investment/rental income, rather than residential.
Tourism is clearly the key driver of the Phuket real state sector, and the current low interest rate environment offers an ideal investment opportunity for many foreign buyers. With impressive demand, the island enjoys a buoyant property market which for over two decades has helped to raise wages and create very stable employment for the local population.