Phuket Real Estate Market Reached 705 Billion Baht in 2026
The total value of residential and resort property in Phuket has exceeded 705 billion baht, making the island Thailand's largest regional market outside the metropolitan area. According to a 2026 study by the Agency for Real Estate Affairs (AREA), the market features 90,597 residential and hospitality properties. The average price per unit reached 12.812 million baht - a record figure for the country's regional provinces.
Dr. Sopon Pornchokchai, President of the Thai Real Estate Research and Valuation Center, noted that demand is predominantly driven by foreign buyers from Russia, CIS countries, China, and Europe. They purchase property not only for seasonal holidays but also for permanent residence or long-term investment. The share of Thai buyers in the premium segment is estimated at only 15-25%.
Market Structure: Resort Property Dominates
The study covered three main districts of Phuket: Mueang Phuket, Kathu, and Thalang. Of the 806 projects on the market, 411 are located in Thalang district, 281 in Mueang Phuket, and 84 in Kathu. Already sold are 76,582 properties with a total value of 527.777 billion baht, representing approximately 85% of total units.
Resort villas and condominiums account for 52% of all properties on the market. By value, their share is even higher - around 80% of total market value. Resort condominiums are valued at 339.227 billion baht, villas at 221.672 billion baht.
The average sales velocity is 5.2% of available properties per month. This significantly exceeds Bangkok's figures, where it would take approximately four years to sell current inventory, while in Phuket it would take less than two years.
Price Structure of Condominiums and Villas
Resort condominiums are distributed across price segments as follows:
| Price Range | Number of Properties | Market Share |
|---|---|---|
| 3-5 million baht | 11,849 units | 29% |
| 5-7 million baht | 8,072 units | 25% |
| Over 100 million baht | 90 units | less than 1% |
Resort villas occupy a significantly higher price segment. Nearly half of villas - 2,930 properties (43%) - are priced between 20 and 40 million baht. The average villa price in Phuket reached 32 million baht per unit in new 2025-2026 projects.
Thalang - The Island's Development Center
Thalang district has become the most actively developing area of the island due to its proximity to Phuket International Airport and availability of large land plots. It concentrates 411 projects, especially in the sub-districts of Cherng Talay, Bang Tao, Layan, Si Sunthon, and Thep Krasattri.
Thalang district features 24,994 resort condominium units, representing 54% of all district properties. Their total value is 236.807 billion baht, or 53% of the district's total property value. The average price of a resort condominium in Thalang is 8.212 million baht, with 79% of properties in the 7-10 million baht price range already sold.
The most developed price segment in the district is 7-10 million baht, with a total value of 43.751 billion baht. Properties valued over 100 million baht are represented by 68 units with a total value of 12.784 billion baht, averaging 188 million baht per unit.
Buyer Profile: Foreigners Transform the Market
Buyers from Russia and CIS countries remain the most important source of demand in 2025-2026. They show particular interest in resort villas in Thalang, Cherng Talay, Bang Tao, as well as Chalong and Rawai. Demand from buyers in China, Hong Kong, Singapore, and Taiwan has also begun to recover.
Purchases are made for investment diversification, family accommodation for those relocating to or studying in Phuket, as well as for rental income. Resort condominiums and villas in Cherng Talay and Bang Tao generate rental yields of 6-8% annually.
Thai buyers constitute only 15-25% of the premium market. They purchase property predominantly as second homes for leisure, investment diversification, or family use. Residential property for locals or Thai migrants working in Phuket occupies an insignificant share: single-family houses - only 7%, townhouses and duplexes - 12%.
Development Trends: Shift to North and East
Developers are expanding project geography, moving away from traditional western beach zones where land prices have risen and suitable plots are becoming scarce. New projects are launching in northern Thalang, Si Sunthon, Mai Khao, Pa Khlok, and Chalong.
About 60% of new 2025-2026 projects are resort villas with an average price of 32 million baht per unit. The average property value in new projects is approximately 10 million baht. Growth is concentrated in Thalang district, where high-budget projects are increasingly common.
Property in areas closer to the airport gains advantage over urban locations due to reduced travel time. Bang Tao beach and Phuket's east coast particularly benefit, where land prices are significantly lower than on the west coast.
Comparison with Other Thai Regions
Phuket ranks second in total value of unsold property after Bangkok and vicinity - 194.545 billion baht. Chonburi, including Pattaya, has more unsold units (39,521), but their total value is 160 billion baht. The average property price in Phuket reaches 12.921 million baht versus 4.048 million baht in Chonburi.
By number of unsold units, Phuket trails Bangkok with vicinity, Chonburi, Rayong, and Chiang Mai. However, in unit value, the island remains the leader among regional markets.
The total value of property on the market reached 671.860 billion baht. Properties valued under 5 million baht constitute only 151.720 billion baht (23%). Most properties are valued higher, with property priced from 20 million baht and above representing 241.572 billion baht, or 36% of total value.
Market Forecast for 2026-2027
The Agency for Real Estate Affairs forecasts that Phuket's real estate market in 2026-2027 will maintain its speculative character, especially among foreigners, but with expected increases in actual residence. Phuket's economy continues to grow, contrasting with the national economy experiencing growth deceleration.
Wealthy foreigners are expected to continue relocating to Phuket, especially from Europe and China, where demand remains stable. The villa and condominium market will grow through increased foreign purchases.
Airport infrastructure improvements are required, including construction of additional nearby airports, and especially a more efficient public transport system. Development in areas closer to the airport will gain advantage over urban locations.
What This Means for Pattaya Buyers
Phuket's record market value of 705 billion baht directly impacts the investment attractiveness of Pattaya and the Eastern Seaboard. The average property price in Phuket (12.921 million baht) is three times higher than in Chonburi (4.048 million baht), making Pattaya a more affordable alternative for buyers seeking entry to Thailand's real estate market.
Buyers considering Phuket but facing high prices often switch to Pattaya. Here you can find resort condominiums with sea views for 3-5 million baht, while similar properties in Phuket cost from 7 million baht. Villas in Pattaya start from 8-12 million baht, in Phuket - from 20 million baht.
Rental yields in Phuket are 6-8% annually. In Pattaya, this figure is comparable or higher due to year-round demand and lower entry cost. Price growth in Phuket pushes investors to seek undervalued locations on the Eastern Seaboard.
Phuket's infrastructure challenges - land scarcity, west coast congestion, need for transport improvements - are already resolved in Pattaya. U-Tapao Airport is developing, Highway No. 7 provides quick access to Bangkok, and new projects launch in areas with ready infrastructure.
For Russian-speaking buyers, Pattaya remains a more practical choice: developed Russian infrastructure, schools, medical centers, year-round rental market activity. Phuket suits premium investments and high-budget buyers, Pattaya - for those seeking optimal value-for-money with good returns.
