Authored by the expert who managed and guided the team behind the Thailand Property Pack
Yes, the analysis of Phuket's property market is included in our pack
Wondering if January 2026 is a good time to buy property in Phuket? You're in the right place.
We've dug into the latest data on Phuket housing prices, rental yields, supply levels, and economic indicators to give you an honest, data-backed answer.
This article is constantly updated to reflect the most recent market conditions in Phuket.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Phuket.
So, is now a good time?
Rather yes, January 2026 is a reasonable time to buy property in Phuket if you're focused on rental income and long-term value, but it's not the moment for quick flips or speculative bets.
The strongest signal is that Phuket rental yields remain among the highest in Asia, with condos delivering 5 to 8% net annually and well-managed villas reaching 8 to 15%, which means your investment can actually pay for itself over time.
Another strong signal is that financing conditions are supportive, with Thailand's policy rate at 1.25% and temporary LTV relaxation to 100% still in effect, which reduces the risk of a forced-selling crash.
Supply is high (over 40,000 units for sale), but prime locations like Bang Tao, Cherngtalay, and Rawai continue to see strong demand from foreign buyers and long-stay residents, meaning location selection will determine your success.
The best strategy in Phuket right now is to buy a well-located, rental-ready condo or villa in a prime lifestyle hub, focus on long-term rental income rather than quick resale, and prioritize good management and legal clarity over chasing the lowest price.
This is not financial or investment advice, we don't know your personal situation, and you should always do your own research before making any property purchase decision.
Fact-checked and reviewed by our local expert
Attaya Suriyawonghae 🇹🇭
Real Estate Broker, Zest Real Estate
Is it smart to buy now in Phuket, or should I wait as of 2026?
Do real estate prices look too high in Phuket as of 2026?
As of early 2026, Phuket property prices are elevated compared to local Thai incomes, but they're not in bubble territory when you look at what rents can actually support, with median condo prices around 144,000 baht per square meter and yields still reaching 5 to 10% in prime areas.
One clear signal that prices aren't wildly stretched is that older, undifferentiated condos are showing price pressure and longer time on market, while prime, rental-ready properties in Bang Tao, Rawai, and Kamala are still trading without major discounts.
Another telling indicator is the primary-to-secondary price gap reported by property consultants, where resale units often trade at a meaningful discount to new launches, which suggests buyers have options and sellers can't overprice for long.
You can also read our latest update regarding the housing prices in Phuket.
Does a property price drop look likely in Phuket as of 2026?
As of early 2026, the likelihood of a sharp, island-wide price crash in Phuket is low, but selective discounting on older condos and weak-USP projects looks quite plausible given the high inventory levels.
Looking at realistic scenarios, we estimate Phuket property prices could move anywhere from a 5% decline in oversupplied segments to a 7% gain in prime areas over the next 12 months, with the outcome depending heavily on location and property quality.
The single biggest macro risk that could push prices down in Phuket would be a sharp slowdown in Thailand's economy (the IMF forecasts just 1.6% GDP growth for 2026) or a drop in tourism arrivals, since Phuket's property market is unusually tied to visitor flows and foreign buyer sentiment.
However, this risk is partially cushioned by the Bank of Thailand's supportive policies, including the rate cut to 1.25% in late 2025 and temporary LTV relaxation to 100%, which reduce the chances of forced selling and credit-driven stress.
Finally, please note that we cover the price trends for next year in our pack about the property market in Phuket.
Could property prices jump again in Phuket as of 2026?
As of early 2026, the likelihood of a renewed price surge in Phuket is medium in select submarkets, particularly for luxury villas and branded residences in prime west coast locations where land is genuinely scarce.
For the best-positioned properties, we could see price gains in the 7 to 15% range over the next 12 months, especially in areas like Bang Tao, Layan, and Kamala where limited supply meets sustained international demand.
The single biggest trigger that could drive prices higher would be continued strong foreign buyer demand, particularly from Russia, Europe, and China, combined with any progress on Thailand's proposed 99-year lease extension, which would unlock significant new capital flows into the market.
Please also note that we regularly publish and update real estate price forecasts for Phuket here.
Are we in a buyer or a seller market in Phuket as of 2026?
As of early 2026, Phuket is slightly buyer-leaning overall, particularly for condos where inventory is high, but it feels closer to balanced or even seller-favoring for well-located villas and branded residences in prime lifestyle zones.
With over 40,000 units actively for sale across 343 developments (according to C9 Hotelworks), the condo segment in particular has plenty of supply, which typically translates to 12 to 18 months of inventory in normal absorption conditions, meaning buyers have time and options.
The share of listings with price reductions isn't tracked publicly in Phuket like it is in Western markets, but agents report that older projects and resale units are increasingly offering discounts, freebies, or flexible payment plans to compete, a clear sign that sellers in the commodity segment don't have much leverage.
We have made this infographic to give you a quick and clear snapshot of the property market in Thailand. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Are homes overpriced, or fairly priced in Phuket as of 2026?
Are homes overpriced versus rents or versus incomes in Phuket as of 2026?
As of early 2026, Phuket homes are fairly priced when measured against rental income (yields of 5 to 10% are solid by global standards), but they look expensive when compared to local Thai household incomes, since the market is primarily driven by foreign and Bangkok-based buyers.
The price-to-rent ratio in Phuket's prime areas works out to roughly 14 to 20 years of rent to equal the purchase price, which is actually reasonable compared to a typical "balanced market" benchmark of 15 to 20 years, meaning prices aren't completely disconnected from rental reality.
However, the price-to-income multiple for local Thai buyers is very high, since median condo prices of around 5 million baht in prime areas represent 10 or more years of average Thai household income, which explains why the market depends so heavily on foreign purchasers and wealthy Thais from Bangkok.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Phuket.
Are home prices above the long-term average in Phuket as of 2026?
As of early 2026, Phuket property prices are above their pre-pandemic averages, but the growth pattern has been gradual and demand-driven rather than speculative, with condos up around 7 to 10% and villas up 12 to 18% over the past year depending on location.
The recent 12-month price growth in Phuket has been stronger than the national Thai average, with prime areas like Bang Tao seeing 8% or more gains, which is faster than the pre-pandemic pace but still below the kind of explosive appreciation you'd see in an overheating market.
When you adjust for inflation (Thailand's has been low, around 0.5% in 2025), Phuket's real price gains are genuine, and in the villa segment especially, current prices may exceed previous peaks in some submarkets, though this reflects genuine scarcity of prime land rather than speculative excess.
Get fresh and reliable information about the market in Phuket
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What local changes could move prices in Phuket as of 2026?
Are big infrastructure projects coming to Phuket as of 2026?
As of early 2026, the biggest infrastructure project with real price impact potential in Phuket is the airport expansion from 12.5 million to 18 million passenger capacity, which will support sustained tourism growth and make the island more accessible to long-stay buyers and renters.
The airport expansion has government approval and construction is expected to progress through 2026 and beyond, while the Kathu-Patong Expressway (including a tunnel) received cabinet approval in August 2025 and aims to dramatically cut travel times to Patong, though full delivery is years away.
For the latest updates on the local projects, you can read our property market analysis about Phuket here.
Are zoning or building rules changing in Phuket as of 2026?
The most important zoning discussion in Phuket concerns environmental protection rules that limit building heights and density in coastal and hillside areas, which effectively caps future supply in the most desirable west coast locations.
As of early 2026, the net effect of Phuket's existing zoning rules is to support prices in prime areas by constraining new supply, though any loosening of these rules could increase competition and moderate price growth in currently protected zones.
The areas most affected by building restrictions in Phuket are the hillside and view corridors around Kamala, Patong, Karon, and Kata, where environmental zoning determines whether new developments can be built at all.
Are foreign-buyer or mortgage rules changing in Phuket as of 2026?
As of early 2026, the direction of mortgage rules in Thailand has been supportive, with the Bank of Thailand temporarily relaxing LTV limits to 100% through mid-2026 and cutting rates to 1.25%, which helps Thai buyers and supports overall market absorption.
On the foreign-buyer side, the most discussed potential change is an extension of leasehold terms from 30 to 99 years, which has strong industry support but was shelved by the government in September 2025, so it remains "policy hope" rather than certain catalyst for now.
For foreigners buying condos, the existing rules allowing freehold ownership within the 49% foreign quota remain unchanged, and programs like the Long-Term Resident (LTR) visa continue to attract remote workers, retirees, and high-net-worth buyers to Phuket without requiring any new legislation.
You can also read our latest update about mortgage and interest rates in Thailand.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Thailand versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
Will it be easy to find tenants in Phuket as of 2026?
Is the renter pool growing faster than new supply in Phuket as of 2026?
As of early 2026, renter demand in Phuket's prime lifestyle areas is growing steadily thanks to tourism recovery, remote worker migration, and family relocations, but supply is also substantial, so success depends heavily on picking the right micro-location and property type.
The clearest demand signal is the continued influx of foreign long-stay residents, with strong arrivals from Russia, Europe, and increasingly families seeking to settle near Phuket's international schools, a trend supported by Thailand's LTR visa program and improved lifestyle infrastructure.
On the supply side, C9 Hotelworks reports over 40,000 units for sale and strong developer activity, especially in the condo segment, which means generic units in secondary locations face real competition while well-designed properties in Bang Tao, Rawai, or Chalong can still find tenants quickly.
Are days-on-market for rentals falling in Phuket as of 2026?
As of early 2026, days-on-market for rentals in Phuket varies dramatically by quality and location, with well-designed 1-bedroom condos and rental-ready villas in prime hubs like Cherngtalay or Rawai leasing within days to weeks, while average units can sit for months.
The gap between best areas and weaker areas is significant: properties near beaches, international schools, and lifestyle amenities in Bang Tao, Kamala, or Chalong rent much faster than units in secondary inland locations or poorly managed buildings.
A common reason rentals move faster in Phuket's prime zones is the combination of high-season tourist demand (November through April) and year-round expat demand in lifestyle hubs, which creates multiple renter pools competing for the same well-located properties.
Are vacancies dropping in the best areas of Phuket as of 2026?
As of early 2026, vacancy trends in Phuket's best-performing rental areas like Bang Tao, Cherngtalay, Rawai, and Kamala are stable to slightly improving, with well-managed properties in these zones reporting occupancy rates around 70 to 80% and premium units doing even better.
In these top areas, vacancy rates for quality rental-ready properties are meaningfully lower than the island-wide average, because demand concentrates around beaches, lifestyle amenities, and international schools, while secondary locations compete harder for a smaller renter pool.
A practical sign that the best areas are tightening is that landlords of prime properties are increasingly able to raise rents without losing tenants, and professionally managed buildings near Laguna Phuket report waiting lists during peak season, something you don't see in weaker submarkets.
By the way, we've written a blog article detailing what are the current rent levels in Phuket.
Buying real estate in Phuket can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
Am I buying into a tightening market in Phuket as of 2026?
Is for-sale inventory shrinking in Phuket as of 2026?
As of early 2026, for-sale inventory in Phuket is not shrinking but rather staying high and competitive, with over 40,000 units actively for sale according to C9 Hotelworks, meaning buyers have plenty of options especially in the condo segment.
This level of supply suggests Phuket has somewhere around 12 to 24 months of inventory depending on how you measure absorption, which is well above the 6-month level that typically defines a tight "seller's market" and confirms that buyers have negotiating room.
Are homes selling faster in Phuket as of 2026?
As of early 2026, selling speed in Phuket is mixed: branded residences and prime-location villas are moving reasonably fast, while generic condos and older resale stock are taking longer, reflecting a market that rewards differentiation.
Year-over-year, there's no clear trend of homes selling faster across the board in Phuket, since the surge in new supply (Knight Frank reported over 10,400 condo units launched in 2024 alone) has kept competition high and given buyers time to be selective.
Are new listings slowing down in Phuket as of 2026?
As of early 2026, new listing activity in Phuket is not slowing down significantly, as major Bangkok developers continue launching projects and resale inventory grows, though the focus is shifting toward more targeted buyer segments rather than mass-market launches.
Phuket's seasonal pattern typically sees more listing activity in the high season (November through April) when buyers are on the island, but current levels don't appear unusually low since developer confidence remains strong in the lifestyle and investment segments.
Is new construction failing to keep up in Phuket as of 2026?
As of early 2026, new construction in Phuket is generally keeping up with and even exceeding demand in the condo segment, where oversupply concerns exist, but there's a genuine shortage of high-quality, rental-ready villas and well-managed family homes in prime lifestyle areas.
The recent trend shows strong developer activity, with over 10,400 condo units launched in 2024 and continued launches into 2025-2026, which suggests the bottleneck in Phuket isn't overall housing quantity but rather the right kind of housing in the right locations.
The biggest constraint on "quality supply" in Phuket is buildable land in prime west coast locations, where environmental zoning and topography limit what can actually be developed, creating genuine scarcity for sea-view villas and beachfront properties even as generic condo supply grows.
We made this infographic to show you how property prices in Thailand compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Will it be easy to sell later in Phuket as of 2026?
Is resale liquidity strong enough in Phuket as of 2026?
As of early 2026, resale liquidity in Phuket is decent for prime-location properties that are rental-ready and realistically priced, but it's notably weaker for generic condos and older stock that must compete with both new launches and cheaper resale alternatives.
For well-located properties in Bang Tao, Rawai, or Kamala, realistic selling times might range from 3 to 9 months if priced correctly, which is acceptable by resort market standards, while commodity condos in secondary areas can take 12 months or more.
The property characteristic that most improves resale liquidity in Phuket is demonstrable rental income history, since buyers increasingly want to see that a property can actually generate the yields being promised, making rental-ready units with good management far easier to exit than vacant speculation plays.
Is selling time getting longer in Phuket as of 2026?
As of early 2026, selling time in Phuket appears to be stretching for average properties as inventory remains high, though standout assets in prime locations can still transact within reasonable timeframes when priced appropriately.
Current median days-on-market in Phuket isn't officially tracked, but based on agent feedback and listing patterns, a realistic range is 4 to 12 months for most resale properties, with well-located villas sometimes moving faster and generic condos often taking longer.
The clearest reason selling time can lengthen in Phuket is that buyers have abundant choice given the high inventory levels, so any property that isn't differentiated by location, rental track record, or price competitiveness will simply sit until the seller becomes more realistic.
Is it realistic to exit with profit in Phuket as of 2026?
As of early 2026, the likelihood of exiting with profit in Phuket is medium to high if you hold for at least 5 to 7 years and focus on rental income as part of your total return, but it's low for short-term flips given transaction costs and current market conditions.
The minimum holding period that typically makes profit realistic in Phuket is around 5 years, since you need time for capital appreciation to overcome transaction costs and for rental income to compound, though some prime villa purchases have delivered faster returns.
Total round-trip costs for buying and selling property in Phuket typically run 8 to 12% of the property value (including transfer fees, agent commissions, taxes, and legal costs), which works out to roughly 400,000 to 600,000 baht on a 5 million baht condo (about 11,000 to 17,000 USD or 10,000 to 15,500 EUR).
The single factor that most increases profit odds in Phuket is buying a property with strong, demonstrated rental income potential in a prime location, since both capital appreciation and holding-period returns tend to be better for assets that actually generate cash flow.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Phuket, we always rely on the strongest methodology we can, and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| C9 Hotelworks | Long-running Thailand hospitality and property research firm with transparent market data. | We used their Phuket market reports to size active inventory, understand the condo vs villa split, and benchmark prices and rents by submarket. We also relied on their supply composition data to assess market balance. |
| Knight Frank Thailand | Major global property consultancy with consistent quarterly reporting on Thai markets. | We used their Phuket Residential Market Review for independent price and yield cross-checks. We also referenced their launch data to understand new supply dynamics. |
| Bank of Thailand | Thailand's central bank providing official economic forecasts and housing price indices. | We used their economic outlook to frame macro demand factors and their residential price index as a national anchor for Phuket price comparisons. |
| Reuters | Top-tier international wire service with verified policy reporting. | We used their coverage of Bank of Thailand rate cuts and LTV policy changes to understand financing conditions heading into 2026. |
| International Monetary Fund | Leading global institution for macroeconomic forecasts and country assessments. | We used their Thailand GDP growth projections to assess economic headwinds and demand risks for the property market. |
| Asian Development Bank | Multilateral development bank with rigorous regional economic analysis. | We used their Thailand economic outlook to cross-check growth forecasts and inflation expectations. |
| National Statistical Office Thailand | Official Thai government statistics agency providing household income and expenditure surveys. | We used their data to ground affordability discussions and understand why Phuket's market depends on foreign buyers rather than local incomes. |
| Thailand PRD | Thai government communications channel publishing official project announcements. | We used their airport expansion announcements to identify concrete infrastructure tailwinds for Phuket property values. |
| EXAT | Expressway Authority of Thailand providing official project documentation. | We used their Kathu-Patong Expressway project information to assess infrastructure delivery probability and timeline. |
| ONEP | Thailand's environmental regulator with authoritative zoning policy references. | We used their environmental protection area announcements to explain why buildability constraints support prices in prime Phuket locations. |
| Thailand BOI LTR Program | Official Thai investment agency site for the Long-Term Resident visa program. | We used this to explain why Phuket attracts long-stay demand beyond tourism, supporting rental depth in lifestyle hubs. |
| Bangkok Post | Major Thai national newspaper with detailed property and business coverage. | We used their reporting on rental yields and infrastructure plans to supplement primary data sources. |
| Global Property Guide | International property research platform tracking yields across markets. | We used their Thailand rental yield data to benchmark Phuket returns against regional comparisons. |
| Nation Thailand | Major Thai news outlet covering economic policy and property market developments. | We used their coverage of proposed foreign ownership changes and economic forecasts to assess policy risks and opportunities. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Thailand. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.