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
The Phuket real estate market in 2026 is a selective market where well-located properties move while overpriced listings sit for months.
This blog post covers current housing prices in Phuket, days-on-market estimates, neighborhood trends, and what foreigners need to know before buying.
We constantly update this article with the latest data and market insights from official sources and professional research firms.
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.
Fact-checked and reviewed by our local expert
Attaya Suriyawonghae 🇹🇭
Real Estate Broker, Zest Real Estate
How's the real estate market going in Phuket in 2026?
What's the average days-on-market in Phuket in 2026?
As of early 2026, the estimated average days-on-market for residential properties in Phuket ranges from about 60 days for well-priced resale condos in popular areas like Bang Tao or Kamala to over 300 days for luxury villas in niche locations like Cape Yamu or Surin headlands.
The realistic range that covers most typical listings in Phuket falls between 90 and 180 days, though correctly priced units in high-demand zones can sell faster while overpriced properties in competitive segments may sit for six months or longer.
Compared to one or two years ago, days-on-market in Phuket has generally increased because the market shifted from a post-pandemic buying frenzy in 2023-2024 to a more selective phase in 2025-2026 where buyers have more negotiating power due to high inventory levels.
Are properties selling above or below asking in Phuket in 2026?
As of early 2026, the estimated average sale-to-asking price ratio for residential properties in Phuket sits at roughly 93% to 97%, meaning most transactions close at 3% to 7% below the initial asking price.
Based on available market data, we estimate that fewer than 10% of Phuket properties sell at or above asking price, and this happens almost exclusively for rare, well-located units with strong rental track records or walk-to-beach positions where substitutes are hard to find.
Properties most likely to see strong demand and minimal discounting in Phuket include beachfront or near-beach condos in Bang Tao, Kamala, and Surin, plus well-maintained villas with sea views in established communities like Laguna or Layan where scarcity drives competition among buyers.
By the way, you will find much more detailed data in our property pack covering the real estate market in Phuket.
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.
What kinds of residential properties can I realistically buy in Phuket?
What property types dominate in Phuket right now?
The estimated breakdown of residential property types available for sale in Phuket in 2026 is roughly 83% condominiums and 17% landed homes including villas, townhouses, and semi-detached houses.
Condominiums represent the largest share of Phuket's real estate market by a significant margin, making up over four out of every five units currently listed for sale on the island.
Condos became so prevalent in Phuket because they are the only property type foreigners can own outright in their own name under Thailand's Condominium Act, and developers responded to strong international demand by building condo-heavy projects near beaches and lifestyle areas.
If you want to know more, you should read our dedicated analyses:
- How much should you pay for a house in Phuket?
- How much should you pay for an apartment in Phuket?
- How much should you pay for a villa in Phuket?
- How much should you pay for a condo in Phuket?
- How much should you pay for lands in Phuket?
Are new builds widely available in Phuket right now?
New-build properties make up a substantial share of Phuket's residential listings, with over 10,400 new condo units launched in 2024 alone (a 148% increase from 2023) and the pipeline remaining active into 2026, though at a more moderate pace.
As of early 2026, the neighborhoods with the highest concentration of new-build developments in Phuket include the South Coast and West Coast (South) areas around Rawai and Nai Harn, plus Cherng Talay and Bang Tao on the west coast, where land availability and relatively lower entry prices have attracted developers seeking to capture both investor and end-user demand.
Get fresh and reliable information about the market in Phuket
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Which neighborhoods are improving fastest in Phuket in 2026?
Which areas in Phuket are gentrifying in 2026?
As of early 2026, the top neighborhoods in Phuket showing the clearest signs of gentrification include Cherng Talay and Bang Tao (with new beach clubs, international schools, and mixed-use developments), Rawai and Nai Harn (attracting long-stay expats and modern condo upgrades), and Phuket Old Town (seeing boutique cafes, co-working spaces, and heritage renovations transforming Talat Yai and Talat Nuea).
Visible changes indicating gentrification in these Phuket areas include the opening of premium wellness centers in Cherng Talay, new international school campuses near Laguna, the expansion of beachfront dining and lifestyle venues in Bang Tao, and the conversion of old Sino-Portuguese shophouses in Phuket Town into boutique hotels and trendy restaurants.
Price appreciation in these gentrifying Phuket neighborhoods has been estimated at 12% to 18% per year for villas in prime west coast locations like Layan and Kamala, and 7% to 10% for condominiums across Bang Tao and Cherng Talay over the past two to three years.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Phuket.
Where are infrastructure projects boosting demand in Phuket in 2026?
As of early 2026, the top areas in Phuket where major infrastructure projects are boosting housing demand include the airport corridor in Mai Khao (benefiting from the upcoming Bumrungrad Hospital and airport expansion), the Kathu-Patong corridor (where the elevated expressway and tunnel project will transform accessibility), and the north-south spine along Highway 402 that will eventually connect to the planned light rail system.
The specific infrastructure projects driving demand in Phuket include the Phase 2 expansion of Phuket International Airport (increasing capacity from 12.5 million to 18 million passengers), the Kathu-Patong Expressway with a 4-kilometer tunnel through Nak Kerd Hill, the proposed 35 billion baht light rail transit system connecting the airport to Chalong, and road upgrades along Highway 402 to reduce congestion.
The estimated timeline for completion of these major Phuket projects varies: the airport expansion is expected around 2029, the Kathu-Patong expressway targets 2028-2030, the light rail could see construction bids in 2026-2027 with full operation possibly by 2031, and the new Andaman International Airport in Phang Nga is planned for 2027-2032.
The typical price impact on nearby Phuket properties once such infrastructure projects are announced ranges from 5% to 15% appreciation, with further gains of 10% to 20% upon completion, especially for properties within walking distance of new transit stations or with significantly improved travel times to the airport or beaches.
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.
What do locals and insiders say the market feels like in Phuket?
Do people think homes are overpriced in Phuket in 2026?
As of early 2026, the general sentiment among locals and market insiders is that Phuket homes are overpriced in certain segments, particularly non-branded new-build condos that compete against many similar projects, while best-in-class beach locations and quality villas are seen as fairly valued given their scarcity.
When arguing homes are overpriced in Phuket, locals typically cite the large gap between new-build prices (averaging 140,000 to 150,000 baht per square meter in prime areas) and resale prices, plus the high number of unsold units sitting in inventory across 343 active developments.
Those who believe Phuket prices are fair point to limited prime coastal land, strong foreign demand (foreigners account for over 60% of high-end transactions), consistent rental yields of 6% to 10% for well-located properties, and the island's unique position as Southeast Asia's top resort destination with international schools and healthcare infrastructure.
The price-to-income ratio in Phuket is difficult to compare to Thai national averages because the market is primarily driven by foreign buyers and wealthy Thais rather than local end-users, making traditional affordability metrics less relevant than rental yield calculations and cross-border investment comparisons.
What are common buyer mistakes people regret in Phuket right now?
The most frequently cited buyer mistake in Phuket is purchasing a condo without first verifying the foreign ownership quota status, which leads to deals falling through at the last minute when buyers discover the building's 49% foreign quota is already full and they cannot register the unit in their name.
The second most common mistake buyers regret in Phuket is assuming that short-term rentals will be easy and profitable without understanding Thailand's Hotel Act restrictions, which technically prohibit rentals under 30 days without a hotel license, leading to unexpected legal risks and building management conflicts.
You might want to check our list of risks and pitfalls people face when buying property in Phuket.
It's because of these mistakes that we have decided to build our pack covering the property buying process in Phuket.
Get the full checklist for your due diligence in Phuket
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
How easy is it for foreigners to buy in Phuket in 2026?
Do foreigners face extra challenges in Phuket right now?
The estimated overall difficulty level for foreigners buying property in Phuket is moderate for condos (straightforward if quota is available) but high for villas and houses, which require navigating leasehold structures, company ownership, or other legal arrangements that add complexity compared to what local Thai buyers experience.
Specific legal restrictions for foreign buyers in Phuket include the prohibition on owning land directly (foreigners cannot hold freehold title to land), the 49% cap on foreign ownership within any condominium building under the Condominium Act, and requirements to bring purchase funds from abroad with proper documentation from a Thai bank (Foreign Exchange Transaction Form).
Practical challenges foreigners commonly encounter in Phuket include difficulty opening Thai bank accounts without a work permit, navigating the TM30 immigration reporting system for tenants, understanding lease renewal terms and what happens at the end of a 30-year lease, and finding reliable English-speaking lawyers who specialize in property transactions rather than general practice.
We will tell you more in our blog article about foreigner property ownership in Phuket.
Do banks lend to foreigners in Phuket in 2026?
As of early 2026, mortgage financing for foreign buyers in Phuket is available but limited, with most foreigners ending up as cash buyers because local Thai banks rarely approve mortgages for non-residents without Thai work permits or substantial local income and banking history.
For the minority of foreigners who can qualify for Thai bank mortgages in Phuket, typical loan-to-value ratios range from 50% to 70% on completed condominiums, with interest rates around 5% to 8% depending on the bank and borrower profile, which is higher than what Thai nationals typically receive.
Documentation requirements for foreign mortgage applicants in Phuket typically include proof of income from employment or business (translated and notarized), tax returns from the home country, a valid work permit or Long-Term Resident visa for Thailand, bank statements showing financial stability, and the completed property's title documents showing it qualifies for foreign ownership.
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.
How risky is buying in Phuket compared to other nearby markets?
Is Phuket more volatile than nearby places in 2026?
As of early 2026, Phuket's price volatility is estimated to be higher than Bangkok's mass-market housing (which has deep domestic demand providing stability) but lower than smaller single-industry resort towns like Koh Samui or Hua Hin, placing Phuket in a middle position among Thai property markets.
Over the past decade, Phuket has experienced more pronounced price swings than Bangkok, including sharp drops during the 2020-2021 pandemic tourism shutdown followed by a strong 12% to 18% annual recovery in prime villa areas during 2023-2024, while Bangkok's residential market showed more gradual, single-digit movements.
Factors making Phuket more volatile than neighboring markets include its heavy dependence on international tourism and flight connectivity (when tourists stop coming, rental demand and buyer sentiment drop quickly), its high proportion of discretionary second-home buyers who can delay purchases, and its exposure to global economic cycles affecting European and Russian buyer pools.
If you want to go into more details, we also have a blog article detailing the updated housing prices in Phuket.
Is Phuket resilient during downturns historically?
Phuket has shown moderate historical resilience during economic downturns, recovering relatively well after shocks once tourism flows normalize, though the initial impact of crises tends to be sharper than in diversified urban markets like Bangkok.
During the most recent major downturn (the 2020-2021 pandemic period), Phuket property prices softened by an estimated 10% to 20% depending on segment, with transaction volumes dropping dramatically, but recovery was faster than expected with prices rebounding to near pre-pandemic levels by late 2023 for prime locations.
Characteristics that contribute to Phuket's resilience include limited prime beachfront land that cannot be replicated, established international school and healthcare infrastructure attracting long-term residents, brand recognition as Asia's top island destination, and a diversified buyer base spanning Russians, Chinese, Europeans, and Australians that provides some buffer when one market weakens.
Property types and neighborhoods in Phuket that historically hold value best during downturns include well-maintained beachfront or near-beach condos in Bang Tao and Kamala, established villa communities in Laguna and Layan with strong rental track records, and rare sea-view properties with unique positioning that have few substitutes regardless of market conditions.
Get to know the market before you buy a property in Phuket
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How strong is rental demand behind the scenes in Phuket in 2026?
Is long-term rental demand growing in Phuket in 2026?
As of early 2026, long-term rental demand in Phuket is showing modest growth, concentrated in lifestyle hubs where the shift from short-stay tourism toward family residency and remote work is creating sustained tenant interest for monthly and yearly leases.
The tenant demographics driving long-term rental demand in Phuket include expat families relocating for international schools, digital nomads and remote workers seeking tropical bases, retirees drawn by healthcare and lifestyle amenities, and business owners running tourism-related enterprises who need stable housing near their operations.
Neighborhoods in Phuket with the strongest long-term rental demand right now include Cherng Talay and Bang Tao (popular with families near international schools and beach clubs), Rawai and Nai Harn (favored by long-stay expats seeking community and convenience), Kathu (practical for those working across the island), and Phuket Town fringes (offering services and authentic Thai living).
You might want to check our latest analysis about rental yields in Phuket.
Is short-term rental demand growing in Phuket in 2026?
Thailand's Hotel Act technically requires a hotel license for rentals under 30 days, which means most Airbnb-style short-term rentals in Phuket condos and villas operate in a legal grey area, and enforcement has intensified since 2023 with authorities targeting unlicensed operations in tourist hotspots.
As of early 2026, short-term rental demand in Phuket is growing modestly in line with tourism recovery, with the island welcoming over 4 million international tourists in 2025 (reaching 97.5% of pre-pandemic levels), though this demand is increasingly channeled toward licensed properties and longer minimum stays.
The current estimated average occupancy rate for well-managed short-term rentals in Phuket ranges from 60% to 80% annually, with higher rates during the November to February high season and significant drop-offs during the May to October low season when monsoon weather reduces visitor numbers.
Guest demographics driving short-term rental demand in Phuket include Russian tourists (now the leading source market for Phuket specifically), European visitors escaping winter, Chinese travelers gradually returning, Australian holidaymakers, and digital nomads seeking month-long stays that technically qualify as long-term rentals under Thai law.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Phuket.
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.
What are the realistic short-term and long-term projections for Phuket in 2026?
What's the 12-month outlook for demand in Phuket in 2026?
As of early 2026, the estimated 12-month demand outlook for residential property in Phuket is stable-to-selective, meaning well-located and correctly priced properties should continue to find buyers while overpriced or poorly differentiated units will sit and require discounting.
Key economic and political factors most likely to influence Phuket property demand over the next 12 months include Thailand's tourism recovery trajectory (with the Tourism Authority targeting 35 million visitors in 2026), geopolitical stability affecting Russian and Chinese buyer flows, interest rate movements in major source markets, and any changes to Thailand's visa policies for long-stay residents.
The forecasted price movement for Phuket over the next 12 months is estimated at 2% to 7% overall appreciation, with luxury villas potentially outperforming at 5% to 10% due to land scarcity, while commoditized condo segments may see flat to modest growth given high inventory levels.
By the way, we also have an update regarding price forecasts in Thailand.
What's the 3-5 year outlook for housing in Phuket in 2026?
As of early 2026, the estimated 3-5 year outlook for housing prices and demand in Phuket is positive but uneven, with best-located neighborhoods expected to see cumulative appreciation of 25% to 50% while commodity-style developments may underperform due to structural oversupply.
Major development projects expected to shape Phuket over the next 3-5 years include the Phuket International Airport Phase 2 expansion (operational by 2029), the Kathu-Patong Expressway with tunnel (targeting 2028-2030), the potential light rail system (if construction proceeds as planned), Bumrungrad International Hospital opening in Mai Khao (2026-2027), and the proposed Ao Por mega entertainment complex including marina and potentially casino facilities.
The supply pipeline expected in Phuket over the next 3-5 years includes continued condo development in the South Coast and West Coast (South) areas at lower price points, selective luxury villa projects in land-constrained prime locations, and branded residence developments attached to hotel operators seeking to capture lifestyle-focused long-stay demand.
The single biggest uncertainty that could alter Phuket's 3-5 year outlook is the trajectory of international tourism and specifically whether Chinese visitor numbers (historically a major buyer segment) recover to pre-pandemic levels or remain depressed due to economic conditions in China and changing travel preferences.
Are demographics or other trends pushing prices up in Phuket in 2026?
As of early 2026, demographic trends are having a meaningful impact on Phuket housing prices, with the island experiencing net positive migration of families, retirees, and remote workers who are shifting demand from short-stay tourism toward permanent or semi-permanent residence.
The specific demographic shifts most affecting Phuket prices include the growth of international school enrollment (driving family relocation to Cherng Talay and Laguna areas), the expansion of the digital nomad community seeking lifestyle-friendly bases, and an aging but affluent European retiree population attracted by healthcare access and cost of living advantages.
Non-demographic trends also pushing Phuket prices include the scarcity of prime beachfront and sea-view land as the island becomes more developed, the premiumization of product offerings with branded residences attached to hotel operators, and sustained flight connectivity improvements making Phuket more accessible to long-haul travelers from Europe and the Middle East.
These demographic and trend-driven price pressures in Phuket are expected to continue for at least the next 5-10 years, as the island's infrastructure (international schools, hospitals, lifestyle amenities) becomes increasingly sophisticated and its reputation as a long-stay destination rather than just a holiday spot solidifies among global buyers.
What scenario would cause a downturn in Phuket in 2026?
As of early 2026, the most likely scenario that could trigger a housing downturn in Phuket is a sustained drop in international tourism combined with continued oversupply pressure, for example if geopolitical tensions disrupt Russian arrivals, Chinese tourism fails to recover, and developers continue launching new projects into weakening demand.
Early warning signs that would indicate a downturn beginning in Phuket include a sharp decline in Phuket International Airport passenger arrivals (below 10 million annually), rising vacancy rates in condo buildings beyond 30%, significant discounting by developers offering 20%+ off list prices, and a notable increase in distressed sales or foreclosure listings from overextended owners.
Based on historical patterns, a potential Phuket downturn could realistically see price declines of 15% to 25% from peak levels over a 2-3 year period, similar to the pandemic-era correction, with recovery taking another 2-3 years once tourism flows normalize and buyer confidence returns.
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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 |
|---|---|---|
| Bank of Thailand - Residential Property Price Index | Thailand's central bank publishing an official, regularly updated housing price index. | We used it to anchor Thailand-wide price momentum and volatility benchmarks. We then adjusted the interpretation for Phuket because Phuket is more tourism- and foreign-buyer-driven than the national average. |
| C9 Hotelworks - Phuket Property Market Update | A specialist hospitality-and-property research firm widely cited in Thailand tourism markets. | We used it to quantify active supply (units, projects, condo vs landed share) and interpret market competitiveness. We also used it to support the selective market conditions going into early 2026. |
| Knight Frank Thailand - Phuket Villa & Condominium Market | Knight Frank is a global real estate consultancy with established research processes. | We used it for Phuket-specific segmentation covering west-coast zones, product types, and buyer hotspots. We used it to validate neighborhood-level demand clustering rather than relying on anecdotes. |
| CBRE Thailand - Phuket Overall Figures H1 2025 | CBRE is a major global brokerage and research firm with consistent market reporting. | We used it to triangulate demand drivers via airport passenger arrivals and macro tourism signals. We used it to connect real economy and tourism flow to housing absorption in Phuket. |
| Real Estate Information Center (REIC) | The core official housing-market data hub tied to Thailand's Government Housing Bank. | We used it as the official baseline for Thailand housing transfers and market conditions. We also used it to cross-check claims found in media and private reports. |
| Siam Legal - Condominium Act | A structured law-library presentation of the relevant Condominium Act ownership provisions. | We used it to cite the practical legal constraint foreigners must obey (the 49% foreign quota). We used it to keep the foreigner buying section precise and not hearsay-based. |
| Airports of Thailand - Air Transport Statistics | The state enterprise publishing official airport traffic statistics. | We used it to ground Phuket's demand outlook in real passenger volumes (a key driver for rentals and second homes). We used it to sanity-check private-sector tourism summaries. |
| NESDC - Thai Economic Report | NESDC is Thailand's official macroeconomic planning agency. | We used it to frame 2026 macro risks covering growth, confidence, and household balance sheets. We used it to stress-test potential downturn scenarios for Phuket property. |