10.07.2024

Property Prices in Phuket in 2024

Thailand holds a significant place in the Asian economy, offering substantial prospects for investors, particularly in real estate. Phuket is especially known as a hub for foreign investments due to its scenic beaches, tropical climate, and low living costs.

Real Estate Prices in Different Areas of Phuket.

Investing in Phuket Real Estate: Key Areas and Prices

Bang Tao and Laguna Phuket

This area is renowned for its luxury resorts and high-quality infrastructure. Condominium prices range from $130,000 to $2,500,000, depending on location, size, and views. Villas range from $700,000 to $10,000,000. Bang Tao beach and its central area, Laguna, offer various amenities, including golf courses, lakes with boat rides, restaurants, and spa complexes.

Kamala

This district and its namesake beach are famous for housing the summer residence of the King of Thailand. The southern part of Kamala features expensive private villas known as the "Millionaire Mile." The northern part of the beach is being developed into an elite area called MontAzure. Condominium prices here range from $120,000 to $500,000.

Kata-Karon

Situated on the southwest coast of Phuket, this area attracts tourists with its stunning landscapes and beaches. The beach infrastructure includes numerous restaurants, some offering Russian cuisine. Kata-Karon is in constant demand among Russian tourists. Condominium prices range from $90,000 to $250,000, while villas range from $550,000 to $1,800,000.

Rawai

Located on the southern coast, this area boasts well-developed infrastructure. It's popular among locals and expats for its combination of developed amenities and excellent beach experiences, especially at Nai Harn beach. Condominium prices range from $90,000 to $550,000, and villas from $280,000 to $800,000.

Nai Yang

This beach is situated in the north of Phuket within the Sirinat National Park, known for its mangrove forests. The area predominantly features villas and condominiums, with local markets and cafes. Condominium prices start at $100,000, and villas at $270,000.

Chalong

Located on the east coast, Chalong is known for its developed infrastructure, including international schools, hospitals, sports centers, and kindergartens. Although not suitable for beach activities due to its rocky shore, it's popular for diving. Villa prices in Chalong start at $250,000.

Factors Influencing Real Estate Prices:

  • Limited Land Resources
    Phuket is an island with limited land available for development, with only 15% officially permitted for construction, driving up property prices.
  • Foreign Investments
    Ongoing interest from foreign investors contributes to rising prices
  • Tourist Attraction
    Properties in prime tourist locations are more expensive.
  • Stable Thai Economy
    A stable economy attracts investors, boosting real estate prices.
In the foreseeable future, Phuket's property prices are expected to continue rising, making it an attractive investment destination. Buying property now can yield significant returns, especially with the anticipated growth in tourism and infrastructure development.