Phuket, long a jewel of Thailand’s tourism crown, is undergoing a transformation that extends far beyond its beaches and resorts. The island’s property market, once considered a niche for second homes and holiday rentals, has exploded into one of Asia’s hottest investment destinations. In the first half of 2025 alone, residential sales are projected to exceed THB 45 billion, a figure that rivals annual turnover in some of Southeast Asia’s mid-sized cities. What sets Phuket apart is not just the scale of its growth, but the global nature of the capital flowing in—and the way developers are reshaping their strategies to capture it.
Global Capital Meets Local Opportunity
The surge is driven largely by foreign demand, which now accounts for nearly 60% of transactions. Unlike Bangkok or Pattaya, where domestic buyers dominate, Phuket has become a truly international marketplace. Buyers range from wealthy Europeans seeking lifestyle investments to Asian high-net-worth individuals diversifying into beachfront villas, and even younger digital nomads choosing condominiums as both homes and yield-generating assets.
Condominium sales rose 201% in 2024, while villa transactions climbed 148%. Analysts note that this is not merely a recovery from the pandemic downturn but part of a structural shift: global buyers increasingly view Phuket as a credible alternative to established hubs like Hong Kong, Singapore, or Bali. Crucially, the island offers international-standard education, expanding healthcare facilities, and a lower cost of living—factors that matter to families and long-term expatriates, not just holidaymakers.
Developers Race to Capture Demand
Thai developers have moved aggressively to capitalise on this boom. Assetwise PCL has emerged as a standout, with its “The Title” brand achieving near-sold-out launches and transfer rates above 90%. From THB 4.4 billion in project value in 2011, the company has expanded nearly tenfold to THB 42.6 billion in 2025. Its strategy has been to deliver projects quickly, keep pricing competitive, and align designs with what it calls “leisure residences”—units tailored to international buyers seeking resort-style living with reliable management and amenities.
Presales hit THB 8.7 billion during the 2024–25 high season, giving the company a backlog of THB 15.8 billion stretching through 2027. Its 2025 pipeline—12.2 billion baht worth of new projects—includes everything from affordable condominiums to ultra-luxury pool villas priced north of THB 100 million. This broad portfolio reflects a deliberate hedging strategy: catering to mass-market international demand while tapping into the resilient high-net-worth segment.
Moving Beyond Property Sales: The Hospitality Play
Perhaps the most telling sign of Phuket’s evolution is developers’ shift into hospitality and lifestyle. Assetwise’s partnership with IHG Hotels & Resorts for Voco Phuket Bangtao, a 175-room hotel scheduled to open in 2027, marks its first step into recurring revenue streams. This move is strategically significant. Property sales, however lucrative, are one-off revenues vulnerable to cyclical downturns. Hotels, beach clubs, and branded residences create recurring cash flow, enhance brand equity, and reinforce customer loyalty.
The trend mirrors global real estate markets, where leading developers—from Dubai to Miami—have evolved into lifestyle conglomerates. Phuket is now witnessing the same playbook: blending residential, hospitality, and branded luxury experiences into integrated ecosystems that attract global capital.
The Infrastructure and Policy Tailwinds
Phuket’s property surge is not happening in isolation. Infrastructure upgrades—including the expansion of Phuket International Airport, new expressways connecting residential hubs to commercial zones, and the addition of international-standard healthcare facilities—are reinforcing its attractiveness. The upcoming Bumrungrad Hospital (set to open in 2027), alongside expansions of Srinakarin and Bangkok Hospital, signal a shift toward positioning Phuket as a medical and wellness hub.
Education is another pillar. The growth of international schools is catering to expatriate families relocating permanently, a demographic that values stability and long-term community roots over seasonal visits.
Policy has also played a role. Thailand’s clear foreign ownership framework, alongside progressive measures such as marriage equality legislation, has made the country a standout in the region. This clarity has encouraged diverse investor groups, from LGBTQ+ buyers to former executives of global firms like Google and Microsoft, who are seeking both lifestyle and asset diversification.
The Competitive Landscape: Oversupply vs. Premium Demand
Despite the strong fundamentals, risks loom. The mid-range condominium market may face oversupply, especially if developers overestimate demand from budget-conscious international buyers. Competition in this segment is intensifying, and not every project will sustain high transfer rates. Differentiation, brand credibility, and quality of management will become decisive factors.
At the top end, however, demand shows few signs of abating. Ultra-luxury villas, often priced between THB 25 million and THB 100 million, are being snapped up by wealthy individuals looking for secure lifestyle investments. The resilience of this segment, even amid global economic uncertainty, underscores the role of real estate as a wealth-preservation tool. For investors and developers, the message is clear: Phuket’s growth story is premium-led, and the strongest returns are likely to accrue in the branded, high-end space.
A Global Market With Local Challenges
Phuket’s transformation into a global property hub raises strategic questions. Can the island’s infrastructure keep pace with rising demand? Will sustainability and environmental pressures become limiting factors? Can developers avoid the pitfalls of over-commercialisation that have tarnished other resort markets?
Executives and investors watching Phuket’s trajectory must balance the optimism of strong fundamentals with the realism of long-term sustainability. The island’s success has been underpinned by careful policy, investor confidence, and lifestyle appeal. But sustaining this momentum will require continued investment in infrastructure, green building practices, and service quality.
Outlook: Phuket as Asia’s Next Property Powerhouse
Looking ahead, analysts expect Phuket’s property market to continue expanding through 2025 and beyond, driven by luxury villas, branded residences, and lifestyle-focused developments. Rising numbers of digital nomads and long-term expatriates are adding demand for co-living spaces and long-term rentals, diversifying the market beyond traditional holiday homes.
With a backlog exceeding THB 32 billion across its brands and plans for THB 22 billion in new launches in 2025 alone, Assetwise illustrates how domestic developers are positioning themselves for the next phase: from property sellers to lifestyle ecosystem builders.
The bigger picture is clear: Phuket is no longer a seasonal resort market. It is emerging as a global investment hub, competing directly with international real estate destinations. For investors and developers alike, the island represents both an opportunity and a test—whether a once-tourism-driven economy can mature into a sustainable, year-round property powerhouse.
Strategic takeaway: Phuket’s rise signals a broader trend in global real estate: lifestyle-driven markets are no longer peripheral, but central to capital flows. For decision-makers, the imperative is to recognise that Phuket is not just a Thai story—it is part of a larger shift where global investors are reshaping entire geographies into investment-grade assets.