How Much Does Housing Cost in Phuket: Market Analysis from REALTING

Phuket Island in Thailand is an incredibly popular tourist destination — there is no doubt about it. The growing tourist flow to the island has led to the fact that over time the island began to attract more and more investments, which were directed not only at the construction of hotels and resorts but also at the development of housing construction.

We analyzed the ads on REALTING about the sale of residential property on the island of Phuket and are ready to tell you about the prices at which apartments and villas in the “beach capital” of Thailand will be sold at the beginning of 2025.

Secondary Property Market in Phuket

An analysis of existing property data reveals an interesting feature of the Phuket market — a significant spread of prices within each category. This is explained by differences in the location of properties (coastal areas are traditionally more expensive), the age of the buildings, and the level of maintenance of the complexes.

It is noteworthy that the average cost per square meter for apartments with different numbers of bedrooms is in a close range (3550–3670 USD/sq.m), which indicates a balanced demand for different types of housing. Villas, despite the upper price threshold comparable to premium apartments, are on average almost 40% cheaper per square meter (2290 USD/sq.m). This makes them an attractive option for investors looking for more spacious housing.

In addition to offers for the sale of existing housing, the REALTING platform presents offers for the sale of residential real estate at the construction stage.

New Building Market in Phuket 

Let’s consider what types of properties and at what cost are offered for sale on the Phuket new building market in the coming years.

New Residential Property in Phuket with a Project Delivery Date of 2025

The average cost per square meter for apartments with the nearest completion date (2025) increases by approximately 15–16%, reaching 4050–4220 USD/sq.m. This is explained not only by inflationary processes but also by increased construction quality standards, improved infrastructure, and modern planning solutions.

The minimum threshold for entry into the new buildings segment in 2025 is significantly higher than in the secondary market — the starting price per square meter of an apartment starts from USD 2210 versus USD 1250 for existing housing. At the same time, villas in new projects show a more modest increase in price — about 5% of the average cost, maintaining their investment attractiveness.

New Buildings in Phuket with the Project Completion Date of 2026

It is interesting to note that properties with a delivery date of 2026 demonstrate almost identical price indicators to new buildings of 2025. Average prices for apartments are in the range of 4100–4220 USD/sq.m, which indicates the stabilization of developers’ expectations regarding the market value of housing in the medium term.

However, the price floor for one-bedroom units in 2026 projects is lower (USD 1900/sqm vs. USD 2,210/sqm), which may indicate the emergence of more affordable projects in inland areas. This potentially expands the options for investors on a budget. Villas retain their price advantage in terms of cost per square metre, despite the high overall price of such properties.

New Buildings in Phuket with the Project Completion Date of 2027

An analysis of data on projects due for completion in 2027 reveals an unexpected trend: a decrease in average prices by approximately 10% compared to projects in 2025–2026. This may be due to several factors: a conservative assessment by developers of the long-term prospects of the market, plans to develop new, less expensive locations, and a strategy to attract investors with more attractive prices at early stages.

At the same time, the minimum prices per square meter in 2027 projects are higher than in properties with a delivery date of 2026, which may indicate a gradual departure from the market of the most affordable offers and a general increase in the quality of buildings under construction. The absence of villas in long-term projects of 2027 on the REALTING platform may indicate a reduction in supply in this segment or a shift in the focus of developers to more compact housing formats.

Conclusion

An analysis of the Phuket property market in early 2025 shows clear segmentation and diversity of investment opportunities. There is a premium of 15–16% for new builds compared to existing properties, reflecting the rising standards of quality and infrastructure of new projects.

Villas remain the most profitable segment in terms of cost per square meter (on average 40% cheaper than apartments), offering more space and private territory. It is interesting to note the decrease in average prices in projects with a long-term delivery perspective (2027), which may represent an opportunity for investors to lock in lower prices at the initial stages of construction.