Phuket has seen a surge in villa sales

Phuket has seen a surge in villa sales, which is confirmed by data from the Real Estate Information Center (REIC). In the first six months of 2024, the supply on the villa market on the island reached 2,261 units, while a year ago it was 1,288 units. This growth is accompanied by a significant increase in the number of transactions: 787 villas were sold with a total value of about 30 billion baht (about $893 million). For comparison, 403 transactions worth 17.9 billion baht ($535 million) were concluded during the same period in 2023.

However, despite the active sales, at the end of the first half of 2024, there were still 1,474 unrealized villas on the market, which is a record figure. Thus, buyers have access to the widest range of villas in the entire history of sales in Phuket.

Demand for villas continues to exceed supply, and REIC analysts emphasize that if new projects do not appear in the near future, the remaining villas on the market will be sold out within six months. The areas of Tepkrasattri-Srisunton attracted the greatest interest of buyers, where 411 deals were concluded, Bang Tao and Surin beaches with 131 deals, as well as Nai Yang and Mai Khao beaches, which accounted for 102 deals. In other areas, from 3 to 30 purchases were recorded.

The greatest demand is noted in the segment of villas worth from 30 to 50 million baht ($894-1450 thousand), which accounted for 216 transactions. The next most popular villas were those with prices from 25 to 30 million baht ($745-894 thousand), 136 deals were concluded in this segment. The segment from 20 to 25 million baht ($596-745 thousand) also attracted attention, with the number of sales in 109 transactions.