Short answer: Phuket is still Thailand's second-largest housing market after Bangkok, and foreigners made up two thirds of buyers in the deals CBRE tracked. Visitors stay longer and spend more, long-haul arrivals have been rising for five weeks in a row, and finished housing is scarce: only three condominiums were completed in the first half of 2026. For buyers this is a good setup. Ready homes in strong areas hold their value and earn from day one, while the large choice of off-plan projects gives room to negotiate. Below: what is happening in the market, real examples and the rules for buying well in 2027.
Why demand for Phuket is holding up
According to Nation Thailand, Phuket's housing market is now second only to Bangkok. International buyers accounted for 67% of purchasers in CBRE's first-half 2026 transaction data, with demand focused on condominiums in Bang Tao and Cherngtalay.
Visitor numbers dipped slightly, but the money stays on the island. The C9 Hotelworks market update shows 6.13 million passenger arrivals at Phuket airport in January to September 2026 (down 2%), while tourism revenue barely moved: THB 400 billion against THB 404 billion a year earlier. The Bank of Thailand attributes this to longer average stays.
Demand is also broadening. China grew 12.9% to 501,000 arrivals in nine months, France 8.1% and India 0.3%, while Russia remains the airport's largest market with 703,200 arrivals. Nationwide, long-haul arrivals rose for a fifth straight week in late October, up 13.6% in the latest week.
For 2027 the Tourism Authority of Thailand has adopted a "Value Over Volume" strategy focused on higher-spending travellers and direct flights. Virgin Atlantic flies London Heathrow to Phuket three times a week this winter. Kuwait Airways has added direct Phuket flights with about 556 inbound seats a week, and Kuwaiti visitors to Thailand stay 13 nights on average and spend THB 96,590 per trip.
For property, that translates into demand for villas, family homes and apartments for long-term rental, the formats that longer-staying and wealthier visitors choose.
Finished homes are scarce, and that works for buyers
C9 Hotelworks counted 403 residential projects on sale in Phuket at the end of September 2026, with a combined 45,027 units, 83% of them condominiums. That is project capacity, not unsold stock: AREA's autumn survey of 806 projects put the sold share at about 85%, with roughly 19 months of remaining inventory at the current pace. The numbers are broken down in the THB 705 billion market overview.
Developers are launching actively: CBRE data show new condominium launches up 44.8% in the first half of 2026 compared with the previous six months. Completions are slow, though. Only three condominium projects with 1,196 units were finished in the half, 56.8% fewer units than in the second half of 2025.
The key takeaway: completed apartments and villas in good locations are in short supply, so they hold their prices. The Q3 2026 market report points the same way, with new sale listings down 26% and no downward pressure on ready homes. Off-plan phases, by contrast, are plentiful, which lets buyers compare and negotiate terms.
Where the supply is concentrated
| Area | Units in projects on sale | Share of island |
|---|---|---|
| Bang Tao and Cherngtalay | 17,388 | 39% |
| Rawai | 5,334 | 12% |
| Karon | 4,340 | 10% |
| Wichit | 3,007 | 7% |
| Kamala | 2,406 | 5% |
| All Phuket | 45,027 | 100% |
Source: C9 Hotelworks, September 2026.
Bang Tao and Cherngtalay remain the heart of Phuket's premium market: 145 projects, 39% of all units, half of the island's branded residences and 22% of the hotel pipeline. The reasons are clear: the beach, Laguna, international schools, restaurants and year-round demand. Kamala is strong at the top end, with 15% of branded residence units against 5% of total supply. Rawai holds 20% of the branded segment and offers the most affordable entry among the popular areas.
The wide choice in Bang Tao helps buyers: dozens of complexes can be compared on price per square metre, completion, density and monthly fees. Median prices by bedroom count are in the Bang Tao and Laguna price guide.
Ready homes cost the same as off-plan
Normally an off-plan unit is cheaper than a finished one, because the buyer waits a year or two without income. In Phuket today it is different, and that is an argument for buying ready.
| Area | Ready, THB per sqm | Under construction or off-plan, THB per sqm | Difference |
|---|---|---|---|
| Whole island | 147,000 (211) | 158,000 (219) | +8% |
| Bang Tao and Laguna | 173,000 (113) | 169,000 (100) | -3% |
| Layan | 187,000 (10) | 177,000 (17) | -6% |
| Kamala | 129,000 (22) | 156,000 (16) | +21% |
| Rawai | 127,000 (17) | 135,000 (26) | +7% |
Median asking price of apartments and penthouses; number of listings in brackets. Source: 430 sale listings in the InDreams Phuket catalogue on 9 November 2026. Samples for Layan, Kamala and Rawai are small, so treat those rows as direction rather than precise values.
Across the island, a square metre in a finished apartment is actually listed 8% lower than in an off-plan one (about USD 4,100 against USD 4,400). In Bang Tao and Layan the two are roughly level, and in Kamala ready homes are 21% cheaper. Part of the gap reflects newer projects being more often branded, with modern layouts. The practical conclusion is simple: for the same money a finished property can be let this season, while for off-plan it is worth asking for a discount or milestone payments.
Where the opportunities are: five examples from the catalogue
These are real properties for sale in the InDreams Phuket catalogue on 9 November 2026. They show what the trends above look like in actual prices. Conversion at about THB 36 per US dollar.
- A ready villa in Bang Tao to live in and let. 5-bedroom villa at Anchan Tropicana: 832 sqm, THB 70 million (about USD 1.9 million). That is roughly THB 84,000 per sqm, in line with the Bang Tao villa median. The house is finished and can be let this high season.
- A villa in Layan, one of the island's most expensive areas. 4-bedroom villa at Vichuda Hills Estate: 435 sqm, THB 75 million (about USD 2.1 million), ready. Layan tops the table above on price per square metre for finished apartments, a sign of strong demand for the area.
- A ready apartment in Laguna below the area median. 1-bedroom apartment at Allamanda 1: 82 sqm with a lake view, THB 12.5 million (about USD 347,000). That is around THB 152,000 per sqm against a median of THB 173,000 for finished apartments in Bang Tao.
- Entry from THB 5 million in Rawai. 1-bedroom apartment at Proud Rawai: 39 sqm, THB 5 million (about USD 139,000), ready. Rawai caters to people who live on the island year-round, which makes it convenient for long-term letting.
- Kamala's premium segment. 2-bedroom apartment at Andara: 183 sqm with a sea view, THB 50.85 million (about USD 1.4 million), ready. Kamala has seven times less supply than Bang Tao and holds 15% of the island's branded residences.
These are examples, not personal advice: the right property depends on budget, use (living, letting or both) and holding period. All listings by area are in Bang Tao and Laguna, Kamala and Rawai.
Infrastructure: what will add value to the island
Phase II of Phuket International Airport is meant to lift capacity from 12.5 to 18 million passengers a year by 2030; the THB 6.2 billion project awaits Cabinet approval. The 3.98 km Kathu to Patong tunnel (THB 16.8 billion) is due before the Cabinet in December 2026, and Phase 2 of the Phuket Expressway (30.6 km) has passed its environmental assessment. Both road projects target 2031 and should ease traffic across the island.
The draft Town Plan expected in 2027 would allow buildings of 45 to 60 metres instead of 23 in designated red zones of Patong and parts of Thalang, Phuket Town and Cherngtalay. For landowners in those zones that may mean higher plot values, while buyers of apartments with a view should check what can be built on neighbouring plots.
A good rule: infrastructure adds value over time, so there is no need to pay for it upfront. If a price is justified by a future tunnel or airport, check whether the project has been approved.
How to buy well: five rules
- Ready or nearly ready. At the same price, a finished property wins: income from the first season and no delay risk. If you buy off-plan, choose a developer that has delivered on time before.
- Compare with the finished neighbour. Check the price per square metre against ready units in the same area. If there is no gap, ask for a discount or milestone payments.
- Honest rental maths. Work from net income after management, maintenance, utilities and taxes, and allow two vacant months a year. That gives the real yield, not the brochure one.
- Match the area to the plan. Bang Tao and Layan offer the strongest demand and a premium audience. Rawai is cheaper to enter (a median of about THB 128,000 per sqm for apartments against THB 173,000 in Bang Tao) and suits long-term rentals. Kamala is strong in branded residences, Patong and Karon in tourist rentals.
- Clean paperwork. A lawyer should check the title deed, remaining foreign quota, land lease and company documents. Authorities scrutinised nominee structures closely in 2026, so a lawful structure matters most: see the articles on the nominee crackdown and property due diligence. A new Accommodation Law with separate licences for short-term rentals is being drafted, so base your model on long-term letting. On hillside plots, check drainage: after October's heavy rain in Patong, officials proposed watershed-based zoning for future planning.
Bottom line
Phuket's market is maturing. Demand is holding, visitors stay longer and spend more, the island is gaining direct flights and major infrastructure, and finished homes in strong areas are scarce. In 2027 buyers have more choice and more room to negotiate than in the peak years. The winners will be those who buy a finished or nearly finished property in a strong area, check the documents and run honest numbers.
The InDreams Phuket team can shortlist ready properties for your budget and plans, benchmark them against alternatives in the area and model rental income without marketing assumptions. Start with property for sale in Phuket, villas and apartments and condominiums.
Sources
- C9 Hotelworks: Phuket Property, Hospitality and Branded Residences Market Update 2026
- Nation Thailand: Phuket's property boom brings pressure on local communities, 4 November 2026
- Nation Thailand: Thailand records 25.46m arrivals as long-haul growth builds
- Bank of Thailand: Economic and Monetary Conditions for September and Q3 2026
- TAT Newsroom: TAT unveils 2027 Value Over Volume strategy at WTM London
- The Phuket News: Kuwait Airways launches direct Phuket flights
- The Phuket News: Phuket marks World Town Planning Day, 7 November 2026
