Quick answer: Developer AssetWise has reported Phuket condo sales for Q1 2026: +21% year-on-year during the high season. It is a local but telling signal — while Thailand's housing market is heading toward a 20-year low in new launches, selected Phuket projects are posting double-digit growth.
What the AssetWise report showed
AssetWise is a public Thai developer (ticker ASW on SET), actively working in Phuket's premium condo segment. According to The Nation Thailand, the company's island sales in Q1 2026 rose 21% year-on-year. The growth was recorded during the high season — traditionally a strong period for foreign demand.
- +21% YoY is a comparison against Q1 2025, which was itself a strong quarter.
- The main driver is foreign buyers paying in US dollars and yuan, not Thai baht via mortgage.
- The developer is focused on condo projects in Bang Tao, Cherngtalay and Surin.
Context: Phuket vs Thailand
The +21% figure becomes truly interesting against the national backdrop. According to the AREA forecast, the total number of new residential units in Thailand in 2026 will drop to around 17,000 — a 20-year low. Greater Bangkok is sharply slowing launches, banks have tightened mortgages, and developers are focused on selling off accumulated stock.
Against this backdrop, Phuket is a regional anomaly. We assembled a detailed analysis of why the island is growing while the country falls in our pillar piece on the Phuket market paradox 2026.
Why the developer is growing in a falling market
Three factors allowed AssetWise to deliver double-digit growth amid the national slowdown:
- Foreign demand. Buyers do not depend on Thai banks or interest rates — payments are wired in from abroad.
- Premium segment. Tickets above 8–10 million baht in beachfront and golf locations, where supply is physically constrained.
- Finished product. AssetWise offers completed or near-completion projects — at a moment when buyers do not want to wait 3–4 years and carry off-plan risk.
Regulation is moving in the investor's favour too: the draft Foreign Land Ownership Act is being debated in parallel, and the Investment Visa from 3 million baht is already in force. Both processes increase Phuket's long-term attractiveness to foreign buyers.
What this means for buyers and investors
If you want to pick a specific property for your budget and goal, see our catalogue: buy property in Phuket. For the step-by-step purchase process for foreigners, we have a dedicated guide.
Sources
- The Nation Thailand — AssetWise Phuket Q1 sales +21%
- The Nation Thailand — Property market downturn / AREA forecast 2026
- MORE Group — Phuket Property Market Outlook 2026
This material is informational and is not legal or investment advice. All figures are as of the source publication date.
