Phuket Apartment Research

Phuket Apartment and Condo Research: Data Source

This is an extract of the CBRE Phuket Property Report, is a quarterly subscription report. This real estate reserch report brings professional analysis and transparency to the growing Phuket property market which can, for the right projects, generate some of the highest returns in Thailand. Full Phuket Property report

Phuket apartment / condominium listings

The Phuket apartment and condominium section of the report provides detailed information and analysis from CBRE's comprehensive and unrivaled Phuket and Thailand property databases, combined with our own exhaustive market and property surveys, coupled with the latest and most reliable secondary data from governmental agencies and private operators. The reliability and value of the research is the market understanding and expert opinion drawn from over 25 years of CBRE's full-scale operations in Thailand. The data focuses specifically on the Phuket apartment and condo market - specifically focusing on apartment, and condominium information.

Phuket Apartment & Condominium Classifications

For the purposes of this real esate research report, we have combined freehold condominiums, leasehold condominiums and leasehold apartments. We classify apartments into four categories based on price per apartment. Classifications are based on the maximum number of apartments in a project that fall into a category; for example, a project with three luxury, five high-end and two midrange apartments would have all units classified as high-end, because we consider the project to be high-end, since the highest number of apartments in the project are high-end.

Luxury Above THB 35 million High End Between THB 20-35 million
Mid-range Between THB 10-20 million Entry-level Below THB 10 million

A Phuket Apartment / Condominium that is high-end and above generally demonstrates common characteristics such as:
  • Good panoramic sea view
  • Easily accessible locations
  • Good and secure neighborhoods, ensuring privacy of residents
  • Good building design, layout and decoration
  • Good standard of construction using high-quality materials and specifications
  • Comprehensive range of facilities, including swimming pool, gym, and/or squash and tennis courts, etc.
  • Adequate elevators and efficient M&E system
  • Professional management / Hotel management
  • Rental program provided
Phuket Property Areas: Definition
West Coast
Northern area along the West Coast, including Mai Khao Beach and Nai Yang Beach
West Coast
Central area along the West Coast, including Nai Thon Beach, Bang Tao Beach, Surin Beach and Kamala Beach
West Coast
Southern area along the West Coast, including Patong Beach, Karon Beach, Kata Beach, Kata Noi Beach and Nai Harn Beach
East Coast
Northern area along the East Coast, from Sarasin Bridge to Siray Island
East Coast
Southern area along the East Coast including Phuket Bay, Ao Chalong and Rawai Beaches
Inland Area in the island's center
Phuket Apartment & Condominium - Semi-Annual Highlights
  • A total of 633 condominium units were sold in H2 2017, decreasing by 26% Y-o-Y. 1,070 units were sold in the whole of 2017.
  • 75% of the total units sold were investment-oriented products that offered some form of yield guarantee and rental management.
  • Buyers at all price levels want potential rental income for property they only use less than 60 days per year.
  • Only 2 projects were launched in H2 2017: Residences at Sheraton Phuket Grand Bay and Angsana Oceanview Apartment, both Luxury projects, at more than THB 20 million per unit.
Phuket Apartment & Condominium Supply

Prior to 1990, there were almost no condominiums for sale in Phuket as the island was still relatively unknown as a resort destination. The first condominium was completed in the late 1980s in the Kalim area, but there was still virtually no activity until the development of the Allamanda project at Laguna. This report tracks the condominium market from 2004 to the present. In 2004, the base year for our analysis, the total condominium supply was estimated to be 447 units. As Phuket’s popularity increased as both a tourist and resort home destination, the condominium market grew and the total supply more than doubled to 1,322 units in 2006. From then, the total supply has continually increased from 1,322 units to more than 3,000 units in 2010.

Phuket apartment for sale

In H2 2017, the supply of completed condominium projects grew to 7,738 units, a 7% Y-o-Y growth. There are 4,690 units in the pipeline which are expected to be completed by 2022.

This is an extract of CBRE Phuket Property Report Please click for further details

We have further information on the Phuket Condo Market here

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Rathawat Kuvijitrsuwan

For information or any advice,
please contact
Rathawat KuvijitrsuwanAssociate Director of Research & Consulting

Phone: +66 2 119 2930
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Associate Director of Research & Consulting
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