Figures | Creating Resilience

Phuket Residential Figures H1 2023

August 29, 2023 10 Minute Read

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-   In H1 2023, the Phuket condominium market generated the highest number of resort units sold in a half-year period over the past decade.
-   There were five new projects launched with a total of 364 units. These projects are Kiara Reserve Residence, Angsana Oceanview Residence (Building II), Laguna Lakeside, The Aqua by Boat Pattana and The Balance by the Beach.
-   516 newly completed units came from one project, Wyndham La Vita Phuket.
-   12,475 completed units in the existing supply in H1 2023, a 4.3% H-o-H increase from 11,959 units in H2 2022. There are 5,405 units in the pipeline, which are expected to be completed within 2026. Most future projects are located on the West Coast.


-   As of H1 2023, the Phuket villa market continues to show heightened market activity, with a notable increase in newly launched projects and sales, resulting in nine sold-out projects in the first half of 2023.
-   Since the start of the Russia-Ukraine war and the return of international arrivals post-pandemic, there has been a significant increase in activity in the Phuket villa market. This is reflected in the growing number of newly launched projects and the improved sales rates attributed to the return of foreign buyers and rising demand from Thai buyers.
-   A total of 251 villas were sold in H1 2023, an increase of 50.3% H-o-H and 93.1% Y-o-Y. This is the highest number of units sold over a half-year period recorded in Phuket.
-   Twenty villa projects launched in H1 2023 with a total of 422 units, 3 projects out of 20 were launched in the Luxury segment namely Banyan Tree Grand Residences (Beach Terrace), The Laytin Villa, and Botanica Grand Avenue.