SEMI-ANNUAL HIGHLIGHTS - CONDOMINIUMS & APARTMENTS
‒ No new condominium project has been launched in Phuket for two consecutive years since the last launch in H2 2019.
‒ 209 newly completed units came from one project, namely VIP KATA Condominium phase 2.
‒ There were 3 projects from the future supply that were scheduled to be completed in H2 2021, but were delayed due to the pandemic.
‒ The 10,068 units of the existing supply in H2 2021 increased by 2.0% Y-o-Y from 9,869 units in H2 2020. There are 4,735 units in the pipeline which are expected to be completed by 2023. Most of the future projects are located in the Central West Coast and South West Coast.
SEMI-ANNUAL HIGHLIGHTS - VILLAS
– The reopening of Thailand’s border has brought positive sentiment to the Phuket villa market as demand will not only be limited to domestic market but also expand to international markets who look for relocation or retirement purposes in Phuket.
– A total of 81 villas were sold in H2 2021, increasing 32.8% H-o-H and 125.0% Y-o-Y. The figures showed that sales performance increased quarter on quarter as there were 36 units sold in Q3 2021 and 45 units sold in Q4 2021.
– The impact of the pandemic has shown clear demand from owner occupiers looking for second/resort homes with preference for larger living space and more privacy.
– Two villa projects launched in H2 2021 namely (1) The Breeze Villas and (2) Ansaya Phuket (Phase I). Both are from the Mid-range segment with a total of 16 units, adding to the total villa supply.