Phuket luxury property market draws foreign buyers, plus more headlines

For PropertyGuru’s real estate news roundup, Phuket’s luxury property market is soaring to unprecedented heights, with most of the buyers from overseas. In other headlines, Cambodia’s international trade in 2024 marked a nearly 20 percent increase compared to 2023. Lastly, the increasing adoption of artificial intelligence in the Philippines is driving demand for data centres.

Foreigners keen on Phuket luxury options

Phuket’s luxury property market is soaring to unprecedented heights, emerging as a top trend for 2025. The surge started in 2022 and reached new peaks last year, showing no signs of slowing. Pasu Liptapanlop, executive director of SET-listed developer Proud Real Estate, said the Phuket property market, particularly the upper-end segment, remains robust, with demand growing. “Supply is substantial and so is demand,” he said in the Bangkok Post. “Around 60-70 percent of buyers are from overseas, including Russia, Israel and the Middle East, while 30-40 percent are local buyers, comprising residents from Bangkok and expats in Phuket.”

Cambodia’s international trade volume sees 20 percent year-on-year increase

According to The Phnom Penh Post, Cambodia’s international trade 2024 reached a total value of nearly USD55 billion, marking a nearly 20 percent increase compared to 2023. Despite this growth, the Kingdom’s trade balance remained in deficit, at close to USD2.4 billion, as reported by the General Department of Customs and Excise (GDCE). Data showed that during 2024, Cambodia’s total imports and exports amounted to USD54.74 billion, an increase of 16.9 percent over the USD46.83 billion measured in the year prior. Exports were valued at USD26.2 billion, up 15.7 percent, while imports reached USD28.54 billion, an increase of 18 percent. Cambodia’s top five trading partners were China, the US, Vietnam, Thailand, and Japan.

AI adoption fuels demand for data centres in the Philippines — Leechiu

The increasing adoption of artificial intelligence (AI) is driving demand for data centres in the Philippines, which could, in turn, spur growth in the country’s property sector, according to Leechiu Property Consultants (LPC). “Although we’re seeing a resurgence of the tourism (industry), because of the sluggishness of the office and residential sectors, (data centres are) one part of the property sector that can push for new development, new markets,” LPC Director for Research and Consultancy Roy Amado L. Golez, Jr. told BusinessWorld.

The Property Report editors wrote this article. For more information, email: [email protected].