Phuket property prices set to rival Bangkok and global cities by 2026

Megaprojects fuel nearly THB470-billion investment surge, driving property values to world-class levels

Phuket is accelerating its transformation into a global city, with property prices expected to reach levels comparable to Bangkok and other leading international metropolises by 2026, according to a new analysis from Colliers Thailand.

Driven by a wave of public and private megaprojects, including the ICONSIAM Phuket development and branded residences, the island is positioning itself as an international economic hub of the Andaman region. The surge in investment reflects strong confidence from both domestic and foreign investors in Phuket’s real estate potential.

Over the past five years (2021–2025), Phuket recorded 45,066 newly launched residential units with a total investment value of THB469.72 billion (USD13 billion), Colliers Thailand reports. At the end of 2025 alone, more than 72 new condominium, housing, and holiday home projects were launched, representing over 10,312 units and a combined investment exceeding THB81.64 billion.

Colliers Thailand also reports that some major developers fully sold out their condominium and holiday home projects within a short period, while others achieved 50–70% sales in less than one month after launch. The swift response underscores robust demand from Thai buyers and international investors, particularly from Russia, Australia, India, China, and Kazakhstan.

Despite a slight 5.38% decline in international tourist arrivals in 2025 to 10.47 million, and a 4.49% drop in tourism revenue to THB545.87 billion, Phuket continues to attract high-spending visitors and long-stay investors. The real estate market has remained one of the hottest in the nation.

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“Phuket remains an attractive and strategic investment hotspot in 2026,” says Phattarachai Taweewong, research and communication director at Colliers Thailand. Major listed developers from Bangkok, including Sansiri and AssetWise, are planning additional condominium projects, while local developers such as Botanica Luxury Phuket are also launching new supply.

However, Colliers Thailand notes that the sustained high level of new supply could intensify price competition, particularly in the mid- to upper-end condominium segment. Developers are advised to sharpen product positioning, quality, and strategic pricing to maintain competitiveness.

In the holiday home segment, home to some of Thailand’s highest-priced properties, Phuket saw approximately 1,100 newly launched units across 40 projects in 2025, with a total investment value of THB27.22 billion. Over 58% of that supply was concentrated in the Cherng Talay area, which has seen particularly strong demand from Russian buyers.

Looking ahead, Colliers Thailand forecasts that new condominium supply will moderate to 6,000–8,000 units in 2026, following a two-year surge of nearly 25,000 units. Key locations will remain Bang Tao, Cherng Talay, Rawai, Kata, Karon, and Phuket Town. Meanwhile, holiday home developers are expected to shift further inland due to beachfront land scarcity and rising land prices, with the THB30–50 million price segment remaining highly attractive to buyers.

“Phuket continues to rank among the most promising real estate destinations in Thailand,” the report concludes.