Phuket: Thailand’s thriving real estate haven

For years, Phuket has been a thriving real estate destination, capturing the attention of investors worldwide. The island’s appeal is undeniable, making it a sought-after market for those who want to secure a slice of paradise.

Since 2023, Phuket’s property prices have been on the rise, according to The Phuket News. Real estate has always been about “location, location, location,” and many areas of Phuket attract more buyers, especially those nearer the sea. But because it’s a small island, one is never more than 30 minutes away from the coastline. A newly built road can spur the development of a previously considered unlivable land.

There are several reasons for Phuket’s real estate boom. Phuket has experienced a remarkable resurgence in tourism following the unprecedented challenges posed by the global pandemic. This resurgence has revitalized the island’s economy, sparking renewed interest in Phuket as a travel destination and increasing demand for short-term and long-term rental properties. VNExpress also noted that Phuket’s buoyant high-end real estate sector can be credited to a strong resurgence in tourism and Thailand’s attractive visa policies, enticing affluent individuals to consider the region for investment and residency.

As Thailand experiences economic stability and expansion, Phuket’s real estate benefits from a positive ripple effect. Investors are attracted to the market’s steadiness and optimism, making it a conducive environment for real estate ventures. The island is witnessing a surge in new development projects ranging from residential complexes to commercial spaces, a testament to the growing demand for various property types in Phuket. Investors and developers alike exhibit confidence in the island’s future potential, driving a wave of innovative and ambitious projects.

Beyond the economic factors, Phuket’s intrinsic qualities as a lifestyle destination play a pivotal role in its real estate allure. The island’s natural beauty, vibrant culture, and well-rounded infrastructure make Phuket a magnet for those searching for a second home, a retirement haven, or an escape into a tropical paradise. The combination of modern amenities and a laid-back lifestyle makes Phuket an irresistible destination for those looking to integrate leisure and luxury into their real estate investments.

The Phuket property market continues to exhibit steadfast and robust demand, making the island a real estate hotspot teeming with diverse opportunities for investors to leverage evolving market trends.

That is why Mishari Group Ltd, a distinguished international property developer, is gearing up to rekindle interest in the latent potential of Karon Beach in Phuket. Long considered a “sleeping giant,” Karon Beach stretches across 5 kilometers of pristine white sand overlooking the Andaman Sea. The beach’s northern tip is typically quiet and uncrowded, making it an ideal destination for those seeking a secluded and private beach experience.

Nestled at Karon Beach is Meliá Phuket Karon Residences, a hillside development featuring a 138-key hotel and 68 low-density residences. These residences are perched on the hillside, offering a breathtaking vista of the sweeping bay and the crystalline waters of the Andaman Sea, providing an unparalleled viewpoint from within a lush forest setting.

“The natural contours of the land and the astonishing views over the bay have inspired this project,” remarked Faheem Ahmed, chairman of Mishari Group, a developer with a proven track record in London and Hong Kong. “It gives us great pleasure to unveil the pool villas and condominiums, catering to an increasing number of international residents choosing Phuket as their full or part-time residence.”

Residents of this prestigious development will relish five-star services meticulously managed by Meliá Hotels International, a renowned European hotel group. The offerings include an expansive forest spa, bars and restaurants, a beach club, and a nature park. Karon Beach is five minutes away, thanks to a dedicated shuttle service. And residents can use a 70-foot, four-bed Sunseeker boat with a capacity for 20-30 people.

Ignacio Martin, Asia Pacific Managing Director of Meliá Hotels International, expressed delight in their collaboration with Mishari: “We are delighted to partner with Mishari to unveil a collection of pool villa sanctuaries. This project is very much in line with our nature-focused outlook. By blending natural beauty with world-class hospitality, this development will once again put Karon Beach on the map as one of the most sought-after destinations on the island.”

With the development of Meliá Phuket Karon Residences, Phuket solidifies its position as a thriving and attractive real estate destination. As investors explore opportunities in this tropical haven, the prospects for growth and returns on investment continue to paint a promising picture for Phuket’s real estate future.

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