C9 Hotelworks Releases Phuket Property Update Report

Phuket’s residential property market in the first four months of 2025 reflects a shift toward product differentiation, rising development costs, and lifestyle-driven demand. C9 Hotelworks newly released Phuket Property Market Update May 2025 indicates condominiums continue to dominate overall supply, as branded residences and landed properties are gaining traction.

As of Q1 2025, there are 40,600 residential units for sale across 343 active projects in Phuket. Condominiums comprise 33,704 units, or 83% of the total, while villas and other landed properties account for 6,896 units. Non-branded residences dominate the market, though branded developments are seeing higher pricing power and buyer interest. Cherngtalay remains the island’s most active submarket, with 54% of total inventory supported by mixed-use projects such as Laguna Phuket.

Developers from Bangkok, including Sansiri and Ananda, have expanded into Phuket, while local leader Rhom Bho Property holds the largest share with 4,820 units across nine projects. Median condominium prices stand at THB144,000 per sq.m, with branded units averaging THB181,000. Villas and landed homes are priced at THB70,000 per sq.m on average, but branded properties can reach up to THB162,000. In premium zones like Bangtao, one-bedroom condominiums with aspects such as ocean views are listed for as much as THB19.4 million, while villas can exceed THB138 million.

A notable pricing gap exists between primary and secondary condominium markets, with new units averaging THB139,000 per sq.m compared to THB100,000 in the resale market. High land prices are pushing new developments inland or encouraging vertical building strategies.

Phuket’s rental market remains robust. One-bedroom condominiums are the most sought-after product, renting for an average of THB22,541/month for long-term leases and THB26,616/month for short-term stays. Larger units and 3–4 bedroom villas command higher rents, with short-term villa rentals averaging THB179,445/month. Popular rental areas include Cherngtalay, Rawai, and Patong. However, increasing enforcement against short-term condo rentals under 30 days is impacting investor behavior.

The market is further supported by new commercial developments, including Siam Premium Outlet and an expansion of Central Phuket. These projects aim to improve livability and support Phuket’s growing role as a second-home and investment-oriented destination.

In conclusion, success in this evolving market depends increasingly on how well developments align with specific buyer needs rather than broad mass-market appeal. At the same time, rental regulations and rising land prices are reshaping both investment strategies and development trends across the island.

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