“Phuket” is one of the most popular tourist destinations worldwide in 2024, showcasing high potential in tourism, economy, and real estate development. Tourism serves as the primary driver, generating hundreds of billions of baht annually, creating diverse business opportunities. This appeal attracts both investors and those seeking long-term residences. Currently, condominiums in Phuket's urban area are highly sought after by both Thai and foreign nationals looking for rental opportunities for tourists.

Phuket's Potential and Future Tourism Development Plans

Phuket's tourism is distinctive, capable of accommodating visitors year-round, whether during high or low seasons. In 2024, tourism in Phuket is projected to generate over 500 billion baht, primarily from international tourists from countries such as Russia, China, India, and the Middle East. During the recent high season, accommodation bookings in Phuket were exceptionally high, with beachfront hotels achieving nearly 100% advance booking rates. Phuket continues to focus on attracting high-spending tourists who stay longer to maximize revenue, with over 13 million tourists expected to visit in 2024, generating a total income of 500 billion baht.

According to Phuket's urban development plan for 2025, the goal is to promote sustainable and balanced growth in tourism, transportation, and long-term urban development. This includes major transportation projects, with the government planning urgent investments in seven projects worth over 148 billion baht. One of these is the expansion of Phuket International Airport (Phase 2) to increase passenger capacity from 12.5 million to 18 million, along with the development of a second airport (Andaman Airport) with an investment of over 80 billion baht.

Additionally, the development of Phuket's public transportation system, including a light rail tram line from Thanu Station to Phuket Airport and Chalerm Phrakiat Intersection, covering a distance of 58.5 kilometers, is currently under consideration. These plans represent infrastructure development that will position Phuket as a key travel hub, accommodating an increasing number of tourists in the future.

Moreover, Phuket aims to develop MICE Cities to become a destination capable of hosting business activities such as corporate meetings, international conferences, trade shows, mega-events, and international festivals.

Currently, the MICE business in Thailand is in high demand from various countries, and it is anticipated to grow significantly in the future. Thailand boasts numerous attractive tourist destinations, a rich cultural heritage, delicious Thai cuisine, and high-standard meeting venues, along with the welcoming smiles of Thai people ready to greet business travelers and tourists from all nations. The growth of the MICE business not only directly impacts the tourism sector but also helps distribute income to other businesses, contributing to the country's economic development and enhancing the capabilities of the workforce.

Thailand currently has 10 MICE cities, with Phuket being one of them, aiming to develop into a MICE event hub to enhance sustainable tourism potential, maximizing the use of existing resources, and establishing Phuket as a crucial link to new global markets such as the Middle East, Australia, and rapidly growing CIS countries through tourism promotion activities like roadshows and marketing events, making the city widely recognized and continuously attracting high-quality tourists.

“Phuket” is the shining star of Thailand, with its geographical features facing the Andaman Sea and lush forests, making it an ideal place for relaxation. It excels in hosting conferences, accommodating business travelers with various event spaces, such as boat trips for business events, and organizing events against the stunning backdrop of the Andaman jewel's beauty, ensuring that every visit is a unique experience. When discussing significant cities in Southeast Asia, “Phuket” stands out as a perfect example of the region, equipped with numerous amenities, deserving the title of MICE City of Andaman.

Investment Opportunities in Phuket Condos Targeting Foreign Renters for High Returns

The overall condominium market in Phuket has a cumulative supply from 2013 to 2024 of 43,121 units. In 2024, a total of 27 new projects were launched, comprising 10,267 units, mostly located on the western side of Phuket. The demand for purchasing condos continues to rise, as evidenced by sales exceeding 3,000 units in 2024, with a customer base comprising both Thai and foreign buyers in roughly equal proportions. Foreign buyers primarily come from Europe and Asia, including Russia, the UK, and China, with over 79% purchasing for investment purposes and 21% for personal use as a second home or vacation property.

The rental rates for Phuket condos range from 15,000 to 80,000 baht per month, averaging 450 to 800 baht per square meter per month. The average selling price for second-hand condos is between 90,000 and 160,000 baht per square meter, generating a capital gain of approximately 4 to 7% per year.

ESCENT PHUKET: New Condo in the Heart of Phuket

Central Pattana Residence, the leading real estate company in Thailand for sustainable living under the vision of IMAGINING BETTER LIVING, reinforces its unmatched success by launching ESCENT, a condominium brand that meets real demand and investor needs in a prime location near Central Phuket shopping center and within Phuket's urban development plan.

Previously, Central Pattana Residence developed the Feel Phuket condominium project in Phuket, which has seen remarkable growth, delivering 100% to customers and generating rental income for investors with a gross rental yield of 8 to 12% per year, surpassing the average returns in Phuket.

With the high demand for a central location in Phuket, the ESCENT brand, which has established a reputation for Central Pattana Residence with over 20 projects across Thailand, is launching a new project this year under the concept of Creative Connective Living, connecting happiness and fulfilling every lifestyle, just 1 minute from Central Floresta Phuket. Additionally, it is close to Head Start International School, leading hospitals, and other lifestyle destinations.

This is one of the residential projects located in a Smart City area managed by Phuket Urban Development Company.

Shopping Mall

  • Central Phuket Floresta 0.3 km.
  • Central Phuket 0.8 km.
  • King Power Phuket 3.5 km.
  • Premium Outlet 7.4 km.
  • IKEA 8.5 km.
  • Chaofa Variety Phuket 2.1 km.
  • Alpha Health Club 2.6 km.
  • Siam Niramit 6.4 km.

School

  • Head Start International School 0.55 km.
  • Darasamuth Phuket School 0.85 km.
  • Satree Phuket School 3.4 km.

Hospital

  • Bangkok Hospital Siriroj 1.4 km.
  • Bangkok Hospital Phuket 3.4 km.
  • Vachira Phuket Hospital 3.4 km.

ESCENT PHUKET is an 8-story low-rise building with 3 buildings and 513 units on approximately 6-1-90 rai of land, offering room types including 1-bedroom units starting from 25 sq.m, 28 sq.m, and 2-bedroom units sized at 51 sq.m.

UNIT TYPE

  • 1 Bedroom 25 Sq.m.
  • 1 Bedroom 28 Sq.m.
  • 2 Bedroom 51 Sq.m

The units feature a width of 5.6 meters and are fully furnished with amenities such as a kitchen counter, built-in storage, a 2-seater sofa, a dining table with 2 chairs, a shoe cabinet, a TV shelf, a wardrobe, a vanity area, and a 5-foot bed base, making them well-equipped for comfortable living.

The functional layout within the units clearly separates usage areas, with a closed kitchen, an open-plan living and dining area for convenience, and a bedroom separated by an HMR door for added privacy during rest and changing.

The project offers comprehensive amenities, including a Salt Water System Lap Pool for swimming while enjoying sunset views, a Jacuzzi for relaxation, a Beach Pavilion for nature immersion, a Community Garden for green space, and a Co-Working & Meeting lounge designed in a Key West Miami ambiance, with over 46% parking availability.

FACILITIES

  • Salt Water System Lap Pool
  • Kid’s Pool
  • Jacuzzi
  • Co-Working & Meeting Lounge
  • The Beach Pavilion
  • Fitness
  • Community Garden
  • Sauna

The project prioritizes security and privacy with four layers of access control before entering the building, including a double gate system, 24-hour security with guards and CCTV, a face scan access system, and license plate recognition for easy entry, along with a private road for project privacy, unlike other projects that access public roads.

Privileges in the Central Group

Central Pattana Residence, the leading real estate company in Thailand for sustainable living under the vision of IMAGINING BETTER LIVING, reaffirms its unmatched success for CPN residents with exclusive privileges Central Citizens that offer unparalleled convenience in daily life and activities that create new experiences.

Additionally, benefits from brands within the Central Group include Reserved Parking for residents at Central shopping centers (select branches), Central Food Park top-up bonuses of 10% for food and beverage purchases, free access to the sales gallery lounge with complimentary drinks and snacks, and the ability to accumulate The 1 points and special discounts from Central Group brands.

ESCENT PHUKET starts at 2.2 million baht, with showrooms open for viewing today. Register for exclusive privileges first click https://bit.ly/4eN751k

For more information call 02 021 9999

Add LINE@CPNR or https://lin.ee/0AzYmUd

*Terms and promotions are subject to the company's regulations.