>Bangkok Real Estate Slows Down, Tourist Cities Take Over Colliers International has revealed the latest data on the Thai real estate market, indicating a clear slowdown in Bangkok's real estate sector. This has led many developers to focus more on the real estate market in tourist cities such as Phuket, Pattaya, Hua Hin, and Koh Samui, with Phuket emerging as a prime location for investors.

Phuket: A Popular Destination for Investors In 2024, Phuket is expected to welcome up to 14 million tourists, generating over 400 billion baht in tourism revenue. The main tourist groups include Russians, Australians, Indians, and Chinese. The demand for housing and real estate in the form of condominiums and vacation homes continues to grow, with major real estate companies from Bangkok and local developers launching projects such as Origin, Supalai, Sansiri, Asset Wise, Botanica Luxury Phuket, and Boat Development.

The real estate figures in Phuket clearly reflect growth:

  • In 2023, 8,743 new condominium units were launched.

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  • In 2024, 14,718 new condominium units are expected to be launched from 54 projects, with a total value exceeding 102.033 billion baht, the highest in 15 years.

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  • In 2025, just over a month into the year, more than 1,000 new condominium units have already been launched.

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Popular locations in Phuket include Bang Tao, Cherng Talay, Rawai, Kata, Karon, and the city center, which continue to see high demand from both investors and homebuyers.

Pattaya: A Reviving Real Estate Market Pattaya is regaining its status as an investment hub, with 13 new projects launched in 2024, totaling 7,897 units and an investment value of over 36.06 billion baht. The most popular area is Jomtien, and in 2025, Pattaya is expected to remain a key destination for investors, with ongoing new project launches in the city center, Jomtien, and Na Jomtien.

Koh Samui: A Real Estate Market to Watch Real estate in Koh Samui faces land ownership restrictions, leading to most developments being in the form of villas and leasehold properties. However, condominiums in Samui are highly sought after, with only five projects launched but achieving sales within a year due to lower prices compared to Phuket. For instance, a villa priced at 30-40 million baht in Phuket offers less space than a similar property in Samui. Supalai is one of the developers planning to expand investment in Samui in the future.

Trends in the Thai Real Estate Market in Tourist Cities With the overall slowdown in Bangkok's real estate market, tourist cities have become a new lifeline for Thai developers, particularly Phuket, Pattaya, and Koh Samui, which are attracting interest from both domestic and international investors. The growth trend is expected to continue into 2025 and beyond.