Ms. Somsakoon Limsoothapan, Deputy Managing Director of Business Development and Asset Management at Plus Property Co., Ltd. revealed that Phuket remains a popular destination for both tourists and real estate investors. The continuously growing tourism trend reflects the potential of the housing market in 2024, with Phuket welcoming 13 million tourists, an 18% increase from 2023. According to the Airports of Thailand (AOT), the number of flights arriving at Phuket International Airport totaled 51,836, a 19% increase from the previous year, comprising 28,645 international flights and 23,193 domestic flights, which is 89% of the pre-COVID-19 levels, indicating a strong recovery in the tourism industry.

In the current year, the number of incoming flights to Phuket International Airport from January to February 2024 reached 10,556, a 17.8% increase compared to the same period last year, with 6,207 international flights and 4,349 domestic flights. The top three countries of tourists arriving in Phuket, according to the Phuket Immigration Office, are Russia, China, and India.

The growth in flights directly impacts the housing market in three areas:

1. Expansion of the Foreign Investor Market - Improved travel convenience has led to increased interest from foreign investors, particularly from China and Russia, in purchasing condominiums for both personal use and long-term rental.

2. Demand from Long-Stay Residents (Long Stay & Expatriates) - The trend of long-stay tourists and digital nomads continues to grow, resulting in increased interest in residential projects that cater to long-term living.

3. Growth of the Short-Term Rental Market - The rise in tourists stimulates demand for short-term rental condominiums, especially in locations near the airport, tourist attractions, and amenities.

Ms. Somsakoon stated that Plus Property has been active in the Phuket market for over 18 years, with expertise in property management and a deep understanding of the Phuket market. Currently, we manage a total of 21 residential projects in Phuket, covering over 7,000 units and a total area of more than 500,000 square meters. In 2024, Plus Property reaffirms its leadership in comprehensive property management, offering one-stop services that include sales and marketing management for projects (Sole Agent), brokerage services, and after-sale services, which encompass living management, 24-hour AI security technology from LIV-24 that monitors safety in real-time, concierge services in partnership with quality providers to enhance residents' lifestyles, and property care services that cater specifically to investors, ensuring profitable rental returns (ROI), property maintenance, utility management (water and electricity), and home improvements.

The highlight of Plus Property is its tailor-made services designed to meet the specific needs and lifestyles of residents in each area, with a focus on preparation before project launches by training staff to provide tailored services for each project. Plus Property has its own training institute, established for over 7 years, called “Plus Eduplex”, which produces quality personnel in property management and has launched the Luxury Management Academy for the first time in Thailand to meet the needs of premium residential clients, while also preparing to design services suitable for the Resort Property segment.

“Plus Property is committed to being a part of driving sustainable growth in the Phuket market while growing together. We are confident that the growth of the tourism industry, the increasing trend of flights to Phuket, and government infrastructure investments will positively impact the demand for housing in Phuket, especially among foreign investors and long-stay residents. Plus Property is ready to play a significant role in driving the Phuket real estate market to grow and strengthen in the long term,” Ms. Somsakoon concluded.

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