Amidst the fluctuations of the global economy, Phuket's real estate market continues to grow steadily, particularly in the condominium and lifestyle segments, which are becoming a new definition of luxury on this island. This was one of the key points discussed at the Asia Connect: Phuket Property Pulse seminar held at Andara Resort & Villas, in collaboration with PropertyGuru Thailand and C9 Hotelworks. Experts in the field shared their insights, emphasizing that the market should focus on promoting the destination to a global audience to attract tourists and expand the base of new property buyers, such as those from the Middle East and India.

Dr. Allan Zeman, founder and CEO of Lan Kwai Fong Group, stated: “We are in a phase of economic rebalancing. Despite the volatility, there are abundant opportunities. Moreover, Thailand, especially Phuket, demonstrates resilience, as the demand for lifestyle investments from both regional and global investors continues to grow. It is crucial to adhere to long-term fundamentals rather than just focusing on short-term results.”

Investors further noted that buyer behavior has changed, and property developers must adapt to the new market expectations. “Today's buyers have a global perspective, understand design, and seek value beyond just accommodation. They desire a comprehensive experience that emphasizes health, privacy, sustainability, and branded services. Phuket can perfectly meet these needs. Post-COVID, Phuket has transformed from a tourist city into a new living base for digital nomads, families, and those seeking a better quality of life. Infrastructure development has become a key driver for Phuket's future growth.”

The latest data from the Phuket Property Market report (May 2025) by C9 Hotelworks confirms this trend, revealing that Phuket currently has a total of 40,600 real estate units available for sale across 343 projects. The average price for condominiums is 144,000 THB per square meter, while single-family homes and villas are priced at 70,000 THB per square meter, with the highest prices found in the Cherng Talay area along the island's western coast.

“Phuket needs to return to its foundation as a global destination brand and find ways to convert tourists into buyers. Property developers should not wait for customers to come to them but should proactively explore new markets strategically while preparing to address external risk factors that may impact market stability in the future,”Bill Barnett, Managing Director of C9 Hotelworks, added.

A new development area to watch is the Cherng Talay district, particularly near Bang Tao Beach, which is home to Sudara Residences, a new project by LKF Group designed to cater to buyers who prioritize lifestyle. The project features 1–3 bedroom units ranging from 52 to 144 square meters, including pool villa units and resort-level amenities. The clubhouse, The Pavilion, includes an outdoor swimming pool, lounge with cabanas, kids' club, fitness center, café, yoga space, and co-working space, all managed by the team from Andara Resort & Villas. The project is scheduled for completion in 2027.

(Left-Right) Mr. Paul Ashburn, Joint Managing Partner of HLB Thailand, Mr. Jules Kay, General Manager of PropertyGuru Asia Property Awards and Events, Mr. Sumi, Mr. Allan Zeman, Founder and CEO of Lan Kwai Fong Group, Ms. Sumi Sorian, Founder of Mrs B Group and Judge for the Phuket Property Awards, Mr. Desmond Hughes, Senior Partner at Hughes Krupica Consulting, Mr. David Johnson, CEO of Delivering Asia.

The event also featured discussions on other important topics, such as Thailand's long-term leasehold ownership structure, tax considerations for developers, and market trend analysis based on data, presented by experts from Hughes Krupica, a leading law and consulting firm, and HLB Thailand, a top accounting and consulting firm in Thailand.

This event was organized by PropertyGuru Thailand Property Awards, which is recognized as the highest accolade in the Thai real estate sector. Mr. Jules Kay, General Manager of PropertyGuru Asia Property Awards and Events, stated, “Twenty years ago, we established this award to honor quality projects at a time when such awards were scarce. We have witnessed diverse growth in the Thai real estate industry, and this year, we will present over 100 awards to reflect the progress and diversity of the industry.”

For more information, visit C9hotelworks.com and read the full Phuket Property Market Update report at: https://c9hotelworks.com/wp-content/uploads/2025/05/Phuket-Property-Market-Update-Report-May-2025.pdf.

For more details about the Sudara Residences project, visit sudaraphuket.com.