• Phuket Real Estate: Foreign Confidence Fuels Sustainable Local Economic Growth showcasing Phuket's potential with a strong Rental Yield of 8-9%* per year.
  • Reflecting the success of Sansiri's foreign condo sales in 2023, surpassing 1 billion baht.
  • Launching the first project of the year, ‘RHEA by Sansiri’, a new condo 600 meters from Surin Beach and just 350 meters from Bang Tao Beach, with a model room opening on February 5 at The Society.

Sansiri, Thailand's leading real estate developer, stated, “The Phuket real estate market continues to attract foreign customers, especially condominiums that meet the needs of both Real Demand and global investors. In 2023, Sansiri achieved over 1 billion baht in sales from its condo business, showing slight growth from the previous year. A highlight was the dcondo reef project, which sold out by the end of the year. Additionally, Sansiri is actively pursuing potential coastal locations, such as CANVAS Cherngtalay, which has nearly filled its foreign quota with sales to Russian, Chinese, and European clients. Meanwhile, THE BASE Cherngtalay, launched earlier in 2023, has already achieved 90% sales (both Thai and foreign), along with THE BASE Bukit Phuket and THE BASE Rise Phuket, and dcondo cove, which was launched late last year, continues to see steady transfers.”

The reasons foreign customers are targeting Phuket include its emergence as one of the most promising real estate markets in Southeast Asia, a global destination with expanding infrastructure, including the second phase of Phuket International Airport and new expressway projects, as well as the growth of international schools and high-end hospitals. This makes Phuket a primary target for Global Citizens seeking a second home with a high quality of life, resulting in a steady influx of tourists year-round, especially during the High Season (November - April), when average rental rates soar to 80-90%. According to Sansiri's data, investing in condominiums in Phuket offers an attractive Rental Yield of 8-9%* annually, along with long-term property value appreciation, making Phuket a prime location for foreign customers interested in real demand and investment.

Sansiri continues to build on its success, actively entering the market in 2024 with the launch of its latest project, ‘RHEA by Sansiri’, valued at 1.5 billion baht, located just 600 meters from Surin Beach and 350 meters from Bang Tao Beach. This new location offers affordable pricing starting at just 3.99 million baht* for a low-rise condo that allows pets, comprising 295 units with one-bedroom sizes ranging from 29.75 to 35.25 square meters, two-bedroom sizes from 47.75 to 65.00 square meters, and a 120 square meter villa. The project features over 3 rai of communal space, including outdoor and indoor amenities such as a lobby, co-working space, a gym, and a large swimming pool over 900 square meters, yoga lawn, boxing area, and pet park. Since the information was released, it has garnered continuous interest from foreign buyers in both Freehold and Leasehold formats.

RHEA by Sansiri will open for VVIP model room viewings on February 5 at The Society, a lifestyle space in the Cherngtalay-Bang Tao area. Interested parties can register for exclusive privileges at https://siri.ly/2J8Idh1

Amidst increasing competition, Sansiri maintains its strong market leadership as a globally trusted brand, with key strengths including expertise in project development that meets customer needs and timely project delivery, which is a crucial factor for foreign customers looking to mitigate risks associated with purchasing real estate abroad. Additionally, the After-sales Service provided by the Plus Property team (a subsidiary of Sansiri) is comprehensive and professional, covering everything from property management to maintenance, as well as efficient rental and resale management, thereby enhancing long-term asset value. All these factors are significant drivers that have allowed Sansiri to capture the hearts of foreign markets for an extended period.

The expansion of capital and foreign demand in Phuket's real estate will be a key engine driving overall economic growth in the long term, transitioning from short-term tourism to long-term residency (Long-stay), which stimulates continuous consumption and local employment across the board, from construction to premium service businesses. Furthermore, the funds from property transfers and land taxes are significant revenues that help elevate the province's infrastructure, making Phuket not only a world-class tourist city but also a stable economic investment and residency hub in the long term.