In this story7 chapters
Phuket has become one of Asia’s leading second-home markets, and 2025 showed which part of it is strongest. Villa demand rose while new supply fell away. These are the numbers, the buyers and the rules that shape the market in 2026.
The market in numbers
Knight Frank’s year-end 2025 report on Phuket draws a clear line between villas and condominiums.
- Villas: 631 sold in 2025, up 12.9%, while launches fell 48.2% to 774 units.
- Condominiums: 4,455 sold, down 24.8%, with launches down 51.7% to 5,073.
CBRE’s first-half 2026 figures show the villa market accelerating, with units sold up 67.6% on the previous half-year and 72.6% of villa supply sold.
The pattern is the one that tends to hold up prices: demand rising while developers launch less. Condominium supply is far larger, at more than 42,000 units in stock, and more exposed to competition.
Where the money goes
The west coast leads. Knight Frank puts average villa prices at about THB 285m in Layan, THB 256m in Bang Tao and THB 234m in Kamala. Typical condominium prices run at THB 125,000–160,000 a square metre, rising to about THB 284,000 in Bang Tao. Branded residences, hotel-operated homes with their own services, are concentrated in Bang Tao and Layan.
Millionaire’s Mile on Kamala’s headland remains the island’s most exclusive address.
Who is buying
Across Thailand, foreigners bought 14,899 condominium units in 2025, up 2.2%, worth THB 60.9bn. Chinese buyers took a third, 4,940 units, followed by buyers from Myanmar, Russia and Taiwan. Buyers from France, the United States and the United Kingdom each took between about 480 and 660.
In Phuket’s villa market, CBRE names Russian and Chinese buyers as the leading groups. The island’s visitor numbers tell the same story: Russia was Phuket’s largest source market in 2026, with almost 662,000 visitors in the first eight months.
Interactive · Ownership
Four ways to hold property in Thailand
Pick a route to see what you own, for how long, and where buyers get caught out.
- What you own
- The unit outright, with a title deed (chanote) in your name
- The limit
- Foreign ownership capped at 49% of a building’s saleable floor area
- Money in
- Funds sent from abroad in foreign currency, with a bank certificate (FET form)
- Term
- Indefinite; sell or leave it to heirs
- Watch for
- Quota left in the building; the juristic person’s sinking fund and fees
How foreigners own
Thai law is clear, and it has not changed. Foreigners can own a condominium unit freehold, provided the building’s foreign quota of 49% of floor area is not used up, and the purchase money is sent from abroad. Land is held through a registered lease of up to 30 years. Proposals to raise the condominium quota to 75% and extend leases to 99 years had not been enacted as of mid-2026.
The four routes, and where buyers get caught out, are set out below. Our Thailand foreign ownership guide covers each in depth.
On the market in ThailandSole Mio ResidencesPhuket, ThailandFrom THB 20,200,000See the developmentLiving there
Long stays are simpler than they were. The Destination Thailand Visa gives five years of multiple entry, with stays of up to 180 days. From August 2026 applicants must apply in their country of citizenship or residence and provide a criminal record certificate. Thailand Privilege memberships start at THB 900,000 for five years, rising to THB 5m for twenty. Our visa and residency guide compares them.
Access is improving. Airports of Thailand plans to lift Phuket airport’s capacity from 12.5 million to 18 million passengers by 2029, and new direct routes continue to open.
What to watch
- Supply in the condominium market. Choose developments with a clear advantage in location or operator.
- Lease terms. A villa lease is only as strong as its registration and renewal clauses.
- Rental management. Hotel-run programmes deliver more reliable income than private letting.
- Currency. Thai baht strength or weakness changes the price for foreign buyers.
The verdict
Phuket’s second-home market rewards selection. Villas in the west-coast enclaves, with sound leases and a strong operator, have the best supply and demand balance on the island. Our Thailand desk works with buyers on both, with a costs and taxes guide for the numbers beyond the price.
