Phuket’s Property Market Shift: From Holiday Escape to Global Investment Hub

If you’re looking to move to Phuket to purchase Thai property, now is the perfect time. Fueled by rising foreign demand and new residential and mega projects, Phuket isn’t just known as a famous tourist destination but also a major investment hub. The province is now playing a major role in shaping Thailand’s international economy and real estate market, with many foreigners settling there for investment purposes.           

This article examines the factors behind this shift and outlines what foreign buyers should consider before purchasing property in Phuket.  

Reasons for Phuket’s Transformation into an Investment Hub

There are numerous reasons why Phuket is now shaping up to be a major real estate power on the Andaman coast. Driven by large-scale private and public sector projects, branded residential properties, and higher tourism revenue, the province is becoming a magnet for foreign investors across the globe. 

1. Residential Supply Continues to Expand

From 2021 onwards, Phuket’s residential market has been on a steady increase, with the launch of more than 45,066 new units. At the end of 2025, around 72 new residential projects were launched with an investment value of over 81,643 million baht. Further research has indicated that around 50-70% of sales tend to close within less than a month, a sign of high purchasing power from both domestic and foreign buyers. 

If you’re looking to own a condominium this year, there will be multiple choices for you to choose from. According to Colliers International Thailand, a leading real estate organisation, they have gathered evidence that suggests that Phuket’s condominium market will remain strong even throughout 2026. This is emphasised by major property developers, such as Sansiri and AssetWise, looking to further expand their presence in the province. 

2. Increase in Tourism to Phuket

Part of why Phuket’s property market is seeing healthy growth rates is due to the increasing number of foreign investors heading to the province. Many foreigners look to Phuket for investment opportunities, and as of 2025, at least 10.47 million foreigners have visited the province, leading to a total tourism revenue of over 545 billion baht. 

Much of this increase can also be attributed to foreign investors seeing Thailand as both a temporary holiday retreat and a way to generate income in the long run. This is especially true for travellers from select countries, such as Russia, India, and China. This all culminates in making Phuket more of an ideal tourist locale than ever, whether you want to visit it temporarily or secure a property. 

3. Rise of Phuket’s Luxury Villa Market

Coinciding with the expansion of Phuket’s residential property market, luxury villas are also seeing strong growth. After 2025, 40 villa projects were established, valued at over 27,215 million baht. Much of the focus has been placed on the Cherng Talay region, which has become an increasingly popular destination for Russian buyers.  

If you want to secure a villa in 2026, it’s best to consider purchasing one in more inland areas rather than by beaches, as developers are concentrating on these parts due to lower costs. Most of these homes are priced between 30 and 50 million baht, a range that continues to attract steady buyer demand in Phuket’s current housing market. 

How to Purchase Property in Phuket

Due to the expansion of Phuket’s property market and its positive outlook in 2026, there is no better time than now to invest. But purchasing property in Thailand has its own set of rules to follow, which may cause complications if you don’t know what you’re doing. 

Here are the steps to go through to secure a property in Phuket:

Step 1: Locate a Real Estate Agent

Property agents are vital in finding the right location and real estate that matches your interests. A qualified agent will save you time and money in helping you with your investments and in negotiating an affordable price with the seller. 

Step 2: Hire an Experienced Property Lawyer 

Buying property in Thailand is different compared to other countries, which can risk you falling victim to scams without any professional support. The right property lawyer helps you avoid fraud, disputes, and legal issues throughout your investment journey, making sure the property you’re securing is authentic and ensuring you’re following the correct procedures. 

Step 3: Perform a Title Search 

With a lawyer by your side, they will conduct a title search to confirm the legal ownership of the property. They will trace the history of the property title to the date it was initially acquired and identify any hidden encumbrances (such as mortgages), protecting you from unpaid debts and illegal contracts. 

Step 4: Do Your Due Diligence 

Your lawyer will also conduct due diligence on the seller and the property you’re interested in. This goes beyond a simple title search by verifying access rights, boundaries, living conditions, and restrictions, so you know whether the property is structurally sound and if there are any burdens to be aware of. 

Step 5: Check the Contract Before Signing

Along with the payment, the property contract (also known as a Sales and Purchase Agreement) is a mandatory step to finalizing the transaction. As such agreements are drafted by the seller themselves and payment is non-refundable, it’s important to review their terms and legitimacy before signing them. 

Step 6: Register Your Title

The final step of the process is to complete the property ownership transfer at the Thai Land Department, so the title is in your name. While this involves preparing the right documentation, your lawyer will guide you throughout the registration procedures. 

Professional Assistance in Securing a Property in Phuket

Given the various changes, Phuket has transformed into an ideal location for property investments. However, you may risk encountering fraudulent transactions, bad-faith contracts, and monetary losses without the help of a lawyer. To find the right lawyer to help you invest without delays or other issues, reach out to Siam Legal’s property team for professional guidance.

As a full-service law firm operating for over 20 years in Thailand, our lawyers have the skills and experience to help you secure a property quickly and smoothly. We will perform a title search and due diligence to verify its legitimacy, ensure all the right terms are in the property contract, and help you with the ownership transfer. While Phuket’s property market continues to grow, we manage the legal due diligence, contract review, and title transfer process, allowing you to move forward with your investment without unnecessary exposure to risk. 

Contact Siam Legal and book a consultation with us today for the fastest and most straightforward way of getting the property you desire in Phuket.

Category: Property