BANGKOK — Despite the global uncertainty caused by Donald Trump’s tariff announcement and the earthquake in Myanmar that shook Bangkok and led to the collapse of a government audit office building under construction, Phuket and Pattaya are emerging as real estate investment hotspots for both Thai and foreign buyers.
Phattarachai Thaweewong, director of research and communications at Colliers Thailand, told Prachachat Business that over 50 new projects for vacation homes and condominiums were launched in Phuket and Pattaya in Q1/2025 with a total value of over 61.5 billion baht ($1.85 billion).
Some large listed developers filled their 49% quota for foreign buyers within just 3 hours, with over 2,000 names on the waiting list.
Several developers have reportedly sold more than 20 villas within a month, while others have reached 50–70% of total project sales in less than a month, a sign of strong demand from both local and foreign investors.
Phuket Condominiums Hot Through 2026
Phuket’s real estate market experienced a peak in Q1 2025, supported by the recovery in tourism. Tourists and investors sought long-term stays and short-term rentals, especially in the form of vacation villas.
3,167 new condominiums were launched from 11 projects worth 25.8 billion baht. The four main locations were Bang Tao, Cherng Talay, Kata and the center of Phuket.
“The Phuket vacation home market has its peak season from November to March, followed by a low season. Another 3,000 new condominiums are expected to enter the market, mainly from major developers.”
For 2025, the Phuket market remains strong, although new supply could easily decline to 8,000–10,000 units. In 2023–2024, over 20,000 new units will enter the market. The most popular locations include Bang Tao, Cherng Talay, Rawai, Kata, Karon and Phuket Town.
Well-known Bangkok-based developers are showing growing interest in Phuket’s condominium sector for 2025–2026, driven by condo sales to Thai buyers and condo sales to foreigners, especially wealthy Russian buyers post-COVID.
Holiday Homes THB 30–50 Million Selling Fast
The market for high-end vacation homes in Phuket is the hottest in Thailand. By Q1/2025, 660 new units from 35 projects worth 23.3 billion baht have been launched, representing an average price of 35 million baht ($1.05 million) per unit. More than 55% of the villas are located in Cherng Talay, which is very popular with both Thai and foreign buyers, especially Russians.
Top beachfront locations include Thalang (Bang Tao, Surin, Layan, Cherng Talay), Phuket Town (Chalong Bay, Rawai) and Kathu (Kamala, Patong).
Competition for houses in the 30-50 million baht ($900K – 1.5 million) price segment is becoming increasingly fierce. As land on the beach is becoming increasingly scarce, development is shifting inland, where land prices are lower and privacy is greater.
“The Phuket market is visibly vibrant. The data confirms even greater potential for growth, with many large developers looking to expand either on their own or through local partnerships.”
Luxury Market Soars in Pattaya
In Q1/2025, the luxury condominium market in Pattaya recorded surprisingly fast sales. New openings were concentrated in three main locations: Jomtien, Wong Amat and the center of Pattaya. A total of 7 projects with 2,386 units worth 12.37 billion baht ($372 million) were brought to the market.
The city experienced a resurgence with major brands from Bangkok and renowned local developers such as Origin Property, Riviera Group, Sansiri and AssetWise.
Following the March 28 earthquake in Myanmar, Sansiri’s newly launched PTY Residence Sai 1 sold out within 3 hours, bringing in 3.3 billion baht to Thai and foreign buyers. Over 2,000 names were on the waiting list.
“PTY succeeded thanks to the synergy of the Sansiri brand and its rare location in the center of Pattaya on the beach, where no new luxury condominiums had been offered for over 15 years. The pent-up demand was huge.”
High-End Condos Return to Pattaya
There are currently 50,186 condominiums on the market in Pattaya, of which 74.54% (37,410 units) have been sold and 25.45% (12,776 units) remain. Central Pattaya has the highest sales rate (87.28%), followed by Jomtien (79.49%) and Na Jomtien (74.12%).
Beachfront condominiums are still in short supply and strong demand is leading to rapid sell-outs.
“Growth in Pattaya is showing a marked improvement. Supply is steadily increasing and sales are efficient. Jomtien, Na Jomtien and Wong Amat are now major centers for luxury and branded apartments. The long-term value growth for Pattaya real estate looks promising,” Phattarachai concluded.
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