Colliers said Phuket continues to draw strong interest from both Thai and international investors in 2026, positioning the island as a strategic economic and tourism hub on the Andaman coast. Large-scale public and private sector projects – including landmark mixed-use developments and international branded residences – are underpinning confidence in the province’s long-term growth prospects.
Patrachai Taweewong, Director of Research and Communications at Colliers Thailand, said Phuket remains “a key treasure trove” for investors, with capital continuing to flow into the local property sector despite a broader slowdown in Bangkok’s residential market.
Colliers data shows that between 2021 and 2025, developers launched 45,066 new residential units in Phuket, representing a total investment of B469.72bn. The strongest year was 2024, when 18,515 units were launched with an investment value of about B190.11bn, reflecting heightened developer confidence in the market.
With a further B71.5bn in investment projected for 2026, cumulative investment over the six-year period is expected to reach approximately B541.22bn.
By the end of 2025 alone, more than 72 new condominium, housing and vacation home projects were launched, adding 10,312 units to the market with a combined investment value of B81.64bn. Several projects recorded strong take-up, with some major developers reporting sell-outs and others achieving 50-70% sales within the first month of launch – a signal of robust demand from both Thai and foreign buyers.
BANGKOK PIVOT
As the Bangkok residential market remains subdued, Colliers noted that both Thai and foreign investors are increasingly looking to high-potential tourist destinations such as Phuket for better returns, particularly in the condominium and vacation home segments.
Major listed developers from Bangkok are expected to remain active in Phuket in 2026. Sansiri Plc has signalled plans for at least two additional condominium projects on the island, while AssetWise Plc continues to seek large land plots for further residential development. Local developers, including Botanica Luxury Phuket, are also lining up new launches when market conditions are favourable.
Colliers forecasts that new condominium supply in Phuket in 2026 will remain solid at around 6,000-8,000 units, slightly down from the nearly 25,000 units launched over the past two years. Key development zones are expected to remain Bang Tao, Cherng Talay, Rawai, Kata, Karon and Phuket Town, with strong interest from international buyers, particularly Russians.
In 2025, Phuket saw the launch of 8,372 new condominium units across 23 projects, with a combined investment value of B47.35bn. More than 6,000 additional units are estimated to be awaiting launch in 2026.
TOURISM UNDERPINS DEMAND
Phuket received 10.47 million international tourists in 2025, down 5.38% year-on-year, generating tourism revenue of B545.87bn, a decrease of about 4.49%. Despite the softer figures, Colliers said sustained inflows of visitors and long-stay residents – particularly from Russia, Australia, India, China and Kazakhstan – continue to support demand for both owner-occupier and investment properties, especially in resort and long-stay segments.
The return of tourists and expatriate residents has also fuelled demand for properties suitable for long-term living and short-term rental, with vacation homes and resort-style condominiums proving especially popular.
VACATION HOMES REMAIN A STANDOUT
The luxury vacation home market in Phuket continues to attract wealthy Thai and foreign buyers, cementing the island’s status as Thailand’s most sought-after destination in this segment. By the end of 2025, 1,100 vacation home units had been launched across 40 projects, with a total investment value of B27.22bn.
More than 58% of new vacation home supply is located in Cherng Talay, with other high-demand areas including Bang Tao, Surin, Layan, Nai Thon, Rawai, Kamala and Patong. Most projects are concentrated along Phuket’s west coast, particularly in Thalang district.
The B30m-B50m price range is attracting strong interest from both Thai and foreign buyers, as beachfront land becomes increasingly scarce and expensive. Developers are responding by launching high-end projects slightly further inland, offering quieter residential environments at more accessible price points.
Colliers expects developers to continue prioritising vacation home projects in 2026, with more launches planned by both Bangkok-based and local developers.
PRICE PRESSURES
While outlook remains positive, Colliers cautioned that the surge in new supply over the past two years has intensified competition, particularly in the mid- to high-end condominium segment. The firm noted that sustained high levels of new launches could lead to pricing pressure in certain locations.
Developers are therefore being urged to sharpen product positioning, focus on design and quality, and adopt realistic pricing strategies to remain competitive in an increasingly crowded market.
Despite these challenges, Colliers said Phuket’s fundamentals – anchored by tourism recovery, long-stay demand, infrastructure development and continued foreign interest – are expected to keep the island among Thailand’s most valuable and sought-after real estate markets in 2026 and beyond.