The Cost of Apartments and Villas in Phuket: Prospects for 2024

Economic situation in Thailand

In the last two years, Thailand's economy has stagnated due to the pandemic. However, we see the country entering a new economic phase from 2022 to 2024.

Tourism will be the main driver of Thailand's economic growth. The tourism sector is expected to rebound by the end of this year. These trends can be expected to have a positive impact on property values, including the price of a square metre in Phuket. Phuket as a centre for foreign investment

Phuket is a centre for foreign investment in Thailand's tourist real estate. This island attracts investors with its picturesque beaches, lush tropical vegetation and diverse cuisine.

Foreigners who come here on holiday often decide to invest in local property. The cost of flats and villas here is much lower than in European resorts, which makes Phuket attractive to investors. Phuket property market

The Phuket property market offers a wide range of investment properties. The value of a property depends largely on its location and view. Flats with sea views are 2-3 times more expensive than those facing the mountains. Bang Tao and Laguna are the elite resorts in Phuket, where the most expensive hotels, villas and condominiums are located. Property prices here start at $107,000 for 29 square metres and go up to $6 million for 749 square metres.

Kamala Beach is famous for being the summer residence of the King of Thailand. Here you can find both democratic variants of real estate, and premium-class objects. Prices for condominiums in Kamala range from 93 thousand dollars to 450 thousand dollars.

Karon and Kata are popular beaches in Phuket, located on the south-west coast of the island. Here you can find properties of different price categories. Condominiums on Karon and Kata cost from 80 thousand dollars to 224 thousand dollars, and good villas with a pool - from 566 thousand dollars to 1.5 million dollars.

Rawai and Naiharn are developed neighbourhoods on Phuket's south coast. Locals and expats from different countries live here. Property prices here start from $95,000 for a condominium and from $387,000 for a villa.

Nai Yang is located in the north of Phuket Island. It is a quiet and secluded place, ideal for family holidays. Prices for condominiums in this part of Phuket start from 104 thousand dollars, and a villa can be bought from 301 thousand dollars.

Chalong is an area on the east coast of Phuket with a well-developed infrastructure. It is a popular place for diving. In Chalong very little income property, here housing is purchased mainly for private needs. Forecasts for 2024