Let's jump in and take a look at CBRE's Phuket Residential, H1 2019 Report.

Villas

A total of 73 villas were sold in H1 2019, increasing by 30% Y-o-Y.

New property sales were dominated by investors who wanted rental income and were looking for lower-end villas priced below THB 35 million, which accounted for 81% of the total villa sold in H1 2019.
The upper-end market (THB 35 million and above) has been improving with a total of 13 high-end villas sold.

Nine villa projects were launched in the first half of the year, two of which belonged to the High-end segment with price between THB 35 – 90 million. The other seven projects belonged to the lower-end segment with prices below THB 35 million.

Condominiums & Apartments

A total of 570 condominium units were sold in H1 2019, increasing by 24.5% Y-o-Y.  

90% of the condominium sold in the first half of 2019 were investment-oriented products that offered some form of rental management or yield guarantee. 

Decline in Chinese tourist arrivals has not significantly affect condominium sales, but stronger Thai baht can further limit purchasing power of foreign buyers.

Three new resort condominium projects were launched in H1 2019: MGallery Residences MontAzure Lakeside, The Marin Phuket and Oceana Surin. Most units sold are priced below THB 8 million.

Click here to download the CBRE Phuket Residential, H1 2019 Report

For more information about the Phuket market or to discuss the report phone or email Associate Director, Research and Consulting at CBRE Thailand Rathawat Kuvijitrsuwan via the contact details below

Source: CBRE

Similar to this:

Thai government drives tourism to Phuket with second airport amid declining tourist numbers

Mixed results for Phuket residential property sales

Phuket - a market-driven by rental-returns