The dynamics of the Phuket real estate market growth over the last three years!
Let's take a closer look at the Phuket real estate market, adding statistical data and percentages to provide a complete overview of the price dynamics and demand over the past years.
2022: Property price increase: A steady growth of 5% to 10% annually was observed, varying by area and property type. Land prices: Varied significantly depending on location, with the highest prices in areas close to beaches and major tourist zones.
2023: Cost of construction increase: A rise of 6.2% compared to the previous year, leading to an increase in the final cost of real estate. Average apartment prices: Ranged from 105,000 to 130,000 Thai baht per square meter, depending on location and construction quality.
2024 (Forecast): Expected price growth: Property prices are expected to continue rising at a rate of 7-10% per year, depending on economic conditions and tourist influx. Demand and supply: With an increase in tourist numbers, demand for rentals is expected to keep market prices at a high level. Changes in the investment climate: New trends may emerge, such as increased demand for environmentally friendly and sustainable projects, which could affect pricing and supply.
In conclusion, the Phuket real estate market has demonstrated growth and stability in recent years. Investors and buyers should expect the trend of rising prices to continue, especially in popular and exclusive locations. However, potential buyers should be cautious and thoroughly study the market, taking into account all possible economic and political variables that could impact the market in the future.
Join our 
Telegram channel today – unlock personalized consultations and an exclusive assortment of property picks for living and investment from Phuket's trusted developers!