According to experts, the
Phuket real estate market continues to develop, despite the large number of unsold apartments on the island in 2020.
The total number of
condominiums in Phuket at the end of last year was 26,096 units. Only 1,862 new properties entered the market in seven residential complexes. For comparison, in 2019, their number was 5,471.
In 2020, 19,761 housing units were sold in Phuket. There are about 6,335 properties left on the market. However, the number of transactions with
new builds in Phuket was only 1,966 compared to 4,036 in 2019.
The main reason was the lack of foreign tourists due to the pandemic. But even despite the pandemic, which has reduced the flow of tourists, new
apartments in Phuket continue to be put up for sale. Interest in
Property in Phuket will return when the situation returns to normal. Prices for
apartments in Thailand continue to rise, and the authorities of the Kingdom are doing everything possible to attract foreigners.
A huge number foreign tourists who visit Thailand every year
buy apartments in Phuket to secure housing for the duration of their visit to the country, as well as additional income from renting an apartment in
rent in Phuket. Therefore, business in the field of
real estate in Phuket has always aroused a serious interest of investors, including Thai ones, who consider foreign tourists as the main buyers .
