Phuket real estate cools in first half

Condo and villa sales decline sharply in H1

- KANANA KATHARANGSIPORN

Phuket's condo and villa market cooled markedly in the first half of 2025, with both new launches and sales contracting by more than 50% from the same period in 2024, after two consecutive years of peak new supply in 202324.

Siddhipen Siddharthapong, acting assistant director-general of the Real Estate Information Center (REIC), said Phuket recorded the highest level of new residential supply launches, with an initial peak in 2023, followed by another in 2024.

"Although last year saw record-high sales, the surge in new launches also carried over significant unsold inventory into this year, particularly for condos, which now take up to 28 months to sell out compared with no more than 14 months since the second half of 2022," she said.

Last year, new condo launches reached a record high of 14,454 units, more than doubling the 7,106 units launched in 2023, which was a peak at that point in time.

By comparison, launches tallied 475 in 2022, 439 in 2021 and 685 in 2020.