Phuket was first ‘discovered’ in the late 1970s as a tropical Asian tourist destination, and it wasn’t long before the property business boomed to satisfy those who wanted to spend more time – or all of their time – on the island. Phuket now has some of the most expensive real estate in Thailand out side of Bangkok.
There are some exceptional villas in Phuket, where Bangkok businessmen and expats want to spend all or part of their year. Add to that investors, property and resort developers, and small time businessmen and you realise there’s a lot of competition for limited sea views. If you can settle for something inland, there is plenty of room for everyone, plus plenty of local real estate agents in Phuket to serve your needs. There’s also dozens of projects offering fantastic retirement or investment villas, at prices up to six million dollars, with a steady stream of buyers.
Brief guide to Phuket property and real estate
Prime land in popular areas like Patong, Kata and Kamala was snapped up years ago by Thai entrepreneurs, and is largely given over to resorts and commercial use. Private villas and other property in Phuket are continually under development on the fringes and headlands, such as Kalim Bay (near Patong) or above Kamala or Surin beaches.
Also popular are former tin mining lagoons, some of which have been converted into golf courses with property for sale, and some into pure property developments. Those wishing to make a home in Phuket, but can’t afford to compete with the millionaires snapping up property around the marinas or golf courses, can opt for housing developments inland; for example, around Chalong, just south of Phuket Town.
Others opt to build independently in traditional neighbourhoods, which is the cheapest option, but fraught with challenges. With beachfront and hillside sites near the attractive beaches of the west coat pretty much fully developed, the east coast, which has very few beaches, is today the focus of increasing amounts of property development.