Phuket began as a destination of choice for travelers from all over the world, offering magnificent diving sites and beaches such as Patong, Kata, Karon and Bangtao, as well as warm hospitality services and a multitude of fun activities. Additionally, the cost of a visit to Phuket is only a fraction of what one would expect to pay by international standards.
Over time, Phuket has become a major player in the global real estate market, attracting buyers from all over the world interested in purchasing second homes or making profitable real estate investments. Over the past two decades, Phuket's real estate market has grown significantly and will continue to do so as the region's infrastructure and services improve at a rapid pace.
The limited number of new luxurious villas in Phukethas doubled the price of resale units, as demand is relatively strong in this niche market. An exclusive market with a limited number of high-value transactions. Major players used to be small foreign developers with limited financial backing, but they have been replaced by famous and professional developers. This is important in terms of reduced risks for buyers and an improvement in the quality of villas and designs. Most of the villa sales are in the entry-level segment with prices below 15 million THB (around USD 400 000). Price points have clearly shifted in the past 10 years for successful developments. In 2005, the first phase of Andara Resort & Villas was launched with units priced around 3 to 4 million USD and now resales at Andara are around 6 to 8 million USD. Launch prices of some new luxury projects are often around 10million USD.
