In 2024, Phuket expects a new record – more than 10 million tourists, who will bring $14 billion to the economy of the small island.
This is the best result among all the provinces of Thailand and the highest in the history of Phuket’s development as a resort.
Most of this amount will go to property owners – hotels and other accommodation options – which, of course, attracts new players to the island. The investment boom has already begun: demand from foreigners, the number of construction projects – all this is growing.
The threshold for entering the liquid real estate market in Phuket is $80-100 thousand. For this money, you can buy a 25-meter studio in a new resort complex near the beaches.
And for $150-200 thousand in Phuket, you can actually buy an apartment in a five-star hotel managed by a global hotel chain – Marriott, Wyndham, Hilton, etc.
The average cost of a square meter of elite branded real estate on the island is 230 thousand baht, or about $6.5 thousand.
For comparison: in Marbella, an object of the same class will cost $13 thousand, in Miami – $19 thousand, and in Dubai – $28 thousand per square meter.