According to experts, at the end of 2021, the offer of condominiums in Phuket amounted to 26,068 properties.
During the past year, it was discovered that new condominiums were not put up for sale for the whole of 2021, as developers were in no hurry to resume construction in difficult economic conditions. When tourism had not yet opened in the country and the epidemiological situation remained precarious.
According to statistics, from 2012 to 2021, the main areas of Phuket were identified where real estate was for sale: Patong 15%, Bang Tao 13%, Kamala and Rawai beaches 12%, Surin 10%, Layang 8%, Karon 7%, Kata and Nayang 6%, Mai Khao 5%, Nai Charon 4% and Knighton 2%.
As for demand, at the end of 2021, 20,376 apartments in condominiums were sold out of a total of 26,068 residential units, which is 78.1%, the sales level increased by 2.4% from 75.7% in 2020.
Currently, there are about 5,720 residential units left on sale, the number of new properties sold in 2021 is only 615 residential units. The number of units sold decreased compared to 2020. The number of new residential units sold has been steadily decreasing since 2020 due to COVID-19, which has not stopped for 2 years.
The number of new buildings sold accounts for almost 90% of Russian buyers. The remaining 10% belong to a group of Thais who buy real estate for independent living as a second home.
The average price of condominiums in Phuket at the end of 2021 with a sea view is 196,015 baht per square meter, which is 1.6% more than in 2020, when the price was 192,758 baht per square meter.
As for condominiums without a sea view, the average asking price in 2021 is 76,526 baht per square meter. There is a noticeable slight increase compared to 2021 in the amount of 0.45%, when the average price was 76,184 baht per square meter.
It is expected that in the first half of 2022, the condominium market will have better dynamics, especially from foreign investors.