1,070 condominiums and 155 villas were sold in the whole of 2017. Villa sales improved by 21% Y-o-Y, but condo sales were subdued due to limited launches.
Property sales were also concentrated in investment-oriented or income-producing products for both villa and resort condominiums. Investors preferred resort condominiums because of the lower lump-sum price and ability to rent out. At least 80% of condominium units sold came from projects with rental guarantees and lumpsum prices of less than THB 5.5 million.
Thais, European expatriates, and Chinese are the top buyers of Phuket resort property. There will be more hotel-branded residential development as branded management has become a more sought-after criterion by purchasers for their rental guarantee schemes.
