Phuket's Pipeline of Incoming Residential Investment Reaches US$14 Billion

A tally of residential projects currently in Phuket’s development pipeline puts their combined value at roughly US$14 billion, or about 455 billion baht, spread across 43,481 units in the primary market. That figure captures projects still being built or sold rather than the island’s existing housing stock, giving a forward-looking read on how much fresh supply and capital is queued up behind Phuket’s already large resort property base.

That pipeline is heavily concentrated in a handful of areas. Cherngtalay alone accounts for 21,625 of the units counted, close to half the entire pipeline, with Rawai a distant second at 5,149 units, or about 12%. A geographic split that lopsided means the pace and pricing of new supply hitting the market over the next few years will be shaped disproportionately by how absorption plays out in Cherngtalay specifically, rather than by island-wide demand trends.

Foreign buyers are described as the main force behind that demand, accounting for close to 60% of transactions in the pipeline data. Hospitality supply is expanding in parallel: roughly 5,208 new hotel keys are slated to open between 2026 and 2029, which would bring Phuket’s total hotel inventory to about 102,109 keys within four years. Residential and hospitality development on the island, in other words, appear to be scaling up together rather than one running ahead of the other.

Whether that much pipeline supply gets absorbed without denting prices will depend heavily on whether the foreign buyer demand underpinning today’s figures holds up over the multi-year build-out these projects require, particularly given how concentrated the pipeline is in a single district.