Phuket's Five-Year Building Boom: 45,000 New Units and 470 Billion Baht Since 2021

A market review tracking Phuket’s residential development between 2021 and 2025 counts more than 45,066 new units launched across the island, with a combined investment value of roughly 469.7 billion baht. The scale of that build-out underlines how far Phuket’s property market has grown beyond its traditional identity as a beach holiday destination, with the analysis framing the island as having become a genuine international investment hub on the Andaman coast rather than simply a resort town with some condos attached.

The pace of launches has not been even across those five years. 2024 stood out as the strongest year by a wide margin, with roughly 18,515 new units launched carrying an investment value of more than 190 billion baht — close to 40% of the entire five-year total landing in a single year. That kind of concentration suggests developers have been reading recent demand as durable enough to justify front-loading supply, rather than spreading launches out cautiously over the period.

Tourism numbers help explain where developers think that demand is coming from. Phuket drew more than 10.47 million foreign visitors in 2025 and over 545 billion baht in tourism revenue, with particularly strong visitor flows from Russia, Australia, India, China and Kazakhstan — largely the same nationalities that show up repeatedly in Phuket’s foreign buyer data. The analysis points to large-scale projects, including branded residences tied to international names, as the vehicles converting that tourist traffic into long-term property investment rather than one-off holiday spending.

Whether five years of launches at this pace can be absorbed without pressuring prices is the open question the figures raise rather than answer. With 2024’s supply surge still working its way through the market and analysts quoted suggesting Phuket pricing could keep closing the gap with Bangkok and other global cities through 2026, the island’s ability to keep converting tourism demand into sustained buying — rather than a shrinking pool of the same nationalities bidding up the same few districts — will determine whether this five-year run extends or stalls.