Once a quiet tropical escape, Phuket has become one of Southeast Asia’s most desirable real estate destinations. From sun-seeking retirees to remote-working millennials, the island is no longer just a holiday destination—it’s a serious property hotspot. Behind this surge lies a diversified base of investors, with Thailand and Russia leading the charge, followed by Germany, China, the United Kingdom, and others. Understanding who these buyers are—and why they are here—provides essential insight into the direction the market is heading.
At the top of the list are Thai nationals, who currently represent 18% of the demand. With more Thais looking for second homes or lifestyle investments outside major urban centers like Bangkok, Phuket offers a compelling mix of coastal charm, strong infrastructure, and lifestyle appeal. Local buyers are especially active in luxury villa projects, gated communities, and developments that offer dual-use potential—as both vacation homes and short-term rental income generators.
Chinese and Russian buyers are the largest share of the market
Hot on their heels are Russian investors, who account for 17%. This figure marks a sharp increase over the past two years, largely driven by geopolitical shifts and currency volatility in Russia. Phuket has long been a favorite among Russians for its climate and family-friendly beach resorts, but recent waves of migration have turned this preference into action. Russian buyers are now more likely to buy than rent, often opting for large villas or beachfront apartments in areas like Bang Tao, Nai Harn, and Rawai. The arrival of Russian businesses—such as cafés, schools, and wellness centers—has further fueled this trend.
Chinese buyers, making up 10% of the market, have made a strong return in 2024. After years of pandemic restrictions and outbound travel uncertainty, wealthy Chinese families are looking to diversify their investments abroad. Phuket’s relative affordability, favorable property laws for foreigners (through leasehold and company structures), and its global recognition as a tourism destination make it an attractive bet. Notably, younger Chinese buyers are entering the scene—professionals who are blending lifestyle with smart financial planning, especially in branded residences and resort-style developments with hotel management.
German investors represent 8% of the market and have long viewed Phuket as a secure, lifestyle-driven location. They are typically drawn to high-quality construction, sustainable developments, and areas less trafficked by mass tourism. With strong purchasing power and often a long-term vision, German buyers are more conservative in their approach, focusing on completed projects or those by trusted developers.
The English-speaking market still represents over 15–20%
The English-speaking market—driven by buyers from the United Kingdom (7%), the United States (5%), Australia (4%), and to some extent Singapore—still represents over 15–20% of total demand in Phuket’s real estate sector. This segment remains a cornerstone of the market, attracted by strong rental yields, lifestyle appeal, and the island’s increasing accessibility and digital infrastructure.
The Netherlands and India are both at 3%. Dutch buyers often fall into the lifestyle-driven retiree segment, while Indian buyers are increasingly looking at Phuket as a strategic holiday-investment blend. Italy and Canada follow at 2% and 1.5% respectively, contributing to the diversity of this truly international market.
What unites all these buyers is a growing confidence in Phuket as a secure, appreciating asset. A rising number of off-plan and branded developments are offering buyers guaranteed rental returns, attractive payment plans, and in some cases, buy-back guarantees. The island’s improved infrastructure, hospital and education offerings, and enhanced digital connectivity have also made it easier than ever to live or invest here full time.
In 2024, with tourism fully recovered and direct flights from Europe, Russia, and China back in full swing, Phuket’s property market is not only rebounding—it’s evolving. It is shifting from a speculative, tourism-driven space to a mature, international real estate market. Whether it’s a beachfront condo in Kata, a modern villa in Bang Tao, or a hillside development in Kamala, the demand is strong and coming from every corner of the globe.
As the landscape continues to globalize, developers and investors alike must adapt to the preferences, budgets, and cultural expectations of these varied nationalities. Understanding the mix is no longer just interesting—it’s essential to succeeding in Phuket real estate.
