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Phuket Condominium Market 2H 2019

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The supply of newly launched units of condominium market in Phuket in 2019 showed that it declined by 29.7% from the previous year but the average sales rate increased slightly due to both domestic and external negative factors. It has been forecasted that the condominium market in Phuket area will tend to slow down continuously by 2020 due to the overall economic situation with foreign purchasing power being declined. Although in 2019, the number of foreign tourists slightly increased but it was found that the demand did not dramatically increase. Condominiums with guaranteed rental rates are still popular with domestic and foreign buyers.  The areas with high potential and receives attentions from buyers are still in Bang Tao Beach, Surin Beach, Kamala Beach, Nai Han Beach and the surrounding area of Central Festival Phuket.

Developers that will develop condominiums in Phuket in 2020 should target the European or Russia buyers rather than Chinese buyers as Chinese purchasing power tends to decrease dramatically due to the effects of the trade war between the United States and China as well as the weakening of the Renminbi and the spread of the Covid-19 virus, which are predicted to have a huge impact on the Chinese economy in 2020.


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Phuket Condominium Market 2H 2019

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