The Phuket Property Market in 2026: 6 News Stories That Matter to a Buyer

Two things are happening on Phuket at the same time: significantly more new projects, and fewer completed ones.

In the first half of 2026, the number of new condominium launches rose by 44.8% compared with the second half of 2025. Over the same period, only 1,196 units were completed — 56.8% fewer than in the previous half-year.

At first glance these figures seem to contradict each other. But together they describe the current situation fairly precisely: the market remains active, developers are actively bringing out new projects, yet the path from a sleek presentation to a finished apartment has become the main subject of scrutiny.

This is not a story about 'Phuket is growing — buy urgently.' Nor is it proof that the market has stopped.

It is a story about a market maturing, where the quality of choice is becoming more important than the quantity of offers.

1. New condominiums up 44.8%

According to CBRE, the number of new condo launches in the first half of 2026 increased by 44.8% versus the second half of 2025. Large public developers continue to play the leading role in shaping new supply.

Source: CBRE Thailand — Phuket Overall Figures H1 2026

For buyers this means more options across locations, formats, construction timelines and budgets. But a wide choice also creates a new problem: projects start competing not only on quality but on promises.

What is increasingly appearing on the market:

• special starter prices;
• instalment plans during construction;
• guaranteed-yield programmes;
• Rental Pool schemes with different revenue-sharing principles;
• promises of price growth by project completion;
• concepts with an international hotel brand.

The mere presence of these conditions does not make a project good or bad. The question is what stands behind the marketing wording.

For example, a stated yield may turn out to be:

• projected, not guaranteed;
• calculated on gross income;
• limited to a specific period;
• available only if the unit is handed over to a management company;
• not accounting for maintenance, repairs, taxes and other owner costs.

What to check

When comparing new builds, look beyond the price per square metre and the renders. You need to compare:

1. The legal structure of the project.
2. The developer's rights to the land plot.
3. Building permits and approvals.
4. The developer's completed projects.
5. Actual handover timelines of previous deliveries.
6. Contract terms in case of construction delay.
7. The full cost of owning the unit.
8. The realism of the rental model.
9. The number of similar units within the complex itself.
10. Possible competition on a future resale.

The more projects reach the market, the less reliable the principle of 'picking the prettiest one' becomes.

📊 Compare Phuket new builds by developer and timeline — on WhatsApp with Viktor Garmashov

2. Completed projects down 56.8%

In the first half of 2026, only three projects comprising 1,196 units were completed on Phuket. According to CBRE, this is 56.8% fewer than in the second half of 2025.

CBRE notes that a number of projects faced delays or were not yet ready for handover to buyers.

Source: CBRE Thailand — Phuket Overall Figures H1 2026

This does not mean that any off-plan project will necessarily be delayed. The number of completions can fluctuate from half-year to half-year due to the construction schedule of large complexes.

But the statistics remind us of something important: the completion date in a presentation is not yet a guarantee that the unit will be handed over on exactly that day.

Why track record becomes critical

A buyer should find out:

• how many projects the developer has already completed;
• whether they were delivered on the stated dates;
• whether the finished result matches the original concept;
• how the developer acted during delays;
• whether buyers' ownership rights were registered;
• who is responsible for operating the complex after completion.

Be especially cautious with the formula 'the team has extensive experience' if that experience belongs not to the developer company itself but to individual employees, contractors or partners.

What should be in the contract

Before purchase, check:

• the exact completion and handover date;
• the permissible construction extension period;
• the procedure for notifying the buyer;
• the parties' liability in case of delay;
• grounds for terminating the contract;
• the procedure for refunding funds;
• description of the unit, finish and fittings;
• the possibility of changes to the layout or project infrastructure.

What you check must be the legally binding contract, not just a presentation or correspondence with the seller.

3. Airport passenger traffic dipped slightly

In the first half of 2026, Phuket International Airport handled 4.39 million arriving passengers versus 4.46 million in the same period of 2025. The decline was about 1.4%.

Source: CBRE Thailand — Phuket Overall Figures H1 2026

Here it is important to use the precise wording. Airport statistics reflect the number of arriving passengers, not necessarily the number of unique foreign tourists: they may include domestic passengers, island residents and repeat trips.

Nevertheless, it is a useful indicator of tourism dynamics.

And it is precisely such data that makes market analysis more honest.

Not every piece of news about Phuket has to end with 'buy urgently'. Real estate market activity can persist even against a modest decline in passenger traffic.

The reasons for property demand are broader than short-term tourism. Apartments are bought:

• for holidays a few months a year;
• for permanent living;
• for relocating a family;
• for long-term rental;
• to preserve capital;
• for later resale;
• to join a hotel programme.

But if a unit is bought specifically for short-term rental, tourism dynamics cannot be ignored.

4. Hotels hold price while occupancy dips slightly

According to CBRE, the average hotel occupancy on Phuket in the first half of 2026 fell by 0.8 percentage points. At the same time, ADR — the average daily rate of a sold hotel room — rose by roughly 0.9% year on year.

Source: CBRE Thailand — Phuket Overall Figures H1 2026

This paints a more complex picture than simply 'fewer tourists' or 'hotels getting more expensive'. Occupancy dipped slightly, but hoteliers managed to hold and even slightly raise the average room rate.

For an investment-apartment owner this is an important signal, but not a ready-made yield forecast.

A hotel ADR is not a condo's yield

A hotel ADR does not show:

• how many days a specific apartment will be rented;
• what commission the operator will take;
• who pays for cleaning and maintenance;
• what expenses will be deducted before revenue is shared;
• whether the unit is part of a shared Rental Pool;
• how revenue is distributed between owners;
• how much the owner receives after all costs.

Therefore an investment-apartment calculation must account simultaneously for:

• a realistic average rental rate;
• seasonal occupancy;
• idle periods;
• the management company's commission;
• operating expenses;
• repairs and furniture renewal;
• taxes;
• the owner's personal-use terms.

If a presentation says 'yield up to 10%', the first question should not be 'how quickly can I sign?' but '10% of what, and after which costs?'

📈 Get an honest rental yield calculation for a Phuket condo — on WhatsApp with Viktor Garmashov

5. Thai AirAsia resumes Suvarnabhumi flights to Phuket

Thai AirAsia has announced that from October 1, 2026 it will resume domestic flights from Suvarnabhumi airport. Among the first destinations are Phuket, Chiang Mai and Krabi.

According to the published schedule, up to five flights a day are planned between Suvarnabhumi and Phuket. The airline is scaling domestic capacity ahead of the high season.

Source: The Nation — Thai AirAsia returns to Suvarnabhumi on October 1

For international travellers this is convenient: Suvarnabhumi is Bangkok's main international airport, so some passengers can continue to Phuket without transferring to Don Mueang.

Better connectivity supports the island's tourism and business accessibility. However, a new route on its own does not prove future property-price growth or rental yield.

Airlines adjust frequencies based on fuel costs, season and demand. So a transport news item is sensibly read as a positive infrastructure signal, not as a basis for an investment calculation.

6. Scrutiny of nominee structures continues

In August 2026, Thai media reported the results of an investigation into suspected nominee structures on Koh Samui.

According to the published data, authorities opened 60 cases linked to 59 companies and 88 suspects. The investigation touches on companies, real estate and business connected with foreigners. These are suspicions and investigations, not an automatic finding that everyone named is guilty.

Sources:

• Bangkok Post — 60 illegal nominee firms found on Koh Samui
• The Nation — Koh Samui nominee crackdown opens 60 cases
• Department of Special Investigation — crackdown on nominee structures

This did not happen on Phuket, but it has direct relevance for any foreign property buyer in Thailand.

If a foreigner is offered to set up a Thai company solely to hold land, and the Thai shareholders are only nominal, the phrase 'everyone does it' does not make the structure lawful.

At the same time, not every Thai company with foreign participation should be considered suspect. A real operating business with genuine shareholders, capital, activity, accounting and a distribution of authority is not the same as a shell company set up only to bypass restrictions.

Which options need to be distinguished

Foreigners may buy apartments in registered condominiums in freehold, provided the law's requirements and the foreign quota are met. According to the Department of Lands, foreign ownership must not exceed 49% of the total area of all apartments in the condominium.

Source: Department of Lands — Registration Services Guide

Other structures — for example leasehold, owning a building separately from the land, or buying through a company — require independent legal review. Their safety depends not on the scheme's name but on the documents, the actual relations between the parties and the purpose of the transaction.

The lawyer for such a purchase should be chosen by the buyer. A review only by a specialist recommended by the seller or developer is not fully independent.

⚖️ Have a Phuket deal's legal structure checked — on WhatsApp with Viktor Garmashov

What unites these six stories

The main trend of the Phuket market in 2026 is not simply growth or decline in individual indicators.

The market is becoming more competitive and professional:

• more new projects are coming;
• timelines and the developer's ability to complete construction matter more;
• tourism dynamics are no longer automatically rising;
• yield must be calculated through ADR, occupancy and expenses together;
• transport accessibility is improving but does not guarantee property-price growth;
• legal structures are under closer scrutiny from the authorities.

For a buyer this means a shift from choosing 'by the picture' to a full review of the project.

Buyer's checklist for Phuket property

Before paying a deposit, get answers to at least ten questions:

1. Who is the legal developer?
2. What projects has this company already completed?
3. On what basis does the developer use the land plot?
4. Which permits have already been obtained?
5. What happens under the contract if construction is delayed?
6. In what form will the buyer's right be registered?
7. Is the foreign quota available for the chosen unit?
8. Is the yield a guarantee or a projection?
9. Does the calculation show a gross or net result?
10. How many similar units will reach the rental and resale market at the same time?

If the seller cannot give clear, documented answers, an extra discount or a gift does not remove the risk.

Frequently asked questions

Does the rise in new launches mean the Phuket market is overheated?

A single figure is not enough for such a conclusion. The rise in launches shows growing supply, but you also need to assess sales, construction pace, buyers' willingness to pay the asking prices, and the volume of future completions.

Should I avoid buying off-plan because fewer projects were completed?

Not necessarily. Off-plan can offer a convenient payment schedule and the pick of the best layouts. But you need to check the developer's track record, documentation, and the contract terms in case of delays.

Is a 1.4% drop in passenger traffic a bad signal?

It is a modest decline over a single period, not proof of a long-term downturn. The figure should be read together with hotel occupancy, ADR, the geographic mix of tourists, and high-season dynamics.

If ADR is rising, will my condo's income rise too?

Not necessarily. An owner's income depends on the specific unit's occupancy, the operator's commission, expenses, the Rental Pool formula, and the terms of the owner's personal use.

Can a foreigner buy land through a Thai company?

Setting up a company with nominal Thai shareholders solely to bypass restrictions carries serious legal risks. The legality of any corporate structure must be checked with an independent Thai lawyer, considering its real activity and documents.

Conclusion

The Phuket property market remains active. Developers are launching more projects, airlines are expanding the island's connectivity, and the hotel sector continues to hold its rates.

But at the same time the number of completed apartments is shrinking, tourism dynamics are becoming less straightforward, and the authorities are increasing scrutiny of dubious corporate structures.

Therefore the key skill of a buyer in 2026 is not being the first to reserve an apartment.

The key skill is telling a beautiful offer apart from a properly prepared property.

The Jungle House team helps compare projects not only by price and renders, but also by the developer's history, legal structure, full cost of ownership, rental model and resale prospects.

If you are choosing between several projects on Phuket, send us the names or presentations. We will break down how the offers actually differ and which questions to ask before paying a deposit.

🏠 Compare Phuket projects before paying a deposit — on WhatsApp with Viktor Garmashov

This material is informational and is not individual investment or legal advice. Project terms, flight schedules, the foreign quota and legal requirements can change. Before a transaction, an up-to-date document check and a consultation with an independent specialist are necessary.