Phuket entered 2026 with the west-coast corridors carrying most of the market’s supply and most of its price. What follows is what MORE Group’s own price lists said at the time, by beach and in baht. It is asking prices for stock on the lists, not an index, and there is deliberately no year-on-year column: Thailand publishes no transaction index for Phuket, and a set of current asking prices cannot produce one.
Price Movements by Area (Q1 2026)
Prices have not moved uniformly. The luxury corridors, Bang Tao, Cherng Talay, Laguna, are pulling the island’s average upward, while mid-market zones like Rawai and Karon are delivering quieter but more accessible appreciation.
| Area | Priced apartments | Rate, THB per sqm | Median unit, THB | Cheapest, THB |
|---|---|---|---|---|
| Patong | 202, in 2 schemes | 234,561 | 11,070,000 | 5,990,000 |
| Karon | 281, in 4 | 192,766 | 9,060,000 | 4,500,000 |
| Bang Tao | 4,589, in 48 | 161,000 | 7,017,150 | 1,800,000 |
| Kamala | 699, in 7 | 156,200 | 7,723,650 | 4,248,640 |
| Surin | 108, in 4 | 155,000 | 9,150,000 | 4,410,000 |
| Kata | 1,048, in 6 | 152,000 | 6,273,725 | 2,990,000 |
| Naithon | 75, in 2 | 147,740 | 6,786,840 | 4,370,460 |
| Mai Khao | 39, in 1 | 145,313 | 10,000,000 | 9,300,000 |
| Rawai | 1,291, in 15 | 145,000 | 6,818,000 | 3,032,320 |
| Layan | 1,901, in 16 | 143,437 | 6,720,000 | 2,985,000 |
| Nai Yang | 530, in 7 | 142,107 | 5,933,500 | 1,849,000 |
| Nai Harn | 277, in 3 | 125,000 | 6,480,000 | 2,600,000 |
| Wichit, inland | 374, in 4 | 111,786 | 3,420,000 | 2,490,000 |
| Kathu, inland | 244, in 4 | 108,214 | 3,310,000 | 1,450,000 |
| Chalong, inland | 396, in 2 | 98,550 | 3,430,000 | 2,671,200 |
Source: MORE Group’s own project price lists. Asking prices for stock currently on the lists, not transacted prices and not an index. The last three rows are grouped by where the buildings stand rather than by the beach label our records carry, for the reason given below.
Three things in that table are worth more than any percentage change would have been.
Patong carries the dearest metre on the island, and almost none of the stock. 234,561 THB per square metre across 202 units in two off-plan schemes. That is a reversal of what this page said in its previous revision, which put Patong cheapest at 114,610 across 819 units. The 819 was wrong: seven of those nine schemes stand in Kathu and Wichit, five to twelve kilometres inland, and were filed against the Patong beach label in our own project records. Separated out, they are the three inland rows at the foot of the table, and they hold every one of the 581 units under 5,500,000 THB that used to be counted as Patong.
That mislabelling is worth more to a buyer than the price it obscured. The inland stock is a resident-tenant market, four units in five under 35 square metres, letting monthly to the workforce that serves Patong and Phuket Town. Beachfront Patong is off-plan, 53 square metres at the median, and lets nightly. They are different assets and they were being averaged together.
The second column is the one that decides an exit. Bang Tao holds 4,589 of the island’s priced apartments and Surin 108. Whatever either is worth per metre, only one of them has a set of comparables behind it when you come to sell.
Rental Yield Performance
Rental yield is what most investment buyers come for, and it is the one part of this market that nobody measures publicly. The two inputs it needs, occupancy and the rate actually achieved, exist only in the books of individual management companies; no Thai agency gathers them and no index publishes them. So a yield quoted by area, on this site before this revision as much as anywhere else, was arrived at by assumption rather than by measurement.
What can be said without inventing anything:
- A managed programme and a self-managed listing are different products, and the difference between a competent manager and a poor one inside the same building is larger than any gap between beaches.
- The season is real and it is asymmetric. December to March carries the year on the west coast, which is why an annual average conceals more than it reports and a month-by-month statement is the only useful form.
- Format matters more than postcode for lettability. Below roughly 35 square metres a unit depends entirely on nightly letting, because Phuket’s monthly tenants largely will not take less; above it, both channels are open.
- The number to ask for is a document, not a percentage: twelve months of owner statements for a comparable unit in the same building, from which commission, common area maintenance, the reserve, vacant-month utilities, furnishing replacement and Thai tax come out before anything is yours.
The introduction of guaranteed yield programs, notably VIP Property’s 6% hotel-licence-backed scheme on Tropika (Bang Tao), is attracting buyers who prioritise income predictability over maximum yield upside. These programs underwrite a fixed return for a defined period, typically 3-5 years, with clear legal backing through the Thai hotel business licence structure.
New Supply Entering the Market
Several high-profile projects are delivering or breaking ground in Q1-Q2 2026:
- Skypark Elara Lakelands (Laguna): 220 units delivering October 2026, $265K-$1.52M
- Laguna Seaside Residences (Choeng Thale): 50 beachfront units, Q1 2026 handover
- VIP Venus Karon (Karon Beach): 214 units, October 2026
- Botanica Hythe (Bang Tao): 288 units, Q4 2025-Q4 2026 phased delivery
- Laguna Lakelands Masterplan: $2B multi-phase development, first phases under construction
Supply is concentrated in the $200K-$600K band, the sweet spot for international investment buyers, which is tightening availability and supporting prices in established zones.
What This Means for Foreign Buyers
For yield-focused investors: Entry windows in Rawai and Karon still offer $90K-$130K starting prices with 6-8% gross yield potential. The risk-adjusted case for these areas has strengthened as Bangkok and Bali continue to trade at lower yields with comparable or higher entry costs.
For lifestyle buyers: Bang Tao and Laguna remain the benchmark for branded-residence quality and rental programme credibility. Prices have moved, but the long-term capital growth story (5-8% annual appreciation over 5+ year holds) is intact.
For off-plan buyers: Pre-construction discounts of 20-30% versus projected completion pricing remain available on projects with 2027-2028 delivery. The critical due diligence point is developer track record, more important in 2026 than in any previous cycle, given the volume of new entrants to the market.
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MORE Group’s Market View (March 2026)
The fundamental case for Phuket remains strong: tourism arrivals are tracking above 2019 pre-pandemic records, the Thai baht has stabilised, and developer pipeline quality has improved markedly over 2022-2023 levels. Key risks to monitor include baht appreciation compressing USD-denominated returns, and any oversupply signals in the mid-market condo segment in Rawai and Patong.
For buyers with a 3-5 year horizon and $150K-$400K budget, the current market offers a range of credible options with documented developer histories. We recommend prioritising foreign-quota availability, verified rental management contracts, and title deed type (Chanote is the gold standard) in any due diligence process.
Frequently Asked Questions
Yes. Prime areas like Bang Tao and Cherng Talay saw 7-8% year-on-year price growth in Q1 2026. More affordable zones like Rawai and Patong grew at 3-4%. Overall, the market is in a healthy appreciation cycle driven by international demand and constrained beachfront supply.
There is no published average, because occupancy and achieved rates for individual condominium units are not collected by any public body in Thailand. A guaranteed-return programme is a different thing: that is a contract, and what matters there is what the percentage is calculated on and which company is liable for it. For an ordinary purchase, build the figure from a year of the manager's own statements on a like-for-like unit in that building.
For buyers with a 3-5 year+ horizon, yes. Entry prices are higher than 2020-2022 lows, but the combination of rental yield, capital growth (5-8% annually in prime areas), and lifestyle utility still outperforms most European and US markets on a risk-adjusted basis.
Bang Tao and Laguna lead on capital growth and rental credibility. Rawai and Karon offer the best yield-to-entry ratio at lower absolute prices. Kamala and Surin balance lifestyle premium with solid occupancy. The 'best' area depends on your budget, hold period, and income vs. appreciation priority.
Ask for audited owner statements from the last 2-3 years, not developer brochures. Check whether the yield is guaranteed (hotel licence backed) or projected. Review the management contract for fee structure, owner-week terms, and renewal conditions. MORE Group's team reviews all rental contracts as part of the free due diligence process.
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Maksim Shchegolev
Phuket Real Estate Experts
The MORE Group team has helped 500+ European and American buyers purchase property in Thailand. We provide legal support, 0% commission, and on-the-ground expertise with 8 years in the Phuket market.
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