Phuket: a thriving real estate market in Thailand

Over the years, Phuket has become a popular destination for real estate investors, attracting the attention of investors around the world. The island's appeal is undeniable, making it a coveted market for those looking to get their hands on a moldering paradise. According to Phuket News, real estate prices in Phuket have continued to rise since 2023. Real estate has always depended on "location, location, location" and many areas of Phuket are attracting more buyers, especially those closer to the sea. But because it's a small island, it only takes 30 minutes to get from anywhere to the coast. The new road could spark development of land previously considered uninhabitable.

There are several reasons for the real estate boom in Phuket. The island has experienced a noticeable recovery in tourism after the unprecedented challenges posed by the global pandemic. This recovery has revitalized the island's economy, sparking new interest in Phuket as a tourist destination and increasing demand for both short-term and long-term property rentals. VNExpress also noted that the rise of the luxury real estate market in Phuket can be attributed to the strong recovery of tourism and Thailand's attractive visa policy, which entices wealthy individuals to consider the region for investment and residency.

As Thailand experiences economic stability and expansion, Phuket's real estate is benefiting from a positive reflective effect. Investors are drawn to the stability and optimism of the market, making it a favorable environment for real estate. The island is witnessing a surge in new development projects, ranging from residential complexes to commercial spaces, indicating a growing demand for various types of real estate in Phuket. Investors and developers are showing confidence in the island's future potential, driving a wave of innovative and ambitious projects.

In addition to economic factors, the inherent qualities of Phuket as a lifestyle destination play a key role in the attractiveness of its real estate. The island's natural beauty, vibrant culture, and quality infrastructure make Phuket a magnet for those seeking a second home, a retirement getaway, or a refuge in a tropical paradise.

The real estate market in Phuket continues to show stable and consistent demand, making the island a hot spot in the real estate market, full of diverse opportunities for investors who can take advantage of emerging market trends.

That's why Mishari Group Ltd, a renowned international real estatedeveloper, is preparing to revive interest in the potential of Phuket's Karon Beach. Long considered a "sleeping giant", Karon Beach stretches over 5 kilometers of white sand, overlooking the Andaman Sea. The northern end of the beach is usually quiet and uncrowded, making it an ideal destination for those seeking a secluded and private beach experience. Along Karon Beach are the Meliá Phuket Karon Residences, as well as low-density residential developments. These residences are located on the hillside, offering spectacular views of the bay and the crystal waters of the Andaman Sea, providing a unique vantage point from the densely forested surroundings.

“The natural shape of the land and the stunning views of the bay inspired our project,” said Fahim Ahmed, chairman of Mishari Group, a developer with a successful reputation in London and Hong Kong. “We are pleased to present villas with pools and apartments that cater to the growing number of foreign residents choosing Phuket as their permanent or temporary home.”

Residents of this prestigious complex will be able to enjoy five-star services, carefully managed by Meliá Hotels International, a renowned European hotel group. Among the offerings are a large forest spa center, bars and restaurants, a beach club, and a nature park. Karon Beach is just a five-minute ride away thanks to a special shuttle service. Residents can also take advantage of a 70-foot Sunseeker yacht with four bedrooms on board, accommodating 20-30 people.

Ignacio Martin, Executive Director for the Asia-Pacific region of Meliá Hotels International, expressed his excitement about the collaboration with Mishari: "We are pleased to partner with Mishari in developing a collection of villas with pools. This project aligns perfectly with our focus on nature. By combining natural beauty with world-class hospitality, this project will once again demonstrate that Karon Beach will become one of the most sought-after destinations on the island."

With the development of Meliá Phuket Karon Residences, Phuket is strengthening its position as a thriving and attractive destination for real estate. While investors explore opportunities in this tropical paradise, the prospects for growth and return on investment remain strong, painting a promising picture for the future of Phuket's real estate market.