PHUKET, THAILAND – Demand for rental properties significantly outweighs buying interest in Phuket, new market analysis reveals.
An in-depth analysis of over 54,628 genuine inquiries has painted a clear picture of Phuket’s property landscape, highlighting a strong preference for rentals over ownership. The study, conducted between December 2025 and May 2026, shows that a substantial 71 percent of potential buyers and renters are seeking to lease properties, with the median monthly rent standing at 35,000 Baht. In contrast, the median proposed purchase budget is 7.5 million Baht.
Genuine Inquiries Instead of Forecasts
The findings from the Phuket Property Exchange, presented by FazWaz, go beyond typical market reports. Instead of relying on sentiment surveys or speculative calculations, the company compiled concrete purchase and rental requests. These numbers, sourced from a network of platforms including Thailand-Property and Dot Property, encompass 1,258 projects across the island, representing genuine interest from individuals who have specified their budgets. The total expressed buying willingness amounts to 272 billion Baht.
The data shows that out of the 54,628 inquiries, 39,042 were for rental properties, while only 15,586 were for purchases, a ratio of 2.5 to 1. This confirms Phuket’s status as a rental market. The core of this activity lies in the mid-price segment, with half of all rental inquiries seeking accommodation at or below 35,000 Baht per month.
20 Percent Rent Increase – And It’s Here to Stay
The median rent experienced a notable increase during the observation period, rising from 33,000 Baht in December 2025 to 40,000 Baht in April 2026, stabilizing at 38,000 Baht in May. This represents an approximate 20 percent surge in rental prices. Michael Kenner, CEO of FazWaz, described this trend as a “permanent movement.”
Unlike a fleeting seasonal fluctuation, the rental prices did not revert to their initial levels. Coupled with the fact that 71 percent of overall demand is for rentals, this development serves as a crucial signal for investors. The rental performance of properties is now the central consideration for any return on investment.
62 Percent of Inquiries from Abroad
Phuket is a truly global market, with 62 percent of all interested parties originating from 141 different countries. The largest international groups hail from the United States, the United Kingdom, and Russia. Thailand itself accounts for the largest single contingent of demand, with 20,930 inquiries, representing 38 percent of the total.
While volume and budget data tell different stories, Thai buyers exhibit the second-highest median purchase budget at 10 million Baht, narrowly surpassed by those from the UAE (15.5 million Baht). Buyers from English-speaking countries have median budgets between 6 to 8 million Baht, while Hong Kong’s figures align with the Gulf region at 11.6 million Baht. Kenner commented, “Knowing where demand comes from is a price signal. It tells you what to build and how to price it.”
Choeng Thale Leads, Every District Has Its Profile
Demand is concentrated in specific areas. Choeng Thale, encompassing Laguna, Bang Tao, and Layan, attracts the most attention with 6,628 rental and 3,326 purchase inquiries, accounting for approximately 18 percent of all requests. Rawai and Nai Harn follow, notable for their strong villa segment and long-term renters.
Patong and Kathu function as yield corridors with a high proportion of studio rentals (37 percent of rental inquiries). In contrast, Si Sunthon, located inland, shows a different pattern: 43 percent of rental inquiries are for three-bedroom houses, and condominium prices are the most affordable on the island at 32,669 Baht per square meter. Kenner summarized this observation by stating, “Geography is product.”
March Effect: When High-Spending Buyers Strike
In March 2026, purchase inquiries doubled compared to January, and the median purchase budget surged from 6 million to 14 million Baht. The share of the most affordable segment (under 5 million Baht) decreased from 42 percent to 21 percent. Simultaneously, the 10 to 20 million Baht bracket tripled its share from 18 percent to 53 percent.
By April, both these figures had largely returned to their previous levels. A cohort of high-spending prospective buyers entered the market for a single month. For sellers and project developers, March represents a key window for high-value sales.
What Buyers Are Really Paying
The median purchase budget for all 15,586 purchase inquiries is 7.5 million Baht. Condominiums dominate this segment with 8,094 inquiries, followed by houses and villas (4,920). One-bedroom units lead the purchase list with 3,696 interested buyers, closely followed by two- and three-bedroom variants.
Actual per-square-meter prices vary significantly. Condominiums in Choeng Thale command around 126,600 Baht per square meter, nearly four times the price of condominiums in Si Sunthon (32,669 Baht). The island’s average for condominiums is 91,757 Baht per square meter, while for houses and villas, it stands at 56,666 Baht.
New Supply Slows Down
Following a construction boom between 2021 and 2025, which saw 45,066 new residential units launched with a total value of approximately 470 billion Baht, the pace of new construction is decreasing. Colliers Thailand forecasts only 6,000 to 8,000 new condominiums for 2026.
Concurrently, FazWaz data indicates sustained high demand, exceeding 54,000 inquiries in just six months. This imbalance between shrinking supply and stable demand is creating a structural upward pressure on the market.
The Seven Core Messages from the Data
1. Phuket is a rental market – 71 percent of inquiries.
2. The mass market dominates with a median rent of 35,000 Baht.
3. 62 percent of demand originates from 141 countries.
4. Each district has its own demand profile; geography is product.
5. Purchase budgets are at a median of 7.5 million Baht, assessed by median, not average.
6. Prices follow the west coast, with condominiums in Choeng Thale leading.
7. New supply is slowing, while demand remains high.
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