Sansiri indicates that foreigners account for 70% of Phuket's real estate market, and is planning to launch 7 more luxury pool villa and condo projects.

Sansiri unveils its 5-year plan to aggressively expand its Phuket real estate portfolio, aiming for 80,000 billion baht. Kicking off the second half of 2569 with the launch of 7 new projects totaling 7,000 billion baht, the company will focus on luxury pool villas targeting international demand. This follows strong first-half sales in Phuket exceeding 3,000 billion baht, a 20-30% increase. Sansiri plans to expand its customer base across the island, while also targeting Thai buyers who are transitioning from renting to purchasing. The company affirms it is undeterred by fierce market competition due to its strong local customer base and team.

21 July 2569 – Mr. Phumchai Mathayomphobpinyo, Managing Director of Southern Project Development Business Group, Sansiri Public Company Limited Sansiri has revealed its direction for the real estate business in Phuket, outlining its 5-year strategic plan (2569–2573) and preparing to launch 30 new projects with a total value of 40,000 billion baht. The projects are divided into 13 low-rise projects worth 15,000 billion baht and 17 condominium projects worth 25,000 billion baht, aiming to boost the accumulated asset portfolio in Phuket to 80,000 billion baht, supporting the city's growth as it transitions from a tourist island to a world-class metropolis.

For its plans in the second half of 2569, Sansiri is preparing to launch 7 new projects with a total project value of 7,000 billion baht. This includes 4 condominium projects, representing approximately 65-70% of the total value, and 3 pool villa or low-rise housing projects. The projects are strategically located across promising areas such as Patong Beach, Samkong, Choeng Thale Soi 3, Pa Sak, Bang Jo, Pru Champa, and Rawai Beach.

Buyer behavior in the Phuket market is diverse depending on target group and location. Thai customers who have relocated from Bangkok or neighboring provinces often start by renting. Once their careers are stable and they become familiar with the local lifestyle, they decide to purchase. Meanwhile, the ownership ratio between Thais and foreigners differs significantly depending on the location. In urban areas such as outside Central Phuket or Kathu, the ratio is 80% Thai and 20% foreign. However, in locations near the beach (within walking distance), which have higher prices, the proportion of buyers becomes as high as 70% foreign and 30% Thai.

Despite the overall highly competitive and challenging Phuket real estate market, Sansiri views this as a positive factor accelerating the development of quality products and competition. Furthermore, the company is not concerned as its current stock of ready-to-move-in projects is very limited, with only slightly over 100 units remaining. For example, The Base Heights Phuket and The Base Central each have only about 30 units left, while Canvas has 40 units. Similarly, its low-rise projects like Anasiri and Setthasiri have only about 40-50 units left each. In addition, the company has a skilled workforce of over 200 people in the area and a landbank of more than 10 plots already secured for future development.

Overall, in the Phuket area during the first half of 2569 (January – June), Sansiri generated approximately 3,000 billion baht in sales and approximately 2,500 billion baht in property transfers. Compared year-on-year compared to the same period last year, both sales and transfers showed growth of around 20-30%, reflecting continued strong purchasing power from both domestic and foreign investors.

Furthermore, Sansiri executives made some interesting remarks regarding the competitive landscape and the company's potential in the Phuket market:

“Increased market competition, while a challenge in one aspect, is also a positive thing that forces everyone to improve. As for Sansiri's real challenge, we're not that worried because we have very little stock left and our team in the field has over 200 people.”

Today, Phuket has demand in every location across the island. Each area has its own character, product needs, and price range. Having our headquarters and being based in the area allows us to understand the insights and be ready to adapt our diverse product offerings to best meet customer needs.

Sansiri remains confident in Phuket's long-term potential, supported by infrastructure developments such as airport expansion, the electric train system, and private sector investment that enhances the residential ecosystem. The company is ready to gradually launch projects according to its planned schedule to create sustainable growth alongside Phuket.

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