In Phuket, the profile of buyers has shifted notably, with Russian investors emerging as the most active group in the regional market during the first quarter of 2022. Between January and March, Russian purchasers acquired a total of 74 residences, representing a significant portion of the market and contributing to overall transaction values approaching seven million dollars. The Bangkok Post, citing data from the Thailand Property Information Center, highlights this trend as a clear signal of robust demand from Russian buyers in Thailand’s tropical destination market.
During the January to March window, Russian citizens led the tally of property purchases, securing 74 units priced at 245 million baht, roughly seven million dollars at current exchange rates. Following them, buyers from China accounted for 14 transactions valued around 1.5 million dollars, while American buyers completed nine deals totaling approximately 1.4 million dollars. This snapshot illustrates the evolving geography of foreign demand in Phuket and the broader Thai real estate sector, where multiple nationalities contribute to a dynamic, multi-national buyer base.
Historical context shows a shift in who dominates the market. In 2021, Russia ranked second, with China occupying the top position. The change in recent years has been influenced by travel restrictions and public health measures tied to the COVID-19 pandemic, which altered buying activity patterns among Chinese investors and other international buyers. This period of disrupted mobility appears to have redirected some interest toward Thailand’s resort properties, where the appeal of long-term ownership and rental income continues to attract foreign capital.
Experts from leading real estate advisory firms have weighed in on the implications for the condominium segment. Nattha Kahapana, managing director at Knight Frank Thailand, has noted continued enthusiasm among foreign buyers and expects sustained growth in the condominium market. The underlying drivers include stable legal frameworks, appealing return prospects, and the capacity of Phuket’s hospitality-oriented communities to support ongoing demand. Analysts anticipate price appreciation across the region, with credible projections suggesting a rise in average values within a range that remains attractive to international investors seeking steady exposure to Southeast Asian markets.
Additional commentary from regional analytics teams points to a broader pattern of foreign ownership integration into the market. Observers emphasise that foreign buyers have tightened their portfolios to include high-quality developments with reliable management and strong rental potential. The confluence of regulatory clarity, foreign-trade-friendly policies, and the appeal of a well-established tourism corridor helps explain why a portion of Dubai’s real estate, among other markets, signals similar interest among international investors. While some markets experience fluctuations, Phuket continues to attract attention from international capital seeking diversification, growth in asset value, and the potential for stable, long-term returns across a resilient property sector.