Phuket on the rise: Capstone invests 4 billion baht in Peylaa!

Phuket on the rise: Capstone invests 4 billion baht in Peylaa!

There is a lot happening in the real estate sector in Phuket! Development company Capstone Asset Co has big plans for the picturesque island, which is becoming increasingly trendy not only among tourists but also among investors. The company has launched its latest project, Peylaa Phuket, which includes both a luxury residential concept and a hotel.

Peylaa Phuket will be a real highlight on the Bang Tao coast, close to the popular lifestyle hub Laguna and Boat Avenue. Here, buyers can expect high-quality Autograph Collection Residences worth a total of 4 billion baht and an associated hotel worth 1.5 billion baht. A total of four commercial shophouses will be built at a cost of 30 million baht each. With such an investment, it is clear that Phuket is establishing itself as an attractive market for residential and rental investments, which Capstone CEO Titiwat Kuvijitsuwan reiterates: “Phuket is more than just a popular tourist destination, it is attracting more and more long-term stays from business professionals, remote workers and retirees.” Bangkok Post reports increasing demand in housing construction, requiring developers to offer differentiated products.

The specifics of the project

Peylaa Phuket will be the first Autograph Collection Residences in the Asia Pacific region and the 15th in the world. This type of residential unit stands out due to its individual design and high construction quality. Innovative features such as strategically placed Wi-Fi routers and installations of sprinklers and smoke detectors are particularly important in Capstone's design to meet Marriott's needs. 400 units are planned with generous sizes ranging from 45 m² for 1-room apartments to around 86 m² for the 2-room versions. Prices start at 7.2 million baht, which underlines the attractiveness of these living spaces. Nation Thailand emphasizes that access to beaches, wellness destinations and attractive leisure activities rounds off the offer.

Construction on Peylaa Phuket is expected to begin as early as next month and unit sales could reach 70-80% ahead of the planned completion in 2027. Further strong evidence of the growth and attractiveness of the Phuket market.

A look at the real estate landscape in Phuket

As Charles Del notes, Phuket is not only a well-known destination, but has actually become the leading location for branded residential property in Asia. Around 60-70% of residential property purchases here come from foreign buyers, who are often willing to pay cash. Tourism is a key driver of the real estate market, and increasing demand has resulted in land and property prices increasing by over 600% since 2005.

Large villas are particularly popular with foreign buyers, with Russian buyers accounting for around 70% of all purchases in 2023. Chinese buyers, on the other hand, are more interested in holiday apartments or rental complexes. Phuket is also attracting more and more digital nomads and families looking for a balanced lifestyle and suitable schools.

In summary, there is huge potential in the real estate sector in Phuket right now. Capstone Asset Co is well positioned to meet this growing market with Peylaa Phuket and other planned projects. Anyone looking for a new home or a lucrative investment should keep a close eye on developments.