Phuket's luxury real estate: The new destination for billionaires!

Phuket's luxury real estate: The new destination for billionaires!

Phuket, the small village with big dreams! The Thai island is increasingly becoming a trendy lifestyle destination, attracting not only tourists but also international investors and billionaires. How MGR Online reports, Phuket is being hailed as a “Global Coastal Destination” and a standout example in this context is Garden Atlas, led by Torasak Chai-Chuen. This Thai developer and visionary specializes in positioning Phuket as the “Monaco of Asia.”

Torasak knows the culture and way of life in Phuket like the back of his hand. For over 20 years he has viewed the island as a hotspot for ultra luxury living and has developed five key concepts to operate successfully in the global market. These concepts include local insights combined with a global mindset, early market shaping and a deep understanding of the needs of ultra-rich customers.

A look at the premium properties

Phuket is not only a magnet for luxury lovers, but also a place where innovative architecture meets high-quality standards. Loud OceanWWP The demand for ultra-luxury properties that offer smart home technologies can attract more and more buyers, both for personal use and as an investment. After the pandemic, the market is experiencing a real boom: families and digital nomads from all over the world are looking for a high quality of life in an environment that also offers excellent international schools.

The most popular locations to delve into the world of expensive real estate are Layan, Bang Tao, Surin and Kamala. These locations not only offer exclusive amenities such as private beach access and personal chefs, but also a distinctive lifestyle that promises stability and high return potential.

Price development and future prospects

The prices for land in Phuket are constantly rising, and not without reason. Land costs have increased from THB 15 million in 2020 to THB 20 million in 2023. This speaks for the strong demand and limited availability of luxury building plots. In addition, the introduction of the Long-Term Resident (LTR) visa has further fueled demand for luxury properties.

The Thai government is offering incentives for foreign investment, including reduced transfer fees and tax breaks. This has been instrumental in establishing Phuket as a premier destination for real estate investors worldwide.

Buyers looking for a worthwhile investment can choose from a variety of new residential complexes and villas. For example, in Bang Tao Beach there is a 5-bedroom villa from $1,580,000 and in Choeng Thale there is even a luxury 4-bedroom villa from $1,213,000. Whether you want to live in a modern apartment or an exclusive villa, the choice is huge - with a variety of modern amenities.

So anyone interested in investing in Phuket should take advantage of local market knowledge and tailored search services to avoid missing out on the best opportunities. Tranio has an attractive range of new residential projects that offer promising return opportunities.