Phuket has long been a favorite destination for expatriates seeking a better quality of life, lower living costs, and a tropical lifestyle. As more expats continue to settle on the island, Phuket real estate agency are witnessing a shift in the demand for properties, which is reshaping the market.
1. Increased Demand for Long-Term Rentals
With more expatriates choosing Phuket as their permanent or semi-permanent home, the demand for long-term rental properties has surged. Areas like Cherng Talay, Rawai, and Kata are increasingly popular among expats who seek a quiet, residential environment away from the hustle and bustle of the island’s tourist hotspots. Real estate agencies are reporting high demand for condos, townhouses, and villas that cater to expatriates, with many agencies offering rental services designed specifically for the expat market.
2. Investment in Residential Communities
In response to this growing expatriate community, many developers are investing in residential communities that cater to long-term foreign residents. These developments offer a range of amenities, including international schools, fitness centers, coworking spaces, and social clubs, all tailored to the expat lifestyle. Real estate agencies in Phuket are helping expatriates find these developments and providing guidance on how to make the most of their investments in Phuket’s real estate market.
3. Growth of International Schools and Services
As the expatriate community in Phuket grows, so too does the demand for international schools, medical services, and community-oriented services. Real estate agencies are advising expats on the best neighborhoods to live in, considering factors such as proximity to schools, hospitals, and expat-friendly amenities.
4. Increased Foreign Ownership
Phuket’s popularity among expatriates is also driving demand for properties that allow for foreign ownership. Real estate agencies are increasingly helping expats navigate the complexities of property ownership, guiding them through the purchase process and helping them establish the necessary legal structures for owning land or property in Thailand.
5. A Shift Toward Sustainable Living
Expatriates moving to Phuket are often attracted to sustainable living practices. As a result, real estate agencies are seeing increased demand for properties with green features, such as solar panels, energy-efficient appliances, and eco-friendly construction materials. Many expats prefer to live in homes that align with their values, making sustainability an important consideration for real estate agencies.