Mr. Kromchet Vipanpong, Chief Executive Officer of AssetWise Public Company Limited, said Phuket is transforming from a seasonal tourist destination into a global hub and permanent residence for foreigners, especially buyers from Europe and Russia. With passenger numbers reaching 3 million, and foreign arrivals to the island for tourism and relocation reaching as high as 3.8 million, this reflects strong foreign purchasing power. Phuket's premium real estate market has a stronger financial structure than Bangkok because foreign buyers make down payments of 25% to 50% in advance and purchase with cash in accordance with the law, making the loan rejection rate almost zero. Completed projects have sales and transfer rates as high as 96%, as does the Serenity project, which has sales of 87% and transfers of 83%, while new projects such as Kimbara have sales of 24% and will rise according to the sales launch cycle. Other supporting factors include the growth of international schools with 6,000 to 7,500 students, Michelin Guide restaurants, five yacht marinas, and one deep-water port accommodating more than 1,500 yachts and cruise ships per year, as well as the Phase 2 expansion of Phuket Airport to accommodate 18 million passengers per year, with construction expected to begin in 2028 and services to open in 2031.
Assetwise Public Company LimitedPhuket's transformation into a global hub with strong foreign purchasing power boosts demand for AssetWise's premium real estate projects.
