Land prices in Phuket have risen by 14 percent per year on average over the course of the past ten years, according to research from Thailand’s Agency for Real Estate Affairs. That equates to a rise of more than 300 percent in the last 10 years.
President of AREA, Sophon Pornchokchai, said both Maprao and Por in the north east of the island had grown significantly more than other areas due to their low initial base price.
Patong Beach is home to the most expensive land plots on the island today at THB180 million per rai, with land on the popular west coast of the island more expensive than similar plots on the east due to the better beaches and views.
Sopon also predicted that Phuket land prices will continue to increase, despite occasional setbacks similar to those the kingdom has experienced this year.
Area Price (per rai) in 2004 Price (per rai) in 2014
Ao Maphrao THB2 million THB10 million
Ao Kung THB2.5 million THB12 million
Ao Po THB3 million THB15 million
Sapam THB3 million THB10 million
Serae THB5 million THB20 million
Phuket Town THB6 million THB20 million
Chalong THB5 million THB20 million
Rawai THB5 million THB20 million
Kata THB10 million THB40 million
Karon THB20 million THB60 million
Patong THB40 million THB180 million
Kamala THB10 million THB40 million
Surin THB9 million THB27 million
Bang Tao THB7.5 million THB25 million
Nai Thon THB7 million THB25 million
Nai Yang THB6 million THB20 million
Mai Khao THB6 million THB15 million
Source: AREA Surveys, July 2004 and October 2014
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.
