Page 30 - Masala Lite Issue 176 August 2025

PHUKET

NUMBERS FLY

The Real Estate Consigliere, Vimol Kogar,
with Dr Ian Tan (PhD), hopes to educate,
entertain, and illuminate.

angkok’s Suvarnabhumi Airport handled • 6 Starbucks
about 62 million inbound travellers in 2024, of • 10 Top Charoen
which approximately 38 million were foreign • 6 Tops Daily
visitors. Bangkok has a population of 11 million. Phuket • 10 7-Eleven stores
International Airport welcomed 11 million travellers last • 10 supermarkets
year and the local population is estimated at 460,000 (of various brands)
in the last census. Taken spade for spade, it’s a 1:5 ratio This location marks the bigger single
in Bangkok and a 1:24 ratio in Phuket. growth opportunity in Thailand in
terms of valuations. Prices currently
Of course, the 62 million people travelling through
trade at THB 25,000 to THB 100,000
Suvarnabhumi are vastly different from the Phuket

per wa, whereas Nana/Asoke/Phrom
number because Suvarnabhumi serves 75 provinces and Phong trade at THB 500,000 to THB
Phuket Airport serves essentially two. But just break
2 million per wa. The gentrification

down the numbers for a minute. Each local is serving of Bangtao, with a mix of Chinese,
24 tourists per year. Where is the opportunity?
Indians, Russian, Ukrainian, and South
The local population has to grow at a rate about 10 East Asians, have seen prices double
percent every year between 2025 to 2034 to reach 1 over the years. Year 2000 to 2008,
million which will be a critical mass needed to service doubled. Year 2009 to 2015, doubled
the growth of tourism to a projected number of 19 again. Year 2016 to 2024, you guessed it. And it will sqm), not in square yards or square metres. This is your
million tourists per year by 2035. The biggest numbers double again from year 2025 to 2032. opportunity.
of these non-organic workers will invariably come from
This location is the crypto of property. Take HOMA, For advice on entering the Phuket market, give me a call
Myanmar because there are not enough Thais moving
originally in Bangtao as a co-living space targeting +660816165987. Find me on social media.
to Phuket to serve this growing market.
tourists at ADR THB 1,000 to THB 1,500 per night is
The growing tourism sector is attracting new businesses currently achieving nothing less than THB 2,500 to
like the Lotus Arena in Bangtao, which opened in 2024. THB 5,000 per night. HOMA’s entry into Bangkok, in
It has already hosted over 20 concerts in the last nine the Nana/Asoke location, will also shake the market as
months, serving primarily the Russian and Ukrainian rates in Sukhumvit Soi 12 are expected to start at under
community in Phuket. THB 1,500 per night on opening.
For real estate inquiries, email:
My own take on the biggest growth story in Phuket is Phuket marks an opportunity for all who seek a new Vimol@arcadia-consult.com
Bangtao in Cherngtalay district, where I suspect will see beginning for one reason: 80% of land is still rural...
by 2030 in a 40 square kilometre radius: Still agrarian. Sold in rais (1 rai is equivalent to 1,600

MASALA LITE ISSUE 176 - AUGUST 2025