Chairman of LKF Group and developer of acclaimed Andara Resort & Villas, urges the industry to focus on destination and culture as LKF Group showcases new Sudara Residences project at Asia Connect 2025 in Phuket
PHUKET, THAILAND: Phuket’s property market is continuing to thrive despite global economic volatility as the sector moves increasingly towards condominiums as lifestyle becomes the new luxury on the island, delegates heard today at Asia Connect: Phuket Property Pulse event.
Held at Andara Resort & Villas, in conjunction with Property Guru Thailand and C9 Hotelworks, the top-level industry gathering further heard speakers suggest the market needs to focus on promoting the destination to a global audience, following the path of tourism, converting tourists, and indeed new markets such as the Middle East and India into buyers.
“We’re in a time of economic recalibration — volatility, yes, but also opportunity for those who move with clarity," said Dr. Allan Zeman. “Thailand, and especially Phuket, has shown resilience — there’s a growing appetite from regional and global investors looking for lifestyle-led investments. The key is to stay focused on long-term fundamentals, not short-term noise."
The iconic investor added that buyer sentiment had changed, and it was important for developers to respond to this. “The buyer today is more global, design-savvy, and values-driven — they don’t just want a property, they want a full experience. We’re seeing a shift toward wellness, privacy, sustainability, and branded service — all of which Phuket is now uniquely positioned to offer. We all have seen how post-pandemic Phuket has been moving from a holiday destination to a lifestyle home base for digital nomads, families, and those wanting a better lifestyle ahead. Phuket is headed towards even more expansion, with infrastructure projects becoming even more critical to its success."
Dr Zeman’s views were supported by the latest market data by C9 Hotelworks’ Phuket Property Market Update for May 2025, which revealed that Phuket now has a total of 40,600 units for sale across 343 active developments. Condominiums command a median price of THB 144,000 per sqm, compared to 70,000 per sqm for villas and landed properties, and the highest prices are in Cherngtalay, on the island’s sought-after sunset coast.
“Phuket needs to get back to fundamentals, back to showcasing the destination brand to a global market and converting tourists to buyers, and at the same time mitigating risk against external factors. Property developers need to open new markets instead of waiting for them to come to them." said Bill Barnett, Managing Director of C9 Hotelworks.
The key area of new development is Cherngtalay, particularly near Bangtao Beach, the location of the new project by LKF Group, Sudara Residences, which is attracting lifestyle buyers. It offers 220 bright one- to three-bedroom residences ranging from 52 to 144 square metres in size, including options with private pools, plus a main clubhouse, The Pavilion, which features outdoor pools, an alfresco lounge with cabanas, a kids’ club, fitness centre, café, yoga space, and co-working areas, all supported by management and concierge services from Andara Resort & Villas. The project will be completed by 2027.
Other key issues, such as Thailand’s leasehold ownership structure, tax considerations for developers, and a data-driven market analysis, were covered by key speakers from Hughes Krupica, a law firm and consultancy company and HLB Thailand, a leading accounting and advisory firm.
The event was hosted by PropertyGuru Thailand Property Awards, the most respected awards programme for the real estate industry. “Two decades ago, the PropertyGuru Thailand Property Awards set out to recognise quality real estate at a time when very few other awards existed", said Jules Kay, general manager of PropertyGuru Asia Property Awards and Events. “Our inaugural gala event featured a limited number of categories, but this year, we will present more than 100 accolades, recognising the diverse elements in Thailand’s dynamic property sector."
For more information about C9 Hotelworks, please visit c9hotelworks.com. read the full Property Market Update here: https://c9hotelworks.com/wp-content/uploads/2025/05/Phuket-Property-Market-Update-May-2025.pdf
To learn more about Sudara Residences, please visit sudaraphuket.com.
