Charn Issara Development, a company listed on the SET, has launched four super-luxury villas in the Sri Panwa project in Phuket. Priced between 250 and 300 million baht, the villas are targeting affluent buyers from Thailand, China, and Russia. The demand for luxury villas in Phuket has been increasing since 2020, driven by the pandemic. Phuket is a popular tourist destination, attracting both foreign tourists and investors.
The number of international tourists visiting Phuket is expected to reach 14 million in 2023, compared to 3.32 million in 2022. The cumulative sales rate of villas in Phuket has been recovering, reaching 82.2% in 2022. In the first half of 2023, demand for both villas and condos in Phuket reached the highest level in over a decade.
The price range of the villas sold in Phuket was between 15 and 35 million baht per unit, with the majority falling in the 15-35 million baht range. Charn Issara has recently launched the last phase of the Sri Panwa Phuket development, called The Sky Series. Valued at 1 billion baht in total sales, this phase consists of four pool villas priced between 250 and 300 million baht.
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