Real Estate
Phuket Villa Launches Hit Record as Russians Snap Up Properties
- 1,285 new villas launched in first half, Colliers reports
- Phuket property market unaffected by Thai political turmoil
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Thailand’s resort island of Phuket set a record for villa launches in the first half, driven by rich Russians seeking holiday homes, according to property consultant Colliers Thailand.
Thai developers offered a total of 1,285 new villas valued at 36.3 billion baht ($1.1 billion) in the six months through June, said Phattarachai Taweewong, director for research at Colliers. That surpassed the previous record of 1,108 units launched in the whole of 2023.