Sansiri launches completed luxury villas in Phuket, targets broad foreign buyer base

SET-listed developer Sansiri is launching The Tales Story Two Pasak, a 750 million baht pool-villa project in Phuket comprising 14 completed two-storey units priced from 49.5 million baht on 30-year leasehold. The company says Phuket's villa market has shifted from seasonal holiday homes to year-rou

SET-listed developer Sansiri is launching high-end villa projects in Phuket, targeting expats seeking permanent homes and foreign buyers looking for second homes. The company is selling all units completed before transfer to build buyer confidence after some off-plan purchasers in recent years failed to receive units from other developers.

Sansiri's new pool villa project is The Tales Story Two Pasak, worth 750 million baht. Located on a site of nearly nine rai, it comprises 14 two-storey units priced from 49.5 million baht each. All units are offered under 30-year leasehold contracts. “As the site is near several international schools, we designed two-storey villas to meet residents' needs,” said Poomchai Mattayompoppinyo, managing director of Sansiri's southern region project development.

Mr Poomchai said Sansiri has been active in Phuket since 2011 and has observed significant changes in the market. “Phuket has evolved from a tourist destination into a self-sustaining international destination. Demand for villas has shifted from holiday homes used for a few months to six months a year to properties for year-round living,” he said. The villa market is now more clearly defined in terms of demand and supply than during Sansiri's first 12 years in Phuket, with demand in recent years driven by expats relocating to the island to live, work and run businesses.

Agents marketing the company's pool villas are no longer reliant on a single market, unlike in the past when they depended heavily on Chinese and Russian buyers, many of whom have since been accommodated. The buyer base has broadened to include people from other Russian-speaking countries, European markets and Thai investors purchasing villas for rental income, Mr Poomchai noted.

Sansiri's market survey revealed that rental rates for Phuket pool villas are highly lucrative. For three-bedroom villas with usable areas of 280 to 350 square metres, long-term rentals under one-year leases range from 250,000 to 300,000 baht per month. During the high season, short-term rentals for these three-bedroom villas can exceed 500,000 baht per month. Meanwhile, four-bedroom villas with usable areas of 400 to 500 sq m command long-term rental rates ranging from 350,000 to 500,000 baht per month under one-year contracts. Short-term rentals for four-bedroom properties during the high season can exceed 600,000 baht per month, underscoring Phuket's appeal as a premier global destination for luxury living and investment, said Mr Poomchai.