Phuket is the fourth biggest branded residence market in the world. The count is 35 projects, ahead of London. It is also the number people get wrong most often, and this piece is about how to read it properly before anyone quotes it at you.
- 35
- branded projects on Phuket15 open, 20 announced but not yet open.
- 4th
- in the worldLondon is 5th with 30. Bangkok is 10th with 22.
- 903
- branded projects worldwideAt the end of 2025. Around 1,088 this year, and close to 1,800 by 2031.
- +40%
- more flights into Phuket since 2023Bangkok is up 27%. Dubai is down 7%.
What is a branded residence?
A branded residence is a home built and run with a hotel or design brand attached. The brand does not just go on the sign during construction: it sets the standards and runs the building after you have bought. On Phuket that covers apartments, villas and whole resort estates.
What does fourth in the world actually mean?
It counts names, not homes. One project counts as one whether it holds ten villas or four hundred apartments.
- 15 open
- 20 announced only
Read the full explanation
The 35 comes from Knight Frank, in its Residence Report 2026/27. It counts branded projects on the island and ranks Phuket fourth in the world. London, fifth, has 30. Bangkok, tenth, has 22. Those are that firm’s numbers, and we have not checked them ourselves.
A count of projects is a count of names announced. It cannot tell you how many homes exist, because size is not part of it. So “fourth in the world, ahead of London” means fourth by number of projects. It does not mean Phuket has more branded homes than London.
Demand does follow the airport, and that part is easier to trust: flights into Phuket are up 40 per cent since 2023, the second fastest growth of the ten biggest markets.
Both words hide a lot: “announced” and “open”
Announced puts a nearly finished building and a press release about an empty plot in the same box. Open describes the resort, not the home you are shown.
A count of projects is a count of names. It is not a count of buildings you can walk into.

Read the full explanation
Twenty of the 35 are announced and not open. That single word covers a building three months from handover and a press release about a piece of land, with no way to tell them apart.
Here is what that looks like in practice. Banyan Group is among the world’s top five brands by this measure, with 75 projects, 33 open and 42 announced. Forty-two sounds like a brand arriving everywhere at once. It is a count of announcements. It tells you nothing about whether any one of the 42 has a hole in the ground yet.
Open is no safer. A project counts as open once it is trading, and on a resort estate the hotel can be taking guests while the homes are still being finished, still being handed over, or still being sold by the developer. Open means the gate is open. It does not mean the specific home you are being shown is built.
So the question is the same either way: ask for a construction or handover fact, with a date, for that building — not for the resort around it.
Two different questions a supply number gets asked
Is it SOLD?
A sales answer: under development, selling, completing, resale. It says who holds the unsold homes and how they are being marketed. It says nothing about the ground — including “under development”, which sounds like it does.
Is it BUILT?
A building answer: standing, finishing, building, site works, not started. This is the one you would book a flight on.
Does the brand have to be a hotel?
No. On Phuket, about 23 per cent of branded projects carry a non-hotel name, against 51 per cent in New York.
Read the full explanation
The non-hotel share is 23 per cent on Phuket and 23 per cent in Bangkok, against 47 per cent in London and 51 per cent in New York. Worldwide it is near 30 per cent and heading for almost 40 per cent by 2028. A non-hotel brand might be a fashion house, a car maker or a design studio. What changes is who runs the building after you move in, and that is the question worth asking of any brand.
What can we actually prove?
Of 43 Phuket projects above THB 20 million on our own register, 10 are confirmed built, 7 are confirmed not built, and 26 we have not checked either way.
- 10 confirmed built
- 7 confirmed not built
- 26 not checked either way

Read the full explanation, including the mistake we made writing this
Built means the record shows the building exists. It does not mean we have walked it. Only one row in the whole register is marked as visited by us, Twinpalms Residences MontAzure. A document and a site visit are different things and we keep them apart.
All 10 of them: Amanpuri Residences, Angsana Oceanview Residences, COMO Point Yamu, Laguna Beach Residences Reef, Laguna Beach Residences Seashore, Skypark Celeste Laguna Phuket, Sri Panwa, The Standard Residences, Phuket Bang Tao, Trisara and Twinpalms Residences MontAzure. On all but one, we advise buyers from the buyer’s side.
We got this wrong once, in a draft of this article. Our register recorded how a project is sold, and had no field at all for what is built. The draft used a sales value as a stand-in and counted three estates a client could walk that month as unbuilt. Nothing went out. The register has a building field now, and it stays empty unless we hold dated evidence, because a guess there is worse than a gap.
The same check works on anyone’s number, not just ours. When a status sounds like a building fact, ask for the full list of values that field can hold. If the list reads under development, selling, completing, resale, it is a sales field, whatever one word in it sounds like.
Two last things. 10 rows are carried as under development, which is a sales state, not a building one. And our 43 and the 35 above are two different sets, counted under two different rules for two different purposes — so never subtract one from the other.
Which projects are confirmed not built?
Three. In every case the evidence is the developer’s own dated progress reporting, not ours.
Banyan Tree Beach Residences Oceanus
Under construction. The developer's own project page of September 2026 describes foundations, structure, roofing and plastering as largely complete, against a target of late 2028.
The Residences at InterContinental Phuket Resort
13 per cent complete overall, on PROUD Real Estate's own progress page of 28 August 2026.
The Standard Residences, Phuket Bang Tao
Structure 95 per cent and interior 70 per cent on the developer's own September 2026 panel. Its sales team told us in September 2026 that the homes are ready to move into from October 2026; we still ask for each home's handover date in writing.

The 26 we have not checked is not a list of unbuilt projects. It records how far our own checking has got, not the state of the site.
Read the full explanation
That column holds Layan Residences by Anantara, an established villa estate above Layan Beach that our register carries as selling. It holds Kiara Reserve Residences, which its developer’s website called “in its final phase” in August 2026 — a sales phrase we have not matched to a dated building fact of our own. And it holds PEYLAA Phuket, Autograph Collection Residences, announced in March 2026.
An estate a client can walk, a project in its final phase, and a launch from this spring all sit in one column — because the column records what we have established, not what is on the ground.
What does it cost per square metre?
Phuket runs roughly US$5,400 to 7,000 a square metre. But the published band leaves out the top fifth of the market, and on Phuket that missing fifth is the beachfront villas most buyers arrive asking about.
- US$5,400 to 7,000
- Phuket, per sqmCovers about 80% of high-end sales. The top fifth sits above this band.
- US$7,000 to 8,300
- Bangkok, per sqm
- US$17,200 to 29,100
- Marbella, per sqm
- US$43,000 to 75,000
- London, per sqmNew York is US$43,000 to 64,600.
Read the full explanation, and why the missing fifth matters
Thailand works in square metres, so everything above is per square metre. The published ranges are per square foot, and we converted them at 10.7639 square feet to the metre. The ranges are theirs. The conversion is ours.
The band covers about 80 per cent of high-end sales. The fifth left out is the top of each market. On Phuket that is essentially the beachfront villa market. So a published range describes the middle of a market, not its ceiling — and if anyone quotes the Phuket band at you against a beachfront villa, the wrong band is being used on you.
We publish a second Phuket figure from the other direction: branded apartments average THB 197,745 per square metre, from C9 Hotelworks, January 2026, on our register of branded residences in Phuket. One is an average of apartments only. The other is a range with the top cut off. Different groups, different methods, and neither contradicts the other. We will not multiply one by an exchange rate to line them up, because we cannot source a rate we would stand behind.
What should you ask before buying off-plan?
Six questions, in writing. None of them are about the finishes.
- Is that answer about the sale or the site? When you are told a project is on track, ask for the construction percentage and the date it was measured.
- Where does the deposit sit? In escrow, in a developer account, or released as construction is verified. Three very different levels of protection.
- Which company signs? The project company named on your contract, not the group name on the brochure.
- What happens if completion moves? In the document, not in the meeting. Completion dates on this island move.
- Is there foreign freehold left for your unit? The 49 per cent limit is on a building’s floor area, not its number of units, so big homes use it up faster.
- What does that home cost to run? Service charge and sinking fund on your unit, not the project average.
Take the papers to an independent Thai lawyer before any money moves. The longer version of this decision is in our piece on buying something that exists or something that is promised.
Where we stand
We are an appointed sales agency for Banyan Group and PROUD Real Estate, appointed in writing and named alongside other agencies rather than as sole agent, across 27 rows of the register. On the other 16 we advise buyers and work for them. That includes all but one of the built projects named above.
If you want this island read rather than pitched, tell us your budget, which shore you like, and whether you need to move in or can wait. We will tell you which projects we can prove are built, which are confirmed not built and on what dated evidence, and where the honest answer is that we have not checked yet. Start with the register, or ask us directly.
Sources. The project counts, world ranking, flight growth, brand shares and price ranges are Knight Frank’s own published research, from The Residence Report 2026/27 and the Global Branded Residence Survey 2026. They are that firm’s figures, not ours, and we have not audited them. The per-square-metre prices are our own conversion of its per-square-foot ranges at 10.7639 square feet to the metre; it states its currency conversions as at 1 August 2026. The THB 197,745 average is C9 Hotelworks, January 2026. Every count taken from our own register is marked as ours in the text. General information as of 23 September 2026, not legal, tax or investment advice.
