Sansiri Phuket Villas Target Expats With Ready Homes

Developer Sansiri is betting on high-end Sansiri Phuket villas that are fully built before they go on sale, aiming at expats who now live on the island all year and at foreign buyers looking for a second home, the Bangkok Post reported on November 4. Its newest project has 14 two-storey pool villas priced from 49.5 million baht.

The new project

The development is called The Tales Story Two Pasak. Key details given by the company:

• project value of 750 million baht;
• a site of nearly nine rai;
• 14 two-storey villas, starting at 49.5 million baht;
• sold to foreign buyers under 30-year leasehold contracts;
• all units completed and ready for transfer.

Poomchai Mattayompoppinyo, managing director of Sansiri's southern region project development, said the villas have two floors because the site is close to several international schools and families need the space.

Why finished homes matter

Selling homes that are already built is a direct response to a trust problem. According to the Bangkok Post, some buyers in recent years did not receive transfers for off-plan homes from other developers. Sansiri says completed units are meant to reassure foreign buyers that they will get what they pay for.

From holiday homes to year-round living

Sansiri has worked in Phuket since 2011. Mr Poomchai said the island has "evolved from a tourist destination into a self-sustaining international destination". Villa demand has shifted from holiday homes used for a few months a year to homes for full-time living, driven by expats who move to Phuket to live, work and run businesses.

The buyer mix has also widened. In the past, agents relied heavily on Chinese and Russian buyers. Now demand also comes from other Russian-speaking countries, Europe and Thai investors buying villas to rent out.

What villas rent for

Sansiri's own market survey gives these monthly rental figures for Phuket pool villas:

• three-bedroom villas (280-350 sq m): 250,000-300,000 baht on one-year leases, and more than 500,000 baht for short stays in high season;
• four-bedroom villas (400-500 sq m): 350,000-500,000 baht on one-year leases, and more than 600,000 baht for short stays in high season.

These are the developer's figures for large luxury homes, so buyers should compare them with independent data and allow for management fees, vacancies and maintenance.

What it means for the market

The launch shows big listed developers moving into Phuket's top-end villa segment, where demand is now driven by people who live on the island rather than only holidaymakers. For buyers, leasehold terms, title checks and the developer's track record remain the key questions.

Compare our guides to Phuket villa prices, Phuket rental yield and freehold vs leasehold in Phuket.

Photo: a pool villa in Ko Samui, Thailand, by Jpatokal / Wikimedia Commons, CC BY-SA 4.0. File photo, not the Sansiri project.