Americans and Europeans Flock to Koh Samui as Sea-View Villas Sell for a Third of Phuket Prices
Koh Samui is rapidly positioning itself as a premier choice for American and European buyers seeking value in Thailand’s property market, offering a compelling alternative to Phuket as price dynamics tilt in Samui’s favor. As demand from Russian and Chinese buyers continues to push Phuket prices higher, Samui has become a focal point for buyers from the West who are looking for more affordable villa options with sea views and larger living spaces. In this shifting landscape, Colliers Thailand’s Phattarachai Taweewong notes that inquiries about residential units on Koh Samui have picked up since last year, driven primarily by Americans and Europeans. “These buyers have shifted their interest from Phuket as prices there rose, while those on Koh Samui remain attractive,” he explained. The island’s most popular locations remain Choeng Mon and Lamai beaches, where land prices average 10 million baht per rai, underscoring Samui’s appeal for value-conscious buyers who still want desirable beachfront or near-beach locations.
With budgets in the 30-50 million baht range, buyers can acquire a villa with a sea view on Koh Samui that includes a usable area of about 400 square metres on a 200-square-wah plot. By contrast, the same budget in Phuket typically yields a villa without a sea view, with a usable area of around 150-200 square metres on a 100-square-wah plot. This stark difference in space and view highlights the value Advantage that Koh Samui is offering relative to Phuket, particularly for discerning buyers who prioritize living area and ocean access. Yet despite these attractive parameters, Sak Koh Samui’s villa supply remains notably restricted. In recent years, only five villa projects have launched, totaling fewer than 100 units, and all of these projects sold out within a year. This tight supply dynamic serves to reinforce Samui’s value proposition while also constraining the pace at which new buyers can enter the market.
A key factor behind Samui’s constrained villa supply is related to land title deeds. Phattarachai emphasized that land title issues have historically limited development on the island, constraining the pipeline for villa projects. Despite this obstacle, the Samui property market continues to attract not only buyers but also developers, some of whom have requested Colliers Thailand to conduct studies on villa development. This suggests a growing interest among developers to explore opportunities even in a market where regulatory and title hurdles persist. Among the more notable movements recently, SET-listed developer Supalai has plans to launch a single-detached house project on Koh Samui, while Surat Thani-based Baansuay Group is preparing to develop villas on the island. These developments indicate a broader investor confidence in Samui’s long-term prospects, despite the structural challenges associated with land ownership and title registration.
Investor interest in Koh Samui is expanding beyond residential villas to the hotel sector, where private funds are now exploring acquisition targets. Samui’s global recognition has been boosted by the popular television series The White Lotus, which has contributed to a rising average daily rate (ADR) for Samui hotels. This elevated profile has attracted financiers seeking hotel opportunities, as well as a broader range of investors looking to capitalize on Samui’s elevated tourism profile. In addition to hotels, the condo market presents another attractive avenue for investment, particularly in low-rise projects. Supply in this segment remains limited, with only a handful of new projects offering fewer than 200 units in total. Pricing in the condo sector remains competitive, with prices ranging from 50,000 to 70,000 baht per square metre, further reinforcing Koh Samui’s appeal to investors who value price discipline and potential for upside.
While Bangkok’s property market is cooling, Samui is emerging as another location drawing interest this year. The island’s performance, however, has not reached the level observed in Phuket, where demand remains robust and buoyant thanks to the island’s strong tourism dynamics. Phuket continues to attract both Thai and foreign buyers, driven by the broader tourism ecosystem that has supported price momentum over the past two years. In 2024, both the condo and villa markets in Phuket reached historic peaks, with new supply launched totaling 14,718 condo units and 1,922 villa units, rising significantly from 8,743 condo units and 505 villa units in the previous year. Sales also remained strong, with 8,346 condo units and 1,249 villas sold in 2024. The top buyers in Phuket came from Russia, China, the United States, Australia, France, and the Middle East, underscoring Phuket’s status as a global destination for property investment and tourism.
Section 1: Market Dynamics and Buyer Profiles
Koh Samui has begun to attract a growing cohort of American and European buyers who perceive a stronger value proposition on the island compared with Phuket. The price-to-value equation is central to this shift: on Samui, buyers can access larger villas and more generous spaces at prices that remain attractive when contrasted with Phuket’s higher price point, especially for properties featuring sea views and larger land plots. The shift is also shaped by broader market dynamics in Thailand’s resort island sector, where Phuket has experienced sustained price increases due to elevated demand from international buyers, and where supply has expanded in a way that doesn’t significantly dilute property values. Samui’s appeal is further amplified by the island’s distinctive beachfront clusters and the perception that land is rarer and more coveted in limited locations.
Inquiries into Koh Samui properties have risen since last year, with the majority of new interest emanating from buyers in the United States and Europe. This trend aligns with a broader international appetite for Thai real estate that seeks to diversify geographic exposure and capitalize on the potential for long-term appreciation. The island’s most sought-after beaches—Choeng Mon and Lamai—are not only scenic but command land values that reflect their desirability, with land prices averaging around 10 million baht per rai. This price point helps explain why many buyers are drawn to build or acquire villas that deliver both sea views and substantial interior space, features that are often considered essential for buyers seeking a high-quality, resort-style living experience.
When considering typical purchase parameters, a buyer equipped with 30-50 million baht can secure a Koh Samui villa with a sea view, featuring a usable area of about 400 square metres on a 200-square-wah plot. By contrast, achieving a similar level of space and view on Phuket with the same investment is unlikely, as villas in Phuket at that price point tend to offer no sea view and smaller internal footprints—roughly 150-200 square metres of usable space on a 100-square-wah plot. This juxtaposition illustrates Samui’s ability to deliver more expansive living space and more compelling views at a given budget, reinforcing its appeal to discerning buyers who are prioritizing size and scenery.
The villa supply on Koh Samui remains particularly constrained, which has significant implications for both buyers and developers. In the recent past, only five villa projects have been launched, totaling fewer than 100 units, and all were sold within a year. The rapid absorption demonstrates robust demand but also underscores the island’s development bottlenecks. A critical factor behind this constrained supply is land title deeds—an issue that has long affected Samui’s ability to unlock new villa stock. Despite these challenges, Samui’s market continues to attract not only buyers but also developers who come seeking opportunities for villa projects. Some developers have explicitly requested studies on villa development, indicating a proactive approach to navigating regulatory and title-related constraints while pursuing growth opportunities.
Significant development moves signal a cautious but progressive expansion in Koh Samui’s villa segment. Supalai, a SET-listed developer, plans to launch a single-detached house project on the island, signaling a step toward diversified villa offerings and mid-to-upscale housing options that can accommodate a growing international buyer pool. Similarly, Baansuay Group, a Surat Thani-based developer, is preparing to develop villas, reinforcing the view that there is continuing interest from regional developers to invest in Koh Samui’s villa market despite structural constraints. This pipeline of activity suggests a shift toward more deliberate, regulated growth on the island, with developers seeking to balance demand with the island’s unique land ownership considerations.
Investors are broadening beyond traditional residential properties to include hotels, where private funds are showing interest in acquiring properties to capitalize on Koh Samui’s elevated global profile. The White Lotus effect has contributed to a higher average daily rate for Samui hotels, signaling a stronger revenue potential for hospitality assets and drawing capital from investment funds seeking to capture the upside from higher room rates. In addition to hotels, there is a clear attraction to condo projects, particularly low-rise developments where supply remains limited. The market is characterized by a relatively small number of projects with fewer than 200 units, which helps maintain price discipline and potential for value appreciation. In this context, property prices on Koh Samui are reported to range from 50,000 to 70,000 baht per square metre, a range that remains attractive to buyers seeking quality builds and value relative to Phuket’s market.
The broader macro environment also shapes Koh Samui’s appeal. While Bangkok’s property market has cooled, which has shifted some attention toward regional markets, Samui’s growth narrative has been reinforced by its appeal to international buyers seeking beachfront living and higher quality amenities. However, it is important to note that Samui’s performance, while positive, does not yet match Phuket’s trajectory in terms of overall market momentum. Phuket remains the benchmark for market activity in Southern Thailand, with strong demand supported by a robust tourism industry and a broader array of product options that appeal to both Thai and foreign buyers. The contrast between Samui’s value-driven appeal and Phuket’s continued demand momentum highlights the complementary dynamic in Thailand’s resort island sector, where different attributes attract different buyer profiles.
Section 2: Limited Villa Supply and Land Title Issues
The limited villa supply on Koh Samui is a prominent feature in the island’s current real estate landscape. Over the past several years, only a handful of villa projects have hit the market, and these developments collectively represent fewer than 100 villa units. The rapid sell-out of these projects within a year underscores strong demand but also raises questions about future supply and the ability of the island to meet continued interest from international buyers. This scarcity is not merely a matter of appetite; it is deeply intertwined with regulatory and land ownership complexities that influence project feasibility, timelines, and ultimately, buyer confidence.
A core constraint highlighted by market observers is the issue of land title deeds. Land titles on Samui have historically posed challenges for developers, particularly foreign buyers seeking to secure long-term ownership or stable development rights. Title deed complexities can slow project approvals, complicate land transfers, and add layers of due diligence for developers evaluating villa ventures on the island. These factors contribute to a tighter supply pipeline and can elevate project costs and risk, which in turn affects pricing and the pace at which new villas reach the market. The interplay between regulatory considerations and market demand creates a dynamic where developers must navigate a patchwork of legal, regulatory, and title-related hurdles even as demand remains robust among international buyers.
Nevertheless, the Samui property market remains an attractive destination for both buyers and developers, despite these challenges. There is clear interest from developers to explore villa opportunities, as evidenced by ongoing studies and planning efforts for villa projects. The desire to develop villas indicates confidence in Samui’s long-term viability and attractiveness as a high-value destination for foreign buyers who are prepared to invest in premium properties. Developers are also attracted by the potential for high margins and the ability to deliver residences that combine luxury living with sea views and expansive spaces—a combination that remains highly desirable in Samui’s target segments.
In response to supply constraints, some developers are pursuing partnerships, joint ventures, or bespoke projects that align with local land regimes and titles while delivering premium villa products. The involvement of established developers such as Supalai and Baansuay Group indicates a structured approach to introducing more villa stock to Koh Samui in the future. Supalai’s planned single-detached house project and Baansuay Group’s villa development efforts reflect a broader trend of institutional and regional developers viewing Koh Samui as a viable arena for product diversification beyond traditional condo offerings. These moves may gradually ease supply pressures while maintaining quality, design standards, and alignment with regulatory requirements.
Investors’ attention is also turning toward Koh Samui’s hotel sector, where private funds see opportunities to acquire hotels and leverage the island’s growing global recognition. The White Lotus effect, which has elevated Samui’s profile in international markets, is expected to translate into stronger occupancy and ADRs for hospitality assets. As a result, hotels become an appealing alternative to traditional residential investments for international capital seeking diversified exposure in Thailand’s tourism-driven property sector. The condo segment is likewise garnering interest, particularly for low-rise projects where supply remains tight and demand from international buyers remains robust. Prices in the condo market, ranging from 50,000 to 70,000 baht per square metre, reflect a balance between affordability relative to Phuket and the premium associated with Samui’s scenic appeal and lifestyle amenities.
Section 3: Investment Trends Beyond Villas: Hotels and Condos
The investment landscape in Koh Samui is expanding beyond the villa segment to include a stronger focus on hotels and low-rise condos. The island’s rising international profile, driven in part by The White Lotus phenomenon, is lifting average daily rates for hotels and making hotel ownership more attractive to private equity and funds seeking exposure to Thailand’s tourism sector. These investment flows are grounded in the expectation that Samui’s tourism appeal will sustain elevated ADRs and robust occupancy rates, particularly in areas with high-end amenities, beachfront access, and strong infrastructure.
In addition to hotels, low-rise condo developments offer another compelling investment angle. The supply for these condo projects remains limited, with only a handful of developments containing fewer than 200 units. This scarcity helps maintain price discipline and preserves upside potential as global interest in Samui’s property market remains elevated. For investors, the combination of limited supply, premium locations, and strong tourism demand provides a compelling case for investment in Samui’s condo projects, especially those that can deliver practical layouts, high-quality finishes, and views that maximize the island’s natural beauty.
Price points for the condo market on Koh Samui currently sit in the 50,000 to 70,000 baht per square metre range, a level that positions Samui as an attractive alternative to Phuket for buyers who want a balance of luxury and value. The price range also reflects the premium attached to low-rise, resort-style condo developments that offer easy access to beaches and amenities while delivering design and lifestyle advantages that appeal to international buyers. For developers, this environment supports the feasibility of smaller, carefully planned projects that can deliver a unique value proposition and maintain profitability despite the island’s regulatory constraints.
From a strategic standpoint, Koh Samui’s investment narrative benefits from the synergy between villa scarcity and the high-value hotel and condo segments. The limited supply creates a potential supply-constrained market that can sustain price stability and potential appreciation as demand remains resilient. Investors eyeing Samui therefore monitor regulatory developments and land title processes closely, as improvements in these areas could unlock additional villa stock and support a more diversified product mix, including mid-range to premium villas and a broader set of condo products. In the near term, however, the market’s trajectory suggests continued interest from international buyers who are attracted to Samui’s combination of natural beauty, lifestyle appeal, and the premium positioning of its beachfront assets.
Section 4: Phuket vs Samui: The Phuket Performance and Market Context
Phuket continues to be a barometer for the southern Thailand property market, characterized by sustained demand from both Thai and foreign buyers supported by a thriving tourism sector. The island’s property market has heated up over the past two years, driven by strong tourism dynamics, which translated into record-scale activity in 2024. In that year, condo and villa markets in Phuket reached historic peaks, underscoring the island’s status as a premier investment destination in Thailand’s resort market. New supply in Phuket surged, with 14,718 condo units and 1,922 villa units launched—numbers that reflect a significant expansion in product availability compared with the prior year, which saw 8,743 condo units and 505 villa units launched. The sales side of the equation also reflected strong demand, with 8,346 condo units and 1,249 villas sold in 2024, highlighting an enthusiastic market for both condo and villa product types.
Phuket’s buyers are diverse, with a notable share coming from Russia, China, the United States, Australia, France, and the Middle East. This top buyer profile illustrates Phuket’s global appeal and its ability to draw foreign capital and tourist-driven demand from multiple regions. The island’s tourism-driven market dynamics have contributed to a robust pricing environment and a steady flow of new projects, even as the market shows signs of maturity in some segments. The breadth of demand in Phuket—from luxury villas with sea views to condo units in high-amenity developments—has supported a dynamic market where both supply and demand can coexist in a healthy cycle of activity.
In contrast, Koh Samui’s market has experienced a more value-oriented growth path. While Samui has drawn significant international interest, including American and European buyers seeking value within the Thai property market, its performance is not as robust as Phuket’s in terms of volume and pace. Samui’s limited land supply, regulatory hurdles around land titles, and the relatively small number of new villa projects have constrained the speed at which new product can reach the market. As a result, while Samui offers compelling value, space, and sea-view opportunities, the island’s overall market tempo remains more measured relative to Phuket’s high-volume, tourism-fueled expansion.
Section 5: Phuket’s 2024 Milestones: Supply, Sales, and Buyer Backdrop
Phuket’s 2024 performance is characterized by notable milestones across both condo and villa sectors, driven by robust tourism inflows and a broad base of international buyers. The year saw new supply launch totals of 14,718 condo units and 1,922 villa units, representing substantial growth relative to the prior year’s 8,743 condo units and 505 villa units. This surge in supply was matched by strong sales, with 8,346 condo units and 1,249 villas sold in 2024. The breadth of activity indicates a market that has transitioned into a phase of confident expansion, supported by an international buyer pool that includes Russia, China, the United States, Australia, France, and the Middle East. Phuket’s condo sector, in particular, benefited from a broad range of product types and locations, including high-rise and low-rise configurations, while villas continued to attract buyers seeking luxury, privacy, and direct access to beaches or scenic vistas.
The top buyers in Phuket—Russia, China, the US, Australia, France, and the Middle East—highlight the island’s global pull and its capacity to attract capital from diverse regions. This diverse demand supports prices and facilitates the launching of large-scale projects that cater to a global audience. Phuket’s ongoing appeal stems from its established tourism infrastructure, a wide array of hospitality offerings, and a mature market ecosystem that can absorb significant new supply. This combination of factors sustains Phuket’s market momentum even as Samui captures attention for its value-driven opportunities.
Section 6: The Comparative Outlook: What This Means for Buyers and Investors
For buyers considering Koh Samui, the key takeaway is the combination of limited villa supply, favorable price points for sea-view properties, and a growing appetite from developers and investors seeking to capitalize on Samui’s rising profile. While Phuket remains the more dominant market in terms of scale and momentum, Koh Samui presents a compelling alternative for investors who prioritize space, view, and value at similar or lower price points. The island’s ongoing development plans from established developers signal a deliberate approach to expanding villa stock and diversifying product offerings, even as land title considerations require careful navigation. The hotel and condo investment themes—driven by The White Lotus effect, rising ADRs, and limited condo supply—provide additional avenues for investors seeking exposure to Koh Samui’s tourism-driven economy.
For Phuket, the story remains one of sustained demand, driven by its tourism ecosystem and its established position as a premier Thai island destination. The island’s ability to attract a broad cross-border buyer base and to launch substantial new supply highlights its continued relevance in the region’s property market. Investors evaluating opportunities across Southern Thailand will need to weigh Samui’s value-oriented proposition and supply constraints against Phuket’s scale, robust demand, and deeper market liquidity. The dynamic between Samui and Phuket underscores a broader trend in Thailand’s resort island real estate: buyers are increasingly drawn to multi-island diversification, seeking combinations of price, space, and lifestyle that align with their investment and personal goals.
Conclusion
Koh Samui is emerging as a carefully balanced option for American and European buyers seeking value in Thailand’s property market, offering larger villas with sea views at price points that undercut Phuket’s higher-cost offerings. The island’s relatively limited villa supply, coupled with land title challenges, shapes a market that is both attractive and cautiously navigated by developers and investors. The entry of established developers like Supalai and Baansuay Group, alongside growing hotel and condo investments driven by Samui’s rising global recognition—exacerbated by cultural phenomena such as The White Lotus—signals a sustained growth trajectory for the island, even as it remains distinct from Phuket’s higher-volume market dynamics.
Phuket, by contrast, continues to serve as a benchmark for Southern Thailand’s property market, with robust demand driven by tourism and a broader, more diverse buyer base. The 2024 data show substantial new supply and solid sales across both condo and villa segments, underscoring Phuket’s ongoing appeal to a global audience. While Samui is gaining traction among Western buyers seeking value and space, Phuket remains the more dominant force with deeper liquidity and a broader range of product types. For buyers and investors, the evolving landscape suggests a complementary strategy: leverage Koh Samui’s value-driven opportunities and limited supply to build a diversified, cross-island portfolio while maintaining exposure to Phuket’s higher-volume, high-demand environment. The overall outlook for Thailand’s resort markets remains favorable, contingent on continued tourism resilience, regulatory clarity on land ownership, and sustained international interest that drives demand across both Koh Samui and Phuket.