Phuket-based developer Botanica Luxury Villas announced its plans for significant portfolio expansion following record-breaking sales of THB1.2 billion in a single month in 2024.

This comes as Phuket’s villa market reaches a historic THB160 to 170 billion, with villa launches surpassing condominium launches for the first time in 15 years.

Demand continues to surge, particularly from Russian and European buyers seeking second homes and investment properties.

Botanica Luxury Villas has already extended its reach beyond Phuket, with successful developments in Krabi and Hua Hin. Both locations attract growing interest from European, Australian, and Chinese buyers seeking high-end vacation homes.

These areas offer rental yields of six to eight percent annually, reflecting Thailand’s growing position in the luxury real estate sector.

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Surprising resilience and rapid growth
According to Botanica Luxury Phuket Co Ltd chief executive Attasit Intarachooti: “The luxury villa market in Thailand, particularly in resort destinations, continues to show remarkable resilience and growth. Data from Colliers Thailand shows significant price appreciation in prime areas, with top villas in Kamala and Bang Tao reaching THB296.2 million and THB270 million, respectively.”

At present, Botanica Luxury Villas’ portfolio includes 27 projects across three major tourist destinations. Its 2025 pipeline features several mixed-use developments designed to elevate the region’s luxury offerings.

A key highlight for this year is Botanica Grand Avenue, a THB12-billion mega-project near Phuket’s Bang Tao Beach, which includes HYTHE by Botanica, the company’s first luxury condominium project, already securing 40% percent of pre-launch sales.

Additionally, a THB18-billion high-end condominium project is under development in Cherng Talay, just 500 meters from Bang Tao Beach. This landmark project will feature an art-inspired walking street and upscale retail spaces, positioning the area as a luxury lifestyle hub.

These expansions align with Thailand’s broader strategy to establish its resort destinations as global luxury hotspots. Recent data reveals the Phuket villa segment launched 1,285 new units across 65 projects in the first half of 2024 alone, valued at THB36 billion.

To support this growth, Botanica Luxury Villas also unveiled its new 1,885-square-meter headquarters, which will serve as a one-stop service center for international clients and investors.