In Q1 2026, per-square-metre prices in off-plan projects on Phuket's west coast range from 95,000 to 180,000 THB/m², depending on district, build standard and proximity to the beach. We monitor pricing across Bang Tao, Layan, Kamala and Surin, and our data consistently shows that the off-plan discount compresses as construction advances - but still represents a measurable entry advantage for early-stage buyers. On Koh Samui, the off-plan segment is shallower: in Bophut and Maenam, new villa projects are priced from 6.5 to 9.5 million THB per unit (120-180 m²), with a discount of roughly 10-18% versus comparable completed inventory - and significantly fewer active projects than on Phuket.
A lower off-plan price is not a free discount. It is compensation for construction risk, developer risk and currency risk that the buyer absorbs. Below we break each of those components down into measurable variables.
Quick answer
- Off-plan prices on Phuket's west coast in 2026: 95,000-180,000 THB/m², varying by district and specification
- Off-plan discount versus secondary market: roughly 15-25% at reservation stage, narrowing to 5-8% near handover
- Typical payment schedule: 5-7 instalments spread over 18-30 months of construction
- Reservation deposit: usually 100,000-300,000 THB, non-refundable in the majority of contracts we have reviewed
- There are no escrow accounts for foreign property buyers in Thailand - buyer protection rests entirely on contractual clauses and developer track record
- Koh Samui: fewer off-plan projects, villa entry from approximately 6.5 million THB in Bophut or Maenam
Options and scenarios
Option A - pre-sale entry (before building permit is issued)
This stage offers the largest discount but the highest exposure. The buyer pays a reservation deposit of 100,000-200,000 THB and waits for the Building Permit and, where required, the Environmental Impact Assessment (EIA) report. EIA approval is mandatory for projects exceeding 80 units or located in coastal zones, and is administered by ONEP (Office of Natural Resources and Environmental Policy and Planning). In our tracking, EIA procedures have delayed projects by 6-14 months in cases involving land adjacent to national park boundaries in Layan and Kamala. The buyer's negotiating position is strongest at this stage. We always check whether the purchase contract includes a clause allowing full deposit refund if the permit is not granted.
Option B - entry after construction starts (foundations complete)
The discount is smaller by 3-7 percentage points relative to pre-sale, but the building permit is already in hand and the developer has committed its own capital to the foundations. Regulatory risk drops sharply. In Bang Tao and Surin, we observe that projects at this stage are priced 12-18% below comparable completed units in neighbouring developments. This is the entry point our analysts most frequently model as the risk-adjusted baseline.
Option C - entry at shell-and-core stage (50-70% construction complete)
Discount versus secondary market narrows to 5-10%. The buyer can physically inspect construction quality. Remaining risk centres on fit-out and technical handover. The payment schedule is compressed to 2-3 instalments rather than 5-7. We track this option for buyers who prioritise process visibility over maximum price advantage.
Comparison table
| Parameter | Pre-sale (Option A) | After foundations (Option B) | Shell-and-core (Option C) |
|---|---|---|---|
| Discount vs secondary market | 20-25% | 12-18% | 5-10% |
| Capital committed at entry | 10-15% of price | 30-40% of price | 50-70% of price |
| Time to handover | 24-30 months | 14-20 months | 6-10 months |
| Regulatory risk (EIA, permits) | High | Low | Minimal |
| Construction risk | High | Medium | Low |
| Buyer negotiating leverage | Highest | Medium | Low |
| Number of instalments | 5-7 | 3-5 | 2-3 |
| Indicative price - Phuket west (THB/m²) | 95,000-140,000 | 110,000-155,000 | 125,000-170,000 |
| Indicative price - Koh Samui villa (million THB) | 6.5-8.0 | 7.5-9.0 | 8.5-9.5 |
Typical off-plan payment schedule - Phuket condominium, 2026
Based on contracts we monitor across Phuket's west coast, a standard payment breakdown looks as follows:
- Reservation: 100,000-300,000 THB (credited against purchase price or non-refundable, depending on contract)
- Contract signing (within 30 days of reservation): 20-30% of price
- Foundations complete: 10-15% of price
- Structural frame complete (shell-and-core): 15-20% of price
- Fit-out and interiors: 10-15% of price
- Technical handover and title transfer: 20-30% of price
To illustrate risk exposure: on a unit priced at 8 million THB, a buyer will have paid approximately 3.6-4.4 million THB (45-55% of the total) before the unit is complete, typically around month 12 of a 24-month build. Each million baht paid before handover represents funds whose recovery, in the event of developer insolvency, requires litigation in a Thai court.
Risks and mistakes
Risk 1 - EIA and permit delays
Projects above 80 units on Phuket require an EIA approved by ONEP. Standard processing time is 6-12 months, but in environmentally sensitive zones such as Layan and Nai Harn, we have tracked cases of delays exceeding two years. The critical contract clause to verify is the long-stop date - a fixed deadline after which the buyer may withdraw and recover all payments made.
Risk 2 - developer restructuring or project transfer
In Thailand, a development is typically held by a special purpose vehicle (SPV). If the SPV changes ownership or is transferred to another entity, contractual obligations to buyers formally remain, but enforcing them becomes materially more complex. We verify the SPV's registered share capital and the parent group's track record of completed projects before forming a view on counterparty quality.
Risk 3 - no meaningful delay penalties in the contract
Many standard off-plan contracts in Thailand either omit delay penalties entirely or set them at a nominal 0.01% per day of sums paid. Based on our review of contracts signed in 2025 and 2026, only roughly 30-40% of Phuket projects include penalty clauses at 0.05-0.1% per day - a level that creates genuine commercial pressure on the developer to deliver on schedule.
Risk 4 - fit-out quality diverging from specification
The fit-out phase generates the highest volume of buyer disputes we observe. A robust contract should include a detailed specification schedule listing materials by brand, model and grade, together with a formal snag-list procedure and a defined timeline for remediation. The absence of a signed specification schedule is a clear warning indicator.
Risk 5 - currency exposure over a 24-30 month payment window
Buyers funding purchases from outside Thailand are exposed to THB fluctuations across the full payment timeline. Over 2023-2025, the THB moved within a range that, on an 8-million-THB commitment, would represent a cost variation of over 100,000 PLN equivalent between the extreme rates observed. We suggest spreading currency conversions across the instalment schedule rather than converting the full amount upfront.
Common mistakes buyers make
- Paying the reservation deposit before verifying that the building permit exists or is imminent
- Signing a contract with no long-stop date and no meaningful delay penalty
- Assuming the reservation deposit is refundable - in approximately 80% of contracts we have reviewed, it is not
- Overlooking transfer costs at handover: stamp duty 2%, specific business tax 3.3%, withholding tax - combined 5-6.3% of the registered price
- Treating marketing renders as a binding specification - only the technical schedule attached to the signed contract is enforceable
FAQ
What are off-plan prices in Phuket in 2026?
On Phuket's west coast - covering Bang Tao, Layan, Kamala and Surin - off-plan condominium prices in 2026 range from 95,000 to 180,000 THB/m² based on our current data set. The position within that range depends on beach proximity, specification level and the developer's market positioning.
How large is the off-plan discount versus buying a completed unit in Phuket?
Based on our 2026 estimates, the discount at pre-sale stage is 20-25% relative to comparable completed units in the same district. At shell-and-core entry, that discount narrows to 5-10%. The discount is most pronounced in the condominium segment in Bang Tao and Layan.
Is the reservation deposit refundable when buying off-plan in Thailand?
In approximately 80% of contracts we have reviewed, the reservation deposit (100,000-300,000 THB) is non-refundable once the window to sign the main purchase agreement has passed - typically 14-30 days. Refundability is determined solely by contract terms. There is no statutory protection.
What legal protections does a foreign buyer have when purchasing off-plan in Thailand?
There are no escrow accounts for foreign real estate buyers in Thailand. Buyer protection rests on contractual provisions: a long-stop date, delay penalties, a binding technical specification schedule, and a right to rescind with refund. In practice, the developer's track record of completing and delivering prior projects is the most reliable indicator of counterparty reliability.
How long does an off-plan build in Phuket typically take?
For a condominium of 50-150 units, the standard construction period is 18-24 months from building permit issuance. Villas typically require 12-18 months. Our analysts treat delays of up to 3-6 months as within normal market range; delays exceeding 6 months are treated as a signal requiring further investigation.
What additional costs does a buyer pay at off-plan handover in Thailand?
Transfer and tax costs at handover total approximately 5-6.3% of the registered price (stamp duty, specific business tax, withholding tax, with the split between buyer and seller subject to negotiation). Additional one-off costs include the sinking fund (400-800 THB/m²) and the first common area maintenance charge (40-80 THB/m² per month). Total additional costs at handover are typically 7-9% of the purchase price.
Can a foreign national purchase an off-plan condominium in Phuket?
Yes. Foreign nationals may hold a condominium unit on a freehold basis provided the aggregate foreign quota in the building does not exceed 49% of total floor area. Funds must be remitted from abroad to a Thai bank account with a reference indicating the purpose as property purchase. The receiving bank issues a Foreign Exchange Transaction (FET) certificate, which is a mandatory document for registering title at the Land Department.
How does the Koh Samui off-plan market compare to Phuket?
Koh Samui has a substantially smaller off-plan supply. In 2026 we monitor approximately 8-12 active villa projects in Bophut, Maenam and Lamai, compared to more than 60 active projects on Phuket. Villa entry prices on Koh Samui start from around 6.5 million THB off-plan. The discount versus completed inventory is smaller (10-18%), but the market is less saturated and competition among buyers at individual project level is lower.
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