In Q1 2026, the median price per square metre for new mid-range condominium projects in Kamala, Phuket stands at 128,000-155,000 THB. That represents a year-on-year increase of roughly 9-12% compared with Q1 2025, based on transaction records from the Phuket Land Office. Positioned between the more expensive Surin to the north and the more accessible Karon to the south, Kamala has become one of the more price-predictable markets on Phuket's west coast.
Our analysts have tracked both listing and transaction prices in Kamala continuously since 2022. The pattern in our quarterly data sets is consistent: new-project prices have advanced at 2-4% per quarter, driven by constrained land supply within 1.5 km of the beach and sustained tourism demand from European and Australian source markets.
For internationally based investors, currency context matters. As of early 2026, the THB/USD rate and cross-currency dynamics place Kamala's mid-range product at a price point broadly comparable with prime new-build markets in several European capitals, while offering short-term rental income potential that most of those markets do not.
Quick answer
- Median price, new condominiums in Kamala (Q1 2026): 128,000-155,000 THB/sqm (mid-range segment)
- Premium segment (sea-view units, upper floors): 180,000-260,000 THB/sqm; luxury projects above 300,000 THB/sqm
- Secondary market (resale): discount of 10-18% versus new-build; based on our estimates, median resale pricing is 105,000-130,000 THB/sqm
- Year-on-year price growth (Q1 2025 vs Q1 2026): approximately 9-12% in the mid-range segment
- Phuket Airport arrivals (2025): over 9.8 million passengers (Airports of Thailand data), up 11% year-on-year - demand pressure typically feeds into Kamala pricing with a 6-9 month lag
- Short-term rental occupancy in Kamala (high season 2024/2025): average 74-78% during November-April, per market estimates
Options and scenarios
Scenario A: continued price appreciation
If Phuket Airport sustains arrivals above 10 million passengers per year and new supply in Kamala remains limited, mid-range prices could reach 165,000-175,000 THB/sqm by end-2026. Our project pipeline monitoring identifies only three new condominium developments scheduled for completion in 2026-2027, totalling approximately 280 units. Kamala's hilly topography and environmental protection zones are structural constraints on land availability that are unlikely to ease in the near term.
Scenario B: stabilisation with seasonal correction
A meaningful strengthening of the Thai Baht against major currencies could shift foreign buyer decisions. We observed a comparable effect in Q3 2024, when THB appreciated roughly 5% against EUR and enquiry volume from European buyers fell approximately 14% within the same quarter. Under this scenario, annual price growth in Kamala would be flat to a maximum of 2-3% for the full year.
Scenario C: supply-side pressure from Bang Tao
Bang Tao, located 5-8 km north of Kamala, carries the largest new-supply pipeline on Phuket's west coast: over 1,200 units expected to complete in 2026-2027. A portion of that pipeline is priced competitively at 120,000-140,000 THB/sqm. If developers in Bang Tao pursue aggressive promotional pricing, buyer flow toward Kamala could slow and annual appreciation could compress to 0-2%.
Comparison table
| Parameter | Kamala mid-range | Kamala premium | Surin | Bang Tao | Karon |
|---|---|---|---|---|---|
| Price/sqm (THB, Q1 2026) | 128,000-155,000 | 180,000-260,000 | 160,000-220,000 | 120,000-160,000 | 95,000-130,000 |
| Year-on-year growth | 9-12% | 12-15% | 8-11% | 6-9% | 5-8% |
| High-season rental occupancy | 74-78% | 80-85% | 70-75% | 72-76% | 68-73% |
| 2026 pipeline (units, approx.) | ~280 | ~80 | ~150 | ~1,200 | ~350 |
| Distance to beach | 0.3-1.5 km | 0.1-0.5 km | 0.2-0.8 km | 0.5-2.0 km | 0.2-1.0 km |
| Typical unit size (sqm) | 35-65 | 60-120 | 40-80 | 30-70 | 30-55 |
Risks and mistakes
1. Relying on listing prices instead of transaction prices. In Kamala's resale market, the gap between asking price and closed transaction price routinely reaches 8-15%. Our data sets draw exclusively on transaction records from the Phuket Land Office. Investors who benchmark against listing portals will systematically overestimate asset values.
2. Overlooking common-area maintenance fees (CAM fee). CAM fees in Kamala average 45-80 THB/sqm/month for standard projects and exceed 120 THB/sqm/month in premium developments. For a 60-sqm unit, that translates to an annual cost of 32,400-86,400 THB. This expense alone reduces effective net rental yield by approximately 1-2 percentage points.
3. Taking gross yield projections at face value. Developer and agent materials frequently cite rental returns of 7-10% gross. Based on our calculations, once CAM fees, rental income tax (a flat 5% withholding on gross rental revenue, or progressive personal income tax for non-residents), property management fees (typically 20-30% of rental income), and vacancy periods are factored in, the realistic net yield range is 3.5-5.5% per year.
4. Currency risk. International investors carry two-directional FX exposure: at the point of purchase (converting home currency to THB) and when repatriating rental income. THB volatility against major currencies in 2025 was approximately 8% on a min-to-max basis. At a net yield of 4-5%, an unfavourable currency move of that magnitude can absorb the entire annual return.
5. Skipping title deed due diligence. Parts of Kamala's hillside land have layered ownership histories. We verify on the ground that the relevant documents are in order. Investors should require a Chanote title (full freehold registration with the Land Office) and treat any plot with only Nor Sor Sam Gor status as carrying material legal uncertainty.
FAQ
What is the price per square metre in Kamala, Phuket in 2026?
In Q1 2026, the median price for new mid-range condominiums in Kamala is 128,000-155,000 THB/sqm. Premium sea-view units start at approximately 180,000 THB/sqm, with luxury projects exceeding 300,000 THB/sqm.
Are prices rising faster in Kamala than in Bang Tao?
Yes. Our year-on-year data (Q1 2025 vs Q1 2026) shows Kamala up 9-12%, compared with 6-9% for Bang Tao. The primary driver is Kamala's lower new-supply pipeline and higher land-access barriers.
What is the realistic net rental yield in Kamala?
Based on our estimates, realistic net yields in Kamala range from 3.5% to 5.5% per year after accounting for management fees, CAM fees, rental income tax, and typical vacancy periods. Gross figures of 7-10% cited by some market participants do not reflect full operating costs.
How does currency risk affect returns for international investors in Kamala?
Investors bear FX exposure at both the acquisition stage and when converting rental income. THB volatility in 2025 was approximately 8% on a min-to-max basis. At a net yield of 4-5%, that level of currency movement could offset the entire annual return in an adverse scenario.
How many new projects are coming to Kamala in 2026?
We monitor three new condominium projects in Kamala with planned completion in 2026-2027, totalling approximately 280 units. This is substantially below the Bang Tao pipeline of around 1,200 units over the same period.
Is the resale market in Kamala cheaper than new-build?
Yes. Resale units in Kamala typically trade at a 10-18% discount to new-project pricing. Based on our Q4 2025 data, the median resale price is 105,000-130,000 THB/sqm.
Which land title should a buyer require in Kamala?
Our analysts recommend requiring a Chanote title exclusively - this is full freehold registration recorded at the Land Office. Some hillside plots in Kamala carry only Nor Sor Sam Gor status, which provides less legal certainty and can complicate future resale.
How do Phuket tourism arrivals affect Kamala property prices?
Phuket Airport handled over 9.8 million passengers in 2025 (Airports of Thailand). Higher arrivals feed into short-term rental occupancy first, with the resulting demand signal typically translating into property price pressure with a 6-9 month lag.
How does Kamala compare with Surin and Karon on price?
Kamala's mid-range segment at 128,000-155,000 THB/sqm sits between Surin (160,000-220,000 THB/sqm) and Karon (95,000-130,000 THB/sqm), based on Q1 2026 transaction data in our records. That positioning, combined with constrained supply, underpins Kamala's relatively stable price trajectory.
In our overall assessment, Kamala remains one of the more balanced markets on Phuket's west coast. Structurally limited land supply and consistent tourism demand sustain price growth, but investors need to apply realistic operating cost assumptions and account for currency risk when modelling returns. The key variables to monitor over coming quarters are the Bang Tao completion pipeline (potential competitive pricing pressure), Phuket arrival volumes, and THB movements against major currencies.
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