What happened
Savills (Thailand) has published a forecast for Phuket's retail property market. The consultancy expects shop and mall space on the island to rise by close to 30%, reaching 601,819 sq m by 2029. Developers are adding projects aimed at tourists, residents and foreigners who stay for long periods.
New openings this year include POP Phuket, a community mall from Central Land and Development. The Bangkok Post reported the forecast on 8 October 2026.
The numbers
At the end of 2025 Phuket had 432,630 sq m of retail space. Of that, 400,345 sq m was let, giving an occupancy rate of 92.5%.
Savills projects supply of 464,630 sq m in 2026 and 501,819 sq m in 2027, rising to 601,819 sq m by 2029.
Phuket City is the biggest retail district, with 163,630 sq m or 37.8% of the total. Patong follows with 104,000 sq m, or 24%. Cherng Talay holds about 61,000 sq m, a 14.1% share.
Retail follows the villas
Phattarachai Taweewong, senior director at Savills, says Phuket is turning from a holiday destination into an international hub for tourism and services. In his view, investment is redrawing the island's urban map.
Retail is drifting away from the old commercial and tourist centres. It is moving towards the newer residential and resort clusters on the west coast. Luxury hotels, branded residences and upmarket villas are driving that move, along with a rising number of long stay foreign residents who have money to spend.
Community malls, smaller centres serving nearby residents, have multiplied over the past three years. New schemes cluster in Bang Tao, Cherng Talay and Kamala, where housing and resort building continues. Taweewong sees Cherng Talay as a possible new hub for shopping and leisure aimed at wealthy residents and visitors.
Rents and competition
Monthly rents run from 700 to 3,000 baht per sq m, depending on location and format. Prime community malls achieve 1,200 to 1,500 baht. Sites that serve big spenders reach 2,000 to 2,500 baht, and a few top 3,000 baht.
Some projects add a cut of around 18 to 25% of tenant gross profit on top of base rent. That lets landlords share in how well their tenants trade.
More supply between 2026 and 2029 will sharpen competition in Phuket City, Bang Tao and Cherng Talay, Thalang, Patong and Rawai. Taweewong expects winners to stand out through concept, brand mix and visitor experience rather than sheer size.
The market is also diversifying. Growth spans large shopping centres, community malls, lifestyle malls, destination retail and wholesale formats. Shopping is increasingly woven into homes, hotels, restaurants and entertainment.
What it means for Bali
Phuket and Bali chase the same buyers: affluent foreigners who come for long stays and buy villas. The Savills data show that on Phuket this demand is already reshaping infrastructure. Shops, restaurants and leisure are moving to where villas and branded residences are going up.
For a buyer weighing the two islands, that could make Phuket's villa districts more convenient over time. Bali has to match it with comparable services around its own villa areas.
The report covers Thailand only and contains no figures for Bali. The lesson still travels: how livable an area is for long stay residents depends on what is built around a villa, not just on the villa itself.