The idea of treating Phuket, Phang Nga and Krabi as one economy has moved from conversation to proposal.
At the Phuket Real Estate Association’s sustainability seminar on 23 September 2026, Khun Montavee Hongsyok, President of the Phuket industry and Vice President of the association, set out the case for the three provinces to become one special economic zone. Interest has now reached ministerial level, with work under way to study how it could be taken forward.
For anyone buying on the Andaman coast, that is worth understanding properly. Here is what was proposed, what the market looks like today, and how we would approach it as your advisor.
What One Andaman proposes
“It’s a system,” Khun Montavee told the room. “It’s the strengths of each province, connected together.”
The asks were specific: marina development, tax measures, a special visa route linked to investment, easier import of boats and investment incentives. “We already have everything,” he said. “We can push this forward if we have a clear brief.”
The idea builds on a long conversation. Proposals to make Phuket alone a special economic zone were already being submitted in 2018, when the island became Thailand’s first Smart City pilot. One Andaman widens that to three provinces, and it fits national planning, which already promotes an Andaman Wellness Economic Corridor across Phuket, Krabi, Phang Nga and Ranong.
The market it would land on
The fundamentals are strong. Figures presented at the seminar put Phuket’s gross provincial product at 272.4 billion baht in 2024, about USD 8.3 billion, up 19.25% on the year before. Phuket recorded 8.10 million tourist arrivals from January to July 2026.
Property demand is led by international buyers. CBRE reported that 67% of Phuket condominium purchasers in the first half of 2026 were international, against 33% Thai. The same research recorded Phuket sales growth of more than 45% over the same period.
Supply is concentrated close to home for us. The Agency for Real Estate Affairs’ year end 2025 survey, reported in May 2026, counted 777 projects on the island with 88,997 units, 9,463 of them unsold. Thalang held 47% of that supply, and at the recorded sales pace the unsold stock would clear in around 22.8 months.
Nationally the picture is more mixed. Foreign condominium transfers across Thailand totalled 6,533 units in the first half of 2026, down 8.8%, while their value fell only 1.5% to 28.267 billion baht. Buyers are becoming more selective, and quality locations are holding up best.
Asa Marsh on the zone
Asa Marsh, Managing Director of Easy Living Phuket, believes a zone covering all three provinces would speed up the projects the region needs.
“Phuket, Phang Nga and Krabi becoming a special economic zone would mean infrastructure projects could be moved along a lot faster,” he said. “It would mean superior infrastructure and better connectivity, and property investment in this area would look a lot more special to a lot of buyers. Access is everything.”
He also points to land. “Phuket is an island, which means limited land to build on. Put Phuket, Krabi and Phang Nga together and you’ve got supporting airports, supporting land, and those peaceful parts when you’re looking for them.”
How we would approach it
A special economic zone is a proposal, and proposals take time. Our advice is to buy on what a property and its location offer today, and treat any zone as an added benefit.
Ownership structure matters more than ever. Since 1 January 2026 the Department of Business Development has required proof of source of funds for newly incorporated Thai companies, extended to company amendment filings from 1 April 2026. Freehold condominium ownership remains open to foreigners within the 49% foreign quota of a building, and registered leasehold remains a recognised route for villas and land.
That is where a curated approach earns its keep. Our network of vetted lawyers, accountants and visa specialists checks the title, the structure and the numbers before you commit, and we will tell you plainly when a deal is not right for you.
If you’d like to talk through how One Andaman could shape your plans, speak to the Easy Living Phuket team.
Rate used: 32.9 baht to the US dollar, September 2026. This article is for general information only and is not legal, tax or financial advice.
