Sansiri Launches Two Phuket Condos Worth THB 3 Billion

Sansiri is preparing to launch two condominium projects in Phuket with a combined value of THB 3 billion. The developments target distinctly different demand pools: THE BASE Midtown–Phuket is positioned for urban residents and local professionals, while CANVAZ Palette Cherngtalay is a luxury well-being residence designed for international buyers, second-home owners and long-stay residents.

The dual launch illustrates how Phuket’s residential market is becoming more segmented. Demand is not limited to holiday homes or overseas investors; the island also has an urban housing market supported by employment, healthcare, retail and everyday services.

THE BASE Midtown–Phuket targets urban demand

THE BASE Midtown–Phuket is planned on approximately four rai in Ratsada, Mueang Phuket. The THB 1.1 billion development will comprise 394 units, with prices starting at THB 2.79 million.

Layouts include one-bedroom units of 26.75–48.50 square metres and two-bedroom units of 57.75–58.50 square metres, together with Pool Access and Garden Access options. Amenities include a 50-metre swimming pool, fitness facilities, co-working space, EV charging, landscaped areas and a pet-friendly concept.

The location is approximately one kilometre from Lotus’s Phuket, 1.3 kilometres from Bangkok Hospital Phuket and three kilometres from Central Phuket. Sansiri plans to open the showroom and begin pre-sales on 24 September 2026.

The developer estimates a rental yield of 9–11%. This is not a guaranteed return. Prospective investors should test the estimate against achievable rents, occupancy, common-area fees, management costs and Phuket’s seasonal demand before committing.

CANVAZ Palette Cherngtalay focuses on luxury well-being

CANVAZ Palette Cherngtalay is a joint venture between Sansiri and Four P Holding. The THB 1.9 billion project will occupy approximately five rai and comprise two seven-storey low-rise buildings with 248 fully furnished units.

The unit mix includes one-bedroom residences of 42.5–45.5 square metres, two-bedroom residences of 61.5–64 square metres and duplex units of 84.75–103.5 square metres, as well as Pool Access units. Parking is planned for approximately 50% of the unit count. Two-bedroom prices start at THB 8.99 million.

Located near Porto de Phuket and Boat Avenue, the project is designed around the Cherngtalay lifestyle and long-stay market. Sansiri is collaborating with VitalLife, part of Bumrungrad International Hospital, on the well-being proposition. Planned facilities include an outdoor onsen, jacuzzi, sauna, cold shower, massage chairs, yoga and fitness areas, co-working space, a pet yard and EV charging.

The showroom and pre-sales are scheduled for 1 October 2026. The company estimates rental yields of 8–11%, but actual performance will depend on seasonality, unit position, lease duration, operating costs and competing supply.

Two locations, two different investment cases

The projects highlight two very different Phuket demand profiles. Mueang Phuket benefits from local employment, business activity, healthcare and daily services. Cherngtalay attracts international residents, second-home buyers and long-stay tenants who generally prioritise space, lifestyle services and property management.

Owner-occupiers should compare commuting time, usable space, common-area charges and whether the amenities support their daily routines. Investors should examine foreign ownership quotas, rental rules, property-management fees, seasonal occupancy and real closed rental transactions. A headline yield should be treated as a scenario to verify, not a promise.

For existing owners and sellers, new supply across both mid-market and luxury segments will raise expectations for fit-out quality, services and tenant management. The launches confirm continued developer interest in Phuket, but performance will ultimately depend on the depth of real demand and disciplined operating costs.

For a data-led comparison of Phuket condominiums for living, investment or resale, contact Connex Property.

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