The Living Costs in Phuket, Cheap or Extreme in 2024?

So, you’re thinking about moving to Phuket, Thailand? Or maybe just curious about how much it costs to live on an island paradise? Either way, buckle up buddy….because we are diving into the details of living costs in Phuket. 

Spoiler alert: It’s not as pricey as you might have heard! 

Is Phuket Expensive Compared to Other Parts of the World?

First things first, let’s see how Phuket stacks up against some major global cities. 

Compared to New York, London, Singapore or Sydney, Phuket feels like a bargain.
Imagine paying New York rent but getting Thai beaches instead. Yep, it’s a sweet deal! 

But how much cheaper is it really? 

Thank the gods someone has done the heavy lifting here.
Numbeo.com was very useful here to get some round numbers to work with.
They use New York City as the baseline for their cost of living index. With NYC as the baseline; 

London 21% cheaper than NYC overall but 31% cheaper rent. 

Sydney 27% cheaper than NYC overall but 49% cheaper rent. (2nd guessing the accuracy now)

Singapore 23% cheaper than NYC overall but 33% cheaper rent. 

With Bangkok (Don’t have Phuket listed) at whopping 60% cheaper overall AND an earth shattering 84% cheaper rent. That means if you’re spending $4k a month in NYC you could be spending less than $800 a month in Bangkok. If you wanna check out that 👉 cost of living rankings
To read more about the index they use read this. 

Few examples of budgeting in Phuket;

• Basic Groceries: A liter of milk costs around 50 THB ($1.50), a loaf of (wonder white style) bread is 35 THB ($1), and a hand of bananas? Just 60 THB ($1.70). However imported products like chorizo, steaks, cheese, meat pies (god I miss a good meat pie) and other speciality items will have you paying either the same as home or likely more. This is one of the trade offs, you get the sandy beaches and yummy Thai food, but kiss Costco and Woolworths goodbye. 
• Dining Out: Street food is king here. A pad Thai from a street vendor is about 60 THB ($2), while a meal at a mid-range restaurant might set you back 300-400 THB ($9-$12). Be aware that tourist areas (and even specific venues) command a higher price simply because they cater to foreigners. 
• Utilities: Expect to pay around 2,500 THB ($70) for electricity, water, and internet combined per person. You might be able to do it cheaper when in a family unit, but better to be over than under. A pool and how often you run your air conditioner as a big role in this. Also power units are either directly with the government provider (the cheapest rate) or your accommodation might charge a higher per unit fee if there is no specific meter for your apartment or condo. This is a consideration when selecting somewhere to rent long term. Especially if your power hungry! Understanding these factors is crucial when calculating the overall living costs in Phuket.
• Transportation: Local buses (songthaews) are 30 THB ($1), and a 10 km taxi ride is around 300 THB ($9). Not bad, right? In some areas like Patong tuk tuks are the primary tourist method of transport, and these have fixed prices that are a little high, so be warned. We do now have some “Uber like” apps that can help you get around cheaper and easier. Bolt & Grab check them out. Grab has motorbike taxi options which are very affordable. However if you’re going to be staying long term, then you must either rent a motorbike or a car. There is a wide range of costs, however a motorbike for the month starts from as low as 3,000THB ($85) and car from 14,000THB ($400). New application called “Scoot” will help you rent a motorbike Airbnb style.

Rent and Accommodation in Phuket

This is where you see some major savings, or a huge step up in quality of life. It’s all budget dependent. Say you are used to an apartment living in a western city, you can either save a fortune or opt to ball out in a pool villa for a comparative price. 

Here are a few examples of what you can get for your money in Phuket. 

1 Bedroom condo in Naiharn/ Rawai 30,000 to 40,000 THB

3 Bedroom pool villa in Chalong 80,000 to 140,000 THB

2 Bedroom condo in Kamala 30,000 to 40,000 THB

4 Bedroom pool villa in Bangtao 90,000 to 150,000+ THB

There are deals around and you can get a place for cheaper than mentioned, but you can also pay many multiples for extreme luxury, there is a huge variety of accommodation options on Phuket island. Compare that to New York where you’d pay that for a shoebox in Brooklyn.

Is Phuket Expensive Compared with Other Parts of Thailand?

Now, how does Phuket compare to other hotspots in Thailand?

Bangkok: The capital is slightly pricier, especially when it comes to rent and dining out. Think of it as Phuket’s big city cousin who likes to splurge a little, especially when it comes to a big night out on the town. 

Chiang Mai: Cheaper than Phuket, particularly in terms of rent. It’s like the hip, artsy sibling who’s great for a budget-friendly lifestyle. Mountain life, lots of digital nomads love Changmai. However with a few months of yearly burn off which makes going outside without a mask uncomfortable. 

Pattaya: Similar to Phuket, but with a bit more nightlife hustle. The beach also isn’t as pristine as its situated in the South China Sea. Costs are comparable, with some fluctuations depending on where you stay.

Reasons for Cost Differences: Phuket’s island charm and tourist influx drive prices up a bit. But hey, you’re paying for those Instagram-worthy sunsets, and the convenience of having everything at your fingertips. 

How Much Do You Need to Live Comfortably in Phuket?

Let’s break down a basic comfy monthly budget for a single person in Naiharn. 

• Rent: 30,000 THB ($850) for a decent one-bedroom condo
• Utilities: 2,500 THB ($70).
• Food: 15,000 THB ($425) if you mix eating out and cooking at home.
• Transportation: Motorbike rental 3,000 THB ($90).

Total: Around 55,500 THB ($1,565). Not bad for the basics of living the island dream!
Obviously you need to add your fun and entertainment on top of it, lets try this again but with a little more luxury and a little more of the added extras. 

“Living it up budget” for a single person in Bangtao, Phuket. 

• Rent: 90,000 THB ($2,540) killer 2 bedroom pool villa
• Utilities: 6,000 THB ($170) running the AC most of the day and running the pool. 
• Food: 30,000 THB ($850) eating out 80% of the meals. 
• Transportation: Car rental 18,000 + Bigger bike rental 6,000 THB ($680) (via Skoot)
• Regular Cleaning, Gardening & Pool Maintenance: 10,000THB ($280)
• Relaxing: 3 times a week massage and sauna, steam and ice bath 6,000 ($170) 
• Fitness: Monthly Muay Thai 3,500 + Gym membership 3,500 total 7,000 ($200)

Total budget: 173,000 THB or $4,890 USD. How far does all this stretch in your current home country? Does the quality of life sound good? Not to mention all the free extras, like sunsets walks along the beach or mid-day swims in the sun!

Few extra things to note…

Health Insurance and Medical Costs: Budget around 3,000-5,000 THB ($90-$150) per month for insurance. Healthcare here is very good and reasonably priced.

Lifestyle Choices: If you prefer fancy dining and weekend getaways, bump that budget up a bit. If you live like a local, you could save even more. It doesn’t take long to find your favorite spots around the island. 

Visas: Excited to share that Thailand recently launched a brand new visa option that is extremely good value and covers a broad range of requirements. It’s called the DTV it costs around 10,000THB ($280) for 5 years with a little extra for some extensions. You can read all about the DTV here.

But that’s not all, there are lots of different visa options, our friends at Phuketsouth.com put this visa blog together read about them all here or find a consultant on the ground that can help.

Changing gears to the older and wiser crew amongst us….

How Much Do You Need to Retire in Phuket?

Dreaming of retiring in Phuket? Here’s what you need to know:

Retirement Visa Requirements: You’ll need a minimum monthly income of 65,000 THB ($1,950) which can be in any form, like a pension payment or a dividend or at least 800,000 THB ($24,000) in a Thai bank account. Which someone on the ground will help you setup when you apply for the visa. For retirees Thailand wants to see the money in the bank here. Also medical insurance is now a must for this visa. But the requirements are very low and plenty of vendors here willing to cover you. Medical treatment is a dream over here. Considering the living costs in Phuket, it’s quite manageable.

Lets try this again…with more wrinkles.

Monthly and Annual Budget for Retirees:

• Housing: Renting a nice condo 30,000 THB ($850) per month.
• Healthcare and Insurance: Allocate about 5,000 THB ($150) monthly.
• Daily Living Expenses: Around 45,000 THB ($1,270) should cover food, transport. 

Annual Total: Approximately 960,000 THB ($27,100). It’s pretty doable for a comfortable retirement!

Golf in Phuket: There are 9 high quality courses on the island with average pricing from 3,000-5,500 THB ($90-$165) for 18-Holes Green Fees and then 800-1,100 for cart and caddie fees. With a membership these fees can be drastically cut for those who regularly play. Also its custom to tip the caddies 400-1,000 THB per game at your discretion. You can find more details here at PhuketGolfCourse.com.

Hidden Costs to Consider

• Visa and Immigration Fees: These can add up, so budget accordingly.
• Taxes and Legal Fees: If you plan on buying property, be aware of these.
• Unexpected Expenses: Always have a buffer for those “just in case” moments.

Cost-Saving Tips

• Shop at Local Markets: Fresh produce is cheaper and tastier.
• Use Public Transportation: It’s efficient and wallet-friendly.
• Find Affordable Accommodation: Look outside the main tourist areas for better deals.
• Eat at Local Eateries: Street food is not only delicious but also easy on the pocket.

Impact of Tourism on Living Costs in Phuket

High tourist seasons can drive prices up, especially in popular areas. Off-season living is cheaper and quieter.

Quality of Life in Phuket

• Safety and Security: Generally safe, with friendly locals and a welcoming expat community.
• Community and Social Life: Plenty of social events and groups for expats.
• Accessibility to Amenities and Services: Good hospitals, schools, and shopping centers.

Conclusion

So, there you have it! Living in Phuket in 2024 is affordable and offers a fantastic quality of life. The living costs in Phuket is reasonable, making it possible to “live like a king” here without breaking the budget. Whether you’re planning to move, retire, or just curious, Phuket has something for everyone without breaking the bank. Ready to pack your bags?