Resort Property Comparison · Price Index
Phuket vs Bali vs Dubai vs Portugal.
The four-market resort price index 2026.
A four-market side-by-side price index for foreign resort investors: Phuket, Bali, Dubai and Portugal's Algarve, benchmarked on luxury price per square metre, yield, ownership pathway, transaction cost and structural liquidity in 2026.
30 Second Verdict
Bali leads on absolute price; Phuket leads on freehold-pricing efficiency and operator depth; Dubai and Portugal price as mature markets.
Conviction
HIGH
Investment Thesis
- Phuket and Bali lead on yield
- Phuket and Dubai lead on freehold pathway clarity
- Portugal carries the highest transaction-cost stack
- Phuket is the most balanced market across all five tests
Best For
- Cross-border investors comparing global resort allocations
- Family offices benchmarking yield + freehold + liquidity
- Investors rotating capital between Mediterranean and Asia
- First-time resort buyers selecting a primary base
Recommended Action
Run your shortlist through the five-test index below before allocating capital to any single resort market.
01 The Phuket vs Bali vs Dubai vs Portugal Price Index Thesis
Why phuket vs bali vs dubai vs portugal price index merits institutional attention.
- 01
Five Tests, One Index
Price, yield, ownership, transaction cost and liquidity — all five must be measured together.
- 02
Phuket Wins the Balance
Phuket scores highest across the combined index for foreign resort capital.
- 03
Bali's Leasehold Tax
Bali's price advantage is offset by leasehold-only structures and thinner exit.
- 04
Maturity Premium
Dubai and Portugal price as mature markets; Phuket and Bali carry maturity-gap discount.
Core Investments House View
Global Resort Index House View.
Phuket offers the best balance across price, yield, freehold pathway, transaction cost and exit liquidity. Bali wins on absolute pricing but loses on freehold and exit. Dubai wins on velocity and tax. Portugal wins on EU residency synergy but loses on transaction cost.
Key Takeaways
Resort Price Index 2026 in four points.
- 01
Phuket is the balance
Best score across price-per-sqm, yield, freehold pathway, transaction cost and liquidity.
- 02
Bali = absolute cheapest
Lowest per-sqm — but leasehold-only with renewal and exit-liquidity risk.
- 03
Dubai = velocity
Highest transaction velocity; lowest transaction cost; service charges material.
- 04
Portugal = EU access
Highest transaction cost stack but unique EU-residency optionality.
Phuket vs Bali vs Dubai vs Portugal Price Index · Market Signals
Phuket, Bali, Dubai, Portugal's Algarve — prime luxury benchmarks.
Bang Tao and Layan branded villa / condo benchmark.
Hotel-managed villa net yields lead the comparison set.
Bali is leasehold-only for foreigners.
Section 1 · Price Index
Four-market price index.
Four-market price index.
The summary index benchmarks Phuket, Bali, Dubai and Portugal's Algarve on five tests — price, yield, ownership, transaction cost and structural liquidity.
| Market | Price (luxury) | Yield | Ownership | Transaction cost | Structural note |
|---|---|---|---|---|---|
| Phuket (Bang Tao / Layan) | USD 4,500–7,500 / sqm | 6–10% net (hotel-managed) | Freehold condo; leasehold villa | ~6–7% (transfer + SBT + WHT) | Deep advisor network; mature operator pool. |
| Bali (Canggu / Uluwatu) | USD 3,500–6,000 / sqm | 6–9% gross (variable) | Leasehold / Hak Pakai only | Lease-structure dependent | Lease renewal risk; thinner exit liquidity. |
| Dubai (Palm / Downtown) | USD 6,000–14,000 / sqm | 6–8% gross (short-stay) | Freehold in designated zones | ~4–5% (DLD + agent) | High velocity; high service charges. |
| Portugal (Algarve prime) | USD 7,000–12,000 / sqm | 4–6% (long-stay) | Full freehold | ~10–12% (IMT + stamp) | EU residency synergy; Golden Visa adjusted. |
Indicative bands derived from Knight Frank, CBRE, Savills, JLL and Core Investments intelligence. Price varies materially by view, brand, phase and submarket.
Section 2 · Absolute vs Balanced
Cheapest vs best-balanced.
Cheapest vs best-balanced.
Bali is the cheapest per sqm but leasehold-only with thinner exit liquidity. Dubai is the most liquid and lowest-cost transactionally but prices 2x Phuket on prime sqm. Portugal carries the highest transaction-cost stack but uniquely offers EU residency optionality.
Phuket sits as the best-balanced market: competitive pricing, top yields, freehold condo pathway, moderate transaction cost and the deepest professional advisor and operator network in Southeast Asia.
Section 3 · Ownership
Foreign ownership across the four.
Foreign ownership across the four.
Phuket: freehold condominium within 49% quota; leasehold and company-structure villa. Bali: leasehold or Hak Pakai only. Dubai: freehold in designated zones. Portugal: full freehold. See the foreign ownership framework and foreigner quota guide.
Section 4 · Convergence
Maturity-gap convergence.
Maturity-gap convergence.
Long-cycle pricing shows resort markets converge toward global peer pricing as they mature. Phuket's branded operator pipeline, airport capacity and infrastructure spend all indicate continued convergence toward Dubai and Portugal pricing over the 2026–2030 cycle.
For the structural pricing thesis, see Phuket Affordability Advantage. For the capital-growth mechanics, see Phuket Capital Gain Strategies.
Investor Questions
Phuket vs Bali vs Dubai vs Portugal Price Index, frequently asked questions.
Q01Which of Phuket, Bali, Dubai and Portugal is cheapest per square metre?
Bali typically prices lowest per sqm for leasehold villa inventory, followed by Phuket for freehold condo and branded villa inventory. Dubai and Portugal's Algarve price 2–3x higher per sqm for comparable luxury specification.
Q02Which market has the highest rental yield?
Phuket and Bali lead on gross resort rental yield (typically 6–10% on hotel-managed inventory). Dubai's prime short-term rental yields are comparable in select submarkets. Portugal's Algarve typically delivers 4–6% on long-stay rentals.
Q03Where is foreign freehold available?
Phuket (condominium within 49% quota), Dubai (designated freehold zones) and Portugal (full freehold) all permit foreign freehold. Bali is leasehold-only for foreigners via Hak Pakai or lease structures.
Q04Which market has the lowest transaction cost?
Phuket's combined transfer + SBT + withholding stack typically totals 6–7% on resale. Dubai is 4–5%. Portugal is 10–12% (IMT + stamp duty). Bali's leasehold transfer costs vary by structure and term.
Q05Which market is best for first-time foreign resort buyers?
Phuket: deepest professional advisor network, established freehold condo pathway, transparent transaction process, mature branded operator pool, active resale liquidity.
Reader Q&A
Investor Questions & Answers
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Sources & References
Where this research draws its data (5)
Sources & References
Where this research draws its data (5)
Core Investments cites only published institutional sources. Figures referenced on this page are drawn from, or cross-checked against, the institutions listed below. For our editorial standards and source-vetting process, see our research methodology.
- [1]
Knight Frank
The Wealth Report (Branded Residences & Prime International Residential Index) · 2024
https://www.knightfrank.com/wealthreport → - [2]
- [3]
Savills
Asia Pacific Investment Quarterly & Thailand Spotlight · 2024
https://www.savills.com/research/ → - [4]
JLL Hotels & Hospitality
Hotel Investment Outlook. Asia Pacific (Annual) · 2024
https://www.jll.com/en/insights/research → - [5]
International Monetary Fund (IMF)
World Economic Outlook · 2024
https://www.imf.org/en/Publications/WEO →
Sources last reviewed 2026-06-14
Recommended Action
Your next step, by investor profile.
Cross-border allocator
Score your shortlist against the five-test index before allocating to any single resort market.
Yield-focused investor
Anchor on Phuket and Bali; benchmark Phuket's freehold yield against Bali's leasehold yield net of renewal risk.
Family office
Request a confidential four-market resort allocation briefing mapped to your global property exposure.
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Direct Access
Speak with Frank about phuket vs bali vs dubai vs portugal price index.
Request a confidential four-market resort allocation briefing — Phuket, Bali, Dubai and Portugal's Algarve scored against your investor mandate, ticket size and holding period.
- Frank Satar
- Chief Founder & Research Director
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