The REIC reported 5,455 condo units remaining for sale from 19,710 total units at the end of last year, the largest of any destination.
Mr Thanusak said a new trend in the Phuket condo market was some projects now offered a guaranteed return to buyers for five to seven years from developers that rent out units to tourists.
Despite a tourism recovery in the province, average spending per head remains lower than in past years when Europeans dominated tourist arrivals, he said.