Rental Yields in Phuket 2026: What Condos and Villas Actually Earn

By Marcus Chen

Every property in Phuket comes with a yield figure. The developer's brochure says 8–10%. The agent says 6–8%. The honest answer depends on what is being measured, and most marketed figures measure gross yield with optimistic occupancy assumptions.

This is what the numbers actually look like in 2026 when you run them honestly.

The Gross vs Net Problem

Gross rental yield is the number that appears in marketing. Net rental yield is the number that determines whether a purchase makes financial sense. The gap between them in Phuket is significant.

For a managed condominium in the Bang Tao corridor running at 75% occupancy:

Gross yield calculation:

• —Unit price: THB 8,000,000
• —Annual rental income at 75% occupancy (12 months × average THB 3,500/night × 0.75): approximately THB 700,000
• —Gross yield: 8.75%

Net yield after standard deductions:

• —Management fee (25% of gross income): THB 175,000
• —Maintenance reserve (1% of purchase price): THB 80,000
• —Insurance: THB 15,000
• —Property tax: THB 10,000
• —Vacancy allowance (5%): THB 35,000
• —Net annual income: approximately THB 385,000
• —Net yield: 4.8%

That is not 8.75%. The difference is management fees, maintenance, tax, and realistic vacancy — all of which are real costs that disappear from developer yield projections.

Hawook presents yields as ranges with inputs visible. If a developer shows you a yield figure without showing you the calculation, ask to see it.

What Different Property Types Actually Return

Condominiums: Managed Pool Programmes

Well-managed condominiums in established rental programmes in the Bang Tao and Laguna corridor generate:

• —Gross: 6.5–8.5% at typical occupancy
• —Net: 3.8–5.2% after management fees (15–25% of gross), maintenance reserves, tax, and insurance

The variance within that range comes from operator quality, unit size, and location within the corridor. A 30-square-metre studio in a pool-sharing programme earns less per night than a 65-square-metre one-bedroom with direct pool access. Management quality varies — some operators in Phuket have occupancy fill rates of 80%+; others are consistently below 60%.

Villas: Short-Term Rental

Villas operated as STR (short-term rental) in the north-west corridor generate:

• —Gross: 7.0–9.0% on a well-priced asset with direct STR operation
• —Net: 5.0–6.5% after management (typically 20–30% of revenue for full service), maintenance, utilities, pool cleaning, and tax

The STR villa calculation depends heavily on pricing strategy and seasonality. Phuket's high season (November–April) accounts for 60–65% of villa revenue in a typical year. An operator who maximises peak-season rates and fills shoulder season aggressively can push yields toward the top of that range. A passively managed villa will sit in the middle or below it.

Branded Residences

Branded residences — Anantara, Banyan Tree, Trisara affiliates — represent a separate category. Entry prices typically start at THB 15 million and run significantly higher. The brand's hotel management infrastructure handles everything.

Returns from branded residences:

• —Gross: 5.0–7.0% (slightly lower than comparable unbranded product due to higher purchase price)
• —Net: 3.5–5.0% after the brand management fee (typically 30–40% of gross, higher than standard operators)

The trade-off for the lower net yield: the brand's global reservation system driving occupancy, standardised fit-out that maintains rental rates, and demonstrably stronger secondary market demand when you sell. Branded residences in Phuket sell faster and at smaller discounts than comparable unbranded product. If you expect to hold for five to seven years and value exit liquidity, the yield compression may be worth it. If you are yield-maximising, unbranded with a strong local operator is the better position.

The Areas: Where Yields Are Highest

Bang Tao and Laguna corridor: 6–8% net for well-managed condominiums. Highest demand, strongest operators, best occupancy rates in Phuket. The benchmark location.

Kamala: 5.5–7.5% net. Quieter, fewer large developments, stronger appeal to longer-stay visitors who produce more consistent monthly returns. Less peak-season volatility.

Rawai and Nai Harn: 4.5–6.5% net. Lower entry prices, but lower daily rates. The south end attracts longer-stay resident renters rather than tourist short-term tenants — different occupancy model, typically lower per-night rate, higher occupancy consistency. Yields in this area depend significantly on whether you are running STR or longer-term lets.

Phuket Town: 4.0–6.0% net. Growing digital nomad and long-stay market. Lower STR rates than the beach corridors; monthly lets work better here than nightly. Yields are improving as the area attracts more long-stay tenants.

What to Verify Before You Buy

The management operator: ask for verified occupancy data from comparable units in their programme, not projections. Ask who their channel managers are. Ask what happens if they underperform.

The management fee structure: flat percentage or tiered? Includes utilities or excludes? What is the maintenance reserve rate?

The legal STR status: not all Phuket condominiums can legally operate as short-term rentals. Hotel-licensed projects can. Residentially-zoned units that operate as STR are in a grey area — enforcement has been inconsistent, but risk has risen in 2026. Confirm the project's STR licensing before purchasing for yield.

Realistic occupancy, not optimistic occupancy: stress-test at 65% annual occupancy. If the yield still makes sense at 65%, it likely works.

All yield figures are Hawook estimates based on aggregated data. Actual returns depend on management operator, unit condition, market conditions, and owner decisions. These figures are not a guarantee and should not be treated as such.