Thailand Property ROI 2026: Real Market Data (Phuket & Koh Samui)

1) First, the Definitions: Gross vs Net (Where the Truth Usually Gets Lost)

ROI / Rental yield in practice comes in two versions:

1. Gross yield
   Annual rental income / purchase price.
   This is the result "before" costs.
2. Net yield
   (Annual rental income, all operating costs) / purchase price.
   This is the result that actually matters to investors.

In Thailand, the difference between gross and net can be substantial, because in STR (short-term rentals), operating costs and commissions are genuinely high (management + OTA fees + cleaning + utilities + service).

2) Data Sources Behind Our Numbers (Phuket & Koh Samui)

To ensure ROI isn't just guesswork, we use two types of data:

A) STR Data (Airbnb/Vrbo): Occupancy and ADR

• Phuket (STR): AirDNA shows an average of approximately 57% occupancy and $190 ADR (average daily rate) in market-wide terms.
• Alternatively, Airbtics for Phuket reports approximately 65% occupancy, ADR around 3,001 THB, and average annual revenue of about 696,000 THB (for typical STR units in their sample).

Important: Different platforms calculate "averages" differently (sample size, property type, filtering method), so treat these as ranges and reference points, not guarantees.

B) Purchase Price Data (For Sensible Yield Calculations)

• Phuket, median condo price: 144,000 THB/m²
• Koh Samui, median condo price: 88,500 THB/m²

This gives us a baseline for calculating "how much revenue is needed for X yield".

3) Short-Term Rentals (STR) 2026: Phuket vs Koh Samui

3.1 Phuket STR, The "Typical" Market Picture

At the overall Phuket STR market level, we see approximately:

• occupancy around 57% and ADR around $190 (AirDNA)
  or in other representations:
• occupancy around 65% and ADR around 3,001 THB (Airbtics)

What does this mean practically in 2026?
Phuket is a large, competitive market, but one that "operates year-round" (clear seasonality, yet demand persists outside high season). At the same time, supply pressure is increasing in the small unit segment, so the winning product is in good micro-markets (Bang Tao/Cherngtalay, Rawai, etc.) and well-managed operationally.

3.2 Koh Samui STR, Higher Daily Rates, Different Demand Profile

In Ko Samui, AirROI shows:

• $336 ADR and 47% occupancy

This is characteristic of Samui: often higher ADR (especially in villas and larger configurations), but with greater sensitivity to seasonality and "demand windows". Additionally, Samui's market structure is strongly "villa-led" (high proportion of houses/villas managed by operators), which is also reflected in the island's villa supply data.

4) Long-Term Rentals (LTR) 2026: Stability vs Maximization

4.1 Phuket LTR, Market Data and What It Reveals

As a concrete benchmark from the listing market ("listing" data, but at large scale):

• Thailand-Property shows for Phuket median condo rent ~45,816 THB/month and gross rental yield on condos ~9.1% (their indicator is based on listing medians).

This is important because it demonstrates that Phuket has genuine demand for long-term stays, particularly in segments: expats, families, remote workers, "long-stay lifestyle".

4.2 Koh Samui LTR, Often Works, But Differently Than Phuket

In Samui, LTR is strong, but in practice:

• in villas and houses, you often encounter 6-12 month contracts with different cost structures (garden/pool service, higher bills, greater maintenance responsibility),
• and some owners employ a mixed model: high season in STR, off-season in LTR or "mid-term".

Sample long-term rental levels for houses/villas in Samui (listings) can start from approximately ~85,000 THB/month for 3BR (specific listings).

5) Operating Costs 2026: What Actually "Eats" Your ROI

Below is the most important section, because this determines whether your result is 4-6% net or 8-10% net.

5.1 STR Management (Phuket/Samui): Standard Commissions

In STR, the typical model is a commission on revenue.

• For Phuket, the market commonly sees 20-30% of revenue as STR management fees (depending on service scope).

Samui is similar (depending on operator), and with villas, additional fixed service costs apply.

5.2 Platform Commissions (OTA) and Sales Costs

• Airbnb/Vrbo charge service fees (for host and/or guest). This varies by model, but practically means if you don't have strong direct bookings, OTAs "take" part of the margin.

5.3 Condo Maintenance Costs: Common Area Fees (CAM/Common Fees)

In Phuket, typical common area fee ranges (common areas, pool, security, administration) are usually:

• 40-80 THB/m²/month (often averaging around ~50 THB/m²/month in many projects)

This is a cost you pay regardless of occupancy.

5.4 Utilities and Service (STR)

In STR, you typically have:

• electricity and water (often owner's responsibility, depends on agreement),
• internet/TV,
• cleaning after stays,
• laundry/linens,
• equipment replacement,
• minor repairs.

In villas, add:

• pool and garden service,
• humidity/mold prevention,
• more frequent air conditioning maintenance.

5.5 Taxes and Local Fees (General)

In Thailand, Land and Building Tax applies with thresholds and rates depending on property use; for "other residential properties" (e.g., rented / second homes), rates can range from 0.02-0.30% (depending on value and classification).

Practical note: Tax settlements and classifications may vary depending on the owner's situation, this is an element worth calculating with an accountant.

6) Two ROI Models in 2026: Simple Calculations with Examples

Below are model calculations (realistic, but still illustrative) to see how the economics work.

Example A: Phuket Condo ~50 m² (STR)

1. Purchase price (benchmark):
   Median Phuket condo: 144,000 THB/m² → 50 m² ≈ 7.2 million THB
2. STR revenue (market benchmark):
   Airbtics: average annual revenue ≈ 696,000 THB (typical STR in sample)
3. Costs (conservative example):

• STR management: 25% of revenue (middle of 20-30% range)
• common area fees: 50 THB/m²/month → 50 m² = 2,500 THB/month ≈ 30,000 THB/year
• utilities/service/cleaning/repairs: depending on intensity; let's assume 10-15% of revenue as variable cost package (this can be less or more)

Conclusion: gross yield may look attractive, but net yield will depend on whether you have a good operator, strong ADR, and well-managed variable costs.

Example B: Koh Samui 3BR Villa (Mixed STR + LTR Model)

1. The Samui market has a large pool of villas managed by operators (market structure).
2. LTR benchmark from listings: 3BR can be around 85,000 THB/month and up, depending on standard and location.

In Samui, a sensible model is often:

• high season: STR (high ADR)
• low season: mid-term / LTR (occupancy stabilization)

This reduces "empty months" but lowers maximum peak season rates.

7) What's "Better" in 2026: STR or LTR?

Phuket

• STR can deliver higher gross revenue but requires strong operations and has higher commission costs.
• LTR tends to be more stable, and rental median data from the listing market suggests that long-term, Phuket has genuine rental demand.

Koh Samui

• STR often has excellent daily rates, but occupancy and seasonality can significantly swing results.
• Mixed model (STR + mid-term/LTR) is often more operationally practical.

8) Key Operational Insights (What Actually Drives ROI)

1. Location + product trump "paper yield".
2. In STR, the deciding factors are typically: ADR, occupancy, and management costs.
3. In condos, common area fees are very important (because they're fixed).
4. In villas, the key factors are: pool/garden service + maintenance (often larger and more frequent than condos).
5. Net ROI is a result of management, not just "the market".

Thailand Property Investment Returns 2026

ROI, Real Examples (Phuket & Koh Samui)

In the analysis below, we adopt conservative and realistic assumptions:

• occupancy and ADR data from STR platforms (AirDNA / AirROI / Airbtics),
• typical operating costs,
• management company commissions,
• averaged utility rates, CAM, and maintenance.

1) Phuket, Condo (50 m²) for Short-Term Rental (STR)

Assumptions

• Purchase price: 7.2 million THB (144,000 THB/m² × 50 m²)
• ADR: 3,000 THB / night (approx. $85)
• Occupancy: 60% annually
• Days: 365
• STR management commission: 25% of revenue
• Common area fees (CAM): 50 THB/m²/month → ~ 30,000 THB/year
• Other costs (utilities, cleaning, maintenance): 15% of revenue

Calculations

Operating costs
• STR management 25%: ~ 164,250 THB
• Utilities / cleaning / maintenance ~ 98,550 THB (15%)
• CAM: ~ 30,000 THB
Total costs: ~ 292,800 THB

Net profit
657,000-292,800 ≈ 364,200 THB / year

Net ROI
364,200 / 7,200,000 ≈ 5.06% net annually

Example return in USD:
364,200 THB × 0.0286 ≈ approx. $10,416 / year

Note: if you increase occupancy to 65% and/or ADR to 3,200-3,400 THB, realistic net can approach 5.5-6.0%.

2) Phuket, 3-Bedroom Villa (STR)

Assumptions

• Purchase price: 22 million THB (e.g., 350 m² villa × approx. 63,000 THB/m² / landed market)
• ADR: 7,500 THB / night
• Occupancy: 50% (lower than condo, as larger and more expensive to maintain)
• STR management commission: 25%
• Utilities / maintenance: 20% of revenue (higher than condo)
• Pool, garden service, etc.: ~ 80,000 THB/year
• CAM / common fees: ~ none (villas typically don't have CAM, but have service costs)

Calculations

Operating costs
• STR management (25%): ~ 342,188 THB
• Utilities and maintenance (20%): ~ 273,750 THB
• Service (pool, garden, etc.): 80,000 THB
Total costs: ~ 695,938 THB

Net profit
1,368,750-695,938 ≈ 672,812 THB

Net ROI
672,812 / 22,000,000 ≈ 3.06% net annually

In USD:
672,812 × 0.0286 ≈ approx. $19,242 / year

Note: this is a cautious example; if you rent the VILLA in a hybrid model (e.g., STR in season, LTR off-season), net profit can rise closer to 4.0-4.5% (in practice, depends on demand and pool occupancy outside season).

3) Koh Samui, Condo (60 m²) for STR

Assumptions

• Purchase price: 5.31 million THB (88,500 THB/m² × 60 m²)
• ADR: 4,000 THB / night
• Occupancy: 50%
• STR management: 25%
• Utilities / cleaning / maintenance: 15%
• CAM: 30,000 THB/year

Calculations

Operating costs
• STR management (25%): ~ 182,500 THB
• Utilities / maintenance (15%): ~ 109,500 THB
• CAM: 30,000 THB
Total costs: ~ 322,000 THB

Net profit
730,000-322,000 ≈ 408,000 THB

Net ROI
408,000 / 5,310,000 ≈ 7.68% net annually

In USD:
408,000 × 0.0286 ≈ approx. $11,669 / year

Note: in Samui condos, ROI often looks best in STR, but requires good location and management, because occupancy in Samui is lower than Phuket (generally more seasonal).

4) Koh Samui, 3BR Villa (STR + Seasonal LTR)

Assumptions (Mixed Model)

• Purchase price: 15 million THB
• STR summer season: ADR 8,000 THB, occupancy 55% (number of STR nights in season)
• LTR off-season: rate approx. 80,000 THB/month
• Combined STR + LTR occupancy: 75% evenly throughout year
• STR management: 25% (only for that revenue portion)
• Utilities / maintenance: 18% (higher than condo)
• Pool / garden service: 80,000 THB/year

Calculations (Split)

After STR costs (25% management + 18% utilities/maintenance):
STR net ≈ 1,606,000, (401,500 + 289,080) ≈ 915,420 THB

LTR costs (maintenance) ~ 15%
LTR net ≈ 720,000-108,000 ≈ 612,000 THB

Total net
915,420 + 612,000, pool/garden service 80,000 ≈ 1,447,420 THB

Net ROI
1,447,420 / 15,000,000 ≈ 9.65% net annually

In USD:
1,447,420 × 0.0286 ≈ approx. $41,396 / year

Note: this is just an example of a mixed model, but it shows that hybrid STR + mid-term/LTR models can significantly boost ROI, especially in seasonal destination locations (Samui).

Summary: How Much Can You Earn in 2026

Key Operational Conclusions

Sources

• AirDNA, Phuket STR overview (occupancy, ADR, revenue benchmark).
• Airbtics, Phuket STR revenue/occupancy/ADR (latest updates December 2025).
• AirROI, Ko Samui STR market analysis 2025 (occupancy, ADR, revenue).
• C9 Hotelworks, Phuket Property Market Update (median condo price).
• C9 Hotelworks, Samui Property Market Update (villa market context, supply structure).
• Thailand-Property, Phuket market insight: median rent and gross rental yield (LTR benchmark).
• Common fees Phuket (CAM/common area fee ranges).
• STR management Phuket: typical range 20-30% of revenue.
• Land and Building Tax, rate and threshold descriptions (informational sources).