Saint Tropez Naithon, Phuket rental yield: modelled on real rents
In briefA Saint Tropez Naithon studio returns 5–7.6% net when let — modelled on rents in neighbouring beach-side buildings, with seasonality and every cost included. You can let it monthly or to holidaymakers, yourself or through a management company.
- Fixed costs are known: maintenance at ฿60/m² a month — ฿22 046 a year for a 30.62 m² studio.
- Entry is ฿3 613 160 for a studio with every fee and the furniture package — ฿118 000/m² all-in; the freehold unit without furniture is ฿110 000/m², against a Phuket median of ฿144 000/m².
- High season runs November to April, with hotel occupancy up to 91.8% in January; the yield is modelled over the full year, monsoon included.
- Daily letting in Thailand needs a hotel licence; monthly letting does not.
- Income starts at handover, Q3–Q4 2028.
Updated: · details below
What neighbouring beach-side buildings ask
The benchmark for Nai Thon is beach-side buildings in the quiet bays of the north-west: Layan, Bang Tao and Nai Thon itself. Here is what they ask today.
For purchase price: ฿144 000/m² is the Phuket-wide median, ฿139 000 the primary market and ฿181 000 branded projects (C9 Hotelworks, Phuket Property Market Update, May 2025, as of 30 April 2025). The closest comparable project is Sea Heaven Phuket Naithon in this same bay: ฿137 000/m², freehold, 100 m from the water, a 7% for five years guarantee, phase 2.1 sold out. Our entry on the same basis — freehold, no furniture — is ฿110 000/m², which is 20% below the neighbour's square metre. On the full entry cost including the furniture package (฿118 000/m²) it is 14% lower.
| Building | Bedrooms | Size | Monthly rent | Per m² |
|---|---|---|---|---|
| Bellevue Beachfront Condo | 1 bed | 35 m² | ฿35 000 | ฿1 000 |
| Laya Resort Phuket | 1 bed | 35 m² | ฿33 000 | ฿943 |
| Sunshine Beach Residences | 1 bed | 35 m² | ฿45 000 | ฿1 286 |
| Kora Beach Resort Phuket | 1 bed | 46 m² | ฿55 000 | ฿1 196 |
| Kora Beach Resort Phuket | 1 bed | 56.72 m² | ฿90 000 | ฿1 587 |
| Kora Beach Resort Phuket | 2 beds | 60.06 m² | ฿80 000 | ฿1 332 |
| Kora Beach Resort Phuket | 2 beds | 66 m² | ฿65 000 | ฿985 |
| Ocean Breeze Resort & Suites | 2 beds | 117 m² | ฿60 000 | ฿513 |
Source: Thailand-Property, rentals in Layan, 15 August 2026. The Nai Thon base rate is ฿26 000 a month for a 30.62 m² studio: the one-bedroom median (฿1 196 per m²) with a 28% margin for the quieter bay.
Seasonality: why you cannot annualise January
Phuket runs on two half-years. From November to April it is dry and island hotel occupancy reaches 91.8% in January. From May to October the south-west monsoon blows and the same measure falls to 66.9% in June. The annual average is 79.5% against 79.1% a year earlier, at an average nightly rate of ฿5 652 (+7.8% year on year).
Monthly arrivals to Thailand in 2025, millions. Source: Ministry of Tourism and Sports of Thailand, 2025 summary, checked 15 August 2026. Phuket's own curve is steeper than the national one — the south-west monsoon hits the island harder than the country average.
| Period | Months | Length | Phuket hotel occupancy | Rate |
|---|---|---|---|---|
| High season | November – April | 6 months | 81%–91.8% | peak |
| Shoulder | July – August | 2 months | around 75% | mid |
| Monsoon trough | May, June, September | 3 months | from 66.9% | lowest |
On this bay specifically. In the C9 Hotelworks, Phuket Hotel & Tourism Market Update, March 2026 report the Nai Yang – Nai Thon cluster has its own line: over 2025 vs 2024 occupancy fell by 1% and the average rate by 2%. The island as a whole lost 6% of occupancy in the same period — six times as much: a quiet bay holds demand more steadily than the island. Phuket airport handled 8.8 million passengers in 2025, with average visitor spend of ฿46 857 per trip.
The practical consequence. Under nightly letting, roughly six months out of twelve produce the year's income. Annualising a high-season rate overstates the return by nearly half. Every figure on this page is modelled across the full year.
Two letting strategies — and why the net is similar
The same 30.62 m² studio can be let two ways. The gross figures differ noticeably; the net figures barely do. Both calculations below use the same entry cost of ฿3 613 160 and the same ฿22 046 annual maintenance.
Monthly, to a long-stay tenant
- Rate
- ฿26 000 a month
- Occupancy
- 10–11 months a year
- Commission
- 5–10% to the manager
- Licence
- not required
- Annual income
- ฿286 000
- Net on entry cost
- 6.7%
Predictable and almost hands-off. The rate is lower, but there are no voids between guests and no cleaning or linen costs.
Nightly, to holidaymakers
- Rate
- ฿3 200 high season, ฿1 700 low
- Occupancy
- 62% and 38% by half-year
- Costs on revenue
- about 45%: platform, management, cleaning
- Licence
- hotel licence required
- Annual income
- ฿473 400
- Net on entry cost
- 6.6%
Higher revenue, similar net: platforms, management and cleaning take about a third. Nightly letting requires a hotel licence.
Nightly rates are the midpoints of ranges for comparable beach-side units: ฿1,500–3,500 in high season and ฿800–1,800 in low. The 45% cost load covers the platform fee, the manager, cleaning and linen.
Studio of 30.62 m²: three scenarios
Entry: ฿3 215 100 price + ฿153 100 freehold fee + ฿244 960 furniture package = ฿3 613 160. Running costs: ฿22 046 a year of maintenance plus a 20% management commission on rental income.
| Scenario | Monthly rent | Annual income | Gross | Net |
|---|---|---|---|---|
| Conservative | ฿21 000 | ฿252 000 | 7% | 5% |
| Base | ฿26 000 | ฿312 000 | 8.6% | 6.3% |
| Optimistic | ฿31 000 | ฿372 000 | 10.3% | 7.6% |
Two-bedroom of 67.5 m² (C1): three scenarios
Entry: ฿8 437 500 + ฿337 500 freehold + ฿540 000 furniture = ฿9 315 000. Maintenance ฿48 600 a year. Rents derive from comparable Layan two-bedrooms (฿60 000–฿80 000), adjusted for Nai Thon.
| Scenario | Monthly rent | Annual income | Gross | Net |
|---|---|---|---|---|
| Conservative | ฿38 000 | ฿456 000 | 4.9% | 3.4% |
| Base | ฿48 000 | ฿576 000 | 6.2% | 4.4% |
| Optimistic | ฿58 000 | ฿696 000 | 7.5% | 5.5% |
What this means. A realistic corridor for a studio is 7–10.3% gross and 5–7.6% net; for a two-bedroom, 3.4–5.5% net. The smaller unit returns the higher percentage: rent does not scale with floor area while the purchase price nearly does. That is exactly why investors buy studios and owner-occupiers buy two-bedrooms.
Net yield here is after maintenance and the management commission, but before income tax, repairs and void periods.
How to pick a unit for letting
- Size. A 30.62 m² studio at ฿3 215 100 and a 67.5 m² two-bedroom at ฿7 357 500 do not rent in proportion to their area — smaller units usually return a higher percentage.
- Floor. A square metre on the top floor costs 24% more than on level 1 (฿130 000 vs ฿105 000), while rents do not differ nearly as much. For letting, lower floors tend to win.
- Aspect. The partial sea-view units — 508 and 509 — have already left sale. What remains looks onto the garden, pool and hills.
- When the tenant arrives. Long leases in Nai Thon are signed in autumn, ahead of the high season. A unit that becomes lettable in May waits longer for a tenant.
What to factor in
- There is no guaranteed yield — and you do not overpay for one in the price: Sea Heaven Phuket Naithon next door, with its 7% for five years guarantee, sells at ฿137 000 per m²; here it is ฿110 000.
- Rents in the model are 2026 asking prices; the market may move by handover in Q3–Q4 2028.
- A private apartment fills less than a hotel: the model uses 62% and 38% by half-year, not the hotels' 79.5%.
- You choose the management company; commission runs 5–30% depending on the letting format.
- Income starts at handover, Q3–Q4 2028.
A sample of real rents in comparable buildings
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