Patong has a wide range of condos and apartments and is home to some of the longest established developments on the island. There are a range of prices available; condos and apartments over 10 years old are generally priced at under 100,000 THB per sqm and new or more recently completed condos and apartments are priced at around 150,000 THB per sqm.
As Phuket’s most popular resort, rental demand is very strong which means that pretty much any condo has decent rental returns. As we know, successful property investment is often about location, location, location and the vast majority of condos and apartments in Patong are within walking distance to the key facilities. These include the beach, Bangla Road, the Junceylon shopping and dining complex, as well as any number of local restaurants, bars and shops.
Investors generally view a property purchase in Patong as either a pure investment for rental returns or a hybrid investment – i.e. a holiday home property in which they prefer to spend shorter periods in their property and rent it out the rest of the time.
Older condos and apartments generally do not have a hotel management set up in place, so it would be necessary for owners to manage the rentals themselves through Airbnb or similar sites. A satisfying 10% rental returns are achievable with the correct set up in place. Condos that do have a hotel management set up in place, offer hassle free passive returns.