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Thailand's Airbnb condo market remains profitable for investors, with gross yields ranging from 6-10% across Bangkok, Phuket, and Chiang Mai as of September 2025.
However, increasing competition, regulatory uncertainties, and seasonal fluctuations significantly impact net returns, making careful property selection and legal compliance essential for success.
If you want to go deeper, you can check our pack of documents related to the real estate market in Thailand, based on reliable facts and data, not opinions or rumors.
Thailand's Airbnb condo market offers decent returns but faces growing challenges with legal restrictions and increased competition.
Net yields after costs typically range from 4-7%, with studios and 1-bedroom units performing best in tourist-heavy areas.
| City | Avg Condo Price/sqm | Airbnb Nightly Rate | Occupancy Rate | Gross Yield | Net Yield |
|---|---|---|---|---|---|
| Bangkok | THB 150,000 | $43 (THB 1,704) | 67% | 7-9% | 4-6% |
| Phuket | THB 95,000 | $78 (THB 2,890) | 67% | 8-10% | 5-7% |
| Chiang Mai | THB 76,751 | $40 (THB 1,482) | 66% | 6-8% | 4-6% |
| High Season Impact | - | +15-20% | Up to 68% | +30-40% | +25-35% |
| Low Season Impact | - | -10-20% | Down to 35% | -40-50% | -45-55% |
| Monthly Costs | THB 35-55/sqm | Management 20-35% | Utilities THB 2,500-4,500 | Tax 15-35% | Total 18-40% |
| Best Unit Types | Studio/1BR | Higher turnover | 65-70% | 8-12% | 5-8% |
Fact-checked and reviewed by our local expert
Attaya Suriyawonghae 🇹🇭
Real Estate Broker, Zest Real Estate
How much do condos in Thailand currently cost in the main tourist cities like Bangkok, Phuket, and Chiang Mai?
Condo prices in Thailand's three main tourist destinations show significant variation as of September 2025.
Bangkok leads with the highest prices at an average of THB 150,000 per square meter citywide. Premium areas like Sukhumvit and Thonglor command THB 200,000-300,000+ per square meter. A typical studio apartment costs around THB 2.6 million, while 1-bedroom units average THB 4.5 million and 2-bedroom condos reach THB 11 million.
Phuket offers more affordable options with an average city condo price of THB 95,000 per square meter. Beachfront properties cost around THB 130,000 per square meter, while sea-view projects range from THB 150,000-180,000 per square meter.
Chiang Mai remains the most budget-friendly option with studios averaging THB 70,000 per square meter and 2-bedroom units at THB 86,000 per square meter. The overall median price sits at THB 76,751 per square meter.
All three cities experienced moderate annual growth throughout 2025, making them attractive for both investment and personal use.
What is the average nightly rate for Airbnb condos in those same areas right now?
Airbnb nightly rates vary considerably across Thailand's major tourist cities as of September 2025.
Phuket commands the highest rates at $78 USD (approximately THB 2,890) per night, reflecting its status as Thailand's premier beach destination. The island's popularity with international tourists allows property owners to charge premium rates year-round.
Bangkok follows at $43 USD (THB 1,704) per night, benefiting from consistent business and leisure travel demand. The capital's diverse attractions and central location maintain steady pricing throughout most of the year.
Chiang Mai offers the most affordable rates at $40 USD (THB 1,482) per night, though this lower price point is offset by strong cultural tourism and digital nomad appeal.
These rates represent baseline averages and can increase by 15-20% during peak season (December-February) or drop by 10-20% during low season (May-September).
How high is the average occupancy rate for Airbnb condos in Bangkok, Phuket, and Chiang Mai over the past year?
Occupancy rates across Thailand's main tourist cities remain remarkably consistent at around 66-67% annually.
Bangkok maintains a 67% annual median occupancy rate, supported by year-round business travel and urban tourism. The capital's diverse appeal helps maintain steady bookings across different seasons.
Phuket also achieves 67% annual occupancy despite seasonal fluctuations, with strong international tourism offsetting quieter periods. The island's beach appeal drives consistent demand from various tourist segments.
Chiang Mai records 66% annual occupancy, slightly lower but still competitive. The city's cultural attractions and growing digital nomad community provide reliable booking patterns.
These occupancy rates translate to approximately 240-245 booked nights per year, leaving 120-125 nights available for personal use or maintenance periods.
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What are the main seasonal fluctuations in Airbnb demand in Thailand, and how much do they affect monthly income?
| Season | Months | Occupancy Rate | Rate Premium | Income Impact |
|---|---|---|---|---|
| High Season | December-February | 56-68% | +15-20% | +30-40% |
| Shoulder Season | March-April, October-November | 60-65% | Baseline | Baseline |
| Low Season | May-September | 35-40% | -10-20% | -40-50% |
| Bangkok Peak | December-January | Up to 68% | $77-80/night | THB 1,320/month |
| Bangkok Low | May-July | Down to 34% | $35-40/night | THB 676/month |
| Phuket High | December-February | Up to 65% | $85-87/night | +35-45% |
| Chiang Mai Peak | December-January | Up to 60% | $43/night | +25-35% |
How strict are the current Thai laws and building rules around short-term rentals in condos, and are there active crackdowns?
Thai law officially restricts short-term condo rentals under 30 days unless the property is registered as a hotel, creating significant legal challenges for Airbnb operators.
Enforcement varies significantly by location and building type, with stronger crackdowns occurring in Bangkok and Phuket tourist hotspots. Luxury and newer buildings face more scrutiny, while older developments may have inconsistent enforcement.
Many condo buildings now explicitly prohibit short-term rentals in their bylaws, reducing the number of legally compliant properties available for Airbnb operations. Building management committees are increasingly active in identifying and restricting unauthorized short-term rentals.
Active enforcement includes surprise inspections, hefty fines, and legal action against violators. Some buildings install key card systems that track guest movements, making unauthorized short-term rentals easier to detect.
Despite these restrictions, thousands of listings continue operating across all three cities, though legal risk remains a significant consideration for investors.
Which condo buildings in Thailand still officially allow short-term rentals, and how many units in them are competing on Airbnb?
Buildings that officially permit short-term rentals are increasingly rare and often market this permission as a premium selling point.
Bangkok currently hosts 16,806 active Airbnb listings, though only a minority operate in buildings with explicit short-term rental permission. Most successful operators focus on condo-hotel properties or mixed-use developments with hospitality components.
Phuket maintains 12,675 active listings, with resort-style condos and beachfront developments more likely to permit short-term rentals. Many of these properties were originally designed with tourism in mind.
Chiang Mai supports 7,482 active listings, often in older buildings where enforcement remains inconsistent or in purpose-built serviced apartment complexes.
Competition intensity varies by building, but properties in tourist-friendly developments typically face 20-50 competing units within the same complex, directly impacting occupancy rates and pricing power.
What are the monthly running costs of owning a condo in Thailand, including management fees, utilities, cleaning, and Airbnb commission?
Monthly operating costs for Airbnb condos in Thailand typically consume 40-60% of gross rental income.
Management fees range from THB 35-55 per square meter per month, varying by building quality and included services. A 50-square meter condo pays approximately THB 1,750-2,750 monthly in management fees.
Utilities cost THB 2,500-4,500 per month depending on unit size, air conditioning usage, and guest behavior. High-occupancy units with frequent air conditioning use lean toward the higher end of this range.
Cleaning services charge THB 600-1,200 per guest turnover, with frequent bookings significantly increasing monthly cleaning expenses. Professional cleaning is essential for maintaining positive reviews and high occupancy rates.
Airbnb commission takes 3% of each booking, plus additional payment processing fees. Internet and cable services add THB 500-1,200 monthly for reliable connectivity that guests expect.
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How much does property management for Airbnb in Thailand cost if you don't live there full-time?
Professional Airbnb management in Thailand typically costs 20-35% of gross rental income for full-service packages.
Full-service management includes guest communication, check-in/check-out coordination, cleaning arrangements, maintenance oversight, and listing optimization. Premium providers offer 24/7 guest support and emergency response services.
Alternative pricing structures include flat monthly rates ranging from THB 3,000-10,000 per unit plus booking commissions. This model works better for consistently high-occupancy properties where percentage-based fees become expensive.
Some management companies offer tiered services, allowing owners to select specific functions like cleaning coordination (5-10% commission) or full marketing and guest relations (25-35% commission).
Remote owners should budget additional costs for emergency repairs, key replacement, and periodic property inspections that management companies typically charge separately from their base fees.
What are the expected gross and net yields for Airbnb condos compared to long-term rental condos in Thailand?
| City | Airbnb Gross Yield | Long-term Gross Yield | Airbnb Net Yield | Long-term Net Yield | Yield Premium |
|---|---|---|---|---|---|
| Bangkok | 7-9% | 3-5% | 4-6% | 2-4% | +2-4% |
| Phuket | 8-10% | 4-6% | 5-7% | 3-5% | +2-4% |
| Chiang Mai | 6-8% | 3-5% | 4-6% | 2-4% | +2-3% |
| High-end Properties | 6-8% | 2-4% | 3-5% | 1-3% | +2-3% |
| Budget Properties | 8-12% | 4-6% | 5-8% | 3-5% | +2-4% |
| Prime Locations | 7-9% | 3-5% | 4-6% | 2-4% | +2-3% |
| Secondary Areas | 9-11% | 4-6% | 6-8% | 3-5% | +3-4% |
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Thailand versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
How has the number of Airbnb listings in Thailand changed over the last 3 years, and what does that mean for competition?
Airbnb listings in Thailand have grown substantially over the past three years, creating increasingly competitive market conditions.
Bangkok and Phuket experienced 10-30% growth in active listings between 2022-2025, driven by recovering tourism and investor interest in short-term rental income. This growth significantly outpaced tourism recovery rates, creating supply-demand imbalances.
Chiang Mai showed more moderate but steady growth, with digital nomad influx supporting consistent demand despite increasing supply. The city's cultural appeal maintains booking stability even as competition intensifies.
Rising supply particularly impacts studio and 1-bedroom units targeting budget-conscious tourists and business travelers. These segments face the highest competition levels, forcing operators to compete aggressively on pricing and amenities.
Increased competition means successful properties must differentiate through superior locations, unique amenities, professional photography, dynamic pricing strategies, and exceptional guest service to maintain occupancy rates and pricing power.
What types of condos (studio, 1-bedroom, 2-bedroom) are performing best for Airbnb income in Thailand right now?
Studio and 1-bedroom condos consistently deliver the highest return on investment for Airbnb operators in Thailand's major tourist cities.
Studios offer the best occupancy rates at 65-70% annually due to their affordability and appeal to solo travelers, couples, and business visitors. Their lower purchase prices create higher yield percentages, though absolute income remains limited.
1-bedroom units strike the optimal balance between investment cost and rental income, attracting higher nightly rates while maintaining strong occupancy. They appeal to couples seeking more space and business travelers requiring work areas.
2-bedroom condos generate higher absolute revenue during peak seasons from families and groups but experience lower year-round occupancy rates. Their higher purchase prices often result in lower overall yields despite premium nightly rates.
Larger units (3+ bedrooms) perform poorly in most Thai markets due to limited demand, extended vacancy periods, and proportionally higher operating costs that reduce net returns.
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What taxes or fees does a foreign owner pay on Airbnb rental income in Thailand, and how do they impact overall profit?
Foreign owners face a complex tax structure that can consume 18-40% of net Airbnb income depending on revenue levels and structuring strategies.
Income tax applies at progressive rates from 15-35% based on net profit after allowable expenses including management fees, utilities, repairs, and depreciation. Higher-earning properties face the maximum 35% rate on income exceeding THB 5 million annually.
Withholding tax of 3-15% applies when rental income is remitted overseas, though this can often be offset against income tax obligations through proper tax planning and documentation.
Property tax ranges from 0.02-0.10% annually on assessed rental income value, adding modest but consistent annual costs. Local municipal fees may apply in some areas.
Airbnb service fees of 3% on each booking plus payment processing charges directly reduce gross income before tax calculations.
Effective tax planning through proper expense documentation, legal entity structuring, and professional accounting can optimize the overall tax burden while maintaining compliance with Thai regulations.
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Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Thailand's Airbnb condo market offers viable investment opportunities for informed investors who carefully select properties in legally compliant buildings and manage operational challenges effectively.
Success requires thorough due diligence on building regulations, realistic expectations about seasonal income fluctuations, and professional property management to maintain competitive advantage in an increasingly crowded market.
Sources
- Bangkok Average Condo Price Per Square Meter
- Phuket Condo Market Adaptation in 2025
- Chiang Mai Price Forecasts
- AirROI Bangkok Report
- Annual Airbnb Revenue in Bangkok Thailand
- Annual Airbnb Revenue in Phuket Thailand
- Annual Airbnb Revenue in Chiang Mai Thailand
- AirROI Chiang Mai Report
- Bangkok Rental Market Analysis
- Phuket Property Prices 2025