When it comes to rental properties, prices can either make or break your decision to rent. Although Phuket is comparatively cheaper than most other cities around the world, the rent prices in the province vary depending on location. Some properties can be a steal, while some are worth their high rents.
What are the average rent prices per square meter in the different neighborhoods of Phuket?
|Location||Average Monthly Rent in 2020||Average Rent Price Per Square Meter|
|Phuket Town||20,000 THB||125 THB|
|Patong||35,000 THB||116 THB|
|Kamala||25,000 THB||250 THB|
|Surin||45,000 THB||280 THB|
|Rawai/Nai Harn||40,000 THB||250 THB|
|Bang Tao/Layan||65,000 THB||280 THB|
|Kata/Karon||45,000 THB||250 THB|
|Chalong||30,000 THB||160 THB|
|Kathu||25,000 THB||190 THB|
Note: The above figures are the average rental prices for long-term rent in 2020 during the COVID-19 pandemic. Under normal circumstances, rent prices are generally 30-50% higher.
In Phuket, properties that are close to the island’s beaches usually have higher rents. Patong, Karon, Kata, Kamala, Surin, and Bang Tao all are beachfront and oceanfront areas and therefore, have rental properties on the higher end of the price range compared to other neighborhoods.
You can find some of the most affordable rental properties in Phuket Town, Kathu, and Thalang. However, just because they’re not located near Phuket’s beaches doesn’t mean they’re not deserving of your consideration as these neighborhoods have unique attractions and various things for people to do.
What factors influence rent prices in Phuket?
When land supply is low, rent prices naturally increase. Currently, in Phuket, undeveloped land near the sea is limited and therefore, oceanfront condominiums and villas with sea views are priced higher than properties located away from the sea.
Property Demand and Supply
Like land supply, property prices rise when the supply of condominiums and/or villas are low, and fall when the supply of condominiums and/or villas are high. If certain types of properties are low in supply but high in demand, like oceanfront properties, then the prices of those properties will also increase.
Location is another factor that influences rental prices. If a property is located in a prime location with access to different modes of transport, healthcare facilities, supermarkets, wet markets, shopping malls, and other necessities, then the property will, more likely than not, have a higher rent price due to the convenience it offers. In Phuket, Patong, Bang Tao, Kamala, and Layan are considered to be expensive neighborhoods.
Number of Rooms
The prices of rental properties usually increase with the number of rooms it has. This is because properties with more rooms can hold more occupants and offer greater privacy, make them all the more valuable.
Properties with great amenities generally have higher rents. In Phuket, residences that come with common swimming pools, gyms, sauna, spa, restaurants, convenience stores, etc… fall on the higher end of the rent price scale.
Are you looking to rent a property in Phuket? Get in touch with us today!