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</style><header class="site-h"><div class="w"><a class="brand" href="/en">Fortunova<small>Capital Group</small></a><div class="nav"><a href="/en/investment">Investment</a><a href="/en/rent">Rentals</a><a href="/en/resale">Resale</a><a href="/en/blog">Blog</a><a href="/en#objects">Projects</a><a href="/en#faq">FAQ</a><a href="/en#about">Contact</a><span class="lang"><a href="/blog/chistaya-dohodnost-arendy-phuket">RU</a> / <b>EN</b></span></div></div></header><main><article class="art"><div class="w"><div class="crumb"><a href="/en">Home</a> · <a href="/en/blog">Blog</a></div><h1>Net rental yield in Phuket: how to count it</h1><div class="meta">21 September 2026 · Lyubov Fortunova, Fortunova Capital Group</div><p class="lead">A brochure shows you gross yield at perfect occupancy. You live with net yield at real occupancy. The gap between those two numbers is the single largest source of disappointment on this island, and it is also the easiest one to close, because every input is knowable before you pay a deposit. Phuket does produce income. It simply does not like being estimated by eye.</p><h2>Where the big number comes from</h2><p>Gross yield is annual rental revenue divided by the price of the property. It is easy to present because it needs only two inputs: a nightly rate and a number of nights. In almost every presentation I have read, both inputs are taken at the top of their range.</p><p>The rate that belongs in the calculation is not the high-season rate. It is the weighted average across the year, including the months when the island is quiet and the rate drops by half. And the occupancy that belongs in the calculation is not a projection. It is what the specific management company can show from buildings it already operates, in the same area, for last year.</p><p>Ask for that one document and most of the argument disappears. A company that runs real inventory has the figures on hand. A company that does not will offer you a forecast instead, and a forecast is an opinion with a decimal point.</p><h2>What comes out before the money reaches you</h2><ul><li><b>Management fee.</b> On short-term rental this is normally 20-30% of revenue, and it is charged on turnover, not on profit.</li><li><b>Void periods.</b> Between guests and through the low season the apartment earns nothing while its costs continue.</li><li><b>Rental income tax in Thailand.</b> The rate depends on whether the income is registered to you personally or to a company.</li><li><b>Common area fees and utilities.</b> Charged by floor area, every month, whether or not anyone is staying.</li><li><b>Sinking fund and wear.</b> The capital fund is paid once on handover, but furniture and appliances in short-term rental age faster than most owners expect.</li><li><b>Insurance, internet, cleaning between stays, consumables.</b> Individually small, together a visible line.</li></ul><div class="callout">I quote yield after tax, after the management fee and after realistic voids. Not because it looks better that way, it does not, but because that is the figure that lands in your account. If the number after all deductions does not work for you, that is far better discovered before the deposit than after the second quarterly statement.</div><h2>The five-minute version you can do yourself</h2><p>Take the average nightly rate across the full year. Multiply by 365. Multiply by real occupancy as a decimal, so 0.65 for 65%. That is your gross revenue.</p><p>From that, subtract the management fee, the annual common area charges and the rental tax. Then divide what is left by your full cost of entry, which is the price of the unit plus furniture plus all transaction costs. That is your net yield.</p><p>Two details decide the outcome. The first is that the denominator has to be the full cost of entry, not the headline price; I set out every line of it in <a href="/en/blog/phuket-property-purchase-costs-and-taxes">purchase costs and taxes in Phuket</a>. The second is that the running costs have to be in there as real annual figures, which is what <a href="/en/blog/cost-of-owning-property-in-thailand">the cost of owning property in Thailand</a> is for. Leave either one out and the yield rises by two or three percentage points on paper without anything changing in reality.</p><h2>Benchmarks, not promises</h2><p>On a good quality property in Phuket, a healthy net yield is in the region of 6-8% a year. In the busier Bang Tao and Laguna corridor, 4-6% net against a 7-9% gross is the realistic expectation, because supply there is high and competition for the guest is real.</p><p>Annual occupancy runs at 60-70%, rising to 75-80% in high season. The management company takes 20-30% of revenue. Those three numbers, applied honestly, are what turns a brochure figure into a bank statement.</p><p>Double-digit net yield is not something I will show you, because I have not seen it hold on this market without either elevated risk or a developer guarantee that runs for a fixed term and then ends. How those programmes work, and what the asset does after the programme finishes, is a subject of its own: <a href="/en/blog/guaranteed-rental-yield-thailand">guaranteed rental yield in Thailand</a>.</p><h2>The other half of the return</h2><p>Rental yield is not the whole picture. Buying off-plan and holding to handover has historically added 20-30% in capital value on well-chosen projects, and for many of my clients that is the larger component of the total return.</p><p>This matters for how you read a low yield. A unit in a prime location producing 5% net while the building appreciates is a different asset from a unit producing 5% net in an oversupplied street with three identical towers under construction next door. The yield line alone will not tell you which one you are looking at.</p><h2>What actually decides the number</h2><ul><li>Walking distance to the beach and to everyday amenities, measured on foot rather than by car</li><li>Who manages the building: an international operator, a local company, or the owner personally</li><li>Whether the project has published performance data from phases already delivered</li><li>How many comparable units will come onto the market in that area over the next two to three years</li><li>What happens to occupancy in the low season, which is the real test of a location</li><li>Whether the building's own rules permit short-term letting at all</li></ul><p>The last point catches people out more often than it should. Some condominium rules restrict daily letting, and a daily-rate model in a building that does not allow it is not a yield calculation, it is a problem waiting for a committee meeting. I check it on every unit that is bought for rental, and the management side of it is covered in <a href="/en/blog/property-management-and-rentals-phuket">who will actually rent out your apartment</a>.</p><h2>Who does what</h2><p>The numbers are my side of the table. I build the calculation, request the operator's real occupancy and rate history, price the running costs and show you the net figure with every deduction visible. Tax treatment of your rental income, and how it interacts with tax at home, sits with the Thai accountants and the tax advisers I work with, and I bring them in early rather than after the first rental year.</p><div class="calm"><div class="lab">Straight talk</div><p>This island genuinely produces income. A well-chosen apartment, managed by people who show real figures, returns a solid single-digit net yield year after year, and in a currency and a jurisdiction that a lot of my clients specifically want exposure to. What it does not do is reward estimation by eye. Every input in that calculation exists in a document somewhere, and my job is to collect those documents before your money moves rather than after. If the honest number does not meet what you need, I will tell you that plainly and we will look at something else.</p></div><div class="nextup"><div class="lab">Next step</div><ul><li><a href="/en#calc">Yield calculator</a> <span class="n">— run your own numbers in a minute</span></li><li><a href="/en/investment">Investment property selection</a> <span class="n">— net yield calculated on specific units</span></li><li><a href="/en#objects">Projects I work with</a> <span class="n">— developments where I hold direct terms from the developer</span></li></ul></div><div class="partners"><div class="lab">Who does what</div><h3>Legal, visa and tax work is not mine — it belongs to partners I use constantly</h3><p>I am an investment strategist: I select the property, calculate the net return, check the developer and run the transaction. Anything that needs a legal, immigration or tax qualification goes to specialists I have worked with for years.</p><ul><li><b>Thai lawyers</b> — document and contract review, land title, registration at the Land Office, wills, powers of attorney, corporate questions</li><li><b>Visa partners</b> — choosing and filing the right route for your situation: investment-based, LTR, Thailand Privilege, retirement, DTV</li><li><b>Tax specialists</b> — reporting in your country of tax residence, treaty credit for Thai tax, declarations on foreign assets</li><li><b>Company formation in Thailand</b> — when a structure is genuinely needed and lawful</li><li><b>Rental management and concierge</b> — letting the property, transfers, yachts, events</li></ul><p style="margin-top:16px">I introduce partners personally, matched to your actual question, so that you speak to the specialist who handles it rather than to a general inbox. Message me and I will make the introduction.</p></div><h2>Frequently asked</h2><div class="faq"><details><summary>What rental yield is realistic in Phuket?</summary><div class="ans">On good quality property, around 6-8% net per year. In the busier Bang Tao and Laguna corridor, 4-6% net against a 7-9% gross is more realistic. Annual occupancy typically runs at 60-70%.</div></details><details><summary>Why is the yield in the brochure so much higher?</summary><div class="ans">Because it is usually gross, calculated at peak nightly rates and full occupancy, before the management fee, tax, void periods and running costs. The same property honestly recalculated usually lands several percentage points lower.</div></details><details><summary>Do I pay tax on rental income in Thailand?</summary><div class="ans">Yes, rental income is taxable in Thailand. The rate depends on whether the income is registered to you as an individual or to a company, and the detail is handled by the Thai accountants I work with.</div></details></div><div class="acta"><div class="ph"><img src="https://static.tildacdn.net/tild6332-3563-4330-b164-393731326666/fcg-lyubov.jpg" alt="Lyubov Fortunova, Fortunova Capital Group" loading="lazy"><i></i></div><div><div class="lab">Author · online</div><h3>Lyubov Fortunova</h3><p>Investment strategist and founder of Fortunova Capital Group. I have lived on Phuket for more than five years and run every deal myself: I select the property, calculate the net return, check the developer and hold the process together until the keys are handed over. Lawyers, visa and tax specialists come from my own circle.</p><p class="q">“I count net, not dreams”</p><p>Could you send me the net yield on a couple of units in my budget, with the management fee, tax and void periods already deducted?</p><div class="act"><a class="wa" href="https://wa.me/66829819522?text=Hello%20Lyubov%21%20I%20read%20your%20article%20%E2%80%9CNet%20rental%20yield%20in%20Phuket%3A%20how%20to%20count%20it%E2%80%9D%20on%20your%20website.%20Could%20you%20send%20me%20the%20net%20yield%20on%20a%20couple%20of%20units%20in%20my%20budget%2C%20with%20the%20management%20fee%2C%20tax%20and%20void%20periods%20already%20deducted%3F" target="_blank" rel="noopener"><svg viewBox="0 0 24 24" fill="currentColor" aria-hidden="true"><path d="M17.47 14.38c-.3-.15-1.75-.86-2.02-.96-.27-.1-.47-.15-.67.15-.2.3-.77.96-.94 1.16-.17.2-.35.22-.64.07-.3-.15-1.25-.46-2.38-1.47-.88-.78-1.47-1.75-1.65-2.05-.17-.3-.02-.46.13-.6.13-.13.3-.35.45-.52.15-.17.2-.3.3-.5.1-.2.05-.37-.02-.52-.08-.15-.67-1.6-.92-2.2-.24-.58-.49-.5-.67-.51h-.57c-.2 0-.52.07-.79.37-.27.3-1.04 1.01-1.04 2.47s1.06 2.86 1.21 3.06c.15.2 2.1 3.2 5.08 4.49.71.3 1.26.49 1.69.63.71.22 1.36.19 1.87.12.57-.09 1.75-.72 2-1.41.25-.69.25-1.28.17-1.41-.07-.13-.27-.2-.57-.35z"/><path d="M12.04 2C6.58 2 2.13 6.45 2.13 11.91c0 1.75.46 3.46 1.32 4.96L2 22l5.25-1.38c1.45.79 3.08 1.21 4.79 1.21h.01c5.46 0 9.91-4.45 9.91-9.91C21.96 6.45 17.5 2 12.04 2zm0 18.03h-.01c-1.53 0-3.03-.41-4.34-1.19l-.31-.18-3.22.84.86-3.14-.2-.32a8.2 8.2 0 0 1-1.26-4.38c0-4.54 3.7-8.23 8.25-8.23 2.2 0 4.27.86 5.83 2.42a8.19 8.19 0 0 1 2.41 5.82c0 4.54-3.7 8.24-8.24 8.24z"/></svg> Message me on WhatsApp</a></div><p class="who">I answer personally, within the working day, in any time zone. No calls unless you want them. A question about the article is free and commits you to nothing.</p><div class="lnk"><a href="/en#lead">Send a request</a><a href="https://t.me/invest_in_phuket" target="_blank" rel="noopener">Telegram</a><a href="https://www.instagram.com/love_fortunova/" target="_blank" rel="noopener">Instagram</a></div></div></div><div class="rel"><div class="lab">Read next</div><ul><li><a href="/en/blog/guaranteed-rental-yield-thailand">Guaranteed rental yield: what it actually is</a></li><li><a href="/en/blog/phuket-property-purchase-costs-and-taxes">Purchase costs and taxes in Phuket</a></li><li><a href="/en/blog/cost-of-owning-property-in-thailand">What it costs to own property in Thailand</a></li><li><a href="/en/blog/property-management-and-rentals-phuket">Who will actually rent out your apartment</a></li></ul><ul style="margin-top:10px"><li><a href="/en/blog">All blog articles</a></li></ul></div></div></article></main><footer class="foot"><div class="w"><div>Fortunova Capital Group · Eclectic Trend Co., Ltd. · Tax ID 0835567033471<br>7/4 Moo 1, Chalong, Mueang Phuket, Thailand · +66 82 981 9522 · <a href="/en/privacy">Privacy policy</a></div><div class="dis">The information on this page is for general guidance and is not legal, tax or investment advice. Thai statutes and registration practice change over time. The terms of any particular transaction are set by its contract and are reviewed by a Thai lawyer before signing.</div></div></footer><a class="fw" href="https://wa.me/66829819522?text=Hello%20Lyubov%21%20I%20am%20writing%20from%20your%20website%2C%20I%20have%20a%20question%20about%20property%20in%20Phuket." target="_blank" rel="noopener" aria-label="Message Lyubov Fortunova on WhatsApp"><span class="av"><img src="https://static.tildacdn.net/tild6332-3563-4330-b164-393731326666/fcg-lyubov.jpg" alt="Lyubov Fortunova" loading="lazy"><i></i></span><span class="t"><b>Lyubov is online</b><span>I reply personally on WhatsApp</span></span><span class="wi"><svg viewBox="0 0 24 24" fill="currentColor" aria-hidden="true"><path d="M17.47 14.38c-.3-.15-1.75-.86-2.02-.96-.27-.1-.47-.15-.67.15-.2.3-.77.96-.94 1.16-.17.2-.35.22-.64.07-.3-.15-1.25-.46-2.38-1.47-.88-.78-1.47-1.75-1.65-2.05-.17-.3-.02-.46.13-.6.13-.13.3-.35.45-.52.15-.17.2-.3.3-.5.1-.2.05-.37-.02-.52-.08-.15-.67-1.6-.92-2.2-.24-.58-.49-.5-.67-.51h-.57c-.2 0-.52.07-.79.37-.27.3-1.04 1.01-1.04 2.47s1.06 2.86 1.21 3.06c.15.2 2.1 3.2 5.08 4.49.71.3 1.26.49 1.69.63.71.22 1.36.19 1.87.12.57-.09 1.75-.72 2-1.41.25-.69.25-1.28.17-1.41-.07-.13-.27-.2-.57-.35z"/><path d="M12.04 2C6.58 2 2.13 6.45 2.13 11.91c0 1.75.46 3.46 1.32 4.96L2 22l5.25-1.38c1.45.79 3.08 1.21 4.79 1.21h.01c5.46 0 9.91-4.45 9.91-9.91C21.96 6.45 17.5 2 12.04 2zm0 18.03h-.01c-1.53 0-3.03-.41-4.34-1.19l-.31-.18-3.22.84.86-3.14-.2-.32a8.2 8.2 0 0 1-1.26-4.38c0-4.54 3.7-8.23 8.25-8.23 2.2 0 4.27.86 5.83 2.42a8.19 8.19 0 0 1 2.41 5.82c0 4.54-3.7 8.24-8.24 8.24z"/></svg></span></a></div><script type="application/ld+json">{"@context": "https://schema.org", "@type": "BlogPosting", "headline": "Net rental yield in Phuket: how to count it", "description": "Why a brochure yield becomes 5-6% in your account, and how to work out the net return on a Phuket apartment yourself: occupancy, management fee, tax, voids and running costs.", "url": "https://fortunovacapital.com/en/blog/phuket-rental-yield-net-returns", "mainEntityOfPage": {"@type": "WebPage", "@id": "https://fortunovacapital.com/en/blog/phuket-rental-yield-net-returns"}, "datePublished": "2026-09-21", "dateModified": "2026-09-21", "inLanguage": "en", "author": {"@type": "Person", "name": "Lyubov Fortunova", "alternateName": ["Любовь Фортунова"], "jobTitle": "Investment strategist", "url": "https://fortunovacapital.com/en#about", "sameAs": ["https://t.me/invest_in_phuket", "https://www.instagram.com/invest_in_phuket/", "https://www.instagram.com/love_fortunova/", "https://www.youtube.com/@InvestinPhuket"], "worksFor": {"@id": "https://fortunovacapital.com/#organization"}}, "publisher": {"@id": "https://fortunovacapital.com/#organization"}, "isAccessibleForFree": true, "about": {"@type": "Thing", "name": "Phuket real estate"}, "spatialCoverage": {"@type": "Place", "name": "Phuket, Thailand"}}</script><script type="application/ld+json">{"@context": "https://schema.org", "@type": "BreadcrumbList", "itemListElement": [{"@type": "ListItem", "position": 1, "name": "Home", "item": "https://fortunovacapital.com/en"}, {"@type": "ListItem", "position": 2, "name": "Blog", "item": "https://fortunovacapital.com/en/blog"}, {"@type": "ListItem", "position": 3, "name": "Net rental yield in Phuket: how to count it", "item": "https://fortunovacapital.com/en/blog/phuket-rental-yield-net-returns"}]}</script><script type="application/ld+json">{"@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{"@type": "Question", "name": "What rental yield is realistic in Phuket?", "acceptedAnswer": {"@type": "Answer", "text": "On good quality property, around 6-8% net per year. 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