Renting Out an Apartment in Pattaya: A Guide for Property Investors

Start with the right numbers

The figure that matters is net yield: the rent you keep after costs, divided by what you paid. Gross yield, annual rent divided by the purchase price, is only the starting point. Here is an illustration with assumed numbers, not a promise: you buy a unit for 3,000,000 baht and let it for 15,000 baht a month. Annual rent is 180,000 baht, a gross yield of 6%. Then subtract maintenance fees (for example 2,000 baht a month, 24,000 a year), utilities and internet if you pay them, management or agent fees, furnishing and repairs, any tax on the income, and the months the unit stands empty. The net figure is lower, sometimes much lower. Always run the calculation with your own assumptions before you buy.

Short-term or long-term lets

Rentals of a month or more are the normal, safe route. Under Thai law, letting a condominium unit to tourists for stays of less than 30 days generally needs a hotel licence, and many condominium buildings prohibit short stays in their own rules. Enforcement varies, but it is a real risk. Before you buy, ask the building's management what the rules are, and take legal advice if you plan short stays. For most investors, tenants who stay for several months to a year are the practical choice.

Which units rent best

• Studios and one-bedroom apartments are the most common rentals. See studios and one-bedroom apartments.
• Location: close to the beach, shops and transport. Central Pattaya, Jomtien and Pratumnak are the areas tenants most often ask about.
• The building: a pool, a gym, security and a well-managed common area make a unit easier to let and to resell.
• Furnished and move-in ready units let faster than empty ones.

Winter months are typically busier in Pattaya, so expect the rental income to be uneven across the year.

New build or resale for a rental

A new build can only be let after it is completed, 2-3 years after you start paying, so for the first years you pay without income. A resale apartment can be let immediately and is often 20-30% cheaper than a new build in the same area. New builds, on the other hand, can be bought on a developer installment plan, which spreads the cost. We compare the two in new developments vs. resale condos.

Costs, tax and management

• Purchase costs: the registration fee at transfer is about 2% of the registered value.
• Ongoing costs: maintenance fees (for a 50 m² unit in a mid-range building typically 1,750-2,500 baht a month) are paid by the owner. See condo fees in Pattaya.
• Tax: rental income from a property in Thailand is generally taxable in Thailand, and you may also have to report it in your home country. Take advice from a tax adviser.
• Management: if you do not live in Pattaya, a property manager or a local agent can find tenants, collect rent and handle repairs, for a fee. Compare what is included.

Ownership and resale

A foreigner can own an apartment freehold in their own name under the building's foreign quota (up to 49% of the unit area), which also helps at resale because you can sell to foreigners and Thai buyers alike. See how the foreign quota works and the current prices by district.

Frequently asked questions

What rental yield can I expect in Pattaya?

It depends on the unit, the location, the season and your costs, and we do not promise a figure. Calculate net yield with your own numbers, as above, and compare several buildings.

Can I rent out my condo on a short-term basis?

Letting for less than 30 days generally requires a hotel licence in Thailand, and many buildings forbid it. Check the building's rules and take legal advice first.

Do I need a manager if I live abroad?

It is practical. A manager or local agent finds tenants, collects rent and deals with repairs for a fee.

Tell us your budget and your goal and we will shortlist apartments that suit renting out. You can also see all apartments for sale in Pattaya.