Cherng Talay–Bang Tao rental demand grows as yields reach 8–12%, firm says
Foreign residents, relocators and remote workers are driving long-term rental demand in Phuket’s Cherng Talay–Bang Tao area, according to Plus Property.
Rental demand in Phuket’s Cherng Talay–Bang Tao area is being driven by foreign residents, relocators and remote workers, with rental yields of about 8–12% reported for some condominiums, property manager Plus Property said.
The company said Cherng Talay is developing beyond a tourism destination into a long-term residential community, attracting foreigners seeking a second home in Thailand as well as people moving to the area and working remotely.
Somskul Limsutthaphan, deputy managing director for business development and asset management in the South at Plus Property Co Ltd, said the area’s appeal was supported by international schools, restaurants, cafes, lifestyle malls and access to attractions including Laguna, Bang Tao Beach, Boat Avenue and Porto de Phuket.
Data from Plus Property’s condominium rental management operations in Cherng Talay showed continued demand, particularly at The Base Cherng Talay, a Sansiri-branded project managed by the company. The project generated rental yields of approximately 8–12% a year, the company said.
One-bedroom units were the most popular format among foreign tenants, couples, people working in the area and remote workers. Pet-friendly units were also gaining popularity, according to Plus Property.
The company said professional asset management was important to rental performance, covering market analysis, rental strategy, pricing, marketing, tenant selection and contract administration. Plus Property said it manages more than 440 property projects nationwide, serving more than 100,000 households.
