Thailand Rental Yield Calculator 2026: Gross, Net, Cash-on-Cash

This calculator returns the gross yield, net yield, cash-on-cash return, annual net income, and payback period on a Thai condominium rental. Enter purchase price, monthly rent, CAM, annual tax and insurance, management commission, vacancy rate, and repairs reserve. Defaults use 2026 market medians: CAM 2,500 THB per month, insurance 8,000 THB per year, Land and Building Tax at 0.02 percent of price, management 10 percent of rent, vacancy 15 percent, repairs 5 percent. The calculator works entirely client-side and produces a full annual expense breakdown alongside the headline yields. Every assumption cites a Thai statute, Revenue Department guidance, or a named 2026 market source and is documented in the assumptions section below.

What the calculator does

It converts a rent quote into the two numbers that actually matter: net yield and payback. Developers and agents lead with gross yield because it looks higher. A Pattaya unit quoted at 7 percent gross often returns 4.5 to 5 percent net after CAM, tax, insurance, management, vacancy, and repairs. That difference is the year, every year, across your entire hold. Net yield also reveals whether a property is cash-positive at all; several 2026 branded-residence programmes with mandatory management pools fall below zero once the full expense stack is applied. Use this tool on every quote before engaging a lawyer.

Purchase price (THB)Monthly rent (THB)Monthly CAM (THB)Annual property tax (THB, leave 0 to auto-calc 0.02% of price)Annual insurance (THB)Management fee (% of rent)Vacancy (% of year)Repairs reserve (% of rent)

How each number is calculated

Every input and every formula maps to a Thai statute, a Revenue Department rule, or a cited 2026 market source. Below is the full schedule with citations, exactly as the script applies them.

Gross yield

Gross yield equals twelve monthly rents divided by purchase price, expressed as a percentage. It ignores every expense. It is useful for two things: quick comparison against portal listings, and sanity-checking a developer’s quoted “rental return” which is always gross. For 2026 Thailand, GlobalPropertyGuide’s national survey puts Bangkok at 4 to 5.5 percent, Pattaya at 5.5 to 7.0 percent, and Phuket at 4.5 to 6.0 percent long-let. Anything above those ranges should be questioned, not celebrated.

Vacancy

Default 15 percent of the year. A unit rented on one-year contracts with a reliable foreign-tenant pool realistically runs 5 to 12 percent vacancy in Bangkok prime BTS-core and 10 to 20 percent in Pattaya and Phuket where supply is heavier. The Cushman and Wakefield Q1 2026 Market Beat reports both ranges. Branded-residence hotel-pooled programmes target 60 to 75 percent annual occupancy (25 to 40 percent vacancy); set the input accordingly if you are evaluating a managed programme.

Common-area maintenance

CAM default 2,500 THB per month (roughly 40 to 50 sqm unit at 50 to 60 THB per sqm). The juristic person sets the rate. Most Pattaya mid-tier buildings sit at 40 to 60 THB per sqm per month; Bangkok Sukhumvit prime-core and Phuket branded residences run 80 to 120 THB per sqm. Replace the default with the juristic person’s current assessment notice. CAM is charged regardless of occupancy; if the unit is empty you still owe it.

Land and Building Tax

Default 0.02 percent of purchase price. The Land and Building Tax Act B.E. 2562 (2019) sets a graduated residential schedule. A primary residence of a Thai national or a foreign-owned unit held as the owner’s residence under 50 million THB is effectively 0.02 percent. A second home or pure investment unit rises to 0.03 percent at entry and steps further. Override the default if the unit is an investment vehicle rather than an occasional owner-occupied residence. The Revenue Department publishes the current schedule.

Insurance

Default 8,000 THB per year for a 40 to 80 sqm unit. Contents, personal liability, and optional rental-interruption from Muang Thai, Dhipaya, or Viriyah. Smaller studios start around 5,000 THB; large penthouses and branded residences can reach 20,000. This is distinct from the juristic person’s building insurance, which is funded from CAM.

Management

Default 10 percent of effective rent collected. Long-term letting agents in Pattaya, Bangkok, and Phuket charge 8 to 12 percent of monthly rent on a management contract; finder’s-fee-only deals run one month’s rent upfront and then nothing. Short-term legal-licensed programmes (branded residences with in-house hotel management, or genuine hotel licences) run 20 to 35 percent plus a reservation fee. The calculator applies the percentage against effective rent after vacancy.

Repairs reserve

Default 5 percent of effective rent. A Thai condo has minimal structural exposure because the juristic person handles the building envelope and common areas. What the owner pays for is in-unit wear: aircon service and replacement (15,000 to 40,000 THB every three to five years), appliance replacement (30,000 to 80,000 THB across a 10-year hold), paint and caulk every tenancy turn, and furniture refresh at the 7-to-10-year mark. Averaged across the year this is close to 5 percent of rent; heavy-wear short-let stock can hit 8 to 12 percent.

Net yield and payback

Net yield equals annual net operating income divided by purchase price. Payback equals purchase price divided by annual net income. Both assume a cash purchase. With leverage, substitute cash invested for purchase price in the denominator and subtract debt service from net income. The calculator does not model leverage because foreign buyers almost never obtain Thai bank mortgages against a Thai condo; the small number who do use offshore financing or developer-held paper are better served by a spreadsheet that can handle amortisation schedules.

How yields vary by city and building class

Thailand yields cluster by city and by position within the city. Pattaya leads the long-let chart at 5.5 to 7.0 percent gross and 3.5 to 5.0 percent net because absolute purchase prices are low and rents keep pace; the downside is heavier vacancy and a shallower foreign-tenant pool than Bangkok. Bangkok prime-core BTS units trade a higher gross (4 to 5.5 percent) for much lower vacancy and deeper tenant bench strength, and they are the only Thai stock where capital growth reliably compounds net yield into a respectable total return. Phuket West Coast branded residences post 4.5 to 6 percent gross in a hotel-managed pool; after the 25 to 35 percent programme fee, net yields run 2.5 to 4 percent, but the owner does no work and the programme includes professional housekeeping, marketing, and front-desk.

Inside any city the biggest yield driver is floor plate efficiency. A 30 sqm studio at 55,000 THB per sqm paying 18,000 THB per month in Pattaya returns 6.5 percent gross. A 90 sqm 2-bedroom at 120,000 THB per sqm paying 48,000 THB per month in the same city returns 5.3 percent. Studios and small 1-bedrooms consistently outperform larger units on yield, which is why the mass of foreign Pattaya and Jomtien inventory is 28 to 45 sqm, not 70 to 100.

Short-let yields are a separate universe and mostly illegal. The Hotel Act B.E. 2547 classifies sub-30-day stays as hotel business, and most condominium juristic-person bylaws independently prohibit daily rentals under Section 32 of the Condominium Act. See the Airbnb and short-term rentals guide for the enforcement and legal structures. For the small number of units inside licensed branded-residence rental pools, the calculator’s 30 percent management input approximates the typical pool fee; run the programme’s documented average pool occupancy as the inverse of vacancy.

Worked examples

Three scenarios show how yields change with city, occupancy model, and building class.

Example 1: Pattaya 1-bedroom, long-let, resale

A 4.8 million THB Jomtien 1-bedroom of 40 sqm rents at 23,000 THB per month on a one-year contract with a 15 percent vacancy assumption. CAM 2,000 THB monthly (40 THB per sqm), tax 960 THB per year, insurance 7,000 THB, management 10 percent, repairs 5 percent. Gross rent 276,000 THB. Effective after vacancy 234,600. Less CAM 24,000, tax 960, insurance 7,000, management 23,460, repairs 11,730 = net 167,450. Gross yield 5.75 percent, net yield 3.49 percent, payback 28.7 years on rent alone. Capital growth is the engine in Pattaya entry tier, not rent.

Example 2: Bangkok Asoke 1-bedroom, long-let, prime BTS

A 9 million THB Asoke 1-bedroom of 42 sqm rents at 42,000 THB per month. CAM 4,200 monthly (100 THB per sqm), tax 1,800, insurance 10,000, management 10 percent, vacancy 8 percent (prime BTS-core), repairs 5 percent. Gross rent 504,000. Effective 463,680. Expenses 40,320 vacancy + 50,400 CAM + 1,800 tax + 10,000 insurance + 46,368 management + 23,184 repairs = 172,072. Net income 331,928. Gross 5.60 percent, net 3.69 percent, payback 27.1 years. Prime Bangkok underperforms a Pattaya mid-tier on net yield; the compensating factor is capital growth plus lower vacancy risk across cycles.

Example 3: Phuket 2-bedroom, hotel-managed rental pool

A 14 million THB Bang Tao 2-bedroom of 90 sqm in a branded-residence rental pool distributes 62,000 THB per month averaged across the year at 65 percent occupancy. For a pooled programme the calculator input is monthly equivalent rent after pool distribution, vacancy 0 (already netted), management 30 percent representing the hotel programme fee. CAM 9,000 monthly (100 THB per sqm), tax 2,800, insurance 14,000, management 30 percent, repairs 3 percent (hotel handles most). Gross rent 744,000. Expenses: 108,000 CAM + 2,800 tax + 14,000 insurance + 223,200 management + 22,320 repairs = 370,320. Net 373,680. Gross 5.31 percent, net 2.67 percent, payback 37.5 years. Pooled programmes often underperform a directly-let unit on net yield; the trade-off is zero management effort and hotel-class marketing reach.

Assumptions and caveats

The calculator uses sensible defaults, not your specific building’s rates. Replace every default with the juristic person’s current notice and your chosen management agent’s quote before making a decision.

• Gross yield uses nominal purchase price, not appraised value. For tax purposes both may matter.
• Vacancy is applied to gross rent, not to occupied months only. Management and repairs percentages are applied to effective rent after vacancy, which reflects standard Thai agency contracts.
• Land and Building Tax default is 0.02 percent (primary residence under 50 million THB). Investment units often pay 0.03 percent or more under the Act’s residential schedule.
• Management default (10 percent) is long-let. For short-let legal programmes use 25 to 35 percent and set vacancy to the occupancy shortfall of your target programme.
• The calculator does not apply income tax. Rental income is taxed to the owner under Thai Revenue Code Section 40(5) at progressive rates with a 30 percent standard deduction on gross rent; the headline numbers shown are pre-tax net operating income, not after-tax cash.
• Short-term rentals under 30 days are illegal without a hotel licence under the Hotel Act B.E. 2547. See the guide on Airbnb and short-term rentals in Thailand before modelling short-let yields on a standard condo.
• Capital growth is excluded. A realistic Pattaya entry-tier total return would add 2 to 4 percent annual capital growth; a prime Bangkok BTS-core unit would add 5 to 7 percent; a Phuket West Coast branded residence would add 6 to 10 percent. Run a separate capital appreciation model.

FAQ

Why is my net yield so much lower than the agent’s quoted number?

Agents quote gross. This calculator quotes net after the full expense stack. A 7 percent gross in Pattaya with 15 percent vacancy, 10 percent management, 5 percent repairs, plus CAM and tax typically returns 4.5 to 5 percent net. That is normal. An agent who quotes 7 percent net is either quoting a 12 percent gross scenario (unrealistic in Thailand) or excluding expenses you will still pay.

Should I use the default 15 percent vacancy?

For Pattaya and Phuket long-let in supply-heavy beachfront clusters, yes. For Bangkok prime BTS-core, use 8 to 12. For branded-residence pooled programmes, use the specific programme’s documented annual occupancy shortfall.

Does the calculator account for income tax on rent?

No. Thai Revenue Code Section 40(5) taxes rental income at progressive rates with a 30 percent standard deduction on gross. A filer in the 20 percent bracket earning 300,000 THB gross rent faces roughly 42,000 THB in tax. Apply this separately if you are modelling after-tax cash.

What about FET form and fund-repatriation issues at sale?

Not a yield question. But holding onto the Foreign Exchange Transaction form from the original purchase is what lets you repatriate sale proceeds in foreign currency at resale. Lose it and you are stuck with a THB account. See the condo resale guide for details.

Can I compare this against bank deposit or bond yield?

Yes, but apply the right lens. Net yield on a Thai condo in 2026 (3 to 5 percent typical) is below a one-year Thai government bond (about 2.3 percent) after tax and ahead of a Thai savings account (0.5 to 1.5 percent). The investment case is total return, which is net yield plus capital appreciation, not yield alone.

Why does payback sometimes show “Never”?

Because total expenses exceed gross rent. This happens most often in heavy-pool short-let programmes with high management fees, or on overpriced units where the rent quote is aspirational. If the calculator returns “Never”, the unit does not pay for itself on rent; only capital growth justifies the purchase.

How does this interact with the cost calculator?

The cost calculator returns your cash out (acquisition and holding). The yield calculator returns your cash in (rent minus operating expenses). Net of net-of-net: net income minus annual holding cost from the cost calculator is your true operational cash return. Run both on the same unit.

Does the calculator save my inputs?

No. Everything runs in the browser with no state. For a saved scenario, screenshot the result or copy numbers into a spreadsheet.