Phuket Palace

Phuket Palace is a 15-storey residential tower completed in 1992 that occupies 6,680 square metres in Patong, Phuket's most established tourism and entertainment district. The project comprises 168 units across condominium and penthouse typologies, making it a substantial mid-range residential asset in a zone that has sustained high visitor and expat populations for three decades. Current market listings range from 3 million to 20 million baht, reflecting the mixed-age inventory and varying unit specifications within the building.

The property operates under hotel management, a structural arrangement that distinguishes it from standard residential buildings in the area and creates operational continuity typical of properties built during Phuket's earlier development phase. On-site amenities include a communal pool, gym, restaurant, cigar lounge, and landscaped garden area, supported by vehicle parking and a staffed reception. This configuration appeals to both owner-occupiers seeking full-time residence and investors considering short-term rental models, as the managed environment reduces individual unit operational burdens.

Patong remains the primary tourism zone on the island, anchored by sustained visitor flows, established hospitality infrastructure, and consistent demand for short-term rental inventory. The zone supports a bifurcated market: properties suitable for nightly tourist lettings through established hotel channels, and longer-term lease opportunities serving expat communities and business travellers. The 1992 completion date positions Phuket Palace among second-generation developments in Patong, a market segment with proven capital retention and moderate but reliable yield expectations.

For investors, the hotel management structure and established amenity package present a low-friction path to short-term rental income, particularly relevant given Patong's status as the island's primary high-volume tourism destination. Current pricing tiers suggest unit selection flexibility depending on investor scale and yield expectations. The zone historically delivers 4-7 percent annual yields on STR-suitable properties, with long-term lease strategies yielding 3-5 percent. Foreign ownership remains straightforward under Thai legal frameworks, making this asset class accessible to external capital seeking recurring tourism-dependent income streams.