Essence Residence Rawai Review 2026: Prices, Investment

Essence Residence is a boutique premium development in Rawai, close to handover, and one of the last chances to buy a well-designed Rawai condominium at off-plan pricing. What distinguishes Essence from many Rawai competitors: the unit sizes are generous. Studios run 53-84 sqm, 1BR units up to 127 sqm, and 2BR up to 260 sqm, sizes more typically associated with Kamala or Bang Tao product.

Larger units mean a different rental strategy, rather than chasing short-term tourist volume, Essence is positioned for monthly and long-stay renters who want space. This is a growing and increasingly lucrative segment of Phuket’s rental market, driven by digital nomads, remote workers, and long-stay European visitors.

Studios start at 5,600,000 THB ($171k), slightly above Rawai average but justified by exceptional size and finish quality.

Project Overview

Essence Residence targets the segment of Rawai’s rental market that specifically wants larger, more livable units rather than compact investment boxes. The Rawai area has matured significantly, a growing community of European expats, Australian retirees, and digital nomads now seeks long-term residential space that feels like a real home, not a hotel room.

Location and Area

• Nai Harn Beach, 5-8 minutes, consistently ranked among Thailand’s best
• Rawai Seafront Promenade, seafood restaurants, market stalls, evening walks
• Chalong Bay, 10 minutes, hub for PADI diving, sailing charters, and Muay Thai
• Kata Beach, 10-15 minutes, surf schools and international cafés
• Villa Market Rawai, European grocery and deli, day-to-day expat shopping

For the long-stay tenant profile that Essence targets, Rawai’s combination of authenticity, lifestyle access, and relative quiet is the ideal setting. Monthly rental rates for large Rawai units: 20,000-40,000 THB for studios at Essence sizing, 35,000-70,000 THB for 1BR units, 55,000-100,000 THB for 2BR.

Life in Rawai for Long-Stay Residents

Rawai is where many of Phuket’s long-term residents choose to live. Mornings start on the seafront promenade or at Nai Harn Beach a few minutes away, Villa Market covers the European grocery shop, and Chalong Bay’s dive centres, sailing charters and Muay Thai gyms fill the weekends. Kata’s surf schools and cafés are a short drive north.

That rhythm is what Essence’s large units are designed for. A couple working remotely has room for a proper desk, a family has space for guests, and a retiree has a home that feels like one rather than a holiday rental. It is also why tenants in Rawai tend to renew: once settled into the neighbourhood, few want to move.

Investment Analysis

• Gross rental yield: 7-9% for large studios, 7-8% for 1BR, based on higher achievable monthly rents for above-average unit sizes
• Target rental profile: Monthly and quarterly renters; digital nomads; long-stay Europeans; retiring expats
• Near-term income: the building is close to handover, so rental income starts soon
• Value: buyers pay for quality and size in a building that is nearly finished

The 2BR at 99-260 sqm ($320k-$587k) competes directly with pool villa rentals in Rawai/Nai Harn. For investors who want villa-scale space without villa maintenance complexity, Essence’s 2BR is a compelling alternative.

That comparison deserves to be made properly rather than asserted, because the two assets differ on more than square metres. In the condominium’s favour: a foreign buyer can hold it freehold within the 49% quota, whereas a villa is held through a registered lease or a Thai company. The condo also has no private pool to service, no garden staff, and a juristic office that handles the building rather than an owner who handles everything. In the villa’s favour: privacy and a pool of your own. The large 2BR wins on ownership security and running cost, which makes it the stronger choice for buyers who want villa-scale space with condominium ease.

Payment Plan

• 50-70% is paid before handover, since the build is already well advanced and the remaining milestones are close together
• Remaining balance on transfer

We send the current payment terms with the price list; with the build this far along, the schedule is shorter than on an early-stage project.

Why Buyers Choose Essence Residence

• Unit sizes well above the Rawai norm, 53 to 84 sqm studios and 1BR to 127 sqm
• Aimed at the long-stay segment, which keeps a unit let through the low season
• Close to handover, so income starts soon
• A condominium, so a foreign buyer can register freehold within the 49% quota
• The 2BR competes with pool villas on space without villa maintenance or a lease structure

Why the Extra Square Metres Pay Off

Size is what you pay for here: a 53 to 84 sqm studio is roughly double the footprint of a typical Phuket investment studio, and the 2BR at up to 260 sqm is villa-scale. The space pays off in a specific market, and that market is the one Essence is built for.

On the nightly market a guest books bedrooms and a location rather than floor area, so these units are planned around longer stays.

A tenant taking a place for three months or a year is choosing where to live, and for them space is the product: room to work, room to cook properly, room to spread out through a rainy October. That tenant pays a genuine premium for area, stays through the low season and costs almost nothing to service between tenancies. Long-stay rates of 20,000 to 40,000 THB for the larger studios and 35,000 to 70,000 for the 1BR reflect that, well above what Rawai’s compact stock reaches.

So the sizing is a deliberate choice for the long-stay market, and we plan the income on twelve-month tenancies with high occupancy.

On an annual tenancy the management arrangement is simpler than on nightly letting, and we agree a fee basis that fits long lets. At resale these homes appeal to owner-occupiers who want the space and to investors who follow the same long-stay approach. For more, see the rental yield guide and condo versus villa.

Generous Sizes and Who They Suit

Essence’s units are unusually large for Rawai: studios 53 to 84 sqm, one-bedrooms to 127 sqm, two-bedrooms to 260 sqm. Size works differently in each market:

Rental market	How the extra square metres behave
Nightly holiday letting	A guest books bedrooms rather than floor area
Monthly long-stay	Paid for directly, and the reason a tenant chooses you
Remote workers on extended stays	Paid for: a workspace is the deciding feature
Resale to an owner-occupier	Paid for at full rate per square metre
Resale to a long-stay investor	Valued for the rent the space commands

From 5,200,000 THB, the purchase is planned against monthly and long-stay demand, with nightly income as a bonus.

Buying Essence Residence with MORE Group

At Essence Residence the purchase runs in five steps from the first price list to the keys, and we are with you for each of them.

1. 1

   Current price list and free units

   We ask the developer for today's price list for Essence Residence and send you the units that match your budget, with floor plans.

2. 2

   Foreign quota on your unit

   Foreign buyers hold condo freehold within the 49% foreign quota of the building, counted by floor area. We confirm with the developer that the unit you choose sits inside that quota. How the foreign quota works

3. 3

   Reservation and payment schedule

   A reservation deposit holds the unit, and the balance follows the developer's payment schedule, which we send with the price list.

4. 4

   Transfer and registration

   The purchase money arrives from abroad in foreign currency with an FET form, and the unit is registered in your name at the Land Department. The FET form explained

5. 5

   After the keys

   We stay in touch after handover and help with rental options and a future resale when you want them.

0% buyer commission. Ask for the current price list

Frequently Asked Questions

Where is Essence Residence located? +

Essence Residence is located in Rawai, southern Phuket. Rawai is adjacent to Nai Harn Beach (5-8 minutes), Chalong Bay (10 minutes), and Kata Beach (10-15 minutes). The airport is approximately 45-55 minutes north.

What is the price range for Essence Residence? +

Studios (53-84 sqm) start at 5,600,000 THB ($171,254). 1BR units from 5,200,000 THB ($159,021) to 13,800,000 THB ($422,018). 2BR units from 11,200,000 THB ($342,508) to 20,550,000 THB ($628,440). These are the developer's list prices from early 2026.

Is Essence Residence good for rental investment? +

Yes, for buyers targeting long-stay and monthly rentals. The large unit sizes (53-84 sqm studios) achieve higher monthly rents than standard compact studios, supporting 7-9% gross yields. The growing digital nomad and long-stay European segment in Rawai is specifically looking for this type of spacious, well-finished accommodation.

What stage is Essence Residence at? +

Essence Residence is close to handover, with most of the construction already complete. We send the outstanding balance, the remaining milestones and the latest construction update together with the price list.

Can foreigners buy units at Essence Residence? +

Yes. Foreign buyers can purchase condominium units at Essence Residence under the 49% foreign ownership quota, which allows freehold title. We prepare the Sale and Purchase Agreement with you, with our legal support.

Read Also:

• Enigma Residence Rawai Review 2026: Prices, Investment
• Next Point Condominium: Rawai Studios from 3.9M THB
• How Foreigners Buy Phuket Property 2026
• Buying Property in Thailand Step by Step