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Content updated August 2026. Ask for current availability before paying a deposit.
Completed and Ready: No Waiting
For investors who want rental income to start immediately, a completed project near Patong removes the gap that off-plan purchases require. From the date of transfer, the unit can enter a rental programme and begin generating income. That income from day one changes the return calculation compared to an off-plan purchase that sits empty for 18-24 months during construction.
Entry pricing from 3.14M THB makes The City Phuket one of the most accessible completed condominiums in the Patong corridor, a price point that opens the door to both first-time buyers and investors adding a lower-risk, income-generating asset to an existing portfolio.
Location: The Patong Rental Engine
The City Phuket sits within the Patong zone, meaning units benefit directly from that demand pool. Travellers searching for accommodation in Phuket default to Patong first, it is the name they know, the area they have read about, and the location they understand. A condo in this position does not need marketing effort to explain why it is here.
For investors focused on rental yield, the Patong location is the most straightforward argument on the island. The guests come, the demand is documented, and the management infrastructure, rental platforms, property managers, booking channels, is more developed here than anywhere else in Phuket.
Unit Design and Amenities
Studios and one-bedroom units dominate the mix, sized appropriately for the Patong short-term rental profile: couples on a beach holiday, solo travellers, pairs of friends. The building’s design allows management companies to run the rental programme at scale, which keeps management fees competitive and administrative burden low for the owner.
For owners who want to use the unit personally alongside renting it, the Patong location delivers: the beach is close, the restaurants are close, and the airport transfer from Phuket International is under 45 minutes. The City Phuket is a practical base for anyone spending time in Phuket regularly.
Condominium tenure means freehold ownership is available to foreign nationals within the standard 49% foreign quota per building. Given that this is a completed project, MORE Group can confirm exactly which units remain available under the foreign quota before any commitment is made.
Investment Metrics
Because the building is complete, buyers also avoid one of the key risks of off-plan investment: the uncertainty of what you are actually purchasing. Completed units can be inspected, tested, and verified against the specification. There are no gaps between brochure and reality.
Transfer costs and legal fees for a completed freehold condo are straightforward. MORE Group can provide a complete cost breakdown including transfer fee, stamp duty, and legal representation before you commit.
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The first year, from transfer to income
“Income from day one” is the argument for buying completed stock. The first year still carries costs, and they belong in the model.
| At transfer | In the first year |
|---|---|
| Land Office transfer fee and taxes, split as agreed | CAM, billed monthly or annually in advance |
| Sinking fund contribution | Sinking fund top-ups, if the building calls them |
| Any CAM arrears left by the previous owner | Insurance on contents you supply |
| Furnishing, if the unit is bare | Replacement of what guests break |
| Photography and listing setup | Management fee, on gross rather than net |
From 3,140,000 THB near Patong the gross yield can look strong. Subtract the right-hand column before comparing it with anything, because that is the number you actually receive.
Frequently Asked Questions
Yes. The City Phuket is a completed building and units can enter a rental programme from the date of transfer. MORE Group can introduce a property management company operating in the Patong area who can begin the process immediately.
Yes. Thai condominium law allows up to 49% of floor area per building to be owned in a foreign name on a freehold basis. MORE Group will confirm exact foreign quota availability on specific units before any commitment is made.
Typical additional costs for a completed freehold condo include transfer fee (typically split between buyer and seller), stamp duty, and legal fees for title transfer review. MORE Group provides a full cost breakdown as part of the initial advisory process.
One building, four formats, and a two-bedroom that is not a two-bedroom
The current list runs studios of 29 to 39 square metres from 3.14M THB, one-bedrooms of 37 to 51 square metres from 3.98M, three-bedrooms of 75 to 77 square metres from 8.2M, and two-bedrooms spanning 62 all the way to 196 square metres, from 6.55M to 22.83M.
That last range is the one to look at twice. A 196 square metre “two-bedroom” is not the same product as a 62 square metre one; it is a penthouse-scale apartment with two bedrooms in it, and at 22.83M THB it competes with villas rather than with the rest of the building.
The rate per square metre, by contrast, barely moves: everything sits between roughly 101,000 and 117,000 THB per square metre regardless of format. The developer is charging consistently for space and letting size do the work, which makes the comparison across formats unusually clean, and makes the outlier obvious. Before considering the largest units, ask what the resale comparables for a 196 square metre apartment in this part of Phuket actually are, because within the building there are none.
Patong letting: two distinct businesses
The location is one of the few in Phuket with genuine year-round footfall, and it supports two different models that should not be blended in one projection.
The nightly business is what Patong is known for: high season rates well above the island average, a shoulder season that still works, and a low season that is quieter but not empty. It needs active management, and it is heavily dependent on review score, because in a market this deep guests choose on ratings and price rather than on loyalty.
The monthly business is less visible and more reliable. Patong runs on staff (hotels, restaurants, retail, entertainment), and a large share of them rent locally on annual and six-month terms. A studio or one-bedroom in a completed building close to the centre lets into that market continuously, at a fraction of the nightly gross and at a small fraction of the cost to service.
Ask for actual figures for both, from comparable units in this building, month by month rather than as annual averages. Then decide which business you are in, because the fit-out, the furniture budget and the management arrangement all follow from that choice.
The questions to put to a completed building
Nothing here is unbuilt, so the question shifts from what the projection assumes to what the building’s own records show.
Ask what the CAM rate per square metre is today and what it was three years ago, then apply it to the floor area of the unit you are considering. A rate that has climbed steeply is telling you something, either the opening figure was set low to move units, or something expensive has started to need work.
Ask what is in the sinking fund and against what schedule. Lifts, pumps, roof waterproofing and the common-area air conditioning are the items that generate special assessments, and at the studio end of this building an assessment can equal a meaningful share of a year’s net income.
Ask to read the minutes of the last two owners’ meetings. They are the most candid document in the transaction.
And ask for the foreign freehold quota as a dated figure in remaining square metres, checked against your specific unit rather than the building at large. The 49% is measured by total floor area, not by number of units, and in a completed building the current position is a fact rather than a forecast.
Ownership and letting permissions
A foreigner may hold a condominium unit in freehold within the building’s 49% foreign floor-area allowance. Where the quota for your unit is gone, the offer will be a registered lease: lawful, materially different in resale terms, and something the price should reflect rather than something to discover at transfer.
If you buy freehold, the funds must arrive from abroad in foreign currency and the receiving Thai bank must issue the FET record that the Land Department requires at registration. Arrange it with the bank before the transfer rather than after.
On letting, two permissions are separate and both matter. The Thai Hotel Act treats any stay of under 30 days as hotel business, which an unlicensed building cannot lawfully carry on. Independently of that, the condominium’s house rules can prohibit short lets outright. Ask for both answers in writing before a deposit, because between them they determine whether the nightly model is available to you at all.
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Phuket Real Estate Experts
The MORE Group team has helped 500+ European and American buyers purchase property in Thailand. We provide legal support, 0% commission, and on-the-ground expertise with 8 years in the Phuket market.
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