Koh Samui Rental Price Index 2023

Table of Contents

• Brief History of Koh Samui Housing Market 2023
• Koh Samui Rental Price Trends in Q2-Q3 2023
• Koh Samui Rental Price Trends in Q2-Q3 2022
  • A Comparative Analysis of Q2 and Q3 Trends in 2022 and 2023
  • Demand Trends in Koh Samui 2023
  • Factors Influencing Rental Prices
• Current Rental Price Data
  • Condo Month-on-Month Growth Comparison
  • Villa Month-on-Month Growth Comparison
• Popular Areas to Rent Koh Samui Property
  • Bo Phut
  • Maret
  • Maenam
• Future Projections and Trends
• Homeowners Vs. Tenants: What to Do?
• Koh Samui Rentals Await!

Koh Samui housing market is buzzing right now. The market saw dynamic shifts in rental prices across various property types from January to August 2023. FazWaz gathers data on villas and condos in Koh Samui giving renters and landlords a clear picture of the market. The information helps renters identify the best times to secure favorable rent deals. Understanding rental price trends is crucial for renters seeking a place to call home and landlords looking to invest or rent out their properties as it helps in making informed decisions in Koh Samui real estate market. With growing numbers of renters in Koh Samui we recommend you stay updated with the latest market trends because it is more important than ever. Down below we provide you with insightful, updated analyses and breakdowns to navigate this vibrant market landscape.

Brief History of Koh Samui Housing Market 2023

Koh Samui rental market saw some intriguing shifts from 2018 to 2022. Villas consistently held their ground with their allure of space and privacy, making up around 45% of the market throughout these years. On the other hand, townhouses gained traction starting at 30% in 2018 and climbing steadily to reach 38% by 2022. Condos as a smaller segment increased between 6% and 8% reflecting a niche yet stable demand.

Zooming into 2023, the trends are distinctly evident. Houses including townhouses, command 57.9% of the market. Meanwhile, condos combined with penthouses represent a significant 42.1%.

Several dynamics have been at play here. The boom in tourism with the upcoming winter holidays will naturally drive up short-term rental prices especially for villas catering to travelers seeking luxury stays for up to three months. Improved infrastructure from better roads to enhanced amenities bolsters the appeal of townhouses, especially among those eyeing longer-term residencies. Besides, Koh Samui's economy is steadily growing, attracting foreign investments. Even though the condo segment is smaller, it remains strong. Many tenants come to the area for its modern and compact living spaces for their stay.

Koh Samui Rental Price Trends in Q2-Q3 2023

In Q2 2023, rental market in Koh Samui displayed various options for condos and villas. Condos, primarily located in Bo Phut, ranged from studio to two-bedroom units with prices between THB 15,000 and THB 170,000 per month. Replay Residence & Pool Villa stands out, offering a 3-bedroom condo with comprehensive amenities. On average, condos present a  median rental price of THB 61,187.50 per month. On the villa front, prices fluctuated between THB 15,000 and a substantial THB 400,000 per month. Villas ranging from 2 to 4 bedrooms boasted features of an infinity pool, fully equipped kitchen, and provided breathtaking sea views. The average median price for villas settled at THB 182,441.17 per month.

Transitioning to Q3 2023, condo market covered areas like Maenam and Maret, in addition to Bo Phut. Prices range from THB 11,000 to THB 175,000 per month for condos from 1-bedroom units to 3-bedroom penthouses.  Most condos are primarily in prime locations offering fantastic Chaweng Beach view. The average median rental price for condos during quarter three was THB 51,285.10 per month marking a decrease of around 16% from the previous quarter. Houses, on the other hand, presented a broader price spectrum, from THB 15,000 to a staggering THB 3,500,000 per month. These houses and villas, ranging from 1 to 5 bedrooms, had a median rental price of THB 149,255.94 per month.

Koh Samui Rental Price Trends in Q2-Q3 2022

Samui property rental prices in the Q2 2022 showcased a wide variety. The overall average median rental price for all properties stood at THB 116,233.62 per month, with prices from THB 12,000 to a whopping THB 499,000 per month. When we break this down, condos had an average price of THB 101,588.23 per month ranging from 1 to 3 bedrooms. They offer stunning views and complete amenities with prices starting from THB 15,000 to THB 499,000 per month. On the other hand, houses, specifically 1 to 5 bedroom villas, boasted features like private pools, outdoor salas, and full western kitchens. Their average rental price was slightly higher at THB 106,981.90 per month with prices ranging from THB 12,000 to THB 471,000 per month.

Moving into Q3 2022, there was a noticeable shift in the rental landscape. The average median rental price for all properties dropped to THB 27,571.42 per month. Condos, ranging from 1 to 3 bedrooms, had an average price of THB 75,250 per month, with their prices set between THB 28,000 and THB 100,000. However, villas saw a broader range in pricing. They comprise 1 to 6 bedroom villas, many of which offered panoramic sea views, had prices ranging from THB 15,000 to THB 460,000. The average median rental price for these villas settled at THB 19,852.94 per month.

Although Q2 2022 saw higher rental prices, especially for condos, Q3 2022 experienced a significant dip in the average median rental prices for condos and villas. The trend suggests potential seasonal fluctuations or market adjustments in the Koh Samui rental market.

A Comparative Analysis of Q2 and Q3 Trends in 2022 and 2023

In 2022, the average median rental price for all properties in Q2 was THB 116,233.62 per month, which sharply declined about 76% to THB 27,571.42 in Q3. Specifically, condos decreased from THB 101,588.23 in Q2 to THB 75,250 in Q3, marking a drop of approximately 26%. Houses, on the other hand, had a less pronounced decline from THB 106,981.90 in Q2 to THB 19,852.94 in Q3, which is an 81% reduction.

Comparing this to 2023, the average median rental price for condos in Q2 was THB 61,187.50, which decreased by roughly 16% to THB 51,285.10 in Q3. Villas in 2023 had an average median price of THB 182,441.17 in Q2, but villas in Q3 had a median price of THB 149,255.94 indicating an 18% decrease. This comparative data suggests that while both years saw a decline from Q2 to Q3, the drop in 2022 was more dramatic than in 2023.

Demand Trends in Koh Samui 2023

In 2023, the demand trends in Koh Samui, by FazWaz, reveal a dynamic real estate market. A total of 248 villas and 68 condos have been the focal point of property deals, boasting an average median rental price of 527,336.37 Thai Baht per month in 2023. Properties cater to a diverse range of tenant needs with 40% of tenants seeking holiday homes, 27% for personal use, and 15% viewing them as investment opportunities.

During Q2 2023, the total lead value in Koh Samui reached an impressive 1,340,519,213 Thai Baht, averaging 6,636,233.73 Thai Baht for all properties. High demand was seen for 142 villas ranging from 1 to 12 bedrooms, with monthly rental prices from THB 8,000 to THB 111,606,000, catering primarily to holiday home seekers. Condos followed closely with 41 leads, offering 1 to 3-bedroom units at an average monthly price of THB 52,375.49, also popular among holiday renters. 

In Q3 2023, demand trends showcased the rental of 218 properties with an emphasis on villas and condos. Among these rentals, over 100 units were villas and 29 were condos. The average rental price for condos during this period was approximately 84,807.37 Thai Baht encompassing a range of 1-bedroom to 3-bedroom units. Villas, on the other hand, featured a median rental price of 57,450.43 Thai Baht, offering a diverse array of options from 1-bedroom retreats to spacious 7-bedroom estates. The trend in property rental reflects the diverse preferences of tenants seeking accommodation in the picturesque surroundings of Koh Samui during the third quarter of 2023.

Certainly, you will find condo and villa demographics for both Q2 and Q3 below:

Factors Influencing Rental Prices

What's shaping the rental prices on Koh Samui? Ah, many factors influence Koh Samui rental prices such as seasonal fluctuations, new developments, local regulations, etc. Below are lists of the factors you will understand the rental market dynamics on the island.

• Seasonal Fluctuations: The clear difference in rental prices between Q2 and Q3 in both 2022 and 2023  comes from seasonal fluctuations. Koh Samui, being a prime tourist destination, sees heightened demand during peak tourist seasons, pushing rental prices up. Conversely, during off-peak seasons, the demand drops, leading to reduced rental rates. The cyclical pattern is evident in the significant price reductions observed in the third quarter of both years.
  
  
• New Developments: The introduction of new properties have a direct impact on rental prices. For instance, new developments in 2023 might present more upscale amenities or increase the supply of rental properties leading to competitive pricing. As these new properties set new benchmarks, homeowners might adjust their property rates to remain attractive to potential renters. Such developmental shifts in the market directly influenced the varied rates between condos and villas across the years.
  
  
• Local Regulations: Local policies and regulations affect the rental landscape. In 2022, the dramatic drop in prices was influenced by new local regulations favoring short-term rentals or introducing new taxes. Regulatory changes can either incentivize or deter property owners from renting out their spaces, leading to shifts in supply and, consequently, pricing. You're a property owner or a potential tenant; you need to stay updated with regulations to navigate the market effectively.

Current Rental Price Data

At FazWaz we collect data through breakdown of rental prices for condos and villas offering a deep dive into Koh Samui rental market. Our rental price data showcases condo and villa landscapes on Koh Samui. Villas primarily in prime districts like Bo Phut and Maenam, have monthly rates ranging from THB 15,000 for a 1-bedroom to a lavish THB 3,500,000 for a 3-bedroom with a median price of THB 153,067. On the condo front, options vary with prices from THB 11,000 to THB 175,000, and the median rental stands at THB 55,305. Notable developments like Replay Residence Pool Villa boast amenities and fantastic mountain views. Our index gives clear insights for you to rent or be keen on market rates. Below we provide a comprehensive analysis including month-on-month comparisons to guide your rental decisions.

Condo Month-on-Month Growth Comparison

Analyzing the month-on-month growth for rental condos in Koh Samui, we can observe some interesting trends. In April, the average rental price stood at THB 22,000 per month. Moving into May, there was a noticeable increase with the price rising to THB 29,000 per month indicating a growth of approximately 31.82%. The data suggests a positive trajectory for renters, possibly making it an attractive time to secure a rental property.

On the contrary, the most significant surge occurred between May and June where the average rental price skyrocketed to THB 69,153.84 per month. The rental market increase reflects significant growth of about 138.45% possibly influenced by seasonal demand or other factors, highlighting the rental market's dynamic nature.

In contrast, June to July witnessed a notable decrease in rental prices with the average falling to THB 50,438.70 per month. It resulted in a decrease in growth rate, approximately -27.08%. The reasons for price changes depend on various factors affecting the local rental market.  

Moving forward to August, the monthly average rental price for a 1-2 bedroom condo was THB 29,000  with prices ranging from THB 23,000 to THB 35,000. It represents a decrease of about -43.05% from the previous month. September brought another shift in the market. The average rental price for condos with 1-3 bedrooms rose to THB 68,975 per month. This indicates a staggering increase of approximately 137.85% from August.

Fluctuations in the market present opportunities and considerations for renters and landlords emphasizing staying informed in this dynamic Koh Samui condo rental landscape.

Villa Month-on-Month Growth Comparison

Villas on Koh Samui saw a dynamic shift in rental prices over the past few months. In April, the average rental price for 1-3 bedroom villas stood at THB 60,000 per month. By May, it significantly jumped over 114% with the average rental price listed at THB 128,571.42 for 1-bedroom to 3-bedroom villas. June observed another substantial increase with the average price reaching THB 207,320, a growth of approximately 61%. Notably, most villas were located in Bo Phut with a 5-bedroom villa at Samui Bayside Luxury Villas priced at a whopping THB 400,000 per month, boasting mesmerizing sea views.

However, July slightly dropped about 27% in the monthly average rental price settling at THB 150,362.55. These villas ranged from 1-bedroom to 6-bedroom villas in prime locations such as Bo Phut, Maret, Maenam, and Ang Thong. The most luxurious villa was a 5-bedroom villa priced at THB 800,000 per month offering complete amenities and a breathtaking sea view. August saw a further decrease of roughly 10% with the average rental price at THB 135,108.97 per month. The most expensive villa that month was a luxury beachfront property in Ang Thong, priced at an astounding THB 1,350,000 per month.

September marked a resurgence in the average rental price, which climbed to THB 221,714.28, reflecting a growth of about 64% from August. These villas ranged from 2-6 bedrooms, showcasing the continued demand for luxury accommodations on Koh Samui.

Popular Areas to Rent Koh Samui Property

Many locations in Samui are sought-after for property rentals, yet Bo Phut, Maret, and Mae Nam stand out as the top three favorites. They gained significant attention from renters for various reasons. Below you will find what makes them the most popular choices for renting condos and villas in Koh Samui.

Bo Phut

Bo Phut stands as the premier and most densely populated location for property rentals in Koh Samui. Its allure extends far and wide drawing tenants from Europe, North America, and Asia. However, Russians find Bo Phut most captivating, followed by tenants from the UK and France. They like houses over condos because of spaciousness, privacy, and the serene atmosphere matching those seeking a comfortable, home-like environment. 

The median rental price stands at a reasonable THB 103,636.36 with a cost of approximately THB 548.18 per square meter. Bo Phut, therefore, continues to be a top choice for renters looking for perfect tranquility and convenience blends on the stunning island of Koh Samui.

Maret

Maret comes in as the second most popular location for renting villas, right after Bo Phut. It has a diverse tenant mix attracting individuals from Denmark, Russia, and the UK. Surprisingly, the average rental prices for villas are consistent among these nationalities. Russian tenants, in particular, lean towards larger accommodations, often opting for spacious 2-bedroom villas that come with a monthly price tag of THB 120,000. On the other hand, Danish tenants tend to prefer smaller, more budget-friendly options typically favoring 1-bedroom villas at around THB 70,000 per month. Lastly, tenants from the UK find a middle ground with a monthly rent of approximately THB 55,000 for 2-bedroom villas.

The most sought-after villas in Maret generally feature 4 bedrooms. The median monthly rental price in this area hovers around THB 87,500 making it an attractive destination for villa rentals on Koh Samui.

Maenam

Maenam stands out as another highly favored location for property rentals, following in the footsteps of Bo Phut and Maret. Notably, Danish tenants show a keen interest in the Maenam area particularly for 3-bedroom villas. The median monthly rental price for these villas in Maenam is approximately THB 80,000 offering a comfortable and affordable living option.

The price per square meter averages around THB 320 in this area. Attractive rental rates and a tranquil setting make Mae Nam an increasingly popular choice for those seeking quality rental properties on the picturesque island of Samui.

Future Projections and Trends

As we look ahead, several indicators suggest Koh Samui rental market will continue to evolve. Based on the current trends and the island growing popularity, we can make some educated projections:

• Villas: The allure of space and privacy that villas offer is expected to remain strong. Given the consistent growth in demand, especially from international tenants, we project a 10-15% increase in the median rental price for villas over the next year. By the end of 2024, the average median rental price for villas could range between THB 165,000 to THB 175,000 per month.
  
  
• Condos: Condos will likely maintain their niche appeal with the steady influx of short-term tenants and tourists. The modern amenities and strategic locations, especially those with beach views, will continue to attract renters. We anticipate a more modest growth for condos, around 5-8%. By the end of 2024, the average median rental price for condos might hover around THB 58,000 to THB 60,000 per month.

Homeowners Vs. Tenants: What to Do?

As homeowners on Samui Island, you should ensure your property stands out in the bustling rental market. For example, ensuring your property is in pristine condition; think about renovations or upgrades particularly in key areas like the kitchen, bathroom, and outdoor spaces. Modern amenities also significantly elevate your property's appeal allowing you to command higher rental prices. Given Samui's seasonal rental fluctuations, it's wise to offer flexible rental terms. You can appeal to a wider tenant base and ensure consistent occupancy throughout the year by providing short-term and long-term lease options. Besides, you always stay updated on the latest market trends. Adjusting your rental prices in line with market dynamics and ensuring your property offers competitive value will keep it attractive to potential renters.

If you're a tenant eyeing the vibrant Samui rental landscape, navigating dynamic opportunities and challenges is key. You can negotiate. In Samui, prices often change with the seasons. During the low season, you will find better deals; always talk to landlords about terms and prices to get the best deal. It's essential to compare amenities, views, and accessibility to ensure you're getting the best bang for your buck with prices varying widely based on location. And if Samui is starting to feel like a long-term home, consider diving into extended rental agreements. These often come with a more attractive price tag than their short-term counterparts, giving you both stability and value.

Koh Samui Rentals Await!

Koh Samui housing market experiences significant shifts in 2023 based on FazWaz collected data providing invaluable trends on rental prices for condos and villas. Several factors in shaping rental prices including seasonal fluctuations, new developments, and local regulations are important. For homeowners maintaining properties and offering flexible rental terms can maximize returns while tenants should negotiate and research to secure the best deals. Regarding the continuous growth of Samui, staying updated with market trends is crucial for both parties to make informed decisions.

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