Rental in 2027: what to expect for buyer of new construction in Thailand

Purchase of new construction on Phuket is not just investment in square meters. This is bet on future: modern projects in promising locations, flexible payment terms, potential of price growth by time of delivery. But this medal has also reverse side: risk of freeze of construction, discrepancy of reality to promises of developer, legal nuances that emerge already after occupancy.

Choice of new construction on Phuket requires systematic approach: it is necessary to understand who is developer, what is his reputation, how project is financed, what is written in contract and what will happen if deadlines shift. Harmony Ocean Property under leadership of Vladimir Mironov helps investors to go through this path without risks — from selection of object to legal support and registration of ownership right.

Developers on Phuket: whom to trust and how to check deadlines

Market of new construction of Phuket continues to grow, but far from all projects are delivered in promised time. According to assessments of experts, in 2024–2025 15–20% of objects shifted date of completion of construction by 3–9 months. This is not always critical, if contract specifies responsibility of developer and provides penalties for delay. However for investor delay is not only waiting, but also lost rental income and frozen capital.

When choosing developer in Thailand it is important to analyze not only beautiful renders and presentations, but also his reputation, history of completed projects and conditions of contract. Presence of clause on penalty for failure of deadlines is good sign, but not guarantee. Best protection is comprehensive check of object and developer before signing of contract.

Harmony Ocean Property accompanies transactions with new construction on Phuket: we check developer, analyze conditions of contract, control deadlines and legal purity of object. So that your investments do not depend on «force majeure» and promises of seller.

15–20% of projects shifted delivery by 3–9 months in 2024–2025. Normal, if there are penalties in contract.

Reasons for delays

• Supplies of materials
• Inspections and regulations
• Shortage of workers
• Adjustment of project

Contract

Date + penalty/day. Final tranche after act. List of defects at transfer.

After keys

2–4 months before first booking: furniture, photos, listings. Do not count income from day 1.

To buyer of off-plan

Ask stage of construction today and penalties for failure. Quarterly photo report disciplines both sides.

Keys to vacation “as in booklet” without reserve of 6 months — frequent reason of disappointment.

Realistic deadlines in 2026–2027

According to our practice 15–20% of projects on Phuket shifted delivery by 3–9 months in 2024–2025. Reasons: supplies of materials, inspections, shortage of qualified workers, adjustments of project. This is not catastrophe, if contract specifies penalties and clear procedure of acceptance.

What should be in contract

• Specific date of delivery + penalty for each day of delay
• Conditions of final tranche — after acceptance act, not “by fact of promise”
• List of defects at transfer and deadlines for elimination
• Who pays for finishing modifications outside specification

From keys to first booking

Even ready apartment does not bring income from first day. Allocate 2–4 months: furnishing for rent, photo session, listings on OTA, setup of management company, first reviews. Clients who plan vacation «immediately after keys» often get disappointed — allocate reserve of six months.

Questions to buyer of off-plan

• At what stage is construction today — not on render
• What penalties for failure of deadline
• Is there already management company and tariffs
• Is it possible to visit construction site before signing

Keys to vacation “as in booklet” without reserve of 6 months — frequent reason of disappointment.

Acceptance of apartment or villa

We check finishing according to specification: tiles, plumbing, windows, air conditioners, electrical. We record defects in act — scratches, chips, non-working sockets. Developer usually gives 30–90 days for elimination. Do not sign «everything is accepted» without inspection.

Furnishing for rent

Basic package from developer rarely ready for listing. Allocate 300–800 thousand baht for refinement of furniture, textiles, kitchen and photo session depending on class of object.

How we help

We track stages for projects, remind about tranches, organize acceptance with check-list of defects. If delivery shifts — we verify with contract and achieve compliance with penalty.

Conclusion

Purchase of new construction on Phuket is profitable instrument for preservation and increase of capital, but requires competent approach. It is important to understand real terms, check developer and conditions of contract, allocate budget for furnishing and not expect income immediately after keys.

Harmony Ocean Property helps to go through all stages: from selection of object to acceptance and registration of ownership. Vladimir Mironov, head of company, personally controls each transaction, so that your investments bring stable income and do not depend on force majeure of construction.

Order consultation on selection of new construction on Phuket — we will select project for your budget and goals.