Based on listings and transaction records we have monitored since 2022, the average time-on-market for a resale condo in Phuket runs between 6 and 14 months as of Q1 2026. On Koh Samui that window stretches to 8-18 months, depending on price bracket and ownership structure. These are figures most sellers encounter only after listing, when expectations meet actual buyer demand.
Our analysts track listing exposure times and compare asking prices against recorded transaction prices. The data consistently show that secondary-market liquidity in Thailand is segmented: it varies by price, legal structure, and location. Any investor who plans to exit eventually should understand these parameters before committing to a purchase, not after.
Below we break liquidity down by segment, work through the exit mathematics across different holding periods, and identify the market conditions that favour sellers.
Quick answer
- Freehold condo under USD 200k on Phuket: indicative resale time 6-10 months; typical discount from asking price 5-12% (based on our observations, 2026)
- Premium condo above USD 300k: time on market 10-18 months; discount 8-15%
- Leasehold villas or Thai-company structures: time on market 12-24 months; discount frequently 10-20%
- Koh Samui is roughly 30-40% slower than Phuket in average resale time across comparable segments
- Off-plan contract assignment before handover can compress the process to 2-6 months, but requires developer consent and typically carries a transfer fee of 1-3% of the contract value
- Total exit transaction costs (taxes, fees, agent commission) absorb approximately 4-8% of the sale price
Options and scenarios
Segment 1: freehold condo under USD 200k - Phuket
This is the most liquid category on the Phuket secondary market. Buyers are predominantly foreign nationals seeking ready-to-occupy units in Bang Tao, Kamala, and Surin. Demand is supported by a growing base of long-stay tourists and remote workers. As of Q1 2026, our analysts are recording an increase in enquiries for one-bedroom units priced between USD 100k and USD 150k.
Indicative time on market: 6-10 months. Transaction discount from asking price: 5-12%. Units with a documented rental history showing net yields above 5% tend to sell toward the lower end of that range.
Segment 2: premium condo above USD 300k
Locations such as Layan, Surin, and the coastal stretch of Kamala attract wealthier buyers, but the buyer pool is proportionally smaller. Based on our estimates, units in this segment on Phuket require 10-18 months to find a buyer. On Koh Samui (Bophut, Chaweng Noi) the range extends to 14-22 months.
Discount from listing price: 8-15%. Sellers who are unwilling to negotiate can find their listing sitting for over two years.
Segment 3: leasehold villas and Thai-company structures
This is the most difficult segment to liquidate. Prospective buyers must fully understand the legal structure - whether that is a 30+30+30-year leasehold or equity held through a Thai company - which immediately narrows the interested pool. We monitor villa listings in Rawai, Nai Harn, and Maenam where time on market regularly reaches 12-24 months and discounts from asking price run at 10-20%.
An additional complication is financing: Thai banks do not extend mortgage credit to foreign buyers, so every transaction must be conducted in cash. That eliminates a substantial portion of potential purchasers from the outset.
Segment 4: off-plan contract assignment
This is a separate exit route. The original buyer assigns their rights under the developer contract to a new purchaser before the keys are handed over. Completion time: 2-6 months, provided the developer agrees - which is not guaranteed. Many developer contracts include an anti-assignment clause or impose a transfer fee of 1-3% of the contract price.
Based on our on-the-ground verification, approximately 60-70% of new projects on Phuket in 2025-2026 do permit assignment, though the terms are negotiated case by case. On Koh Samui we estimate that proportion at 40-50%.
Comparison table
| Parameter | Freehold condo under USD 200k | Premium condo USD 300k+ | Leasehold villa / Thai company | Off-plan assignment |
|---|---|---|---|---|
| Time on market - Phuket | 6-10 months | 10-18 months | 12-24 months | 2-6 months |
| Time on market - Koh Samui | 8-14 months | 14-22 months | 16-28 months | 3-8 months |
| Discount from asking price | 5-12% | 8-15% | 10-20% | 0-5% |
| Total exit costs | 4-7% | 5-8% | 5-8% | 1-3% (assignment fee) |
| Typical buyer profile | Foreign national, investor | Wealthy foreign national | Market-experienced foreign buyer | Investor, assignment trader |
| Primary liquidity barrier | Supply from new off-plan projects | Narrow buyer pool | Legal structure complexity | Developer consent required |
Exit mathematics: illustrative scenarios for a Phuket condo
Consider a freehold condo in Bang Tao purchased at THB 5,000,000 (approximately USD 139,000 at THB 36/USD, as of Q1 2026). Annual net rental income: 5.5%, equal to THB 275,000. Exit transaction costs: agent commission 3%, specific business tax 3.3%, official transfer fees 0.5% - totalling approximately 6.8% of the sale price.
Scenario A: sale after 3 years, exit price equals purchase price (0% capital appreciation)
- Cumulative rental income: 3 x THB 275,000 = THB 825,000
- Exit costs: THB 5,000,000 x 6.8% = THB 340,000
- Net result: THB 825,000 - THB 340,000 = THB 485,000
- Simplified annual return: THB 485,000 / THB 5,000,000 / 3 = 3.2% per year
Scenario B: sale after 5 years, 10% capital appreciation
- Exit price: THB 5,500,000
- Cumulative rental income: 5 x THB 275,000 = THB 1,375,000
- Capital gain: THB 500,000
- Exit costs: THB 5,500,000 x 6.8% = THB 374,000
- Net result: THB 1,375,000 + THB 500,000 - THB 374,000 = THB 1,501,000
- Annual return: 6.0% per year
Scenario C: sale after 10 years, 25% capital appreciation
- Exit price: THB 6,250,000
- Cumulative rental income: 10 x THB 275,000 = THB 2,750,000
- Capital gain: THB 1,250,000
- Exit costs: THB 6,250,000 x 6.8% = THB 425,000
- Net result: THB 2,750,000 + THB 1,250,000 - THB 425,000 = THB 3,575,000
- Annual return: 7.2% per year
The takeaway from these scenarios is consistent: exit transaction costs weigh most heavily on short holding periods. A three-year hold with no price appreciation delivers a return that is modest relative to the risk. A 7-10 year horizon allows those costs to be amortised across rental income and any capital growth that materialises.
One structural note on taxation: the specific business tax (SBT) of 3.3% applies to properties sold within five years of acquisition. After five years it is replaced by stamp duty at 0.5%, which materially reduces total exit costs and is one reason the mathematics improve so sharply beyond the five-year mark.
Timing: when market conditions favour sellers
Drawing on data we have collected since 2022, our analysts identify three conditions that support faster resales at tighter discounts.
- High season (November to March): buyer activity on both Phuket and Koh Samui peaks during this window. We observe that roughly 55-60% of annual secondary-market transactions close in this period. A listing should be active by September at the latest to capture peak interest
- Off-plan supply cycle: when a large volume of new off-plan launches enters the market (as we observed in Bang Tao and Layan on Phuket through 2025-2026) the secondary market loses relative attractiveness because buyers gravitate toward new product at developer prices. The optimal secondary-market window tends to follow the end of a major launch wave, when developer sales activity quietens
- THB exchange rate: a weaker baht (above THB 38 per USD) increases the purchasing power of foreign buyers and accelerates transactions. As of March 2026, the rate is oscillating around THB 35-36 per USD, which our analysts characterise as neutral for buyer urgency
Risks and mistakes
- Overpriced initial listing: the most common error we observe. Sellers anchor to portal asking prices, which do not reflect transaction prices. Based on our data, the gap between listed and transacted prices averages 8-12% on Phuket
- No rental documentation: investor buyers expect verifiable yield history. A property with no rental record typically commands 5-10% less in the eyes of a purchasing investor
- Unresolved legal structure: villas held in Thai company structures with outdated accounts, outstanding fees, or unclear shareholder composition can be effectively unsaleable. Our team verifies such cases on the ground on a regular basis
- Underestimating exit costs: as noted above, the specific business tax of 3.3% applies to sales within five years. Sellers who overlook this frequently miscalculate their net proceeds
- Currency conversion timing: a sale denominated in THB converted to a home currency at an unfavourable moment can reduce the real return by 3-8% relative to the purchase date. Our data show that THB fluctuation against major currencies ranged approximately 15% over 2022-2026
- Ignoring assignment restrictions: attempting to resell an off-plan contract without prior written developer consent can result in forfeiture of the deposit paid to date
FAQ
How long does it take to sell a condo in Thailand on the secondary market?
Based on our observations as of 2026, a freehold condo under USD 200k on Phuket typically sells within 6-10 months. On Koh Samui the equivalent range is 8-14 months. Leasehold villas require 12-24 months on Phuket and can extend to 28 months on Koh Samui.
What are the typical transaction costs when selling property in Thailand?
Total exit costs run at 4-8% of the sale price, comprising: agent commission (typically 3%), specific business tax at 3.3% if the property is held under five years or stamp duty at 0.5% after five years, transfer fee at 2% (usually split with the buyer), and withholding tax calculated on the assessed or declared value.
Can I resell an off-plan contract before the development completes?
Yes, if the developer contract permits assignment. Based on our on-the-ground data for 2025-2026, approximately 60-70% of Phuket projects allow assignment, while the figure on Koh Samui is closer to 40-50%. The assignment fee is typically 1-3% of the contract value and the process takes 2-6 months.
When is the best time to list a resale property in Phuket?
Our analysts recommend activating a listing by September at the latest to capture the high season from November to March, during which 55-60% of annual secondary-market transactions on both Phuket and Koh Samui are concluded.
What discount from asking price should a seller expect in Thailand?
In the freehold condo segment under USD 200k, typical transaction discounts run 5-12% below asking price. In the premium condo and leasehold villa segments, discounts of 10-20% are common. Portal asking prices are systematically above what transactions actually close at.
Is a leasehold villa harder to sell than a freehold condo?
Consistently, yes. Leasehold structures and Thai company ownership frameworks narrow the buyer pool and extend time on market by 50-100% compared with freehold condos. Transaction discounts are also meaningfully higher in those segments.
How does the Thai baht exchange rate affect resale speed?
A weaker baht (above THB 38 per USD) increases foreign buyer purchasing power and tends to shorten time on market. At the March 2026 rate of approximately THB 35-36 per USD, our analysts assess the exchange rate effect as broadly neutral.
Does a property with documented rental history sell faster?
Yes, in our data sets, units with verified net yields above 5% sell toward the lower bound of their segment's time-on-market range. Investor buyers treat documented income as a valuation anchor, and the absence of rental records typically costs the seller 5-10% of perceived value.
What is the minimum recommended holding period for a Thai condo investment?
Based on our exit-cost modelling, a holding period of at least five years is required for the specific business tax to roll off and for rental income to materially offset transaction costs at both entry and exit. Scenarios with capital appreciation become meaningfully positive from year five onward. Horizons under three years produce returns that rarely justify the transaction-cost burden in our models.
Which Phuket and Koh Samui districts offer the most liquid secondary market?
On Phuket, Bang Tao, Kamala, and Surin show the most consistent buyer activity in the sub-USD 200k freehold segment. On Koh Samui, Bophut generates the most transaction volume in the mid-range condo category, while Chaweng Noi sees activity in the premium bracket, though at longer exposure times.
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