Two Projects, One Brand: Why Price Per Square Meter Differs by a Factor of Two
Brand Ayana Hospitality has launched two residential projects in Thailand under the management of one hotel chain: Ayana Heights Phuket on the west coast and Ayana Heights Seaview Residence in Pattaya. With a similar concept-managed apartments with access to hotel infrastructure and a rental pool program-the difference in price per square meter reaches 95%. A 30 m² apartment in Phuket starts from 8.5 million baht (283 thousand baht/m²), while similar space in Pattaya is available for 4.2 million baht (140 thousand baht/m²). We analyze where this difference is justified by fundamental factors and where you're overpaying only for geography.
Geography and Transport Accessibility: Phuket Loses on Logistics
Ayana Heights Phuket is located in Patong Beach area, 200 meters from the coastline. Phuket International Airport is 45 km away (50-70 minutes by taxi depending on traffic). Direct flights from Moscow are operated by Aeroflot, S7, Thai Airways-flight time 9 hours. Public transport within the island is poorly developed: tuk-tuks cost 200-400 baht per trip, motorbike rental from 2,500 baht/month.
Ayana Heights Seaview Residence in Pattaya stands on Pratumnak Hill, 2.5 km from Walking Street and 15 minutes' drive from U-Tapao Airport. Bangkok is 147 km away via highway (1.5-2 hours by car). Suvarnabhumi Airport accepts more international flights than Phuket, and the new high-speed railway Bangkok-Pattaya (launch planned for end of 2026) will reduce travel time to 45 minutes. Songthaews operate within the city for 10 baht, motorcycle taxis from 30 baht.
In terms of transport accessibility, Pattaya wins: proximity to the capital, cheaper logistics, more flight options via Bangkok.
Price Structure: Breakdown by Unit Types
Ayana Heights Phuket sells studios from 28 m² (from 8.5 million baht), one-bedrooms from 42 m² (from 12.8 million baht) and two-bedrooms from 68 m² (from 20.4 million baht). Average price per square meter-280-300 thousand baht. Developer-Habita Group, the project is positioned as premium segment with views of the Andaman Sea.
Ayana Heights Seaview Residence offers studios from 24 m² (from 3.9 million baht), one-bedrooms from 35 m² (from 5.6 million baht) and two-bedrooms from 52 m² (from 8.2 million baht). Average price-140-160 thousand baht/m². Developer-Heights Holdings, known for projects in Naklua and Pratumnak.
The difference of 140 thousand baht per square meter is explained not only by the brand. Phuket is traditionally more expensive: according to CBRE Thailand for Q1 2026, the median price of new housing on the island was 245 thousand baht/m², in Pattaya-128 thousand baht/m².
Infrastructure and Management: Where the Rental Pool Program Actually Works
Both projects include access to Ayana infrastructure: pools, spa, restaurants, coworking spaces. Owners can rent out apartments through the hotel management company via a rental pool program.
In Phuket, Ayana offers guaranteed returns of 5% per annum for the first three years, provided the apartment is placed in the pool for a minimum of 270 days per year. After the guarantee period, income is split 60/40 in favor of the owner. Average hotel occupancy in Patong in 2025 was 68% (Hospitality Asset Managers Association Thailand data). With a studio price of 8.5 million baht, guaranteed income is 425 thousand baht per year, or 35 thousand baht per month.
In Pattaya, conditions are stricter: no guaranteed returns, only pool participation with 55/45 distribution after deducting operating expenses (about 30% of revenue). Average hotel occupancy in Pattaya in 2025-72%. With a studio for 3.9 million baht and average rental rate of 1,200 baht/night (Airbnb data for March 2026), annual gross income will be about 315 thousand baht. After deducting expenses and commission, the owner will receive 120-140 thousand baht, or 3-3.5% net yield.
In terms of rental pool program, Phuket looks more attractive due to guarantees, but only for the first three years.
Liquidity and Secondary Market: Pattaya Sells Faster
According to DDProperty, Thailand's largest property portal, in March 2026 on Phuket's secondary market there were 1,847 properties listed within 2 km of Patong. Average sale time for a 30-35 m² studio-8-11 months. Discount from original price when reselling is 12-18%.
In Pattaya within the same radius from Pratumnak, 2,134 properties are for sale, but average transaction time is shorter-5-7 months. Discount when reselling-8-12%. Reason: Pattaya has more permanent residents (according to Thailand Immigration Department estimates, about 85 thousand long-term foreign residents versus 22 thousand in Phuket). Demand for secondary market is more stable.
A buyer of a studio in Ayana Heights Pattaya for 3.9 million baht, if necessary, will sell it in six months with a loss of 10-12% (total 3.4-3.5 million baht). In Phuket, a similar transaction will take a year and require a discount of up to 15% from 8.5 million (total 7.2 million).
Taxes and Operating Expenses: Hidden Differences
Annual apartment maintenance costs in both projects include:
- Common Area Fee: in Phuket 55-65 baht/m²/month, in Pattaya 45-50 baht/m²/month.
- Sinking Fund: one-time payment upon purchase, 500 baht/m² in both projects.
- Land and building tax: 0.02-0.1% of cadastral value (usually 20-30% lower than market value).
For a 30 m² studio in Phuket, annual expenses will be about 21 thousand baht (management) + 5 thousand (tax) = 26 thousand baht. In Pattaya for 24 m²-14 thousand + 3 thousand = 17 thousand baht.
If the apartment is in the pool, the management company deducts these expenses before income distribution. But with independent rental, the owner pays themselves.
Target Audience: Who Each Project Suits
Ayana Heights Phuket is oriented toward investors ready to freeze capital for 3-5 years for guaranteed income and ownership status in Phuket. Typical buyer-a family from Russia, China, or Singapore planning to visit 2-3 times a year for 2-4 weeks and keep the apartment in the pool the rest of the time. Average check-12-18 million baht.
Ayana Heights Seaview Residence attracts buyers with smaller budgets, focused on quick payback or personal residence. Typical client-remote worker, retiree, or small investor wanting to diversify portfolio without large investments. Average check-4-7 million baht.
Example: a buyer from Moscow purchased a 28 m² studio in Ayana Phuket for 8.5 million baht in January 2026. With guaranteed returns of 5%, they receive 425 thousand baht per year, or 3.5% after deducting management expenses. Payback-24 years. Alternative: the same amount in Pattaya buys two studios at 4.2 million each, each generating 140 thousand baht per year (total 280 thousand or 3.3% of investment), but liquidity is twice as high.
Legal Nuances: Both Projects on Freehold, but with Caveats
Both projects are sold on Freehold terms (full ownership) for foreigners within the 49% quota. The remaining 51% of units are registered to a Thai company or local citizens.
In Ayana Heights Phuket, the foreign quota is 68% filled as of April 2026. Available studios with sea views are almost all reserved by Chinese and Singaporean buyers. Units without views or on high floors are still available.
In Pattaya, the quota is 41% filled. Choice is wider, negotiation possible: some buyers received 3-5% discount when paying the full amount before construction completion.
Both developers require a 30% deposit upon booking, the rest-in stages during construction. Key handover in Phuket is scheduled for Q3 2027, in Pattaya-Q2 2027.
What This Means for Buyers in Pattaya
For Russian-speaking investors already looking at property on the east coast, comparing the two Ayanas gives three practical conclusions.
First: overpaying for Phuket is justified only if you plan personal use for more than 90 days per year and location prestige is critical. In all other cases, profitability and liquidity in Pattaya are higher.
Second: the rental pool program in Pattaya works worse than in Phuket, but independent rental via Airbnb or Booking gives 4-5% net yield versus 3% in the pool. If you're ready to manage rentals yourself or through a local agency (15-20% commission), Pattaya is more profitable.
Third: with a budget of 8-10 million baht, it makes sense to consider buying two studios in Pattaya instead of one in Phuket. Diversification reduces vacancy risk, and total income will be higher even without guarantees.
For buyers already living in Pattaya or planning to relocate, Ayana Heights Seaview Residence suits as a first investment: low entry threshold, clear location, quick resale if needed. The Phuket project is rather for those building a portfolio of several properties who can afford to freeze capital for brand and guarantees.
Summary Table: Key Indicators of Two Projects
Studio price: Phuket 8.5 million baht, Pattaya 3.9 million baht. Price per m²: Phuket 283 thousand baht, Pattaya 140 thousand baht. Guaranteed returns: Phuket 5% for 3 years, Pattaya none. Net yield after expenses: Phuket 3.5%, Pattaya 3.2% in pool or 4.5% with independent rental. Average sale time on secondary market: Phuket 8-11 months, Pattaya 5-7 months. Discount when reselling: Phuket 12-18%, Pattaya 8-12%.
Common area fee: Phuket 55-65 baht/m²/month, Pattaya 45-50 baht/m²/month. Distance to airport: Phuket 45 km, Pattaya 15 km. Foreign quota filled: Phuket 68%, Pattaya 41%. Completion date: Phuket Q3 2027, Pattaya Q2 2027.
By all parameters except location prestige and guaranteed income in the first years, Pattaya wins over Phuket. The price difference is not compensated by differences in yield or value growth: according to CBRE, average price growth for new construction in Phuket in 2023-2025 was 4.2% per annum, in Pattaya-3.8%. A spread of 0.4% doesn't cover the twofold overpayment per square meter.
