🏢 The ONLY 4 Approved Projects (Updated Feb 2026)

Program Basics:

• Minimum ฿3M investment (way lower than elite visa!)
• Initial stay: 12-15 months, 100% renewable annually
• No border runs, legitimate residency
• Phuket only (pilot program with just 4 approved developments)

The 4 Approved Sansiri Projects:

1. THE BASE Bukit – Phuket Town (฿2.88M-6.93M) 🏙️
Status: COMPLETED – Move in now
This is your practical play. Located in central Phuket Town, walkable to Central Phuket and Makro. Not sexy, not beachfront, but delivers year-round local rental demand from hospital staff, teachers, and professionals. Units from 25-55 sqm. The lowest entry point into the program, and honestly? The most sensible for pure ROI. Less seasonal volatility, stable tenants, actual walkability (rare in Phuket). If you want the visa without betting on tourism cycles, this is it. 🎯

2. THE BASE Cherng Talay (฿4.63M-8.74M) 🌴
Status: Off-plan, completing August 2026
Mid-market sweet spot in central Cherng Talay, walkable to Boat Avenue and Porto de Phuket. Pet-friendly (complete with pet park!), designed for long-term expat rentals and digital nomads. Units 27-63 sqm, all fully furnished. This targets the exact demographic that wants to stay 1-6 months—remote workers, corporate relocations, families between homes. Higher rental rates than annual leases, lower turnover than STRs. Smart positioning. 💻

3. Canvas Cherng Talay (฿7.3M-16M) 🏊
Status: Under construction, completing Q1 2026
Premium play with larger layouts (39-105 sqm). Sansiri's first Phuket condo specifically designed for foreign buyers. Resort-level facilities including golf simulator, multiple pools, rooftop BBQ. This targets families and high-end long-stay residents who want space and amenities. Higher price point but also targeting wealthier tenants willing to pay premium rents. Near Laguna area with strong family appeal. 👨‍👩‍👧

4. Rhea by Sansiri – Surin (฿4.4M-10.2M+) 🏖️
Status: Off-plan, construction starts May 2026, completes Nov 2027
The lifestyle investment. Walkable to Surin Beach (scarcity location), low-rise, pet-friendly. This is NOT about maximizing yields—it's about living in one of Phuket's most desirable beach areas while securing your visa. If your goal is lifestyle first, investment second, and you can wait until 2027, Rhea delivers the beach-adjacent living that most people dream about when they think "Thailand property." 🌅

💡 Which Project Makes Sense for YOU?

If you want immediate occupancy + stable returns:
THE BASE Bukit (completed). Move in tomorrow, rent it out next week. Boring but profitable. City location means year-round demand without tourism seasonality. ✅

If you're targeting expat/digital nomad rentals:
THE BASE Cherng Talay (Aug 2026). Purpose-built for medium-term stays (1-6 months), walkable location, pet-friendly. This demographic pays 20-40% above standard lease rates and causes minimal drama. 💻

If you want premium lifestyle + family appeal:
Canvas Cherng Talay (Q1 2026). Larger layouts, resort facilities, higher-end positioning. You're paying more but targeting wealthier tenants and families who stay longer. 👨‍👩‍👧‍👦

If beach lifestyle is non-negotiable:
Rhea Surin (Nov 2027). Walkable to one of Phuket's best beaches. You'll wait longer and pay more, but you're buying into genuine scarcity. Surin rarely gets new supply. This is the "life goals" purchase. 🏖️

The Real Decision: All 4 qualify for the visa program. The question isn't "which one gets me the visa?" (they all do). The question is "which investment strategy aligns with my actual goals—cash flow, lifestyle, appreciation, or a mix?" 🎯

Want the detailed breakdown on which project suits YOUR situation?WhatsApp our Phuket specialists who've actually toured all 4 developments and can walk you through the real pros/cons. Or fill out our contact form and we'll send you the complete investment analysis with actual rental comps and appreciation projections. The full program guide is in our blog post here. 📋

💸 The Costs Everyone Forgets About

1. Currency Conversion Fees (0.5-2% each transaction)
Every time you transfer money internationally to pay for your property, pay maintenance fees, or receive rental income, you're getting hit with conversion costs. On a $500k property purchase, that's $2,500-$10,000 just disappearing into bank fees. Over 10 years of ownership with regular transfers? Can easily add up to $20-50k. Use services like Wise or OFX instead of traditional banks to minimize this. 💱

2. Tax Compliance in Two Countries (varies wildly)
You might owe taxes on rental income in BOTH the country where the property is located AND your home country (depending on tax treaties). Getting this wrong can cost you penalties, interest, and serious headaches. Budget $1-3k annually for professional cross-border tax advice. Not sexy, but way cheaper than an audit. 📋

3. Property Management from Abroad (10-20% of rent)
Managing a property from another country without local help is basically impossible. Good property managers charge 10-15%, mediocre ones charge 8-10%, and cheap ones charge 5-8% before disappearing when issues arise. Pay for quality here—it's not optional. 🏠

4. Legal & Setup Costs (1-3% of purchase price)
Foreign buyers often need special legal structures (Thai company for land, Vietnamese leasehold agreements, Philippine condo corporations, etc.). Setting these up properly costs $2-15k depending on complexity. Lawyers, notaries, documentation, translation—it adds up fast. 📄

5. Currency Risk (potentially huge)
If you buy a Thai property for ฿20 million when USD/THB is at 33, you're paying ~$606k. If the baht strengthens to 30, your property needs to appreciate 10% just to break even in dollar terms. Currency fluctuations can make or break your returns. Some investors hedge this risk; most just hope for the best. 📊

6. Travel Costs for Property Visits (don't forget these!)
You'll need to visit your property periodically—initial purchase, inspections, dealing with issues, checking on renovations. Budget at least 1-2 trips per year at $1-3k per trip. Over a decade of ownership? That's another $10-30k that nobody mentions in the brochures. ✈️

💡 How to Build a Portfolio Without Perfect Market Timing

Here's a wealth-building technique borrowed from stock market investing that almost nobody applies to real estate: dollar-cost averaging through staggered entry. Instead of trying to time the perfect market bottom (spoiler: you can't), you systematically build your portfolio over time. 🎯

How It Works:

Let's say you have $500k to deploy into Southeast Asian property over the next 2-3 years. Instead of dropping it all in one market at one time, you:

• Year 1: Buy Property #1 in Thailand ($150-200k) when you see a good opportunity
• Year 1-2: Buy Property #2 in Malaysia ($150-200k) when market timing looks right
• Year 2-3: Buy Property #3 in Vietnam or Philippines ($150-200k) when fundamentals improve

Why This Beats Going All-In:

1. Market Timing Risk Mitigation
If you bought everything in Bangkok in early 2023 and the market cooled in 2024, you're sitting on paper losses across your entire portfolio. With staggered entry, you're buying into different markets at different times, smoothing out the peaks and valleys. 📈

2. Learning While Doing
Your first property teaches you lessons. Your second property benefits from those lessons. Your third property reflects mastery. If you buy everything at once, you're making rookie mistakes across multiple properties simultaneously. Expensive education. 📚

3. Cash Flow Compounding
Property #1 starts generating rental income. You use that cash flow to help fund Property #2's down payment. Properties #1 and #2's combined cash flow helps with Property #3. You're using your portfolio to fund itself. 💰

4. Geographic Diversification
Thailand's market cooling while Vietnam's heating up? Malaysia's rates increasing while Philippines' rates hold? You're not overexposed to any single country's policy decisions, economic cycles, or currency movements. 🌏

5. Psychological Benefit
You're not paralyzed trying to pick the perfect moment. You have a plan, you execute systematically, and you build wealth while others are still "waiting for the right time" (which never comes). 🧠

The Southeast Asia Twist:

This strategy works especially well in this region because:

• Markets move at different speeds (Thailand peaks while Malaysia dips, etc.)
• Entry points vary widely ($50k studios to $500k villas)
• Rental yields differ by market (hedge your income sources)
• Currency fluctuations across multiple countries smooth out
• Regulatory changes hit markets at different times

Example 3-Year Plan:

Q1 2026: Buy 1-bed condo in Bangkok for ฿5M ($145k). Rent for ฿20k/month. Net cash flow: ฿5-7k/month.
Q3 2026: Buy 2-bed condo in Penang for RM500k ($110k). Rent for RM2.5k/month. Net cash flow: RM800-1k/month.
Q2 2027: Buy 1-bed condo in Ho Chi Minh for $120k. Rent for $900/month. Net cash flow: $300-400/month.
Q4 2027: Buy studio in Manila BGC for PHP 8M ($140k). Rent for PHP 55k/month. Net cash flow: PHP 15-20k/month.

End Result by 2028:

• 4 properties across 4 countries
• Total invested: ~$515-550k
• Combined monthly cash flow: $800-1,200 (after ALL expenses)
• Geographic diversification across markets
• Experience in 4 different property ecosystems
• Portfolio positioned to benefit from any market heating up

The Key: Set your timeline, stick to your system, and don't get emotional about individual market movements. You're building a portfolio, not trying to hit home runs. Base hits that compound win the game. ⚾

🏆 Price Appreciation Leaders (YoY):

• Johor Bahru iskandar: +14% (RTS anticipation)
• Bangkok Eastern Corridor: +11% (EEC investment)
• Hanoi Tay Ho District: +9% (expat demand surge)
• Manila BGC: +7% (office return driving rentals)

💰 Best Current Rental Yields (Gross):

• Chiang Mai Old City: 7.5-9%
• Penang Island: 6.5-8%
• Phuket Rawai: 7-8.5%
• Cebu IT Park Area: 6.5-7.5%

🎯 Most Searched Markets (This Week):

• Bangkok Sukhumvit: +38% inquiry volume
• Phuket (all areas): +31%
• Penang Georgetown: +24%
• HCMC District 2: +22%

📉 Markets Taking a Breather:

• Singapore prime condos: Transaction volume -15% vs. Q4 2025
• Bali Canggu: Prices flat to slightly down amid regulatory concerns
• KL City Center: Holding steady but not growing

✅ The Double Win Strategy:

The Setup: You identify a qualifying pre-construction project in Thailand (Bangkok, Phuket, Eastern Seaboard) that's expected to complete in 18-24 months. You commit to a unit that meets the LTR ฿18+ million threshold. 🏗️

Win #1 - Pre-Construction Discount: You're typically getting 10-15% off completed unit pricing, sometimes more if you're an early buyer. On a ฿20 million property, that's ฿2-3 million in instant equity once construction completes. 💰

Win #2 - LTR Visa Qualification: Your purchase contract (even for uncompleted property) can be used to begin the LTR application process. You're building your paper trail and demonstrating financial commitment while construction progresses. 📋

Win #3 - Flexible Payment Terms: Most pre-construction deals involve staggered payments (10% down, 10% at various construction milestones, 80% on completion). You're not deploying all capital upfront, giving you flexibility to invest elsewhere or earn returns on your cash while waiting. ⏰

Win #4 - Market Appreciation During Construction: If Thailand's property market continues its trajectory, your unit appreciates from purchase price to completion price. Combine this with the pre-construction discount and you could be sitting on 15-25% paper gains before you even get the keys. 📈

The Risk Side: Construction delays (common in Southeast Asia), developer financial issues, market downturn during construction period, and the complexity of managing the LTR application while property is still being built. This is NOT a strategy for beginners or people who need certainty. 🚨

Who This Works For: Investors with 2-3 year time horizons, strong financial buffers, and genuine interest in obtaining Thai residency. If you're planning to split time between Thailand and your home country anyway, this strategy lets you "have your cake and eat it too." 🎂

Want to explore pre-construction properties that qualify for the LTR program? WhatsApp us and we'll show you the exact projects we're tracking, including payment structures and timeline expectations. Or fill out our contact form for a detailed analysis of which approach (completed vs. pre-construction) makes sense for YOUR situation. 🎯

🚀 READY TO MAKE YOUR MOVE?

The Hawook Weekly
🏝️ Your Southeast Asia property insider brief
📬 Delivered every Tuesday morning
🧠 Because smart investing beats lucky investing every time

Next Tuesday, we’re diving into Southeast Asian property values to see if the hype truly matches the reality. Bring your skepticism—we’ll bring the data. See you there! ☕

Disclaimer: This newsletter provides information and education only and should not be construed as financial, legal, tax, or investment advice. Property investment involves significant risk including potential loss of capital. All data is sourced from publicly available information and third-party sources believed to be reliable, but we cannot guarantee accuracy. Market conditions change rapidly and past performance does not indicate future results. Rental yields, appreciation rates, and return projections are estimates based on historical data and current market conditions—actual results will vary. Currency fluctuations, regulatory changes, economic conditions, and political developments can materially impact investment outcomes. The Thai LTR visa program has specific requirements and application processes that may change. Always conduct independent due diligence and consult with qualified legal, tax, financial, and immigration professionals before making any investment or visa decisions. The views expressed are those of Hawook and do not constitute recommendations to buy, sell, or hold any specific property or investment.

📧 Hit reply with questions, feedback, or topic requests—we actually read and respond!
🌐 More intel: hawook.com | news.hawook.co