Punna Residence 5

Punna Residence 5 is located at 229/137 Suthep, Mueang Chiang Mai, Chiang Mai 50200, in a well-established residential area close to Nimmanhaemin Road and Chiang Mai University. The location is suitable for both owner-occupiers and rental investment due to steady housing demand in the city center.

The project is a Low Rise condominium comprising 1 residential building of 8 floors with approximately 77 units. Parking is available within the project in a proportion suitable for the scale of the development. It was completed around 2015 and developed by Punna Development Co., Ltd. Unit types mainly include 1-bedroom, 2-bedroom, and selected penthouse layouts, with relatively spacious sizes compared with many nearby condominiums.

Facilities include a swimming pool, fitness room, lobby, passenger lift, and common area for relaxation. Security features include CCTV, key card access, and on-site security personnel, helping support privacy and day-to-day safety for residents.

A key strength of the project is its Suthep location with convenient access to Nimmanhaemin Road, Huay Kaew Road, and Chiang Mai University. The surrounding area offers restaurants, cafes, shopping venues, and medical facilities, making it practical for urban living and attractive for investors seeking a condominium in Chiang Mai. A nearby project of interest is D’Vieng Santitham.

The property is managed under a condominium juristic person structure, which helps oversee common area maintenance, cleanliness, and long-term residential management standards.

Panna Residence 5 (Suthep, Chiang Mai) shows a relatively stable 2026 resale market, positioned in the mid-to-upper band for areas benefiting from proximity to Nimman and Chiang Mai University. Demand is driven by genuine end-users and long-term rental investors, which tends to smooth price swings compared with nearby projects such as The Nimmana and some Finn Condo developments where pricing can be tighter in certain periods.

• Resale price per unit (1-bed 30-35 sq.m.): THB 2.20-2.80M
• Average price: ~THB 78,000 per sq.m. (range THB 70,000-85,000 per sq.m.)
• Average rent: THB 11,000-14,000 per month (fully furnished, 12-month lease)

Rental Yield calculation (example: 32 sq.m. unit at THB 2.50M, rent THB 12,500): annual rent = THB 150,000. Gross yield = 150,000 ÷ 2,500,000 = 6.0% p.a. After common fees and vacancy, net yields typically normalize to ~4.8-5.3%.

Capital Gain view: Assuming a gradual 2-4% annual appreciation pattern typical for the Suthep submarket, 2026 pricing could be up roughly 4-8% versus 2024-2025 levels. Upside comes from consistent tenant demand (medical staff and university-related renters) and limited prime inner-city land. Key risk is rental competition from a large pool of nearby condos, making unit condition and realistic pricing critical to maintain occupancy.