The Condition Of The Real Estate Market In Pattaya, Thailand
Investing in the Pattaya property market is nothing new.
All major players in the international hotel industry have invested billions in Pattaya in recent years yet there is still a shortage of hotel rooms in the high season. Investors from Japan and Hong Kong are all very active in Pattaya and seize every opportunity to increase their capital. Fact is that even at a time when the US Dollar is weak, firms from the US are lining up to invest in Thailand. Joint ventures between Singapore based and local real estate development firms are no rarity. Large supermarket chains like the UK’s Tesco Lotus and the France’s Carrefour are both present and in December 2009 at a cost of 600 million Baht, Makro opened its 44th Thai branch here in Pattaya. The Hilton group are currently building a new hotel above the new Central Festival shopping mall.
Consider the numbers that flock to Pattaya!
The Thai tourist industry in 2007 counted approximately 5.6 Million visitors in Pattaya alone and one can add to this the high numbers of expats working for the multinational companies that have established their headquarters in the Chon Buri Province. They all need quality accommodation whether it be rented or purchased. It doesn’t take a lot of working out to see that the real estate market in Pattaya is buoyant.
Thailand enjoys a fast upward moving upward economy of over $130 billion providing profits of $13 billion every year; one of the highest growth rates in any of the Asian countries. Local demands trigger action and Pattaya’s demand is growing at an incredible speed. Investors have a feel for a bargain. For this reason investment companies try to get their foot in the door and specifically seek Pattaya as one of their favourite locations in Thailand.
This means that land prices will continue to soar.
Official stats show that the price of land in Thailand increased nationwide in 2007 by an average of 26.9 per cent. There is no stagnation or decrease, only a steady line moving ever upwards. This indicates that the earlier you get in, ‘the better the yield’
REASONS WHY YOU SHOULD INVEST IN A CONDOMINIUM IN PATTAYA
Little Pattaya has as many tourists in a year as Spain’s entire Costa del Sol but weather wise, Andalucía lags well behind. Stats show that people go to Spain for the enjoyable climate but March & April can be extremely wet and if you are unfortunate, you may even see snow in winter. If you go to Pattaya at any time of the year, you are certain that the summer clothes in your luggage are all you need and that your swim suit will be put to good use. Even during Thailand’s wet season, the temperature remains the same and rain very rarely lasts more than a few hours before the sun is back out.
Then compare the price you pay in Pattaya for a 360 sq.m villa on a 1500 sq.m plot with lush landscaped gardens, a guest house, large swimming pool with Jacuzzi, computerized irrigation system, car port for 2 cars and a remote controlled sliding gate; with the price you will have to pay in Marbella on the Costa del Sol.
You will most likely end up with a bill that is 3 times higher and the question is would you have everything listed above in the package – probably not. All of the luxuries available here in Pattaya are for a fraction of what you might be expected to pay in America or Southern Europe in areas where holiday makers flock to a sun spoiled climate.
As your property appreciates in value in Thailand, the profit is all yours when you sell. Capital Gains Tax does not exist in Thailand and investments are appreciating year by year.
HOW TO INVEST IN A CONDOMINIUM IN PATTAYA
As a rule, studying ‘rock solid’ facts & figures is the minimum any investor should do before looking to invest anywhere. Successful investors always practice checking the total of the country’s economy, the region, the city and its future perspectives and also try to ascertain the actual status of the market.
The market in Pattaya is far from saturated and the demand is higher than the condominium market can cope with, especially in the elite luxury sector. The market is still wide open.
As a foreigner there are certain restrictions to buying land or a single house on a plot of land but you can own a new condo / flat / apartment in your own name. Therefore foreigners purchase condominiums as Second, Vacation, or Retirement Homes in much higher numbers than in other countries where purchasing of plots of land is without hindrance
The purchase of land and a house is achievable but it is a complicated process so for an easy, trouble free purchase, Condos are really the only way to go. We have no hesitation in recommending that prospective investors in Holiday Homes, Permanent Residences or Buy to Let Investments look no further than Matrix Real Estate Developers to satisfy their needs in Pattaya’s real estate market.
High quality properties developed here in Thailand by Matrix Real Estate Developers use advanced state of the art construction methods that stand the test of time. Interiors are finished in the finest of materials such as tropical hardwoods, premium natural stones, first quality ceramic tiles and top quality sanitary ware. Each bedroom enjoys its own en suite bathroom and these are just the general features on offer when you invest into a condominium or apartment building constructed and developed by Matrix Real Estate Developers.
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