Pattaya is a jewel in Thailand’s property market, with new developments coming up like mushrooms to support the increasing demand from both Thais and foreigners for condominium units, apartments, single houses and villas. And with a new international airport just 60 minutes away, one could say that Pattaya real estate is a real diamond in the rough. Many foreigners are now taking advantage of Thailand’s retirement visas which are issues to foreigners aged 50 and older, even if they are still working in their home countries. Pattaya has become a paradise for retired westerners. Many houses and condos are bought as first homes or second homes for both leisure and retirement residences. This has bouyed the real estate market in Pattaya.
Living in Pattaya
Pattaya and nearby Jomtien have long been two of the most popular places to settle among Westerners. In addition to the large expatriate community, there are many bars and restaurants that are run by foreign owners to support the large numbers of international tourists. There is also an extensive support network of other expatriates to rely on for help and advice. Therefore, locals here are used to dealing with foreigners, especially when it come to real estate.
Pattaya also offers a wide variety of professional services, such as private hospitals, English speaking lawyers, international schools and even local newspapers in several languages. Location and lifestyle are undoubtedly the two biggest selling points sporting opportunities are both on land and water, and include some of the finest golfing, game fishing and scuba diving in Thailand. And, after dark, Pattaya offers all the allure and magic of a truly vibrant nightlife with a spectacular variety of restaurants, nightclubs, bars, discotheques, cocktail lounges and cabarets. It is a great place to live and relax.
Buying Property in Pattaya
Real estate in Pattaya attracts a lot of attention, especially from big agents. All real estate here is supported by a professional network. By taking a walk around the town, its easy to see that theres a large contingent of companies ready to dive into the lucrative, expanding market. Sales agents and property companies are nearly as easy to spot as 7-11s. The common price range of three to five million baht is the norm, however high-end beachfront property goes for significantly higher.
Condos in Pattaya
Buying condos in Pattaya is the most popular option among foreigners who have no legal avenue to own land. When it comes to real estate, the condo market in Pattaya (especially condos in Jomtien Beach) has outperformed the more upmarket resort destinations of Phuket and Samui in recent years, as new project launches have achieved excellent sales results. Given the strong demand, many condo developers provide new developments at prices below 70,000 baht per square metre, these values contrast with the more high profile Pattaya real estate developments marketed in excess of 100,000 baht. per square metre. More on buying condos in Pattaya.
Houses and land in Pattaya
Many foreigners have chosen to buy/build houses here in Pattaya. Unlike Bangkok, land is readily available in Pattaya, providing property hunters with opportunities for buying affordable stand-alone houses or investing at a housing estate. In 2007 buyers began taking a wait-and-see approach as the new government formulates its policies; on the other hand a trend towards larger low rise condominiums is expected to rise in preference to houses and villas. Despite the foreign ownership issues in real estate, Pattaya city limits are still expanding rapidly, thanks to the new Suvarnabhumi Airport and a highway widening program currently underway between Bangkok and Pattaya. More on buying villas and houses in Pattaya.
Investing in Pattaya property
Investing in real estate in Pattaya is considered a safe and sound move with guaranteed long-term returns. Developments directly accessible by highway 331 will likely see an upsurge in interest over the next few years as commuting via Sukhumvit road becomes increasingly impacted by vehicle congestion. With Suvarabhumi airport serviced by daily flights to and from more international destinations than any other domestic airport in Thailand, Pattaya makes for a truly convenient, affordable and accessible holiday home or investment.