Pattaya property market - The future - Green Door Enterprises

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[Published on 2009-11-19 in Property Newsby Chris Thompson]

Pattaya property market - The future

Picture of Pattaya bay over Buddha HillPattaya is a beach resort with city status and has reinvented itself as Thailand's primary holiday spot and one of the world's favourite beach destinations. It is located in the centre of the Eastern Seaboard, which is Thailand's fasting growing regional economy.  Easy to get to, Pattaya's and the surrounding area's residential and commercial property market is being fuelled by its location. It is just a two hour drive from Bangkok, one hour from Suvarnabhumi International Airport, thirty minutes from Laem Chabang Port, Thailand's premier deep sea port, and the industrial parks at Rayong. With the planned upgrading of the nearby U-Tapao Airport to an international transport centre, and the completion of the new high speed road and rail links, the journey time will be even shorter.

Thailand is one of the best countries in Asia to invest in property

In addition, Pattaya has upgraded its infrastructure, has several international schools, first rate hospitals, 23 professional standard golf courses and a vibrant nightlife, fine dining and many water sports activities that are bringing in two million weekend visitors every year from Bangkok, on top of the six million annual holidaymakers from all over the world. The tourist profile has become far more affluent in the last few years, with many wanting to rent property, rather than staying in guesthouses.

According to international property analysts, the outlook for Thailand's, and in particular Pattaya's, property market will continue to grow, especially in the residential housing and condominium building sector. Asian Property Development's chief executive officer said that among the many factors supporting the continuing growth of the residential building sector and why Thailand will become so attractive to investors, is because half the world's population lives in Asia - that is, China, India, Vietnam, Thailand and Indonesia. This is a vast, untapped market with a massive potential for growth.

Thailand is one of the best countries in Asia to invest in property. There is no inheritance or gift tax, capital gains are considered income and are charged at the standard tax rate and foreigners can buy condominiums freehold. There are other ways for foreigners to invest in property, but purchasing a condominium is by far the easiest way.

This is a vast, untapped market with a massive potential for growth.

Properties in Pattaya are incredibly cheap compared to European and western countries. A substantial detached house with swimming pool or a luxury seafront condominium can be bought for a fraction of what it would cost in the west - that is, of course, assuming it can be found in the first place!  Currently, supply is keeping up with demand and this is helping to keep prices steadily rising, but many agents and building industry analysts are predicting significant price rises in the near future.

Thailand has a well established reputation as a beautiful country, with a long, interesting history, superb, tropical islands and beaches, with warm and friendly people. But It is much more than that, with the many advantages over nearby countries, whether you are an investor, retiree, or looking for a second home in a tropical resort city, then Pattaya fits all the criteria. 

 

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