The Thai property sector has suffered a chaotic recent history but it has ultimately triumphed over adversity…
The devastating Tsunami in December 2004 and military coup in September 2006 certainly gained the ‘land of smiles’ global attention however the Thai government and its people have worked hard to utilise this interest positively. Far from being a white elephant (which are incidentally sacred and a sign of prosperity in their native SE Asia), there is continued interest in
A key economic growth sector has been tourism which accounted for an impressive 9% of Thai GDP in 2005 according to the Bank of Thailand. The number of tourists visiting
Excellent and varied opportunities
A solid economy coupled with a renowned reputation as an attractive tourist destination is having a positive affect on the Thai property market, providing some excellent and varied opportunities for the overseas property investor.
Resort developments such as those in Pattaya, are proving particularly popular not only with foreign buyers but also Thai residents, the thriving ex-pat community and the emerging Asian middle classes especially the Chinese for whom
As a consequence of shifts in worldwide tourism trends,
“This is where the Thai property market is prospering”, comments Kevin Prior, Sales Director of Obelisk International. “Property costs a third of other tourist hot spots and when combined with impressive capital growth shown to have been maintained over several years and a year round rental season with consistently high returns there is significant attraction for investors.”
Growing demand from overseas investors
To fulfil the growing demand from foreign second home owners, retirees and expats, coastal resorts such as
Simply once a small fishing village, Pattaya was discovered as a
And being only now 1 ½ hours from the new
The real estate market in Pattaya is booming with Thai nationals buying first ‘western style’ homes here as well as foreign nationals purchasing second or retirement properties. Many experts believe the city to be experiencing a second cycle of growth as increasingly higher end luxury developments such as the 91 floor Ocean 1 Tower and other residential communities spring up in Pattaya.
Excellent investment opportunity
As an investment, real estate in Pattaya presents an excellent opportunity. The
Located in a secure and tranquil area of the city next to the beautiful
It is the first condominium development in Pattaya to have two ‘infinity edge’ roof top swimming pools as well as 2 mini golf roof top courses, sun deck, bar, gym, coffee shop, 24 hour security, underground parking, recreational gardens and a Jacuzzi bath as standard in all apartments.
Investment in a 1 bedroom apartment averages at £61,970 and capital growth is expected at 15% per annum for 5 years. Kevin Prior comments, “
Future of prosperity and success
The Chornburi province in which Pattaya is located has 7900 registered expats (Labour Ministry, Sept 2006) and this community has been growing by 20% per year since 2004. The majority (60%) of
With regards to rental incomes, western style condominium properties are among the most sought after in
“The Thai property market is very much on the up,” comments Kevin, “investing in real estate in regions such as Pattaya is by no means a liability or white elephant. On the contrary we at Obelisk International believe