Investing in Condominium Real Estate in Pattaya, Thailand
Why do people buy property in Pattaya Thailand?
Sun, sea, golden beaches, low cost and the variety of legendary entertainment make the Pattaya and Jomtien resorts in Thailand irresistible for holidaymakers.
Thousands of tourists from every corner of the world visit the Thai resorts of Pattaya and Jomtien for many reasons. Most come initially for a holiday but once they discover the lifestyle available here, for a fraction of the price of the western world, many return year after year. Some come in search of overseas holiday homes and condos, some to relocate permanently or to retire to Thailand in a level of luxury that could only be dreamed of in their own countries.
The result of this influx of people and western wealth, has created a boom in real estate property developments. This has claimed in a high demand for quality condominiums and modern Thai Bali style houses and villas.
The growth in demand has seen a steady rise in prices and some amazing investments returns especially on apartments in condominium developments. Off plan buyers and investors have made in some cases, up to a 26% return on their investment. Matrix Real Estate Developments has been at the forefront of this boom and to cater for the growing demand has built a range of well priced high quality condos to suit a wide range of requirements.
The increasing values of condominiums are primarily attributed to property ownership laws in Thailand that make it easier for non Thai nationals to own condos rather than houses and land. Foreign buyers can be sole owners of a condominium since the demand has created a buoyant market which even during the current difficult worlds economic climate, continues to move in an ever increasing forward direction.
The narrow strip of land in Thailand that stretches from Bangkok to Rayong encompassing Pattaya and Jomtien, is known as the ‘Eastern Seaboard’. Situated on the coast of the Gulf of Thailand this area has become a hub of activity for the major sea ports and the oil industry, hence a creating a huge amount of commercial activity. This has drawn Thai and International businesses to the area, driving up the demand for high quality accommodation, and potentially fueling the property development and real estate prices.
Income from Thailand’s service industries forms a large part of Thailand’s Gross Domestic Product (GDP). Given that the service industries can not exist without a fast growing and well-developed infrastructure, it is a natural conclusion that real estate prices will continue to grow.
Pattaya Thailand has everything to offer the tourist and expat resident with growing investment opportunities in the condo market. Buy for Let opportunities are giving an increased return in investment above those of other international markets.
Pattaya Property Market Benefits
You can buy a new condo (flat / apartment) in your own name.
As your property appreciates in value, you can make a substantial profit when you sell without paying a ransom in taxes. There is no Capital Gains Tax in Thailand!
Investments in Thailand are appreciating very quickly. It is only a small country so space and time are limited.
Thailand has a fast upwardly moving economy of over $ 130 billion, producing profits of $ 13 billion every year. Having one of the highest growth rates in any of the Asian countries means that land prices are going to soar, especially in Pattaya.
One of Thailand’s most favored destinations is Pattaya City located on the Eastern Seaboard. With the newly upgraded multi-lane highways and skyways whisking you from Bangkok to Pattaya, your journey takes just 1 hour. The narrow strip of land from Bangkok to Rayong that encompasses Pattaya and Jomtien is the hub of all commercial activity; This is where the service industries operate so there is large scope for prices to appreciate. The law of Supply and Demand is very appropriate in this area.
Pattaya, the Jewel in the Crown of Tourism within South East Asia, has developed over the past 40 years from a sleepy fishing village into an ever changing, expanding, improving leisure relaxation metropolis, with City status.
In recent years Pattaya has become renamed for its family orientated holiday and residential life style. Pattaya boasts some of Thailand’s best tourist and leisure facilities, some of which include:
World class Golf Courses.
Ocean Marina with exclusive private moorings for luxury yachts and cruisers.
The world famous Nong Nooch Gardens with its lush tropical rare plants and artistic elephants.
Horseshoe Point, the largest specially developed equestrian center in Asia with 8 undercover riding rings.
Underwater World where you can literally reach out and touch the many species of marine life that are normally only found in the surrounding tropical seas.
Shopping to suit all pockets is available in Pattaya with a myriad of products from highly exclusive brand name stores, located in the many superb air conditioned shopping malls, through to the local street markets where you can barter for that perfect bargain.
Golden coral sand beaches frame this tropical paradise, with the warm South China Sea gently lapping at your toes. For the adventurous there is an almost limitless availability of water sports:
Deep sea fishing
World class restaurants, bistros and cafés abound, with an almost endless variety of menus to suit everyone’s budget and taste.
The vibrant and exciting night life that can be accessed by all includes; several world famous theaters, international multi-screen cinemas, and innumerable other nightlife attractions in this beautiful city of 24/7 activity and entertainment.
Pattaya also has medical facilities that are the envy of the world.
Do not miss out on the great opportunities that Pattaya has to offer