Lifestyle and investment properties in
Thailand have always been a popular option for overseas buyers, with inner-city
areas like Bangkok previously being the destination of choice for investment
properties, and popular resorts like Phuket a pull for those wanting an idyllic
holiday home. Yet the tides are changing and the beach-front city of Pattaya is
rapidly moving into the spotlight.
“The
property market in Thailand has continued to strengthen,” comments Lee Chettoe,
Senior Property Consultant at Knight Knox International. “The floods last year
merely shifted the focus of investors from Bangkok city centre over to Pattaya,
which is currently the fastest-growing city in Thailand.”
Pattaya
is certainly a city with huge investment potential, particularly as the eyes of
the world will be turned towards the Asian city in 2015, when it becomes the
central hub for the launch of the Association of South East Asian Nations
(ASEAN). Chosen for its reputation as a safe city with a strong infrastructure
and easy international access, it was also the ideal choice because English is
the official language of the 10 ASEAN member nations and Pattaya already has
many English newspapers, TV stations, radio stations and internet sites.
Reinforcing
the strength of the Pattaya property market, Chettoe also says, “There has been
a noticeable uplift in the amount of enquiries we have received for apartments
in Pattaya, particularly from British investors, which has allowed us to expand
our portfolio considerably, to cater for the surge in demand.”
Speaking
to agents on-the-ground in the city is encouraging, as it appears that all
available land plots are being cleared in preparation for future projects which
are needed to fuel sales. In turn, this will boost tourist numbers and provide
work for overseas relocating industries, increasing the number of ex-pats and
foreign workers looking for second homes.
One
such agent, Andy Moss, Director of CPA Developments, has worked in Pattaya for
the past three years and is confident in the sustainability of the market in
Pattaya, saying, “The predication of the market slowing down is one prediction
that could not be more wrong. Sales numbers increase every month and new
developments appear on a weekly basis, to the point where land sales and prices
are at an all time high.”
In
spite of recent events, the country has shown rapid signs of recovery after the
heavy floods last year, which devastated parts of Chao Phraya and Bangkok and
put a huge strain on the tourism industry which they so heavily rely on.
The
investment opportunities in Thailand are endless, even more so now with the
proposed building of a new four-lane Superhighway from India, which will allow
merchants and tourists a direct route from Assam through to Burma, Thailand,
Cambodia and Vietnam. The CBRE Asia Pacific Retail Capital Value Index also rose
by 3.4% quarter-on-quarter at the beginning of 2012, further highlighting the
increased demand for investment in the Asian markets.
When
you also take into account the current stability of the Thai Baht and the
recent CBRE prediction of the country’s GDP rising to 7.3 % in 2013, investors
will be hard-pressed to find a country riper for investment.
Knight
Knox International Pattaya Properties A specialist at selling property in
Thailand for many years, Knight Knox International currently has numerous developments
available in Pattaya, ranging from beach-side apartments to luxurious
investment condos. Two of the hottest developments currently on the market are:
Laguna
Beach Resort II: Following on from the winning formula of Laguna Beach Resort
Jomtien, this four-building condominium is undoubtedly one of the most exciting
developments in Pattaya. With eye-catching landscaping, lagoon-style pools and
in-house massage sala, the Laguna Beach Resort II is a five-star resort-style
development which is perfect for either a buy-to-let investment or luxury
holiday home.
Feel
Ture: Comprised of 301 stylishly designed apartments, the development is only a
short walk from the idyllic Jomtien Beach and downtown Pattaya. Ideal for a
long-term rental investment, the complex has been designed to encourage a
close-knit community and includes resort-style facilities including; 24hr
security and CCTV, rooftop Jacuzzi, two-fully equipped gymnasiums, a
first-floor running track and ground-floor swimming pool.
Business & Investment Opportunities
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