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In recent years, the property market in Pattaya has gained immense popularity among foreign investors with a shift towards Chinese buyers. In simple terms – foreigners are buying everything: houses, flats, apartments. The possibility of realizing high returns on bank deposits and securities markets are the reasons to start investing in real estate in countries with rapidly growing economies. And these qualities are apparent primarily in the countries of South-East Asia, including Thailand. According to recent statistics 90% of property buyers in Pattaya are foreigners.
Pattaya, is rapidly being transformed. There are a myiad number of highquality construction projects and real estate agencies at almost every corner.
The main factor influencing the decision to buy an apartment or a house is both economic and lifestyle oriented. Thailand is now perhaps one of the most popular tourism destinations in the world, attracting a huge amount of visitors, and offering not only a huge database of hotel and a wide range of excursions, but also affordable prices, including housing.
At the moment, Pattaya attracts about 8 million visitors a year, making it one of the top tourist destinations in South East Asia. And, now the city has a huge investment world wide potential – both because of the growing numbers of tourists, and as a result of investments by the government and foreign investors in the industrial zone of the Eastern Seaboard. This, of course, attracts both investors and other categories of customers, from businessmen to retirees.
Now the Government of Thailand and Pattaya City Hall are doing a lot to promote the resort town as being family-oriented. They have built two huge water parks and expanded and improved the beach areas, In addition, for those who have decided to buy property in Pattaya, the city offers all of the necessary infrastructure: international schools, upscale hospitals, excellent nurseries – with both Russian and English speakers, as well as plenty of entertainment from sailing to polo and golf.
Also, for many people working in Asia, Thailand is the ideal place for retirement in comparison with other Asian centers such as Hong Kong or Singapore. Prices in Thailand make it easier to live well on a retirement income. In Thailand, every foreigner older than 50 years can receive a special retirement visa, with a certificate of income or contribution to the Thai bank. A lot of Russian pensioners can enjoy the pleasures of life in a warm place, by leasing an apartment at home and receiving a pension on the bank card.
Today, Thailand real estate market analysts say that there is a surge in demand for commercial and industrial properties like hotel and restaurant business, shopping, food and building materials businesses, etc. This is due, most likely, to the ongoing crisis in the Eurozone and mixed economic situation in Russia. Many large corporations are transferring their production operations to Thailand, resulting in the industrial zone of the East Coast, not far from Pattaya, experiencing strong in-flows of foreign investment.
Due to the fact that the Thai property boom began relatively recently, the prices here have not yet reached the European levels, but tend to grow at around 10% per year. This makes Thailand the largest growing market in Asia. In addition, manufacturers in Thailand have a huge opportunity to market their products in the ASEAN countries – the ten countries in South-East Asia with a total population of over 522 million people and a combined GDP of 585 billion dollars. And, given the number of tax breaks and preferences for foreign companies, there has never been a better time to invest in Thailand.
Pattaya is ideal for those who are looking for a convenient and comfortable place to live near the sea, work and relax in quiet, stable comfort. Come visit, and see for yourself!
Ranked as the fourth region of the world for investment attractiveness, according to the Commerce Commission and to the UN, Thailand is a great place to invest.
Thai medicine has a great reputation around the world, and is known by doctors to be world-class, with modern facilities and high service standards.
In April of 2013, ‘The Move Channel’ website released the results of its user inquiries, and found that Thailand is firmly in third place in the world-wide popularity of property investors, behind the U.S. with almost nineteen per cent of total inquiries and Spain with just over ten per cent.
Thailand received almost seven per cent of inquiries by interested potential property investors. This was just ahead of the Cayman Islands which received just over six and half per cent.
It is noteworthy that the growth of demand for property on Thailand is extremely consistent.
Craig Turner, Managing Director of Rightmove Pattaya, said that real estate in Thailand does attract more investors from abroad. And, that the Pattaya area is particularly popular for foreign investors.
March 22, 2016
September 25, 2015