What Makes Pattaya A Great Investment Opportunity?
The amazing geographical location, the newly built multi-lane highways, the high-speed Bangkok-Pattaya rail link and the fact that it’s a world renowned tourist attraction constitute four major factors that made Pattaya the most popular choice in terms of property investment. In spite of the civil unrest that occurred this year, Thailand is currently a stable, secure and comprehensive real estate market that is guaranteed to bring long-term returns to investors. Let’s explore some of the reasons why the region is one of the best locations for property investors.
Located just one hour drive away from Thailand’s capital, Bangkok, Pattaya draws tourists and investors mainly due to its lifestyle. Aware of the potential of this extraordinary resort, the local authorities have implemented seamless ‘retirement visa’ norms that encourage tourists and expats to invest in a second home in the Pattaya region. An authentic paradise for retired Westerners, the biggest points of interest in the area include:
- Supreme golf courses
- Lovely beaches
- Water sports and adventures
- Vibrant nightlife
- SPA retreats
- Top class hospitals
- International schools
If you’re looking to buy land in Pattaya, then you should know that the most popular and affordable type of property investment-wise is the condominium. Not only are they in high demand and available at extremely affordable prices, but you could also take advantage of the numerous perks and incentives provided by developers in the marketing and construction phases. For instance, for some newly launched projects, signing a contract early means you could pay 0% interest rate for a period of three years.
The low prices of the units in the region have also caught the eye of various international companies such as TESCO, Marriott, Hilton, Amari, Holiday Inn and Sheraton, to name a few. Locals in general and residents of Bangkok in particular are also interested in purchasing vacation homes and villas in the region, making Pattaya one of the most promising investment locations in Thailand.
Massive ASEAN investments in the region
The increasing interest and demand coming from Westerners and international corporations attracted construction companies that are part of the ASEAN association. The accessibility and cost-effectiveness have determined the association to pour huge investments in the property marketing. In fact, it is estimated that by 2015 Pattaya will become an even more prominent investment location and an important business hub for the forthcoming ASEAN community.
In case you want to take advantage of the low prices in the region, the time to invest is now. With land being bought relatively quickly and construction location becoming scarcer, the prices are estimated to increase significantly over the following years.
Take note that the interest in Pattaya property has been increasing constantly since the middle 2000s and analysts predict it will continue to have a robust outlook in the years to come. The increasing interests combined with the massive investments made in the region are two of the factors that ensure Pattaya is among the safest property bets in Thailand.