The new wave of Theme condo/resorts that promise to revitalize Pattaya’s real estate
Though a big portion of Chomburi (and Pattaya in particular) real estate market remain overdeveloped and overwhelmed there is niche of rather playful developments that seem to be selling like hotcakes. These are the new wave of themed condos, which not only fit our holiday city rather well (what is Pattaya but one big playground right?) but also seem to be doing very well with investors thanks to their condo/resort business plan. Here we have a short list of some of the most popular of these complex, all less than a year old and ready for any potential investor to take a good look at them:
Grand Caribbean Condo Resort:
I mean, Jack Sparrow would provably enjoy living here. Set among a tropical Caribbean theme this condo offers an amazing central pool decorated with a pirate ship, light houses, waterfalls, a ‘jacuzzi inside a volcano’ and tropical and lush gardens (I mean it, they actually call it a ‘walk in jungle’ for the enjoyment of both young and old guests).
As its expected, all of the facilities are extremely playful (their motto ‘where holidays become homes’ does indeed apply), the pirate ships for instance come equipped with water cannons, sun decks and a chill-out lounges below deck, which basically means mom and dad can be enjoying some cocktails while the children are shooting each-other with canons… kind of perfect no?
Amazon condo resort:
What if I told you you could live in a jungle with all the comfort and facilities of a city? The Amazon Condo Resort, located in Jomtien (which also happens to be one of Pattaya’s most relaxing beaches) feaures 5 jacuzzi spots, rooftop gardens, artificial sand beaches, caves and a lagoon-style pool, much like something Hugh Hefner would be proud about.
Completed in early 2014, this property has also proven very popular with Thai families and single people (mainly due to the fact of their small 35sqm rooms wouldn’t provide good accomodation ofr families). Much like the Grand Caribean Condo Resort, the Amazon is a fun and interactive developement where tenants can feel like they are living in a neverending holiday, as I explained before, this property also acts as both a resort and a condominium giving owners options when it comes to renting the property as a money producing investment.
As we can see these fun-oriented developments seem to be made for Pattaya, they bring something slightly different to the table which seems to be doing very well with young families (many Russians and Thais have opted for these condos) and singles alike (nothing like a bachelor’s pad with a pirate ship parked right outside in the pool no?).
Also, there’s one particular factor regarding their business plan which also helps explain their popularity as an investment option. As you may have noticed, all of these developments are both labeled as a ‘Resort’ as-well as a ‘Condominium’. What this means for investors is that, in case you buy some units here, the managing company has a big interest in keeping your room clean and in top shape, after all, they have the possibility to rent it on the daily bases as any hotel would do. This said, as the owner you also have the power to rent your property on the long term. This is pretty much a win win situation: you can rent your property daily while demand is high but at the same time you can be looking for tenants that want to stay for longer periods of time, and be honest, which smart investors won’t like options?