| Pattaya has become Thailand’s
second city, as well as an international tourist destination.
Thousands of people move to Pattaya each year. New arrivals
include foreigners looking for second homes, retirement homes,
or investment properties, and Thai people moving from other
parts of the country for vacation homes and for business opportunities.
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Location and lifestyle are undoubtedly
the two biggest selling points, and the market has matured to
the extend that property developments are on par with international
standards and trends. Unlike Bangkok, land is readily available
in Pattaya, providing property hunters with opportunities of
buying affordable stand-alone houses or investing at a housing
estate. However, the hassle-free option of condominiums that
offer a lock-up-and-go lifestyle (and also given the advantages
in terms of foreign ownership), remains undoubtedly the most
popular and fastest-growing real estate trend.
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| Proof of Pattaya's popularity is its forever-growing
cosmopolitan flavour, with a large contingent of expats from especially
the USA, UK, Germany, Scandinavian countries and even Russia who
have either settled and retired here, or invested in holiday homes.
The growth in the residential market has been further boosted
by a demand for property from Pattaya locals and other Thai buyers.
As a result of the new airport and continued improvements in infrastructure,
more property developers are also entering the market to launch
a variety of developments, including residential, international
chain hotels and retail projects. |
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