Most real estate investors look to buy properties that will multiply the value of their investment manifold either due to price appreciation or excellent rental incomes. With the current recessionary trends prevailing in western countries, many investors in real estate are looking eastward for expanding their property investment portfolio. Of the various countries, Thailand is a popular option as it has one of the highest economic growth rates in the region. In addition, the country is considered a relatively safe choice for property investment overseas due to its popularity as a tourism destination, which has resulted in a significantly high demand for property over the past decade.
Of the various cities in Thailand, Pattaya offers the best real estate investment opportunities due to its status as a tourism centre and a haven for retired expats, excellent infrastructure (such as hospitals and schools) and good connectivity as Bangkok’s Suvarnabhumi International Airport is just over an hour away by road. Most of the major international hotel chains have already invested in Pattaya (an indicator of its potential for real estate investors), and despite this, there is still a shortage of rooms during the peak season. For those looking to cash in on the real estate boom in Pattaya, there are several investment properties for sale, including some upcoming condo projects.
Thai property laws have certain restrictions on foreign ownership of property, but overall the process is simple as these restrictions are mainly to do with land ownership. Condos are a good option for Pattaya investment as foreigners can invest without much difficulty. However, there are also several legal clauses related to condo ownership such as only a certain percentage of the total number of units can be owned by foreign real estate investors.
There are a number of factors to be considered such as location, accessibility, quality of construction, reliability of the builder and price, as an investment will appreciate only if these basic conditions are met. While it isn’t easy for overseas investors to make an assessment, there are reliable and professional property investment in Pattaya companies, which can help with the process.
Investors prefer to buy into condos during the early stages of construction as they can get the lowest prices by locking in at that time. In most cases, the investment appreciates by the time the construction is complete. However, real estate investors need to be cautious before blindly investing at the early stages. Several factors such as the financial viability of the project, clearances or even economic trends could affect the development of pre construction condos. It is almost impossible for an overseas investor to assess the ground realities or get a fix on the prevailing market conditions, so it is best to rely on local expertise.
Condominium development has been on the rise on the eastern seaboard and surrounding areas over the past few years, especially in Pattaya and neighbouring Jomtien. A search for investment property for sale in Pattaya would show up listings of several condos under construction as well as resale options. The city has been expanding rapidly, and condos have been coming up to meet the demand for property ownership. For real estate investors, who are looking at a secure investment, condos in Pattaya are a safe option as it provides easy access to entertainment and facilities, thereby ensuring long term income from rentals. Jomtien is also a good option as several tourists and expats prefer to live away from the noise and crowds of Pattaya.
Condos are the best real estate investment Pattaya has to offer and there is a choice of completed, pre construction as well as off plan condos that are suitable for investment. While the Pattaya area mainly has older projects where resale properties are a possibility, real estate investors can look at Jomtien properties for off plan, upcoming or newly completed condo developments.
For those looking to make an investment in a completed project in Jomtien, The Chateau Dale condo development is a good option. The complex has one bedroom, two bedroom and three bedroom duplex apartments to choose from. Some of these units are unsold while others are resale units. This condo investment Pattaya has to offer comes with wonderful views and excellent amenities, including landscaping, swimming pool, gym, Jacuzzi, spa and coffee shop.
A suitable option for investors looking for an under construction condo project is Acqua condominium in Jomtien. This project, which is expected to be complete by 2015, has two blocks with eight floors each. There is a choice of two bed, one bed and studio units. Real estate investors buying into this property can expect good rentals due to the location on the Jomtien seaside, which offers sea views, in addition to facilities such as a sky garden, yoga room and swimming pool.
Off plan developments are the best option for investment as real estate investors only have to pay a small deposit upfront before the construction begins. The remaining payments are staggered over milestones based on the progress on the project. In Jomtien, La Santir Pattaya is a good prospect for investment with studio, one bedroom or combined units available in 27 floors. All units have views of the sea or greenery around. Located around 1000 metres from the beach, this investment property also offers easy access to both the Jomtien Beach Road as well as the Sukhumvit highway. Facilities include landscaped gardens, swimming pool, Jacuzzi, gym and children’s facilities among other things.
The Atlantis condo resort in Jomtien is another interesting option in Jomtien that offers investors the chance to lock into a resort style development, which includes tropical gardens and a themed water park. With condos surrounding the largest swimming pool in Pattaya, this is one property from which real estate investors can be assured of long term returns from rental income. There are 1000 one bedroom units spread over five buildings with eight floors each.
Feelture Porchland 6 Pattaya
There are several Pattaya investment property companies such as Thailand Property that have the experience and expertise in helping overseas investors make safe and secure investments in Pattaya properties. From understanding clients’ needs to advising them on the best option and taking care of all legal formalities, these companies offer comprehensive solutions to real estate investors who are looking at buying property in Pattaya purely as an investment.
Learn more about the various services that are offered by visiting www.property-in-pattaya.com
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