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Pattaya’s Real Estate Market Thrives with Chinese and Russian Purchasers

Published: May 9, 2023 at 4:47 pm

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Pattaya’s real estate market has been experiencing remarkable growth, driven primarily by Chinese and Russian buyers. Habitat Group Co. Ltd., a leading real estate developer, reports that there’s a growing demand for properties in Pattaya by both foreign and domestic investors. This makes Pattaya an attractive investment prospect and the increasing popularity of Thailand as a tourist destination.

The Tourism Authority of Thailand (TAT) predicts that Thailand will attract 23 million foreign visitors this year, with Bangkok, Phuket, and Pattaya serving as the top three destinations. Pattaya, in particular, offers a variety of real estate opportunities, with foreigners owning 45 percent of properties and Thais 55 percent. Its prime location, just 90 minutes from Bangkok, positions it as a gateway for the Eastern Economic Corridor (EEC) zone as well as a world-renowned tourist destination.

Habitat Group has recognized Pattaya’s immense potential and has strategically focused its efforts on developing projects that cater to two specific segments: ‘Lifestyle Investment’ and ‘Holiday Homes’. These investment strategies aim to generate attractive yields for buyers, who can rent their properties to tenants or use them as second homes or retirement residences.

The initial phase of 20 pool villas at Highland Park Pool Villa Pattaya has already sold out, demonstrating the strong demand for such properties. An additional 20 villas, priced between 9.9 million and 20 million Thai Baht, are now on the market. Presently, 70% of Highland Park Pool villas are owned by Thais and 30% by foreigners.

High-end pool residences, priced from 10 to 20 million baht, are particularly sought after by foreigners as second homes or retirement properties. These investment properties consistently deliver excellent returns, making them an ideal choice for affluent investors.

The Pattaya condominium market is experiencing a surge in demand, with prices set to soar in the coming years. The city’s priciest condo is on the market for 200,000 baht per square meter. Experts predict that within the next two to three years, the cost of condominiums in Pattaya will increase by 30% to 40%, reaching a staggering 250,000 to 300,000 baht per square meter.

This presents an opportunity for both Thai and foreign investors to acquire a second home with long-term income potential. Habitat Group has invested in eight real estate projects in Pattaya.

With its thriving real estate market and promising investment outlook, Pattaya is poised to offer significant value to high-income and wealthy individuals seeking to invest in Thailand.

SOURCE: Thaiger

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