Forecast on Pattaya Investment Condominiums for Sale
Many investors have their eyes focused on the condominiums for sale market here in Pattaya for investment purposes. With the news we hear and see everyday many wonder is this the right time to invest or should we wait. We see many pros and cons for each, but here is a quote from an Article by Knight Frank.
“The Pattaya market, Mr. Frank Khan, Executive Director, Head of Residential, Knight Frank Thailand, said the developers have slowed down in launching new condominium projects during 2016. Developers have tried to clear the remaining inventory by offering a guarantee rental return of 5 to 7% during the first three years when the buildings have been completed. Russians were the main buyers in the Pattaya market but the numbers of such buyers have been declining steadily since the Ruble currency crisis directly affected Russian visitors, decreasing their purchasing power. However, the emerging buyers of Pattaya condominiums are Chinese. This reflected the number of Chinese tourists visiting Pattaya, which has increased by 15%, whilst the number of Russian tourists visiting Pattaya dropped by 50%. Chinese investors started buying condominiums in Pattaya for investment.
Mr. Khan forecasted that Pattaya would be a town that has very high potential in the future due to the fact that there are several positive factors concerning Pattaya as a city and Pattaya properties. These include infrastructure developments, which refer to the train from Bangkok to Pattaya, the monorail train in Pattaya city, the Dual Track Train from China to Pattaya, Pattaya-Hua-Hin-BangPoo Ferry, and U-Tapao International Airport. Moreover, Pattaya is close to Rayong, Chonburi and Lamchabang Sea Port that house many industrial estates, which are essential in terms of cargo transportation, tourism and industry development. There are many management level personnel working in the industrial estates in Rayong, Chonburi and Sri Racha. With complete facilities and amenities, such professionals working in said locations will choose to live in Pattaya.
I agree with this 90%. The Chinese have flooded the city, but the Russians are coming back and Indians and Thais are now investing quite heavily. We tend to see more individuals and groups buying condos for sale with rental investments in mind rather than the individual buyers buying a retirement or holiday home. With the Euro and GBP exchange rates dropping every day we do not see, or expect to see, as many European buyers as we did before. With this in mind most developers have now refocused their target markets and strategies. Guarantee Rental return programs have been offered by many Developers and have been successful in some cases, but you must do your research first. In many cases it may be more beneficial to join a rental pool system or rent individually with the local agents that focus primarily on rental properties. The returns can easily range from 10-12% and increase over the years, whereas a standard rental guarantees will lock you in to a rate, and a time period, that may or may not be to your advantage. Discuss this in depth with your agent or the developer to see which option will work best for your situation.
Pattaya has become the place to go for the Thais from Bangkok for a quick getaway and especially the long weekends. With so much to offer and traffic scarce to what they have to deal with daily it has become increasing popular. If you have a look around the city you will see many New shopping centers and family attractions being built. This is a good sign of times to come. They have even begun Terminal 21 which will be the largest Shopping mall located just about 5 minutes from our City Center Residence project, and not most than 10 minutes from most other projects we have built.
So if you are looking to find a weekend getaway or a rental investment condo for sale, feel free to contact us for more info and have a look at a few of the options we have on offer. www.matrixpattaya.com
Everyone has their own opinion and some will make good deals and others fall into a bad one. Do your research when you are looking for a condo for sale first, and then you decide whether this is the time to buy. Then find the property that offers you exactly what you are looking for. Deals are out there to be had now, don’t be afraid to ask. Please feel free to contact us for any questions, comments or advice that you may have or need on Condominiums for sale in Pattaya.