Lifestyle and investment properties in Thailand have always been a popular option for overseas buyers, with inner-city areas like Bangkok previously being the destination of choice for investment properties, and popular resorts like Phuket a pull for those wanting an idyllic holiday home. Yet the tides are changing and the beach-front city of Pattaya is rapidly moving into the spotlight. “The property market in Thailand has continued to strengthen,” comments Lee Chettoe, Senior Property Consultant at Knight Knox International. “The floods last year merely shifted the focus of investors from Bangkok city centre over to Pattaya, which is currently the fastest-growing city in Thailand.” Pattaya is certainly a city with huge investment potential, particularly as the eyes of the world will be turned towards the Asian city in 2015, when it becomes the central hub for the launch of the Association of South East Asian Nations (ASEAN). Chosen for its reputation as a safe city with a strong infrastructure and easy international access, it was also the ideal choice because English is the official language of the 10 ASEAN member nations and Pattaya already has many English newspapers, TV stations, radio stations and internet sites. Reinforcing the strength of the Pattaya property market, Chettoe also says, “There has been a noticeable uplift in the amount of enquiries we have received for apartments in Pattaya, particularly from British investors, which has allowed us to expand our portfolio considerably, to cater for the surge in demand.” Speaking to agents on-the-ground in the city is encouraging, as it appears that all available land plots are being cleared in preparation for future projects which are needed to fuel sales. In turn, this will boost tourist numbers and provide work for overseas relocating industries, increasing the number of ex-pats and foreign workers looking for second homes. One such agent, Andy Moss, Director of CPA Developments, has worked in Pattaya for the past three years and is confident in the sustainability of the market in Pattaya, saying, “The predication of the market slowing down is one prediction that could not be more wrong. Sales numbers increase every month and new developments appear on a weekly basis, to the point where land sales and prices are at an all time high.” In spite of recent events, the country has shown rapid signs of recovery after the heavy floods last year, which devastated parts of Chao Phraya and Bangkok and put a huge strain on the tourism industry which they so heavily rely on. The investment opportunities in Thailand are endless, even more so now with the proposed building of a new four-lane Superhighway from India, which will allow merchants and tourists a direct route from Assam through to Burma, Thailand, Cambodia and Vietnam. The CBRE Asia Pacific Retail Capital Value Index also rose by 3.4% quarter-on-quarter at the beginning of 2012, further highlighting the increased demand for investment in the Asian markets. When you also take into account the current stability of the Thai Baht and the recent CBRE prediction of the country’s GDP rising to 7.3 % in 2013, investors will be hard-pressed to find a country riper for investment. Knight Knox International Pattaya Properties A specialist at selling property in Thailand for many years, Knight Knox International currently has numerous developments available in Pattaya, ranging from beach-side apartments to luxurious investment condos. Two of the hottest developments currently on the market are: Laguna Beach Resort II: Following on from the winning formula of Laguna Beach Resort Jomtien, this four-building condominium is undoubtedly one of the most exciting developments in Pattaya. With eye-catching landscaping, lagoon-style pools and in-house massage sala, the Laguna Beach Resort II is a five-star resort-style development which is perfect for either a buy-to-let investment or luxury holiday home. Feel Ture: Comprised of 301 stylishly designed apartments, the development is only a short walk from the idyllic Jomtien Beach and downtown Pattaya. Ideal for a long-term rental investment, the complex has been designed to encourage a close-knit community and includes resort-style facilities including; 24hr security and CCTV, rooftop Jacuzzi, two-fully equipped gymnasiums, a first-floor running track and ground-floor swimming pool. For further details on either property, or information on the full range of investment opportunities available in Thailand, contact Knight Knox International today on +44 (0)161 772 1370.
Why Investors are Flocking to Pattaya
Already a popular tourist destination and ex-pat hot spot, Pattaya is quickly becoming the jewel in Thailand’s crown as investors flock to coastal cities in the aftermath of the recent floods in Bangkok, reports property investment firm Knight Knox International.