What you need to know about Pattaya
Pattaya is one of Thailand’s most developed cities and is often compared to Bangkok in terms of amenities and lifestyle but with a more layback atmosphere due to its shoreline location.
The up and coming city attracts over 16 million visitors a year and is also a popular destination for retirees that require all the amenities that established western cities offer yet within a relaxed shoreline atmosphere.
The diverse city offers everything from modern high-end living, stylish shopping complexes such as the recently completed Terminal 21 and exclusive high-end hotels to typically native beach resorts, markets, and cheap street food eateries and Tours.
Pattaya is ideally located 100km from Bangkok and Suvarnabhumi Airport and only 30km from Pattaya & Rayong International Airport that makes it easy to reach and a perfect hub for both tourists and expats.
Pattaya is also part of the Eastern Seaboard known as the Eastern Economic Corridor (of Thailand) that the government has recently invested 1.5 trillion baht (US$43 billion) in to develop during the next 5 years. Companies such as Japanese branded automobiles are now manufactured in the area which has attracted foreign executives and further investment into the area and has created Job opportunities,
Types of Property in Pattaya
Pattaya features a wide range of properties that are suitable as both family homes and investments. The city center and some beachfront areas such as Na Kluea and Wongamat are now a metropolis of modern high-rise condominiums whereas areas slightly outside the city in villages such as Huai Yai offer a large range of private and secluded villa developments catering for varying budgets.
Budget properties are generally located in the east of the city away from the shoreline in areas such as Nong Prue and Map Prachan. Budget villas, Thai-style townhouses, and condominiums are on offer both brand new from developers and also on resale.
Jomtien and Wongamat/Na Kluea generally offer midrange to high-end properties to include exclusive beachfront condominiums projects where prices can range from around 80,000 per sqm to 200,000 per sqm.
The city center offers a wide range of properties in popular districts as Soi Buakhao which has recently become one of the cities most popular and vibrant areas. Modern developments within the city center such as The Base by Sansri and Centric Sea by SC Assets are relatively rare due to the large array of commercial properties and hotels that dominate the area. The more established and older condominium projects such as Markland Condominium that are situated within the city center are priced from around 65,000 THB per sqm whereas the modern new build project average around 180,000 THB per sqm.
The luxury end of the market predominantly comprises of extravagant beachfront pool villas situated in areas such as Pra Tumnak in developments like as Majestic Residence and hillside projects that offer stunning views of the Pattaya skyline in projects such as Siam Royal Hill on Soi Khao Talo. Some of the properties even have direct access to the beach.
The most exuberant condominiums projects such as North Point feature unparalleled penthouse units and world-class facilities such as branded beach clubs and renowned restaurants.
Top 5 Reasons Why To Invest In Pattaya
There are many reasons why both Thai nationals and foreigners are now choosing to invest in Pattaya. The following 5 points are the top reasons why:
- Connectivity. Pattaya ideally located on the shoreline of mainland Thailand only a 2-hour drive from the countries capital Bangkok. Recently completed motorways now make it possible for residences to commute to work from both Bangkok and Rayong which are regarded as the biggest business hubs in Thailand. The newly built Pattaya & Rayong International Airport is only a 40-minute drive from central Pattaya which will make traveling to all domestic and international destinations quick and simple. Travel around by sea and simply charter a boat and make the most of your time
- Healthcare. Due to high-quality service and competitive prices, Thailand has become exceptionally popular for medical tourism. Numerous hospitals and clinics specialize in both health and cosmetic treatments with the added appeal of recovery in a popular tourist destination. Top hospitals include the Bangkok Pattaya Hospital, Pattaya Memorial Hospital, and the Pattaya International Hospital.
- Education. Due to the steady rise and popularity of Thailand as an expat and retirement destination, the standard of international schools is rapidly improved and Pattaya is home to some of Thailand’s most reputable international schools. Top schools include Regents International School, St. Andrews International School, and Tara Pattana.
- Cost Of Living. Unlike some of Thailand’s most popular tourist destinations which have become as expensive to reside as some established western cities, Pattaya has remained an exceptionally inexpensive place to reside. It’s now possible to rent a modern 1 bedroom apartment only a 5-minute drive from the city center from around 6,000 THB per month. The cost of local cuisine has also remained exceptionally cheap with local restaurants charging around 60 THB for popular dishes. Due to the high competition of foreign restaurants international cuisine is also competitively priced with popular international dishes ranging from as little as 150 THB.
- Return On Investment. Due to the high influx of visitors and expats choosing to reside in the city, the demand for rental units has become exceptionally strong. Condominium projects within the city center generate average returns from around 6% whereas centrally located pool villas can produce returns up to around 12% if rented as short time/monthly holiday rental units. Various developers also offer hassle free guaranteed rental schemes up to 10%. Property values have also seen gains of around 40% during the last 5 years which due to further investments in and around the city is set to continue.