An article published recently the Telegraph, UK ranked Pattaya in the top twenty cities where foreigners should consider purchasing a second home. The article was written by The Telegraph’s senior journalist on real estate and tourism, Christopher Middleton. He conducted a survey to find which of the top choice of cities by foreigners for their second home and Pattaya was placed in the top twenty.
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After the results were published, opinions were quick to come from Pattaya residents and the local business community. Many felt that Pattaya was the perfect choice for a second home as it is only a bit over an hour’s drive from Suwarnabhumi International Airport, making it ideal for international travellers. It is, according to the locals, home to beautiful beaches and tourist facilities as well as a fantastic choice of food outlets. Other popular opinions emphasised that the beaches were not the only attraction Pattaya had to offer. With more than ten shopping malls spread throughout the city it is an attractive destination for people of all ages and both sexes. Other reasons people decided to choose Pattaya for a second or retirement home was the climate. The year-round warm weather is certainly a draw while the resort’s close proximity to the capital and all of the amenities Bangkok has to offer is yet another reason. Low-end houses in Pattaya are currently on the market for THB 6-10 million which, considering that price could get you a brand new house in a prime location, this is very cheap when compared with houses in the west. Luxury houses are rather in the THB 15 – 100 million range, which is still a bargain considering what a similar location, living space and quality would cost in other world destinations. At present many foreigners purchase condominiums, but if the laws are relaxed to allow purchase of houses on a longer lease term, there will be an upsurge in houses being purchased. This is especially true since at present, condos often command higher prices than houses with comparable space and luxury.
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As the Euro, Pound and Dollar are all weak just now; buying a house in Pattaya is a good investment. Coupled with the low cost of living and high standard of facilities available, there is no doubting that Pattaya has something for everyone, regardless of budget. Many residents agreed that a much needed improvement in the city is the road signs. The signs on the main roads are both in Thai and English, bu signs on side roads often are in Thai only, and with the vast number of tourists arriving on a daily basis, there is a need for signs to be erected in other languages as well, especially English. The quality of the buildings being erected is another area that needs to be improved, particularly at the low end of the market. Quality is available, but buyers have to examine the offerings carefully before making their decision to buy. The secretary of Pattaya’s Business and Tourism Society, Mr Sinchai Wattanasartsathorn, said that there were around six million tourists visiting Pattaya each year and many of them came because of the low cost of living as well as the activities, attractions and nightlife. He concluded by saying that buying property In Pattaya was cheaper than in many other countries. The availability of myriads of facilities and services catering to the needs of Western residents, and the existence of a huge community of Westerner, makes life in Pattaya indeed much easier than in practically all other tropical destinations. |