Experts are increasingly pointing to Pattaya as one of Thailand’s most exciting rising property markets. The recent economic growth in the city allied to a forward thinking ambitious local government is driving property prices up, resulting in an increasing number of property industry experts predicting big rises in prices in the future.
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Thailand is currently cresting a wave of good economic news with industry leaders across the board predicting high levels of growth in 2013. Tourist numbers are at record levels with the industry expected to generate 2 trillion dollars in 2013. However across the board, business leaders are increasingly confident about the economy with a recent survey of CEO’s predicting 4.6% GDP growth in the coming year. {timg title:=”Pattaya Bay” thumb:=”images/stories/news/blog/img_0290-s.jpg” img:=”images/stories/news/blog/img_0290b.jpg” gal:=”gallery-content”} Pattaya is one of the spearheads of that growth with investment being pumped into the city’s economy and infrastructure. The city has always had a significant overseas population, with it currently standing at around 50,000. However, Pattaya is set to attract ever growing numbers of overseas residents which is likely to accelerate further in 2015 when the Asean Economic Community (AEC) opens up as a free trade area. The influx of more foreigners, as well as the growing numbers of middle class Thai who are managing the city’s business enterprises, is predicted to exert strong upward pressure on property prices particularly in the upper price ranges. Property expert, Dr Sophon Pornchokchai, the head of the Agency for Real Estates Affairs has said that city’s impressive growth has fuelled demand for property and will result in rising property values. Dr Pornchokchai believes that the buying strength from both Thais and overseas investors has remained strong. |
{timg title:=”Siam Royal View Villa” thumb:=”images/stories/srv/properties/pattaya/luxuryvillas/small/luxuryvillas2.jpg” img:=”images/stories/srv/properties/pattaya/luxuryvillas/big/luxuryvillas2.jpg” gal:=”gallery-content”} The continuing and expected rise in demand means that property investments in Pattaya are likely to show significant returns in the coming years. While many economies in the West are currently moribund, at best, capital is flowing towards Asia and the region is likely to remain the main engine for world economic growth. {timg title:=”Siam Royal View Villa” thumb:=”images/stories/srv/properties/pattaya/luxuryvillas/villasawan/small/villa%2012-7.jpg” img:=”images/stories/srv/properties/pattaya/luxuryvillas/villasawan/big/villa%2012-7.jpg” gal:=”gallery-content”} Pattaya is the ideal location for overseas buyers and not just from an investment perspective. The city is one of the most exciting and liveable in Asia, with plenty of world class attractions that will appeal to people whatever their interests. To all extents and purposes it is a dual language city where English is widely spoken and communication presents few problems for overseas residents. It is a city that embraces the international community as exemplified by the city’s mayor recently publicly inviting foreigners to come and set up home in the city. |