Jul
1
There seems to be many people interested in buying real estate in Pattaya at the moment as there are new construction sites popping up all over the Pattaya and Jomtien area. Buying real estate in Pattaya can be a great financial investment if you buy at the right time and in the right location but it can be quite a risky proposition since the market seems to be flooded at the moment with numerous empty apartment blocks and new subdivisions full of empty houses with overgrown lawns.
Many people have reported making good money through buying real estate in Pattaya particularly off the plan either before construction of new apartment blocks has begun or part way through the construction phase. I have seen new apartments which have just been built in the Pattaya area selling for double the price once construction has fully completed. For these astute investors buying real estate in Pattaya has paid off with huge profits.
As many success stories as you hear about from investors who have made bucket loads of money through buying real estate in Pattaya, there are just as many people who have bought properties in Pattaya and have either not made a profit after trying to resell the property or have lost money in the process since the apartment or house they bought has gone down in value.
Buying real estate in Pattaya is a real buyers market if you know what you are doing and have the time to thoroughly check out the market and what is on offer. When you look at what you get in a newly built apartment or even an older one, it is usually a very good deal when compared to what you would get in most Western countries. If your plan is to buy a house or apartment in Pattaya and live in it indefinitely in most cases it would be a reasonably good long term investment as almost all real estate anywhere appreciates in time.
For those interested in buying property in Pattaya without such an emphasis on buying for the reasons of investment but simply to have somewhere to keep for a lifetime or have as a holiday home or holiday apartment, Pattaya in this respect is an absolute gold mine with loads of well priced houses and apartments with great facilities like full time security, huge communal pools and some have their own small shopping complexes as well.
If you have some spare money to spend you could get yourself a ripper of an apartment for somewhere between $50,000-100,000 US. This is an absolute bargain no matter how you look at it. You could also buy yourself a medium sized brand new house for around the same price. Obviously the more you want to spend the more you will get but for the amount I mentioned you could get something new and very livable, perhaps even with a view or a small back yard.
Foreigners looking at buying property in Pattaya can own an apartment in
For those foreigners interested in buying real estate in Pattaya or anywhere else in Thailand who only want to buy a house or house and land package you need to first open up a Thai company and have 51% of the company owned by Thai people. This is the law in
Al in all, for most people who have the time and patience and have a rough idea about what is and is not a good buy when it comes to buying property, the real estate market place in Pattaya is well worth checking out. If you live in Pattaya or are planning on living in Pattaya it might be a wise move buying your own place and right now there are tons to choose from in all price ranges, sizes and locations all over the Pattaya and Jomtien areas.