Pattaya’s proximity to the Thai capital, lengthy beach promenade and great nightlife have made it a favourite destination for both local and international holidaymakers, but recently more and more people have been looking to move there permanently. Part of the reason for this is the city’s growing luxury property market, which has been attracting investors with its ocean-view properties, luxury condos and resort style communities.
If you are looking to invest in high-end real estate in Pattaya, here are the tips you need for the best chance of success.
Research and Understand the Market
It is important to understand the dynamics of any market before you invest. Who is buying? Who is selling? How much are properties trading hands for? What kinds of properties are most popular right now?
When it comes to luxury homes for sale in Pattaya specifically, you should note that foreign investment plays a major role in the market, with many European, Russian, and Chinese buyers. Many of the properties are wanted for use as holiday or retirement homes. Knowing facts like these can help inform decisions like which property agent to use if you want to sell your property in the future.
Choose the Right Location
Pattaya itself is attractively located, on the coast only a short drive from the Thai capital of Bangkok and plenty of fun attractions for families. But like all cities, it is divided into a variety of different areas with their own characteristics. Some of the popular areas for luxury properties in particular are Pratumnak Hill, which offers plenty of sea views and easy access to two of the area’s most popular beaches, Wong Amat Beach, which is quieter and more exclusive, and central Pattaya, which offers the best proximity to the city’s malls, nightlife and entertainment.
Put Quality First
Quality can vary between construction projects, so try to look for developers with a good track record of building durable, high-quality properties. These really matter if you plan to sell your property again in the future or rent it out, so make sure that high-end materials are used. Visit if you can, or ask for detailed specifications and a virtual tour if you are overseas.
Respect the Foreign Ownership Rules
Owning property in Thailand can be a challenge because land ownership to non-Thais is restricted, and although condos can be owned outright, there is a limit to how many in each building can be foreign-owned. There are legal workarounds to the former issue such as buying through a Thai company or leasing the land, but make sure you understand these well before parting with your money.
Work with Trusted Local Experts
Like property transactions all over the world, Thai real estate deals involve a lot more people than just the buyer and seller. You will certainly need an agent and a legal advisor, but there are also property consultants who can help you with market research, finding opportunities, and guiding you through the process.
Conclusion
Many people have successfully purchased their own slice of tropical paradise in Pattaya, and you can too if you follow these tips and welcome the advice of reputable local experts.
