Pattaya Market on the Rebound?
Is the Pattaya property market set to rebound this year? According to a recent report by Pattaya One there are as many as 20 new condominium developments schedule to be completed in Pattaya and Jomtien by the end of the year.
While this may not be a clear indication that the market is rebounding it is a good sign. Especially since a few condominium projects were delayed or put on hold last year.
During the property downturn in Pattaya, many real estate companies decided to focus on other buyers with Thai, Chinese and Indian investors being targeted.
Pattaya One also noted that several developers believe these efforts are starting to pay dividends and have begun launching and building new projects in anticipation of greater demand.
In addition to the projects expected to come on to the market in 2016, a number of other projects will be completed in both 2017 and 2018.
According to the story, developers are embracing more ambitious design concepts that are equipped with innovative features to entice buyers to purchase properties in the still recovering market. Several of the new projects that are planned include resort-style hotels, family entertainment venues and retail shops in addition to the residences.
Experts have predicted that Thailand will become a regional transport hub and this could boost the demand for houses, condominiums and commercial real estate throughout Thailand including in Pattaya and nearby Rayong where several international companies are based.
Three new construction projects planned by the Thai government could also help lift the residential and commercial property sectors in Pattaya, Jomtien and Chonburi.
The new infrastructure projects include a new ferry pier to be built for a Pattaya to Pranburi route, a motorway connecting Pattaya to Rayong and a high-speed train line between Bangkok and Rayong.
If you are thinking of buying a property in the near future or just have some questions about the market in Pattaya please stop by one of our offices and talk to one of our sales staff.
216/62 Moo 10 (Soi 13) Soi Diana |
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| 519/163-164 Moo 6 Soi Siam Country Club |
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+66 (0) 38-421-580 Office |
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| +66 086-571-4737 Mobile |
You can also email us at info@coastalrealestatepattaya.com