Leading real estate developer Habitat Group Co. Ltd. claims that Russian and Chinese purchasers are the reason why property in Pattaya, in eastern Thailand, is selling like hotcakes.
Chanin Vanichwong, chief executive officer of Habitat Group, highlighted today that there is a rising demand for Pattaya real estate from both Thai and foreign clients. Given that 23 million foreign visitors are scheduled to visit Thailand this year, with Bangkok, Phuket, and Pattaya as the top 3 tourist attractions, demand from the international market is only anticipated to grow over time.
According to Chanin, foreigners control 45% of the real estate in Pattaya while Thais possess 55% of it. The initial 20 pool villas at Highland Park Pool Villa Pattaya have all been sold, and 20 additional homes are now on the market for between 9.9 million and 20 million baht.
“Today, it takes just 90 minutes to reach Pattaya with ease. It is a city that can meet a range of requirements. It is both a top tourist destination and a labor source for the Eastern Economic Corridor (EEC) region.
Habitat Group decides to develop projects that concentrate on “Lifestyle Investment,” which refers to buying as an investment and renting to tenants, as well as “Holiday Homes,” which are second homes for families or to be moved into after retirement. This decision is made because of the potential of this outstanding location. The buyer will reap financial rewards (Yield).
According to Chanin, the ownership of the Highland Park Pool villas is currently split 70% Thai and 30% foreign.Pattaya pool villas sell well for 10–20 million Thai Baht. They are purchased by foreigners as retirement or second homes. Investment-grade real estate keeps expanding steadily and producing healthy returns.
“As tourists began to travel to Pattaya again, demand for condos began to rise. The priciest condo currently for sale in Pattaya is listed at 200,000 Thai Baht per square meter.
“It is predicted that the cost of condos in Pattaya will increase by 30%–40%, or roughly 250,000–300,000 baht, over the next two to three years. As a result, this is a great time for both Thais and foreigners to invest in a second house that will bring in money over the long term.
The Ville Jomtien, X2 Vibe Pattaya Seaphere, X2 Pattaya Oceanphere, Bayphere Hotel Pattaya, Bayphere Premier Suites, Wyndham Atlas Wongamat Pattaya, Bluphere Pattaya, and Ramada Mira North Pattaya are just a few of the eight Pattaya real estate projects in which Habitat Group invests.
