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Domestic demand boosts Pattaya condominium market

Date : (News Section: Thailand)

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Domestic demand boosts Pattaya condominium market
The market for condominiums in Pattaya, Thailand is healthy, with demand from domestic buyers helping to support the sector.

According to Knight Frank Thailand, local purchasers tend to target North Pattaya and the Wongamat district when looking for a property.

Meanwhile, South Pattaya is more popular among overseas buyers, with the firm noting an increasing number of Russians are investing in this kind of Thai real estate.

Knight Frank also observed that sea views don't necessarily translate into higher prices, citing a project in Pratumnak as an example. Here, condominiums have a lower value despite looking out over the sea because they are quite a long way from the beach.

Research published earlier this month by CBRE Thailand highlighted a similar trend in Phuket, with the organisation pointing to a new approach among developers to build condominiums that cater for local residents.

Chairman at CBRE Thailand David Simister stated that, although there has been an increase in the number of tourists visiting Phuket, it will take time before repeat holidaymakers enter the property market as buyers. 
 
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Article by +Steve Binge on behalf of Propertyshowrooms.com

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