Apartment/Flat Description
Park Residences, Thai Apartments
1 Bedroom Apartment in Thailand
A designer apartment building offering an exclusive, but affordable, range of one and two bedroom apartments set over 8 floors with outright foreign ownership available. Erected on the famous Pratamanak Hill in Pattaya, located near the beach front of Pattaya and Jomtien, Don Tang and Cosey Beach, this building has all it takes to be a desired residence. With its rooftop gardens, pool, jacuzzi & sun lounge, this development boasts a prime location and has brilliant sea views reaching as far as the eye can see. You can even see the islands that seem randomly arranged in the turquoise blue sea.
Pratamanak Hill is a highly regarded, much sought after residential area. It is peaceful with green, lush patches of palms and the beaches are just minutes away in either direction. Not far from Pattaya's Walking Street, with it's wide variety of shopping centres, restaurants and coffee shops and Down Town Pattaya, this area enjoys all benefits of being centrally located. Nevertheless, the direct surrounding neighborhood is surprisingly quiet and pleasant.
Located only only one hour from the new Bangkok $4billion International Airport and less than two hours drive from Bangkok itself, Pattaya enjoys a strategic location. It is estimated that after the completion of the new motorway which is currently under construction, this journey will be reduced to 90 minutes. This will add to the general regeneration of the property and tourism sectors which is currently seeing a rising demand for residential units.
It has been noted that there appears to be a changing trend, with more demand for apartments and villas rather than hotel accommodation. The developer is also estimating capital growth at an annual rate of 15%.
Pattaya is known as the Thai Riviera and is regarded as one of Asia's top beach resorts located on the east coast of Thailand. Pattaya caters for all types of tourists, family groups, single travellers and those looking to dive and explore the islands and shiprecks in the area. There are white sand urban beaches with sports facilities all just metres away from bars & restaurants. There are also twenty international standard golf courses within an hour of Pattaya. Other attractions include temples, zoos, horse riding and other leisure facilities.
The development offers a year round resort, as Pattaya's location on Thailand's coast to the east of Bangkok means it does not suffer from adverse weather conditions or monsoons. After analysing reports and information for the region, including those conducted by Raimon Land & Jones Lang Lasalle, the developer advises they now expect condominiums such as this to generate an average annual rental yield of 12%.
The Developer provides a property management company which offers a comprehensive property management service with a choice of three management options, to enable the maximum rental potential to be earned from investment in their projects. In addition they have a commitment to the resale of the apartments on completion, which will be via on-site operations managing internet site and membership to an established network of
real estate companies within Thailand. The availability of 49% foreign freehold allows direct foreign ownership of units which is a rarity in the Thai property market.
2006 saw international tourist arrivals reach 13.4million with the Tourism Authority of Thailand (TAT) projecting continued strong growth of 7% for 2007, calculating a total of 14.8 million arrivals. The tourism market has experienced a dramatic change to normal trends, witnessing a substantial increase in longer term rentals.
Thailand is already a known tourist destination and is recognised as a preferred location in Asia to buy a second home. The
