Pattaya's Luxury Condominium Market Booms

[LaoPo]

Pattaya's luxury condominium market booms

" Pattaya- Thailand sold 16.6 billion baht (461 million dollars) worth of beach-front condominiums last year, of which 49 per cent were sold in Pattaya, the kingdom's oldest beach resort, a leading property developer disclosed on Friday. "Pattaya has led the way as a resort destination for condominiums," said Nigel Cornick, chief executive office for Raimon Land, a developer of several luxury condominium projects at the beach resort such as Northshore, where starting prices ranged between 5 to 7 million baht (138,900 to 194,400 dollars) per unit. "

Story here:

http://rawstory.com/news/2006/Pattaya_s_lu...t_02092007.html

LaoPo

[HowardJohnson]

I just wanted to bounce this as it was in danger of slipping off page 1 and I think it is worth taking note of.

There's a lot of people out there at the moment who are full of gloom and doom about the property market but this report goes some way to show that, for the right unit, there are still buyers out there.

Pattaya is unique as a market and I am pretty confident that it will continue to remain lively, if not on the same level as the last few years, but it certainly still remains a good choice for investment.

HoJo

[monty]

I know quite some real estate brokers, and one thing they agree on is that the condo market is pretty strong.

Unfortunately this is not caused by the condo's being especially good value or so, but by the fact that there is way too much uncertainty and risk associated with buying land and houses resulting in people originally interested in a house turning towards the condo market (the 49% allowing outright foreign ownership anyway)

[Artisan]

Pattaya's luxury condominium market booms

" Pattaya- Thailand sold 16.6 billion baht (461 million dollars) worth of beach-front condominiums last year, of which 49 per cent were sold in Pattaya, the kingdom's oldest beach resort, a leading property developer disclosed on Friday.

Shouldn't that honour go to Hua Hin? Hua Hin became popular as long ago as the mid-1920's when the resort was linked by railway to Bangkok.