Pattaya’S Real Estate Market – A Review

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Pattaya’s Real Estate Market – A Review

PATTAYA: -- You could almost hear the collective gasp of relief from the surviving real estate agencies around the town as we hit high season.

The many unfortunate off-plan buyers in pie-in-the-sky condos in Pattaya’s boom days, who are still holding on to worthless sales contracts from “postponed” , bust or otherwise unbuilt condos must be uttering cries of pain, as another year passes with nothing to report on many of Pattaya's stalled schemes, and with their deposits even less likely to be returned.

Trying to work out what's really going on in the Pattaya real estate market, I recently talked to a few reputable, long-standing agents in Pattaya, to try to understand what's selling, who's buying and where the market is heading.

I thought it would be easier to read under the various headings below.

Pattaya real estate market split

The Pattaya sales market seems to be split between a narrow section of high end sales (sales of over 10 million baht, many over 20 million baht and some considerably higher than that), and cheaply-priced units, both condos and houses, at the 2 million baht mark, and often considerably below.

Sandwiched between them is the middle bracket, a mass of condos and houses, many of which were bought at high prices, and which are proving hard to get rid of, as private sellers refuse to discount sales prices.

Much stock in this category is owned by developers offering what they think are good deals for old, unsold units in their developments, but they are increasingly being eclipsed by a new generation of better and cheaper offerings elsewhere.

Full article HERE

-- IN PATTAYA NOW 2011-12-17

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