R.E.S.T Real Estate Specialists Thailand Blog
2017 Pattaya report
Has it all been doom and gloom
In my humble opinion defiantly not there have bee some dips but generally 2017 has been a very interesting year in the Pattaya real estate market, but certainly not all doom and gloom as some like to make out.
In my opinion and the opinion of many of my friends and colleagues that work in the real estate market 2017 has been a very interesting year for the real estate market and Pattaya property market, we have seen some ups and downs this year in the market place, one of the biggest impacts in real estate was the Russian speaking buyers which grew at a remarkable rate of speed maybe to quick to be sustainable from 2008 to 2013 then a dramatic reduction in the Russian speaking buyers in the market after 2013. In the last quarter of 2017 we have seen a slight rise in the Russian speaking buyers again.
Russian speaking buyers were taken over by the Chinese speaking buyers, with the idea of buying the budget smaller condos at around 1,800,000thb, the Chinese mind set seems to be to buy cheaper budget condominiums but buy lots of condominiums, the majority of the luxury and middle range properties were bought by Thai, Singaporeans, Europeans and Japanese buyers.
The worldwide recession obviously had a impact on the real estate market in Thailand as it did in the Global scheme of real estate over the last few years, we have seen some developers cancel or postpone projects in 2017, this a good reason to look at the overall picture and say it is not all doom and gloom as there are other developers that have carried on regardless with their new projects with reports of very good sale figures reached from there off plan projects these are obviously reputable developers with vision of the future being a bright one in the Pattaya property market.
The real estate market in 2017 has not been solely condominiums and apartments private house sales and housing developments have recovered, with some new luxury development’s and existing projects reporting that sales are on the increase, we at R.E.S.T https://realestatespecialiststhailand.com/(Real Estate Specialist Thailand) have over the course of the year equaled out on sales between houses and condominiums,
Rentals have also been on the rise in 2017 with repeat rental customers and also new customers for vacation or extended stays, with the infrastructure improving and making all the outlying areas more accessible people are spreading there wings a little bit more than they used too, heading down the coast to Baan Ampur and Bangsaray and inland areas such as Huay Yai and Mabprachan lake.
The Pattaya Tourist has also changed drastically, once not so many years back it was a rare sight to see families on vacation in Pattaya the majority would be single men taking advantage of the relaxed Pattaya attitude cheap drinks and friendly Thai people,
In the present climate there are more families on vacation then ever before and Pattaya becoming more Family orientated and very children friendly, with ample attractions to keep the young and old amused at all times
Taking a look at the attractions that are now here in the land of smiles the old idea of Thailand’s reputation is vanishing it is not simply a destination for lively nightlife, which is still here and is one of the liveliest places to visit for the nightlife, but not the sole reason, in the Pattaya region you will find some fantastic beaches to relax on also island hoping is easy to do with private speed boats for hire or the many ferry crossings, international standard water parks, international standard Golf Courses , Cabaret shows, Magic shows, Ripples believe it or not, some excellent Cabaret shows to and fun tours to be seen.
And that is just the tip of the ice burg so to speak of the attractions to be found. There is so much for everyone.
If anyone reading this and would like to have a chat about Pattaya and the surrounding regeions feel free to send me a message.
Barry +66 08 99 333 583
Skype barry.rest Line ID 01barry30 Whats app 0899333583
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