Looking to buy a condo or apartment in Pattaya for long-term investment but not sure where to start? You must consider the property market in Pattaya, as well as that of Thailand in general. Learn from our ultimate Pattaya property investment guide for beginners.
Investing in Pattaya Condominiums
Investing in real estate anywhere in the world may provide opportunities for both short-term and long-term returns. For new developments, it is not unheard of to see returns of up to 15 percent per year. If you choose to invest in a mature development, you could still earn several hundred dollars per month in rent.
When deciding to buy an apartment in Pattaya, it is important to consider where it is located as well as the demographics of the area. Ideally, you will invest in an area where demand is high and there are people who can afford a reasonable price to either rent or eventually purchase your property.
Condo Projects in Pattaya
If you are looking to buy a condo in Pattaya, you have several different developments to choose from. The City Garden Tower and Olympus City Garden are located in or near the center of the city, which makes it easier for those living there to access restaurants, clubs or cultural sites. These new developments incorporate the latest in style and technology to ensure that demand is high and that investors can get the most for their investment.
Pattaya Condominium Prices
Condo prices in Pattaya vary depending on how old they are, where they have located and the amenities that they may offer. Typically, they will range from $100,000 to about $1 million on the open market. It is important to keep in mind that condos must be purchased with local currency, which means that the final price may be different than the price an investor may be quoted.
This has to do with the exchange rate at the time an investment is made as well as other transaction fees that may be included. Using a Pattaya property guide may make it easier to find prices on the exact property that you want to invest in.
How to Buy a Condo in Pattaya
As a foreigner, the rules regarding a condo purchase are different than they are for locals. They are also different than what a person may be used to when investing in his or her home country. For instance, you likely cannot get a mortgage as a foreign investor, and condos must generally be majority owned by Thai citizens.
Therefore, it is recommended that you use an attorney or some other advisors when deciding to invest in a Pattaya property. They may be able to help you understand what to buy property for investment in Pattaya. For example, an attorney may help you read and understand a purchase contract or help you exchange your local currency for baht, which is the currency used in Thailand.
However, once you learn the rules, investing in Pattaya is just like investing anywhere else. Ideally, you want a property that has a track record of producing steady returns that meet or exceed your expectations. You also want to consider the political and economic conditions both in the country and the specific area where the property is located.
As an investor, it is important to have a diversified portfolio. Investing in real estate can help to achieve a level of diversification that can help to consistent returns in all types of economic climates. By investing in a foreign real estate, it can help to achieve diversification within that portion of an investor’s portfolio. Ultimately, this may make it possible to take advantage of emerging markets and the opportunity to outperform the market as a whole.