Originally a quiet fishing village, Pattaya was transformed in the 1960s and 1970s by the arrival of US servicemen on R&R during the Vietnam War. Its subsequent reputation was built on booze and babes during that time and that continues to thrive.
However, today Pattaya has much more to offer. With more than 5 million visitors a year, it has emerged as one of Thailand’s most visited destinations and many expats have decided to buy property here. Upscale hotels and resorts, a variety of restaurants, numerous golf courses and even theme parks are just a few of the things to do. A watersport enthusiast’s playground with windsurfing and kiteboarding at the top of the list.
Pattaya property has become increasingly popular with foreign investors. Being mostly flat and very buildable real estate prices in Pattaya is less than you would pay in Koh Samui or Phuket. Developers have flocked to this area to meet the demand with low building costs.
Many expats in Pattaya have opted for condominiums due to the numerous facilities and location to the beach. Most foreigners now feel comfortable with the laws relating to the Thai Condominium Act which was set up in the ’80s to spur investment.
Foreigners investing in Pattaya property that involves land must understand that there are restrictions. Foreign land ownership restrictions in Thailand relates to land only and not to the building on the land. It is important to note that the land and any structure on the land can be owned independently (by different persons). Foreigners buying a home or villa in Pattaya can lease the land (obtain a right of superficies) and own the house as personal property. This ensures the owner will be on the back of the title deed as a lessee or tenant registered at the land office.
Around Pattaya, there is a lot to see and do, especially on the coastal roads south and north and among the numerous offshore islands. Getting around independently by car is becoming increasingly easy to do and this added to the congestion in and around Pattaya but nothing like Bangkok.
In 2017, Forbes rated Thailand in the top 10 places in the World to retire. Many who own property and reside here permanently would agree.