Pattaya Property for Sale and Pattaya Real Estate
Pattaya Property for Sale
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 somewhat still continues to thrive in Pattaya, Thailand.
However, today Pattaya has much more to offer. With more than 9 million visitors a year, Pattaya has emerged as one of Thailand’s most visited destinations. Pattaya is a popular place for both foreigners and Thais. Just 150 km southeast of Bangkok or about a 2-hour drive from the International airport, Pattaya is a popular beach town on the Gulf of Thailand.
Pattaya has upscale hotels and resorts, a variety of restaurants, numerous golf courses, and even theme parks. These are just a few of the things to do and see. A watersport enthusiast’s playground with windsurfing and kiteboarding at the top of the list. With over 20 diverse golf courses to choose from, Pattaya is a very popular destination for golf holidaymakers from around the world.
But what puts Pattaya on the map is its famous nightlife. This city comes alive when the sun goes down with neon signs, discos, clubs, bars, go-go's, and wild entertainment. This is spread over multiple areas each offering an assortment of options with the most popular being Walking Street which is bright and brash. Pattaya has quite the reputation around the world for nighttime naughtiness.
Around Pattaya, there is a lot to do and see, especially on the coastal roads to the south and to the north, and among the numerous offshore islands. Getting around independently by car is becoming increasingly easy to do and this adds to the congestion in and around Pattaya but nothing like Bangkok. The public bus system is good in Pattaya.
Pattaya Property for Sale
Many ex-pats have purchased Pattaya condos for sale to live in or rent out or both. Most foreigners now feel comfortable with the ownership laws in Thailand. This is due in part to the Thai Condominium Act which was set up in the ’80s to spur foreign investment.
Similar to Phuket, foreigners arguably have the biggest influence on the Pattaya property market, and prices in these two markets differ wildly. Pattaya condos for sale can be as much 30-40% less expensive than in Phuket for the same size condominium. Pattaya does not have the building height restrictions Phuket has. Some Condominiums in Pattaya are 50+ floors whereas Phuket has a building height restriction of 23 meters (8 floors) in coastal areas and 45 meters (16 floors) in town.
Growth in the Thailand property market has been on a consistent upward trend. A significant reason for this is the number of foreigners coming to live in places such as Phuket, Bangkok, Chang Mai, and Pattaya. Thailand has witnessed a shift in the groups buying property, with the most significant market movers now being Chinese investors. This might change in the near future if the China-US trade war does not improve. Russians are also big investors in Pattaya property for sale.
Foreigners investing in Pattaya real estate in which land is involved comes with some restrictions. Foreign land ownership restrictions in Thailand relates to land only, and not to the buildings. 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 freehold personal property. Purchasing Pattaya real estate in this way the foreigners name will be on the back of the title deed as a lessee registered at the land office.
Pros and Cons of Pattaya Real Estate
Thailand Rated Top 10
In 2017, Forbes rated Thailand in the top 10 places in the world to retire. This is not the first time that Thailand has made the list and many who own property and reside here permanently would agree that Thailand's top 10 ratings are deserved. As far as the areas in Thailand to reside, Pattaya is considered a viable option for retirees and people wanting to stay on a long term basis in Thailand. With Phuket real estate becoming more and more expensive, Pattaya property for sale and or Pattaya condos for sale might be an alternative for some investors and retirees.
For real estate assistance in Pattaya, we like to work with Coastal Real Estate. They have a friendly staff of Thai professionals with local real estate knowledge.