Lack of completed supply still provides strong yields in central Pattaya
The eastern seaboard is the second largest contributor to
Thailandûs GDP and its economic growth has boosted property
over the last two to three years, with the areaûs major city,
Pattaya, at the centre of activity. However, property demand in
the city still depends largely on a successful tourism market,
making it more susceptible than Bangkok to a slower global
economy and internal political unrest. In fact, out of Pattayaûs
top five tourism contributors, Germany and Russia were the only
countryûs that put in a positive performance, while Thailand,
China and South Korea turned in double-digit drops in arrivals.
Much like tourist arrivals, condominium launches cooled in 2009
after a record H2/08, while the take-up rate sank to 35.2%, a
low not seen in four years. With the gap between supply and
demand widening, the average unit price began slipping from its
H1/08 peak to below the THB100,000/sq.m mark in 2009.
It is fair to say we see more glossy sales brochures and
property billboards than actual cranes in Pattaya, and the lack of
finished supply continues to guarantee strong annual returns in
the range of 5-7%. Mean while, resale prices in finished
properties are escalating to be more in line with current off-plan
prices.
Situated on the foot of Pattaya hill, Suan Chaloemphrakiat is a small fitness park dedicated to commemorate His Majesty the King’s sixtieth birthday on December 5, 1988. The gardens of the park have a wide variety of flowering plants. Number of people relax, jog or exercise in the park.
Wong Phrachan Beach: Located north of Pattaya Bay, the short beach is a quiet spot, It is nice for swimming and relaxation.
Most shops in Pattaya cater to this is where the demands of international tourists. Few tourists in Pattaya return without expending few bucks. Huge influx of tourists means that even small spending per day-tripper could translate into big earning for along with the shopkeepers.