Pattaya is a vibrant beachfront city lined with mind-blowing architecture and luxury hotels. The condominium market is extremely popular with investors in the area, with the second half of 2012 seeing the launch of over 7,000 new units and a take-up rate as high as 69%.
Travel 150km north and you will arrive at Bangkok; a city abundant with magnificent palaces, grand temples and traditional street markets. These features have helped its tourist status grow to an unconceivable level, as shown by a recent accolade awarded to Bangkok by the Travel & Leisure Magazine, who voted it the best city to visit in the world in 2012.
Thailand’s ambitious program to invest US$72 billion on a raft of infrastructure projects over the following four years has shown that Thailand is certainly not feeling the chill of the global economic crisis.
The main initiative of the plan is an expansive system of rail networks connecting Thailand’s major Northern provinces, including Chaing Mai and Bangkok.
The Bangkok Post reported that January alone drew 25 billion baht ($811m dollars) into the country, resulting in a breath-taking year-on-year increase of 68.58%.
These infrastructural plans, which are expected to improve accessibility across the country, are set to aid Thailand’s already-thriving tourist trade. The Ministry of Tourism and Sports reported that over 22 million tourists visited Thailand last year, holidaying mainly in the popular regions of Pattaya and Bangkok.
These popular holiday regions are both undeniably bustling cities; however they each have their own distinctive features worthy of investment.
“The Thai condo market is booming at the moment”, comments Lee Chettoe, Sales Manager at Knight Knox International. “The country’s new infrastructure project has helped transform the condo market in cities like Bangkok and Pattaya, and this increase in demand for property has led us to take on the luxury development Chaophraya Condos in Bangkok as well as many other projects throughout the whole of Pattaya.” This increase in property investment is set to rise with the imminent arrival of the Cartoon Network Water Park.
Chettoe further comments “Over the past 12 months we have also found that investors are broadening their horizons and starting to look more further afield than the traditionally popular regions in Pattaya, towards the more tranquil area of Bang Saray; either looking to retire or for a peaceful holiday destination”.