Local demand for condominiums in Pattaya has exceeded foreign demand for the first time in decades

Local demand for condominiums in Pattaya has exceeded foreign demand for the first time in decades

Demand for condominium rentals in Pattaya from foreign tenants peaked at the height of the last 2021 season, while an influx of local tenants supported the market during the first quarter of 2022.

Demand from local residents increased by 22.2% between the fourth quarter of 2021 and the first quarter of 2022, which coincides with the celebration of Songkran and other Thai holidays. On the other hand, foreign interest fell by 18.5% over the same period, with demand peaking in November and December.

The study showed that there are small differences in the demand for rental apartments in Pattaya depending on the demographic group. For example, apartment rentals ranging from 10,000 to 20,000 baht were most popular among foreigners, while locals preferred apartments with rents ranging from 5,000 to 10,000 baht.

However, both groups were overwhelmingly looking for studio apartments and one-bedroom houses in Chonburi. They accounted for approximately 75% of all rental requests in the province between October 2021 and March 2022.

Due to the further easing of restrictions on international flights, foreign demand for condominium rentals in Pattaya has been trending upward since February.

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