Real estate for sale in Pattaya
Today both Thai nationals and foreigners can purchase real estate in Pattaya. However, the process of buying an apartment or house has some restrictions for residents of other countries. For example, foreign property hunters can purchase property in Thailand only in residential complexes classified as freehold projects. As a rule, these are condominiums and gated communities with villas. In addition, foreigners can own no more than 49% of the total number of residential units in one project. Ownership rights are granted only for an apartment or house, and land is issued for long-term use for a period of 30 years with the right to extend. The same long-term rental is available for housing that does not have a freehold status.
Pattaya is a popular resort city in the southeastern part of Thailand. It is known for its many nightclubs, bars and excellent sandy beaches. Thanks to the warm tropical climate, the holiday season here lasts almost the entire year. The city has good infrastructure. There are various types of public transport here and Suvarnabhumi International Airport is an hour's drive from the center of Pattaya while Utapao Airport is 40 minutes away. A trip to Bangkok takes just 1.5 hours. All this makes local real estate popular with both buyers and tenants.
The city has a variety of real estate options, ranging from small studio units to luxury beachfront villas. You can also find profitable offers from developers including off-plan housing options. Apartments and villas in such residential complexes are sold at competitive prices, and developers offer interest-free instalment plans.
Among the popular areas for buying real estate in Pattaya are the following destinations:
- An area near Phattaya Beach, where there are shopping malls, a market, numerous cafes and restaurants.
- A microdistrict where the famous pedestrian boulevard Walking Street is located with a large number of nightclubs, bars, and restaurants.
- A quiet neighborhood located next to Jomtien Beach, well suited for a quiet family lifestyle and a relaxing holiday by the sea.
Property prices in Pattaya
The price of real estate in Pattaya largely depends on the location of the property. Apartments and houses in residential complexes located in the city center are usually more expensive than those built further away from the central districts. Housing within walking distance from the beach also tend to cost more. In addition, the price is affected by the year the building was built. New buildings are more expensive than secondary housing. If you want to buy a new apartment or villa at a discount, then we recommend choosing properties under development that are sold directly from the developer. The price for them increases as the work progresses and by the time the residential complex is handed over it can increase up to 30% of the original price.
In addition to the above reasons, the cost of property for sale in Pattaya, Thailand depends on such criteria as:
- A sea view from the windows;
- A swimming pool, gym and other amenities in the residential complex;
- A type of apartment or house layout;
- Total area;
- Quality of finishing;
- If there is any furniture.
In the city you can find both small low-budget studio units and spacious residences in the luxury segment. Today, the average cost per square meter of real estate in the central part of Pattaya is $1,954. Housing located away from the centre can be bought for an average of $960 per square meter.
Property investment in Pattaya
Thanks to the low cost of living, comfortable climate and developed infrastructure, many tourists prefer this city. Properties in Pattaya ensures high returns. In the central areas of the city, the ROI can reach 6–12% per year.
The main criteria for investment attractiveness in houses and apartments in Thailand are the stability of the country's economy, an acceptable level of inflation and a stable exchange rate of the national currency.
Foreign nationals can purchase property in Pattaya for investment and rent it out remotely through an intermediary such as a management company. The latter takes care of all issues related to finding and checking in tenants, housing maintenance, minor repairs, etc. The investor simply receives money.
There are different options for cooperation with a management company. This could be receiving a guaranteed annual income, dividing profits among all owners of the residential project, or receiving a fixed income in combination with dividing a certain amount of profit between the owners.
Buying property in Pattaya
Before buying an apartment or villa in Thailand, it is important to study all the options available on the market and choose the most suitable one in terms of price, location, quality of construction and other significant parameters. Our property database includes the latest offers from trusted developers and agencies.
Using search filters, you can select properties in the desired price range, as well as select an apartment or house by area, number of bedrooms and many other characteristics.
You can also select apartments and houses from a specific developer or agency. Each property listing contains information about the technical characteristics of a unit, its real-time cost, contact information of the seller and photographs. To quickly find your ideal housing, contact our team using an online contact form.