Apartments for sale in Pattaya
Today, many foreigners are thinking about buying an apartment in Pattaya, Thailand. A large resort city with excellent infrastructure, sandy beaches and a developed transport system is attractive to both tourists from all over the world and expats who choose to live in a warm climate by the sea. Some expats live here permanently, while others come for a few months. Pattaya is often chosen by investors who want to safely invest in rental property and receive passive income every year.
Foreigners are allowed to buy property in Thailand, but there are some restrictions. For example, non-residents have the right to buy only those Pattaya apartments that are located in a freehold residential complex. Moreover, foreigners can own maximum 49% of the total number of units in such a residential complex.
In a non-freehold apartment building, a foreign property hunter can only buy the right to long-term use of real estate. The minimum long-term lease period is 30 years. It is allowed to extend the period for another 30 years twice. Thus, the maximum period for which a foreigner is granted the right to use housing is 90 years.
In the Pattaya real estate market you can find a wide range of apartments:
- Studio units are small apartments where there is a kitchen, living room area and bedroom in one room. Studio units have a separate bathroom and sometimes a balcony.
- Apartments are spacious residences with a number of bedrooms from 1 to 5. Classic layouts usually include an open kitchen combined with a dining area and living room. In modern apartments, each bedroom has a private bathroom, a built-in wardrobe and sometimes a balcony.
- Penthouses and duplexes are rare types of high-end apartments. Penthouses occupy the upper levels of multi-storey buildings, thanks to which the windows of such residences offer amazing views. Duplexes have 2 floors, making them a convenient housing option for a large family.
To save on buying real estate, you can choose a property under development. Developers offer residential complexes that are in the early stages of construction at a competitive price. Off-plan Pattaya apartments for sale can increase in price by up to 30% by the time construction work is completed.
Prices for apartments in Pattaya
The cost of flats for sale in Pattaya depends on many criteria. The main ones are:
- location in relation to the city center and the sea coast;
- views from the windows and type of layout;
- total living area;
- if there is a balcony;
- quality of interior finishing;
- if there is any furniture;
- additional amenities of the residential complex: hotel services, a swimming pool, a restaurant, a spa, recreation areas and much more.
Apartments in the center of Pattaya are the most expensive. The average price per square metre of real estate here is $1,964. In areas far from the city centre, the average cost per square meter of housing is $964. In the location you can find quite budget apartment options. For example, a studio with an area of 32 m², priced at $20,000. Premium apartments in Pattaya are also widely available. A 150 m² 4-bedroom residence in an upcoming residential complex is on sale for $1.1 million. A new residential complex is being built 250 meters from the beach. Future residents will have access to luxury amenities.
Investment apartments in Pattaya
Buying an apartment in Pattaya for investment is a great way to ensure guaranteed passive income. Investors can purchase either ready-to-move-in housing with full finishing and furnishings or a property under development. In the second case, the price of an apartment will be more affordable, and you can choose an interest-free installment plan.
Foreign investors often prefer apartments and studio units located in condominiums and serviced apartment complexes. Such residential complexes usually provide additional amenities and hotel services, which attract potential tenants.
By concluding an agreement with a management company, the owner of an apartment in Thailand can rent it out even without staying in the country. The company finds tenants, maintainthe property and can be responsible for many other things. There are different types of homeowner-management company agreements. For example, receiving a guaranteed income of 5% or more per year, dividing the income received from renting out housing in a residential complex between the owners and the management company, and other options.
Buying an apartment in Pattaya
Many buyers of apartments and villas in Thailand prefer Pattaya. The city’s high popularity is ensured by its proximity to Bangkok and international airports, high-quality transport infrastructure, a range of international schools and modern shopping malls, high-class medical institutions, golf clubs and many other facilities. The regional development plan includes the construction of a high-speed railway between Pattaya and Bangkok, which will also be a definite plus for local residents.
Those planning to buy apartments in Pattaya should study all the available market offers in order to choose an option with the best value for money. For your convenience, our website the latest property listings from trusted developers and agencies. You can easily sort units by cost, area, location and other parameters that are important to you. We constantly update our property database to ensure our customers the best experience and make buying housing smooth and easy.