Pattaya’s properties are considered as some of the most attractive ones in the entire country. The local real estate market has grown at a rapid pace, much higher than the average of the rest of the countries.
To give you a better perspective of the current condition of the Pattaya real estate market, as well as what to expect from it in the future, we have made this mini-guide. Here you can find a list of the top five most important traits of Pattaya’s real estate market. That way, you will have a complete overview of it and will be able to make wiser investment decisions.
#5 The market is driven by foreign investments
There is no exact or official data on how big the percentage of foreign investments is, but it is more than clear that they are substantial. Chinese investments are among the biggest, and from what we have seen in the last few months, that trend is likely to proceed in 2020 as well.
#4 Government invests heavily in local infrastructure
Pattaya has grown from a small fishing town to one of the most prominent tourist centers in the country. Nowadays, it attracts millions of tourists each year and brings millions of dollars in the national budget.
The government is well aware of that, and a nice chunk of the national budget is re-invested in local infrastructural projects.
#3 Tourism has a significant influence over the local property market
Tourism is driving real estate growth like no other thing. 2020 is on track to be an excellent year for tourism. More tourist translates in higher property demand and improved ROI for real estate investors. According to many analysts, tourism is going to grow in the coming years as well. Every piece of available data suggests that Pattaya’s tourism has plenty of room for growth. The only uncertainty is which tourism branch will grow most and how that will affect the local property prices.
#2 Remote workers and digital nomads
More and more young people choose to travel and work remotely. Some of them work in companies that allow that, while others make a living as freelancers, independent of their location. There has been a surge of remote workers and digital nomads in the last few years.
Many choose to stay for a couple of months or more. Most of them are high-earners and like to stay in places featuring plenty of amenities. This trend is on the rise globally, and that is expected to reflect with new arrivals in Pattaya as well.
#1 Rich, retired expatriates choose to live in Pattaya
The excellent climate, friendly locals, and access to quality health services make many western retirees choose Pattaya as their new home. Some are renting, while others prefer to buy a place for themselves and their spouses. Their numbers are growing each year, and that influence the property prices as well.