Thailand’s premier luxury condominium developer Raimon Land has released
Why Invest…Pattaya, an unprecedented and in-depth examination into the
residential property market in Thailand’s top beach resort and its
vicinities.
Raimon
Land CEO Nigel Cornick says “Pattaya offers investors a tremendous
opportunity.”
Why Invest…Pattaya reveals that investors in premium high-end
condominiums are achieving significant capital gains and rental returns,
buoyed by a booming local economy and upmarket tourism sector.
Raimon Land CEO Mr Nigel J Cornick said the report’s findings point to
fertile ground for astute property buyers.
“Pattaya offers investors a tremendous opportunity to realise both strong
short-term gains as well as long-term growth through investments in grade A
condominium developments, along with a host of active outdoor lifestyle
options,” he said.
According to Why Invest… Pattaya, investors have turned over
condominium units, such as those at Raimon Land’s 187-unit Northshore
launched in 2004, for returns as high as 30% the following year with some
purchase prices jumping to 40-50% in 2006.
“This shows no sign of slowing down with only a limited supply of high-end
developments available on the market, and the traditional buying markets of
the UK, America and Scandinavia being supplemented by strong interest from
Eastern European countries including Russia,” said Mr. Cornick.
The report notes that Pattaya’s buoyant condominium sector saw the average
price rise 52% from the THB59,000 per square metre (psm) achieved in 2004 to
a THB89,842 psm average in 2007. It further reveals promising rental returns
in low-risk, long-term investments with 9-12% annual yields already being
achieved at Pattaya’s Northshore condominium.
Why Invest...Pattaya spotlights other key indicators behind the
momentum driving the residential real estate sector. Chief among these is
its growing allure as a destination, with tourist numbers climbing from 6.1
million in 2006 to around 6.85 million in 2007, sealing its position as
Thailand’s top resort destination.
Pattaya is also in the heart of Thailand’s fastest growing regional economy.
The Chonburi and Rayong areas along the eastern seaboard have seen their
economies grow 12% from 2005 to 2006.
Raimon Land Vice-President Research and Development Mr. Simon Dervillé said
Why Invest…Pattaya would be of great use to potential investors in
the eastern seaboard to learn more about the opportunities available.
“It puts forward strong and substantiated evidence as to why the destination
offers a compelling opportunity for investors, be they retirees, businessmen
or someone looking for a second home,” Mr. Dervillé said.
Why Invest...Pattaya is available for downloading at:
www.raimonland.com
