Flooding in Bangkok has spurred a boom in the Pattaya real estate market and is contributing to swift sales across the board.
A recent example of the renewed interest in Pattaya is the announcement from Raimon Land that the North Tower of Zire Wongamat, their freehold project located on Wongamat Beach, is now completely sold out less than one year after the project was launched.
Strong demand in the Pattaya Market is expected to continue well into the New Year as Thai and foreigners alike invest in second homes within a short drive to both Suvarnabhumi Airport and downtown Bangkok.
Whether it took a natural disaster in the form of devastating flooding in the greater Bangkok area, or demand was poised to heat up anyway, is debatable. What is undeniable, however, is that the Pattaya real estate sector in the last quarter of 2011 is red hot, and there is little sign of it slowing.
One only has to look at the success of the Zire Wongamat project on Wongamat Beach for confirmation of the attractiveness of North Pattaya for both Thai and foreign property buyers looking for a second home in the Pattaya area.
Launched less than one year ago, the project’s North Tower is completely sold out and two thirds of the total project’s 480 units have now been purchased, With prices for the beachfront units averaging only Baht 99,500 per square metre, it is easy to see why a project like Zire Wongamat has been enjoying much of the spotlight in 2011.
While Pattaya is clearly Booming, today’s buyers are more discerning than ever. No longer are they focused merely on price, but no the entire package, the perks, and value added amenities with an affordable price tag. Looking at how quickly Zir Wongamat is selling, they appear to have achieved a winning formula with the public in the form of a two-tower design spread over 5 rai of land that offers each tenant enough personal space to live comfortably either inside or outside their unit.
Large living spaces, comfortable balconies with high floor-to-ceiling windows (2.8 metres for single level units and 6 metres for duplexes) and fully-equipped Western kitchens and bathrooms are just some of the extras on offer with the project.
Further appealing to both Thai and foreigners alike, every unit in the development provides residents with stunning panoramic views of the Gulf of Thailand so that when you leave Bangkok for a weekend retreat, you truly feel like you are in a far-away resort.
At the time of writing, all remaining available units at Zire Wongamat are facing the sea and starting at just 4.5 million baht, they offer excellent value for money on a resort beach that can’t be beaten.
While there is not a lot of baseball played in the Land of Smiles, it is clear that Raimon Land has hit a home run with their Zire Wongamat and has set a very high standard for others to follow.