Real estate developers say they consider Pattaya to be among the top five areas in Thailand to invest, thanks to its continuing population growth.
Speaking at Klasset Co.’s “Pattaya Real Estate Treasures” event at Central Festival Pattaya Beach Nov. 9, Dr. Sophon Pornchokchai, head of the Agency for Real Estates Affairs, said growth fuels demand for residences and the city’s long growth cycle has given investors confidence in investing in Pattaya.
(From left) Apichart Prasithrit, MD of Angel Ken & Sky Co., Ltd, Dr. Sophon Pornchokchai, CEO of Agency for Real Estates Affairs (AREA), and Ronakit Ekaingh, deputy mayor of Pattaya City, speak at the Central Festival Pattaya Beach seminar on November 9.
“From industry research, we can say that Pattaya ranks in the top 5 in Thailand thanks to its tendency to grow,” he said, adding that last year’s average selling price for units not located on the beach was 4 million baht.
Apichart Prasithrit, managing director of Angel Ken & Sky Co., said Pattaya has many selling points, including eco-tourism and nightlife. “It really is the city that never sleeps,” he said. “These are a part of the reason why investors want to invest in the city and we have expectations there will be more in the future.”
Sophon added that most projects have had high sales, usually selling out within six months: “That reflects that no matter how many investments are made in mid-sized projects, the buying strength from Thais and foreigners has remained strong,” he said.