A Guide to Buying Property in Pattaya

Pattaya is a vibrant seaside city along the Gulf of Thailand, just two hours south of Bangkok. Thanks to its stunning beaches, lively entertainment scene, proximity to Bangkok, and growing economy, Pattaya is becoming a highly sought-after destination for property investors. To invest wisely in the Pattaya property market you should work with an experienced Pattaya real estate agent. The city and surrounding region offer many property choices and cater to different investment goals. Whether you're considering a luxury beachfront condo, private villa, or commercial property, understanding the intricacies of the Pattaya real estate market is essential to making an informed decision and ensuring a successful investment. We’re offering this guide to buying property in Pattaya to help you make the right choices.

Investing in Property in Pattaya

There are three types of investment properties in Pattaya:

• Condos
• Detached houses and villas
• Commercial properties

Pattaya, as a resort destination, has recently experienced a boom in condo developments. Look up and down the kilometers of beaches and you'll see the many condo towers offering oceanside views. Condos are the only type of property in Thailand open to foreign ownership. As long as Thais own 51% of condo units in a development, 49% can be offered to foreigners. Pattaya is an immensely popular destination for foreign tourists. The city is easy to access due to its location halfway between Suvarnabhumi International Airport in Bangkok and U-Tapao International Airport in nearby Rayong. Detached houses and villas are another popular investment for families and couples. Outright ownership of these types of properties is only open to Thai citizens, but an experienced real estate agent can arrange for foreigners to lease the property for up to 30 years with a leasehold document which can also be renewed. Commercial properties in Pattaya run the gamut from a large retail space in a new and popular mall, to a commercial shophouse with living quarters on the upper floors, and even industrial warehouses in east Pattaya. The city has an abundance of all types of commercial properties, and with the city's economic growth and development, more are being built.

Choosing a Pattaya Real Estate Agent

Theoretically, you could confine your search to properties listed on the many property websites. But they would only provide you with one facet of the property buying process and wouldn't help you when you finally found what you were looking for. Working with a local property agent can save you time and money. By providing a local estate agent with a list of your requirements, they’ll be able to save you days of looking at unsuitable properties. Local experienced property agents will also have their fingers on the pulse of the property market in Pattaya and might even be able to show you the perfect property before it’s publicly listed. When choosing a local real estate agent in Pattaya, you should check their licensing information and how long they’ve been in business for, plus whether they’ve earned any local business awards. You also might ask for a list of recent properties they’ve closed deals on. An experienced local property agent will be with you through every step of the property investment process. They’ll find you the right property, assist with any negotiations and ensure your legal rights are met. They’ll also be able to handle all the complicated and legal paperwork demanded in a property sale.

Managing Your Property in Pattaya

Buying condos for rental in resort destinations is a popular investment choice for Thai citizens and foreigners. With the wealth of available condos in Pattaya, working with a local real estate company is a must to manage the rental end of your investment correctly. Many factors will affect the value of your investment. High season and low season have a sizable bearing on how much income you can expect from your investment in the short term. Longer-term factors include local public transportation and infrastructure, changes to local laws, and even global economics. An experienced local real estate firm knows what the market can handle and can advise you on what rent to charge. They can also arrange for maintenance and repairs to maintain the value of your property, and be your intermediary in dealing with the paperwork and personal needs of renters.

Have an Exit Strategy for Your Property Investments

While the future looks rosy for property investments in Pattaya overall, investing in certain types of properties or certain locations may demand a sound exit strategy to maximize your profits. Working with a local property agent can allow you to make the most of the timing of a sale. They know local property trends as they're developing and are the best people to advise you when to buy and sell properties to maximize profits.

Partner with Pearl Property Pattaya

Pearl Property Pattaya is one of the most experienced real estate agencies in Pattaya. We can recommend available properties that suit your needs, negotiate excellent terms and help you close the deal. We'll also be with you throughout your ownership as a professional and efficient property management company that serves your best interests and gives you peace of mind. Contact Pearl Property Pattaya for investments in Pattaya.