Pattaya- a potent city for real-estate investment
Be it for a retiree, an expat or just an investor looking for a place of interest to buy a property in; it will be nothing short of a dream come true to have a place of one’s own in a city that is not only located by the coastline but also boasts all sorts of modern amenities. And if you are one such individual; Pattaya, without a doubt, will exceed your expectations. With its tropical coastline, urbanized characteristics, vibrant night life, a comparatively low cost of living, and various choices for property types; Pattaya is showing more potentials in terms of real-estate investment than it has in the past, and to add to that, it has to this date maintained a spot in the top 20’s of GDCI (The MasterCard’s Global Destination Cities Index) along with Bangkok and Phuket, meaning market value is guaranteed for the properties purchased.
Why not Bangkok and Phuket?
With Bangkok and Phuket also in the top 20’s of GDCI, and even more so, they being in the lead raises the question- Why not go for Bangkok and Phuket instead of Pattaya? While it is true that Bangkok is way more developed since it is the capital city, and that Phuket has lot more beautiful beaches as it is an island; just remember that we are talking in terms of procuring a property and not travelling. Thus, the comparisons you need to make should be long term based. For instance, let us take the example of the living cost in all the three cities. Even without any figures and statistics, one would be pretty much safe to say that Pattaya will have the lowest cost of living among the three cities. The reason for that is because as previously stated, Bangkok is the capital city, meaning it is the headquarter to a lot of international companies which makes everything super expensive; and Phuket on the other hand is an island 844 km away from the capital which will definitely add up to the cost of both goods and services. That way, Pattaya makes a lot more sense in terms of buying a property as it has all the amenities of the other two cities but at a substantially lower cost.
The Property Ownership Laws in Thailand does not allow foreign nationals to directly and fully own a plot of land. However, it does provide other alternatives, such as leasing, gaining ownership via setting up Thai Limited Companies. Condominiums and apartments can be outright owned in freehold, as 49% of the units in each building can be registered to Foreign ownership. 51% of the units of each building must remain in Thai ownership.
Seaboard Properties- The Resolution
While such complex legalities are bound to be of concern for any buyers or investors; for anyone looking to go through real-estate procurement in Pattaya can be at peace because Seaboard Properties is here for you. Here at Seaboard-Properties, not only do we emphasize on providing you with various property-types at different locations as per your personal-preference and budget line; we also specialize in providing legal advice and assistance in correspondence with revised regulations on Property Ownership Laws of Thailand.