Top Tips for Investing in Real Estate in Pattaya
Sitting on Thailand’s eastern seaboard, Pattaya has become a favoured destination for expats from across the world. Modern amenities and a pulsating nightlife, combined with access to tropical paradises, has made the city a magnet for many people that wish to move to the region.
Many people fall in love with the city, and decide that they would like to make a permanent home here. Others might see an excellent investment opportunity from which to make sound returns. Either way, there can be quite a lot to take into consideration when investing in Pattaya, just as with investing in anywhere else. There is a lot of advice available on investing in Pattaya and, while investing can be nuanced, there are some basics that anybody should find to be useful.
Which are the Best Locations?
The best location for you depends largely on your personal preferences, requirements and budgets. One of the most popular options is toward the beach front as this is where most of the amenities and entertainment is. This also tends to be among the most expensive, however, so your budget would be a deciding factor.
You may prefer to live away from the town centre and there are plenty of opportunities for you here as well. The outskirts of the city have plenty of homes and other real estate for you to choose from, and they are likely to be more affordable than those closer to the centre. You will also be getting more for your money, potentially allowing you to invest in luxury that you may not be able to afford closer to the city centre.
What should I be Paying?
Again, this depends on location and your budget. If you are on a strict budget, or if you simply don’t have a preference for the more in demand properties, you could spend as little as 30,000 baht per square metre. At the other end of the scale, you could find yourself paying 200,000 baht per square metre or more.
Paying toward the lower end does not necessarily mean that you are paying for low quality. There are many great deals about, and if you are patient then you could spend your time shopping around and waiting for the right opportunity. Shopping away from the centre will also help you to find good quality real estate at more affordable prices.
If you are willing and able to buy at the higher end of the scale then you will undoubtedly be expecting luxury. You will not be disappointed. At the higher end, you can expect to find penthouse condos in prime locations with panoramic views of the entire bay. You can also expect private pools in some types of property as well as any other modern conveniences you desire.
What about Maintenance?
If you invest in a condo, then the developer should be bound to continue to maintain the property for as long as it stands. This includes all aspects such as structure, plumbing, security and so on. This will sometimes involve a monthly fee from all residents, and this should be agreed upon before purchasing. You will usually be responsible for maintenance within your own unit.
What about Legalities?
While there are many reputable developers selling condominiums and other real estate in Pattaya, it is still advisable to employ a legal firm to ensure that you are protected. Even a well-intentioned transaction could have its flaws, so it is best to have an expert ensure that everything is in place. There is a variety of reputable law firms in Pattaya and elsewhere in Thailand for you to choose from. Many will speak English, and other languages. With the right legal assistance, you can have the peace of mind in knowing that you are protected should any issue arise.
With so many other real-estate investment opportunities in Thailand and elsewhere in the region, you might ask the question of why choose Pattaya? Asides from Pattaya being a great place to live thanks to its location and access to modern amenities, it also represents a sound business opportunity. Over the last decade or so, Pattaya has seen a boom in development, and this only looks set to continue. Demand for real estate is high, and land prices only look set to increase.