With the government and brands investing in Pattaya should you be considering it too?
Pattaya, by far, is one of the most frequently visited and well-known seaside towns in Thailand. Known for its vibrant nightlife and notorious Red Light District, it has become a place that visitors and residents have had mixed feelings about in the past. However, that is all changing as Thailand’s government wants to do something about the negative parts of Pattaya’s reputation and turn it into the high-class resort town it should rightfully be. They have begun heavy investment across the town in order to rebrand the area and move away from its seedy past.
The potential of Pattaya for investment is massive, clearly demonstrated by it’s ranking as the 8th highest number of overnight arrivals in the entire Asia-Pacific area! This shows that travelers to Pattaya will have a desire for activities beyond that of Walking Street exclusively. Rather they will expect a variety of restaurants, bars, hotels, and other services, all of which can be profited from. As such large brands have begun a more aggressive investment into projects in this area of Thailand, propelled by large tax cuts announced by the Thai government for investors in the EEC (or Eastern Economic corridor).
Terminal 21, the famous Bangkok based shopping center, plans to build a second branch, in addition to its already successful Asoke, branch in Pattaya. This will add another location for high end shopping for visitors to the area to add to their “to do” lists. In addition, they also plan to add a 25 story hotel in the new development called “the Grand Center Point Hotel”. Adding another high-end hotel chain to the town.
In addition to this, the High-Speed Rail project along the eastern the coast of Thailand that plans to link 3 major airports across the country, Don Muang, Suvarnabhumi and U Tapao airports. Making use of old rail routes, and reaching speeds of up to 250kmh, it will provide a fast and reliable way to travel around the region from the traditional buses and minivans. This is likely to bring an influx of visitors as Pattaya becomes an easy stop on the train for visitors while travelling Thailand, rather than somewhere you go for a specific reason.
With all of this to consider, Pattaya becomes an increasingly attractive prospect for investors across many different sectors. More convenient methods of travel combined with higher visitor levels and more attractions for promoting longer stay durations, business owners can expect high competition, but also consumer consistency that their businesses will rely on. Seaboard properties can help you establish a permanent residence in Pattaya by providing top class real estate services to help you find your ideal home. Whether you are looking for a house, condo or just want to speak to a highly reputable real estate agent in Pattaya, Seaboard Properties can provide you with the expertise necessary to make the right decisions when It comes to your property.