Located on the eastern sea course of the gulf of Thailand, Pattaya is increasingly seeing a growth rate in its real estate market projects. According to Colliers real estate property consultants the first half of 2011 marked another eventful period for the condominium and hotel markets in Pattaya.
Supply of condominiums on Bangkok’s popular Sukhumvit Road increased 9 per cent in the first half of 2011 while scarcity of land plots is the main driver of land prices, according to research from Knight Frank.
While the luxury real-estate market in Bangkok has fallen for the second quarter of this year due to the global market turmoil, the recent extension of the Thai capital’s skytrain lines is opening new investment options for expats.
While purchasing a property in Bangkok’s central business district might cost a fortune, income-producing properties are still in demand, says the property consultancy agency CB Richard Ellis (CBRE).