Thailand: One of the Most Popular Destinations for Real Estate Investors
Thailand is emerging as one of the most popular destinations for real estate investors, with Pattaya a particular favourite amongst those looking for property in Thailand.
While economies in other countries across the world continue to be adversely affected by the global financial downturn, Thailand’s economy remains surprisingly buoyant. A country’s housing market is often an accurate indicator of the health of its economy, so the fact that so many people are now looking to buy property in Thailand is clearly a positive sign. And in order to maximise on the burgeoning housing market, the Government of Thailand recently announced it would spend around US$ 72 billion on further infrastructure projects over the next five years.
One of the areas to benefit most out of the current housing boom is the coastal resort of Pattaya, home to some of our most luxurious properties for sale in Thailand. According to worldwide property investment specialist Knight Knox International, numbers of foreign investors are growing here because more and more people are choosing to retire to this beautiful part of the world. And if they do not decide to move over on a full time basis, they are choosing to buy properties for sale in Thailand as a means of an investment for their pension fund.
A quick glance around the resort, on the east coast of the Gulf of Thailand approximately 160km south of Bangkok, will show why this attractive town is proving to be so popular with expatriates. Significant investment in Pattaya over recent years has meant that the town now boasts excellent entertainment facilities, shops and restaurants – with a large number of luxury residential developments also having sprung up in the last decade. And the signs are there for the growth to continue – and even spread to other areas of the coast.
Lee Chettoe, sales manager at Knight Knox International, said recently: “The Thai condo market is booming at the moment. The increase in demand for property, particularly in the Jomtien Beach and Pattaya regions, has led to us taking on an additional six new projects this year alone, all of which have been extremely well received by our investors.
“Over the past 12 months we have also noticed that investors are broadening their horizons and starting to look more further afield than the traditionally popular regions in Pattaya, towards the more tranquil area of Bang Saray; either looking to retire or for a peaceful holiday destination, while only a short drive away from the main Pattaya resorts,” he added.