Many developers in recent years have been trying to diversify their revenue streams beyond Bangkok and have been active in all of the tourist cities close to Bangkok including Pattaya. Developers are counting on a number of government-backed projects to spur tourism and investment, which will have a knock-on effect on real estate. These include the Eastern Economic Corridor, expansion of U-tapao airport to serve more international flights, the extension of the Motorway to Map Ta Phut, a high-speed rail line, a monorail in Pattaya City, and cross-Gulf ferry service between Pattaya and Pranburi in Prachuap Khiri Khan.
Much will depend on the progress of these big-ticket projects, which could help create a modest revival in the Pattaya condominium market.
Buyers can easily be bedazzled by the sheer range of property investment options that Thailand has to offer. As with any emerging property market there are many opportunities presented to savvy investors, however the uninitiated could find buying a confusing process. Mark Bowling, Senior Manager of Colliers International Thailand’s Pattaya office, created a comprehensive Buyers Guide to Condominium Projects that outlines what you should look out for and what questions you should ask.
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