Real estate firm Colliers has closed its Pattaya office.
Media reports suggest they are not alone and other real estate agencies have also shuttered their operations in the Gulf of Thailand city during recent months.
In an email Simon Landy, Executive Chairman of Collliers International Thailand, told Dot Property Group: “We still cover the Pattaya market, and have a lot of advisory and investment work going on there.
“But with the downturn in the residential market in Pattaya, it was no longer viable to maintain a shop specialising in the retail sales of residential units.”