Issue 12 | Feature brought to you by Devonshire Square
Pattaya is one of the most popular beach resorts in South East Asia because it combines a luxurious seaside lifestyle with world class nightlife, shopping and dining. Whether you want to dine out at a restaurant with an ocean view, hunt for bargains in an air conditioned mall or party until the early hours of the morning, the town caters to every taste.
However not everyone wants to live in central Pattaya and for people seeking a more peaceful life some quieter corners can be found a surprisingly short distance away. Bang Saray fits this description perfectly, it was once a quiet fishing village but has gradually developed into something approaching a small seaside town.
Bang Saray is just 20 minutes’ drive away from Pattaya but you will feel like you are a million miles away from the hustle and bustle of a busy city. And being slightly further away from the nearest metropolis brings some major advantages, which is why the Devonshire Square development has proven so popular.
Situated just 250 metres from the beach in Bang Saray this brand new development offers space, something that is at a premium in nearby Pattaya. The apartments are significantly bigger than most on the market meaning that buyers don’t need to make any sacrifices in terms of lifestyle or luxury in order to make their dream of living by the beach a reality.
Rob McDonald is the developer behind this project and he feels that with the Pattaya marketplace becoming increasingly competitive and crowded, being in Bang Saray helps Devonshire Square offer something a little bit different;
“The apartments at Devonshire Square are much more spacious than the industry standard in Pattaya. It creates the feeling of a wide open space and being slightly out of town and so close to the beach means that the air is clean and there is a cooling ocean breeze.”
This creates a natural air conditioning system as well as the sense of being in an idyllic tropical location, something that might be missing in downtown Pattaya. History has shown time and time again that when a new seaside area in Thailand becomes popular property prices can skyrocket and this looks on the verge of happening in Bang Saray.
It’s a name that wasn’t on anyone’s lips a couple of years ago but now everyone in the property industry is talking about Bang Saray and McDonald thinks the proximity to Pattaya is a major selling point;
“It’s the new up-and-coming area in the Pattaya region. About 20 minutes along the south coast from the city itself, it is attractive for people wishing to get away from the noise, traffic and pollution of Pattaya but still close enough to the city when you really need to get there.”
Anyone purchasing a property in Bang Saray today will be able to see for themselves why apartments in this seaside village are already so sought after. But history shows us that the potential of this investment is almost limitless, Pattaya barely even existed until the 1960s and urbanised resorts in this region have the capacity to enjoy a remarkably steep growth trajectory.
McDonald says his company analysed numerous locations in the surrounding region before deciding that Bang Saray was the perfect spot for Devonshire Square;
“Bang Saray has cleaner air, less noise and cleaner beaches than Pattaya but is still close to the major new tourist attractions with many new attractions already in the pipeline. It looks set to enjoy rapid growth and I would expect property prices there to increase sharply over the course of the next few years.”
For buyers who don’t intend to spend the whole year in Bang Saray there is a guaranteed rental program. As McDonald explains this means that purchasers can start to see an immediate return on their investment before potentially moving in themselves at a later date;
“There is a rental program which guarantees 9% per annum for the first three years, which is then reviewed upwards for a further period to reflect the increase in value of the apartment and rent increases. We also offer investors a guaranteed ‘buy back’ with investment and 10% per annum returned after either year one or at year two.”
Under Thai law foreigners are allowed to own condominiums outright, which makes buying an apartment less complicated than buying a house or land. As Devonshire Square nears completion the price will inevitably rise but McDonald says that buyers can get involved now for as little as 1 million THB;
“Interest in the project is very strong along with pre construction sales. The price will rise throughout construction and again on completion. The construction company is English owned, has a track record of successfully completed projects and Devonshire Square will be built to British Standards.”
With the cost of property in Bang Saray set to increase, bargains will become increasingly hard to find in what was once a sleepy seaside village. But Devonshire Square offers buyers the opportunity to purchase their own personal piece of paradise before the secret gets out and the prices sky rocket.