One of the largest beach resorts in Asia and the second-most visited city in Thailand, Pattaya is among the most important and productive real estate markets in the nation. With upcoming infrastructural improvements, as well as newly built parks, family attractions, and residential developments, the area is facing a positive turning point for its reputation.
What was once well-known as a party town is now well on its way to becoming an accessible, diverse, and cosmopolitan city on the coast.
Adam Sutcliffe, Managing Director of Dot Property Group moderated a conversation with four of Pattaya’s top real estate agencies in a panel discussion about what makes Pattaya a great place to live, and why now is a great time to invest.
If you had to describe the benefits of investing in Pattaya in five words, what would they be?
Global Property – The best place on earth.
Seaboard Properties – Home, Value, Lifestyle, Security, Profit.
Town & Country Property – Busy, Affordable, Central, Attractive, Choice
Jomtien Property – Lower overhead. Higher net returns.
Would you say Pattaya is better for / only for a particular demographic of property buyers?
Town & Country Property – No, not at all. Pattaya has lots to offer for all layers of community; Individuals as well as families, from any nationality. Different areas offer different things as well, so I would recommend the general area for anyone.
Jomtien Property – The demographic has changed so much in the 14 years I’ve been here: Many more families and working professionals are now buying and living in the area than ever before.
Seaboard Properties – It’s not about for who Pattaya is best for, it’s about which properties are the best match for particular people. Foreigners tend to choose the international places; domestic buyers often seek weekend homes. First-timers look for lower-priced apartments and investors want property by the beach.
Global Property – Pattaya would be a great choice for any property buyer; golfers, families, singles, etc. Basically it’s great for anyone who wants to live in diverse area with lots to offer, plus beautiful surroundings.
How do you predict the Pattaya property market will change over the next ten years?
Seaboard Properties – The ASEAN Economic Community (AEC) will have a positive impact on the real estate sector so eventually new players, namely Chinese developers will enter the game. This means a larger portion of Asian investors and continued influx of family-oriented buyers.
Jomtien Property – I think a lot depends on the impending mass transit link between Pattaya and Bangkok, which will make Pattaya a commutable suburb to the capital, which will keep the market very buoyant.
Global Property – In the past, Pattaya developed a reputation for being a raucous place and attracted limited demographics. However, its international image has been clearing up over the past fifteen years and savvy buyers are recognizing the area’s potential.
Town & Country Property – Pattaya will grow in both in terms of domestic and ASEAN interest. With a maturing face of the city; an improving reputation, inner-city gentrification, and industrial growth, it’s no longer limited to a particular demographic. It’s now more appealing than ever to families and business-minded buyers.
How do you predict Pattaya will physically change over the next ten years regarding development in the area?
Global Property – The areas around Pattaya city will see the most drastic development. More options in Pattaya suburbs will motivate people to move out of the city and into properties that are set in more quiet and peaceful locations yet still maintain easy access to the cosmopolitan area.
Seaboard Properties – Pattaya will remain a popular destination for holidaymakers, so all of the prime seafront and sea view plots will be developed in the next ten years. Investors are running out of time to capitalise on the available highly-desirable land.
Town & Country Property – I believe Pattaya will continue to grow with not just tourists but with residents who want to work or retire in a seaside city. While there will be more people residing here I think the traffic flow will actually improve; relieved by big upgrades in infrastructure.
Jomtien Property – My hope is that the local government will speed the process for improving the local infrastructure and roadways. I see big changes happening in the future, though I predict the expected changes will only happen in measured doses throughout the span of the next decade. Investors who can be patient and wait it out will benefit the most.
What’s your personal favourite thing about Pattaya and what would you say is its standout feature?
Jomtien Property – It’s very easy to create your own micro-environment here. If you’re a golfer it’s superb. If you’re on a budget you can still live a very active life. If you like more refined things there are lots of great restaurants and bars to suit.
Seaboard Properties – I love the multiculturalism here: Pattaya is a great example of a truly integrated and diverse society. Think about it: Here, every nationality, race, language, religion and culture can be found living and enjoying their lives in peace.
Town & Country Property – Personally, my favorite thing is that Pattaya is that it is an exciting city where’s always something to do. There are beaches, entertainment, dining, nightlife, and family attractions all within a very close distance. The tolerance that is widely practiced here is also something that makes Pattaya stand out.
Global Property – For me, what makes Pattaya so outstanding is that the city truly has the right thing for everyone. No matter your lifestyle or goals, Pattaya may be the best place in Thailand for you.
This article was first published in Issue 7 (July/August) of Thailand Property magazine. You can obtain your own digital copy here.
The main image of Pattaya is by Martin-Manuel Beaulne is licensed under Creative Commons Attribution.