Friday, February 8, 2008

Pattaya Thailand - Real Estate boom?

by Ron Keeley

Pattaya in Thailand, whilst is a favoured tourist atrraction to many a Thai soulmate seeking Westerner, it is also becoming a booming real estate network.
If you ask any real estate agent here in Pattaya if this is just the current fad, and if that property bubble is about to burst, they will more than likely laugh in your face and say "This is just the beginning!".

Pattaya Beach and Jomtien Beach are still currently the resorts that many people fly to each and every year and who can blame them - stunning food and restaurants, beautiful Thai women at every turn and hospitality like no other place in the world.

However, if you travel out and about those resorts, you will see building work at every turn as oppose to those beautiful Thai women I mentioned earlier. So something is certainly getting people excited!

There are shophouses, full blown communities and villas being built and with the land still available here in Pattaya, it shows no signs of slowing down.

So what is it about Pattaya that is creating this almost 'goldrush' of housing projects? Well that could be a number of things. There has been a lot of talk and meetings with hotels of proposed Casinos being built in the area and that project looks certain to go ahead at some stage, who knows when is anybody's guess. Rumours of Theme Parks have been mentioned also but these reasons are still to happen and let's face it, there may be a possibility that none of that happens.

My view is, which ever way you look at it, Pattaya will continue to be a popular tourist and expat attraction for many years to come and wave upon wave of tropical sun seeking foreigners (or farangs if you're Thai) will discover this country and learn to love this culture. Holiday homes, retirement homes and playboy homes will be sought after and there will be the supply for the demand.

If you're thinking of buying or owning any sort of property in Thailand, be sure that you understand the laws and regulations as I'm sure they will be very different to that of your own country.

About the Author
From Sinlapa Asia http://www.sinlapa-asia.com an information site on Asia and its cultures.

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