An overview of the Pattaya condominium market: Although the average sales rate in the condominium market is approximately 80%, there are still more than 10,000 condominium units remaining for sale in the market, which were unsold units from 2010 until the first quarter of 2018, with 2,362 condominiums remaining. New units opened for sale in Pattaya in the first quarter of 2018, which is more than units opened for sale all year in the past two years. This may reflect an improved trend of the Pattaya condominium market.

      In all areas of the Pattaya condominium market The Na Jomtien area has the highest number of condominiums remaining for sale, approximately 4,500 units remaining for sale in the market. Wongamat is the area with the least number of condominiums remaining for sale, with approximately 980 units remaining for sale, because Wongamat is an area where customers Upper market Most selling prices are in the price range of more than 140,000 baht per square meter (sq m). This market segment is not affected by the economic situation. And the Wong Amat location is quite quiet. Have privacy The beach is beautiful and clean. Therefore, it is still a location where customer groups still have a continuous demand for condominiums. But because there are a lot of condos left for sale in the market, the selling price cannot be adjusted much. Therefore, many developers are trying to maintain the selling price continuously in 2018.

       Use sales techniques to guarantee returns of 5-10%. Condo projects that are popular and able to meet sales targets in the Pattaya area during the first quarter of 2018, most of them are guaranteed projects. Estimate rental returns This is because most Pattaya condos are bought by buyers to use as a vacation spot where they do not live regularly. And when not staying, those rooms will be left vacant. while having to pay common fees every month Selling condominiums with guaranteed income is therefore the project owner's method. To increase options for customers who do not live regularly, they can use the condo to earn income. The project owner will act as the person who finds tenants and takes care of the condo. This strategy is very popular in foreign countries. When considering this form of condo sales, it can be seen that The income rate of return is also at an interesting level, such as 5% 3 years, 6% 5 years, or 7% 3 years, etc. But there are some entrepreneurs in Pattaya, such as the New Nordic Group, who have guarantees. Providing a rental return of 10% for up to 10 years, making it very popular among investors. and foreign buyers Guaranteed returns from rentals, buyers will get returns that are much better than returns from deposits in the bank.

       Because there are many condos still remaining for sale in the market. This has resulted in many developers choosing to sell completed projects first and delaying the launch of new projects in 2017. It is expected that it will take more than a year to sell these remaining units.” Even though a new group of Chinese buyers has become a major buyer group. will be much less than Russian buyers in the past several years, but it must be acknowledged that the Chinese buyer group has helped the Pattaya condo market become lively again after more than 2 years of slowdown.” However, it is expected that that the market trend will gradually improve from the government's public relations to the Eastern Economic Corridor (EEC), which combines areas in 3 provinces: Chonburi, Rayong, and Chachoengsao. This includes Pattaya which is part of the Eastern Special Economic Zone area. This may result in the Pattaya real estate market trend being in a better direction. from private sector investment in various industries There will be a demand for more than 100,000 engineers and advanced skilled workers in the next 5 years, as expected.

     In this regard, if looking at the development of condominium projects in Pattaya, besides large local operators. and large entrepreneurs from the central sector who are interested in developing condominium projects in Pattaya. There are also many foreign investors who come to invest in condominium projects in Pattaya. And these capital groups are still continuously interested in investing in real estate in Pattaya.

Article source https://prop2morrow.com/2018/07/02/Sends a positive signal to the condo market/