New Property
Park Lane Jomtien Resort
Visit our 1millionbaht.com to view this successful development. Start price: 1 Million Baht for 36 sq.m. fully furnished apartments with 1600 sq.m. Lagoon Swimming Pool.
The Apartment Buildings occupy a strategic position with walking distance to Jomtien Beach, only 600 meters to Sukhumvit Road and within 5 minutes you can reach some of the regions finest restaurants, shopping centers...
|
|
How-to Buy
Freehold ownership of a condo for foreigners is allowed by Thai law. A condominium block may be of 49% of non-Thai ownership, if the proper condominium license has been acquired by the developer, this can rise to 100%.
The overseas buyer has two possibilities of owning property in Thailand, these are the freehold or leasehold options. If a condominium is still ...
|
|
Thai Real Estate Status
The Thai property market and specific the Pattaya Jomtien market seems to be subject without a tangible outcome when reading publications be it on- or offline. There is much speculation, opinion, tension and contradiction.
Just a few facts: The property market is not slow. The saturation point is not reached and no, Malaysia will not convince anybody with their 10 year homeowner visas to buy a house in Kuala Lumpur instead of lively Pattaya, because the people of Kuala Lumpur keep coming to Pattaya, whenever...
|
|
|
The Pattaya Property Market
January 10, 2008
Property markets are very sensitive everywhere and react to even the smallest changes on the economic, social, or political level of a city, or region or even a whole country will be affected. Questions rises: Why is Pattaya so different and what keeps it going so strong?
Over the past years Thailand was hit by several events, rumors and laws we should take a look at.
Worldwide panic was triggered by the 9/11 event. Not only North American stock and property markets were shaken, but it effected the total of the world and vibrated throughout all the continents right through to the Asian markets that took a serious downwards drop of their own. This was followed by a worldwide drop in tourism that persisted for several months, Thailand and specifically Pattaya barely felt it. The Sale in property continued booming and only the stepped up security in hotels, car parks of malls and the airport were visible proof that something serious had happened.
Then along came SARS. Thailand was confronted with two cases of SARS - both of the persons had contracted the disease outside of Thailand. Thailand was declared officially to "one of those Asian countries" and subsequently was mixed in with the rest of them. Tourism truly suffered, sales of property however stood strong. Long-term residents. who knew Thailand's life style and were also familiar with Western panics came still in flocks.
Pattaya and Jomtien like Paradise
|
 |
 |
 |
 |
The Tsunami
Thousands of lives perished trough this unexpected tragic event that is still visible and sensible up to today. Thailand's southern property markets and specifically Phuket, took a major hit, Pattaya however benefited from it. It almost seems cruel and disrespectful to say that Pattaya's property market experienced a boost because of this horrible event, but it did. Indecisive condominium buyers who had a difficult time to choose between Pattaya or Phuket, made their decision on Boxing Day 2004, and bought their property in Pattaya.
Bird flu
One would have thought we had it, this is now more than enough, but then came along the Bird flu. Another disaster that should have reduced the property sales right down to zero. CNN and FOX News, did their best to publish the worst case scenarios and many tourist did not want to enter the Kingdom anymore, as it was equivalent to a dying in Thailand on an infectious disease. However people kept coming. Travelers to Thailand and Pattaya, who know Asia better than the average viewer, are obviously more difficult to be scared off, being aware of the health care system and knowing that all is in place to fight epidemics. Thailand is not a backward country, especially not on that level but the sensational hunting and stimulating fear news coverage had an effect on the number of the "normal tourists".
Property laws in Thailand
The recently made amendments of the property law, in regard to foreigners owning land in Thailand by using their Thai company, is in fact a re-enforcement of the existing Foreign Business Act, cutting off the way to bypass this law. This caused a bit of a stir. Three weeks long, panic was written all over the faces of real estate agents, reassuring each other that everything is okay. Nobody disagrees that the military government could have altered this law the opposite way and amend the law that it clearly states that all Thai companies are legally entitled to own land, whatever the percentage of foreigners of a company is. Companies generate revenues and being confronted with the fact that some productions are re-located to China because it's simply more cheap, was a short-sighted decision by the temporary government, but then what do you expect, laws were made in their ruling period and more than once recalled within a couple of weeks.
Sales of houses on plots are still a bit slow, the condominium and apartment market however experienced an acceleration in sales, particularly with foreign owned units. They have reached by now a premium position compared with their company-owned counterparts.
Visa regulations
Another recent hiccup has been the overhaul of visa regulations in the area. To be honest, many buyers and renters in Pattaya are baby-boomers and above the retirement visa age of 50, which makes it uncomplicated to seize residence in Thailand. For everybody else .. the Thai Embassy in Cambodia, Hong Kong, Laos, Malaysia, Myanmar or Singapore and anywhere else in the world, is still open.
The military coup
The coup should have had the most serious impact on Thailand. Most of the population in Pattaya has never been in a country where the military seized power over night, therefore nobody really knew what to expect.
BBC News and CNN had found their breaking News theme and covered it thoroughly. They showed soldiers on major cross roads with machine guns behind barricades and tanks were rolling down Sukhumvit Road in Bangkok. We all know the aftereffects.This might probably sound strange but it was so smooth that it was almost disappointing. We were expecting tanks rolling down Beach Road of Pattaya, curfews, and that it would be oragnized that all foreigners would be flown out of the country by their embassies. As everybody knows, we were just short on flowers, holding hands and taking photos with a friendly smiling soldier to our right. The military coup, proved once and for all that Pattaya is different and that no event could influence the real estate market to the point that it totally unsettles it, because business was as usual and sales of condominiums just kept rising.
What is the secret of Pattaya and what keeps it going so strong?
The answer:
Pattaya is blessed with a holiday atmosphere all year long. Lay back, have fun and relax, are the first 3 commandments of Pattaya city.
All you might love or want, need or not need but wanna have is available in Pattaya - from dark German bread and Black Forrest Ham to French Croisssants and Baguette, Buffalo Mozzarella, Pesto, Fallafel and Houmous and all sorts and shapes of tomatoes you can think off, name it and you can buy it - you do not need to sacrifice any of your preferences - but gain the choice of many others.
Pattaya has an advanced infrastructure, availabilty of technological developments such as broadband internet makes communication with the loved ones in the home country uncomplicated and in seconds possible. New highways and well maintained streets make it accessible coming from Bangkok or any other city. Condominiums are luxurious and offer facilites and a service which leaves the West far behind.
Pattaya is a multi-cultural city. English is understood pretty much anywhere.
Another reason why people typically move to Pattaya is that it is a place where "normal restricitng rules" don’t apply. Here 70 year-old men are able to marry a 25 year-old beauty queen and no, they do not have to be millionairs.
Tolearance is practiced in the sense that men may look like women and nobody feels offended by it.
Where we have all year summer and the rainy season is less wet than the average summer in The Netherlands or U.K.
Essentially, people come to Pattaya because they feel here at home and love the
» life style Pattaya offers with its many leisure possibilities, array of water sports, the fine cuisine and last but not least living on a magnificant beach with its fresh sea breeze in a tropical paradise.
|
| |
|
Thai Real Estate News
Property markets are very sensitive everywhere and react to even the smallest changes on the economic, social, or political level of a city, or region or even a whole country will be affected. Questions rises: Why is Pattaya so different...
|
|
SMS Iguana Group
To make swift and efficient feedback possible and to guarantee the highest level of service possible to our clients, we have chosen to implement this online SMS service.
Any questions you might have in regard to investing or the purchase of your domicile in Pattaya area, Thailand, will be answered within 24 hours.
» Send us a SMS  |
|
Testimonials
Read the Testimonials Iguana Group has received from Ross-Tara Co. Ltd., Obelisk International and Uni-Serv Co. Ltd., all well established and known in the Real Estate and Investment Market.
Obelisk International
We choose to collaborate with Iguana Group on the Pattaya Heights project for Obelisk International's first project in the Thailand market. The extensive experience ...
Uni-Serv Company LTD.
We at Uni-Serv Company Ltd. have been partnering Iguana Group within ...
|
|
|
