The pattaya property is currently broadening and the upward trend is projected to continue over the coming years, according to the 12th version of the “Condo Focus Thailand” report from home developer Raimon Land.
The company anticipates to see strong activity mostly in the inland metropolitan location, which provides certain benefits that compensate for the lack of views or natural beauty. Beachfront locations are likely to see high need from buyers able to manage them, but at the same time Raimon Land forecasts healthy development in the number of developments developed to draw in residents or people with restricted budget plans. Projects on the beachfront will continue to bring in buyers in the luxury and high-end sector, nonetheless the supply will be restricted due to the lack of land offered.
Designers are likely to prefer systems in the rate range in between 1 million baht and 3 million baht to bump into the needs of the progressively affluent domestic workforce. Purchasers are projected to mostly seek one-bedroom devices of around 40 square metres, although the price per square metre is set to increase further. Inland devices without sea-views will sell well thanks to various other advantages like proximity to shopping centres and offices.
In order to avoid the market heating up, condo unit developers in the low and mid-segments could tighten their buying requirements by requesting greater booking costs or deposits, for instance. But with a typical take-up rate of about 50 %, Raimon Land states that this may not happen for a while.
posted news: 09 Jan 2014