Alan Bolton Property Consultants report increased confidence from Bangkok Developers looking to expand operations in Pattaya.
For a number of years, Bangkok developers seemed reluctant to develop their brand in Pattaya, however in recent times a number of high profile developers have successfully launched projects with great success. High profile developers RaimonLand successfully developed the high end Condominium Northshore on Pattaya Beach Road, and are now in the final stages of completing the world class project Northpoint on WongamatBeach in Naklua.
RaimonLand‘s experience at Northshore demonstrated the evolution of Pattaya and the Eastern Seaboard as a premium property market. Capital values in the 193 units appreciated significantly over the construction period passing on generous gains to investors and owner occupiers. Initial buyers are enjoying gross yields of 8-12%.
Currently Major Development Public Company Limited are constructing Reflection Jomtien Beach Pattaya, Reflection consists of two towers; the 55-storey OceanfrontTower and the 42-storey Ocean view Tower, totalling 332 residential units. Developed under the concept of “Beyond Seascape Living”, Reflection offers fifty-six world-class facilities including three swimming pools, an aquatic playground, floating cigar lounges and terraces, a pool-side BBQ pavilion, sky lounges, sky gardens and sky BBQ terraces and relaxation alcoves.
Reflection is destined to be the new landmark of Pattaya. Sales in the project have been very positive and construction is now well underway with piling works for both Towers nearly 35% complete.
“The success of both Raimon land projects is testament that investors in Pattaya are looking for high end projects and are prepared to pay a premium price for quality and Bangkok developers are fully aware of this”.
Alan Bolton Property Consultants believe that due to ever increasing land prices in Bangkok, Pattaya is becoming a destination that many high profile Bangkok developers are now seriously looking at, to develop new projects, and as a way of developing their brand profiles.
“In the last 3 months both myself, and my Country Manager have had a number of very positive meetings with Bangkok developers- there is most certainly an eagerness to either acquire land or to start developing on land that they have purchased, as soon as possible”.
Pattaya is fast becoming the destination of choice for wealthy Thais from Bangkok at weekends, the success of CentralFestivalPattayaBeach, and the high occupancy of hotels is proof of this, and naturally this opens up a wealth of opportunities for Property developers.
Alan Bolton Property Consultants are the biggest real estate agents in Pattaya, Thailand providing real estate advice, information, and services (Property Sales of both Houses and Condos, Short or Long Term Rentals.