Pattaya is considered to be one of the best places in Thailand to buy a house. Not only is it considered to be an entertainment hub of Thailand but also its real estate market is booming. Foreigners usually have a preference to purchase land and construct a Pattaya house rather than live in condos or move into an existing house that might not suit their preferences. Building or buying a house in Pattaya is comparatively worthwhile and low-priced. There is always a geared up supply of skillful labor.
Most of the foreigners have preferred to buy houses in Pattaya. In contrast to Bangkok, property is readily on hand in Pattaya, giving property hunters prospects for buying reasonably priced individual houses or investing at any housing estate. In 2007 buyers started on taking waiting to buy any real estate property as the new government was formulating its policies. The recent trend moves towards bigger low rise condos as compared to houses and villas. Even though there are ownership issues for foreigners in real estate, city limits of Pattaya are rapidly expanding. This is due to the new Airport and a highway widening program presently in progress linking Bangkok and Pattaya.
Residential houses in Pattaya present the best price in Thailand; they are usually big, comfy, contemporary and endowed with magnificent furnishings and pleasant landscape gardens. Due to the cheaply available material and labor, it’s not out of reach to have the benefit of living in houses rather condos.
Houses in Pattaya are numerous, and long stay residents opt for these rather than condos, preferring the tourist-free peace and quiet further out of the CBD. There are plenty of houses for sale, old and new, with the current trend being ‘gated communities’. These appeal to the Thai middle class in particular and present a nice modern ready-made suburb.
Property agents can show you ample of houses in Pattaya for sale. Also checking around for ‘For Sale’ signs in residential suburbs is equally valuable and eliminates the agent fee. You’ll notice that there are an abundance of empty houses in Pattaya, many developed prior to the ‘97 financial crash, and although it may be a buyers’ market (the condo boom in the city hasn’t entirely extended to houses), often the owners will hold out for an unrealistic speculative price.
The major obstacle to foreigners buying a house in Pattaya is the possession status, and in view of the fact that only Thai citizens can acquire land in Thailand, simply those with Thai spouses can purchase land. Still after that they don’t completely have rights and have to depend on faith. Additionally still, you can make a pact where you rent the land and own the house for the period of its term.
It’s prudent to consult a lawyer and carry out due diligence. Many houses on the real estate market in Pattaya are owned as investments by Bangkok residents and the truthfulness in selling a covert defect-free house is missing.
In general, houses in Pattaya provide much better worth than condos and even provide more advantages of living in a cheap tropical country.