Pattaya rated perfect place for second home

1 Aug 2011

A UK newspaper story that placed Pattaya among the top 20 towns in the world for a second home has generated lots of concurring opinions. The article published in Britain’s Daily Telegraph on the 22 July cited the low cost of property here and the beauty of Pattaya Bay as the primary reason for choosing to establish a holiday home in Thailand’s favourite seaside resort.

The item was written by Christopher Middleton and, although it only mentioned flats that will be available at a project due for completion on Pratumnak Hill in two years, has been endorsed by several housing estate proprietors here.

The SP Village’s Saksit Teerapornsathanon is one of several owners who have stated, since the article first appeared in the UK, that world standard beaches, ten shopping centres, excellent tourist infrastructure, a constant supply of fresh sea food, superb nightlife and the proximity of Suwarnabhumi Airport were major attractions for foreigners looking at buying second homes.

The owners all seemed to agree that the low cost of condominiums was an inducement to people from Europe and North America to buy. The market for houses is not as strong as they are more expensive and there are some ownership restrictions.

Foreign nationals can buy a house in Thailand, but not the land it sits on, and usually have to take out long term leases on properties. There are no such restrictions on flats, although a certain percentage of the units in any building have to be Thai owned.

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