Is the condo market in Pattaya and Jomtien Beach finally cooling off?

The buzz around Pattaya and Jomtien Beach is that sales are down!

A friend of mine from one of the most prominent reality companies here in town has confirmed rumours as to what was already believed, that sales are down this year. Down to what degree? Last month alone saw a decrease of about 75% compared to November of last year. Of course you'll still get the majority telling you sales are rocking and business is great.

What does this mean for the potential buyer?
  Overall i would have to say that it should mean nothing. If you want to have a place here in Pattaya or the neighboring Jomtien Beach and even down to Bang Sarae, these are still nice places to live regardless of what the property market is doing at the moment. Property is a long term investment in its own right, not a get rich quick overnight goldmine.

Is buying a condo right now a good idea as an investment?
 If you are looking to purchase to make a return on monthly rentals one thing you should consider is if you have enough friends that either holiday here regularly, or if you know enough locals to rent for long term. Agencies have a far bigger database of available properties than prospective renters.

Is buying and looking towards the equity a good odea over the mid to long term?
 I would have to say definitely. In the 10 years i have been here prices on everything have contimued to rise. This is in the wake of tsunamis, political instability, airport closures, foreign exchange rates declining by an average of 25%, property and land prices have continues to rise.

All in all Thailand is still a great holiday destination and place to live. Pattaya and Jomtien Beach are particularly convienent and ex-pat friendly beach communities. The newer condos offer better construction, more luxury and hold their value. In particular Nova Group and Tudor Group are some of the best deals going atthe moment.

Novana residence announces new units available with some of the best prices in Pattaya

Brand new units available in foreign name starting at just 65,000 Baht per Sq. meter!!

Nova groups success continues with it's South Pattaya city location "Novana Residence". These affordable luxury condos are in a great location just off of Pattaya 3Rd rd and soi 17.

1. New units include: 2 - 25 sqm units on the 2nd floor priced at 1,625,000 B.
2. Also there are 2 more 24 sqm units available on the 4th floor with excellent pool views off the balcony for only 1,560,000 B.
3. One more 24 sqm unit is also available on the 8th floor is also going for 1,560,000.

These units will not last long at this outstanding value. Easy pricing plans are as follows:

• 50,000THB for reservation fee.
• 20% sign contract after 2 weeks (minus the reservation fee)
• 20% over 3 months.
• 20% over 6 months.
• 40% on Completion

For more information or to arrange a viewing please contact us at info@pattayarealestatemarket.com

Novana condo in Pattaya releases more foreign units

Great news for foreigners that were interested in the Novana Condo Development!

 I have just received word that Nova Group, which is the developing company behind Novana has just releases 5 more units available to foreigners!

For those unfamiliar with this development it is situated just off of Pattaya 3rd Rd. This is an ideal location for many reason.

• It is located very close to shopping andschools.
• Very convenient to local nightlife.
• 5 minutes from the beach and Bali  Hai Pier and just 10 minutes to Jomtien Beach.
• Easily accesible from local transportation.

Please contact us at info@Pattayarealestatemarket.com for more information and the best deals for this development or any of your property needs. look forward to hearing from you.

Pattaya Real Estate Market Team!

Thailands floating markets are no longer free in Pattaya

Pattaya no longer the cheap tourist destination it used to be. This is due to a few reasons...

• Thai baht strengthening against most currencies.
• Related inflation and increases in general.
• Uninformed tourists that do not realise they are getting scammed and happily paying what they feel are small fees.

Thailand is well known for its two and even three tier pricing but the low fees being imposed on tourists in Pattaya's floating market located just south of Jomtien beach takes the cake. This is approaching typical internet MLM ( multi level marketing ) scams. It apprears that tourists that pay to be part of a tour to be taken to the market will now be charged entrance fees on arrival.

This took place on December first where previously the market was free to all visitors. The fee structure will now currently beas follows...

1. Typically free for Thai nationals.
2. A nice break for those of that live here...we can enter free with a Thai drivers license or work permit.
3. Foreigners that are brought be a Thai can also enter free as Thais are entitled to bring two guests.
4. Foreigners that show up on holiday unaccompanied by a Thai citizen will be charged 200 Baht.

All i can say is congradulations to Pattaya Floating Market and Thailand in general for showing tourists just how appreciated they are. At least this time they have showed some restraint towards ex-pats.

Will new condo and housing projects in Thailand be completed on time?

Thailands property developers are facing a shortage of workers.

Reports from property developers are there just not enough workers available to fill the demand for upcoming projects in the new year. The new minimum wage increases still will not solve the problem.

Thailand has a 0.6% unemployment rate according to "The Nation", and the construction, infrastructure, and manufacturing sectors are looking at a shortage of approximately 200,000 workers.

While reasons for this may be debateable and the above unemployment rate skeptable, the lack of workers seems prominent.

One attempt to solve the problem has come from the Housing Business Association asking Labour Ministry to ease restrictions on foreign workers. There are an estimated 2 million foreign workers in Thailand at the present time.

While it can't be estimated just how many delays in new projects breaking ground it would seem wiser for property buyers to be looking at projects nearing completion as opposed to buying empty shells on pieces of land that have not yet broken ground.

Here in Pattaya, where there are still a huge number of new projects lined up for 2013, even if builders can deliver units on time there may be a question of the local Thai government having enough workers to complete the necessary infrastructure...which all in the Pattaya Jomtien Beach area know is lacking to say the least.