Is Pattaya’s condo market facing a bubble?

According to recent numbers, residential increases in property - especially the condo market in the Pattaya Jomtien Beach area - have only risen on average of 1 percentage point per year. That is amounts to 4% combined over the last four years. These increases are inclusive of inflation consisting of both rising land prices as well as a significant increase in materials cost.

These numbers are much lower than the bubble of 1996, and the financial crisis of 1997… 11% lower from 1993 – 1996. In addition, home loan rates have increased only half (12%) what they were during the bubble of 93-96 where they topped out at 25%.

Although the last 2 years have seen an increase of 5%, versus the 2% FOR 2008 – 2009, this is in confluence with Thailands GDP which has been maintaining 2% annually. This is the same as it was 10 years ago.

Current supply seems to be meeting demand as Pattaya, Jomtien Beach, and Thailand in general continue to grow. This growth is attributed to rising foreign investment, foreigners ex-patriating and retiring in Thailand as well as domestic growth and investment as a whole.

Pattaya tourists may get a little more for their money as Thailand’s baht weakens

It was not long ago the Thai baht dipped briefly below the 30.00b mark against the U.S. dollar. The baht seemed to be correcting itself when it roughly flirted with the 32.00b level. As of last month the baht was once again threatening the psychological level of  30.00b ,but seemes to have taken a bounce favorable to tourists coming to spend their holidays here in Thailand.  This, just in time for the coming high season and hopefully this trend will continue. Today the baht climbed to 31.40b for one U.S. dollar.

Gold also fell to levels flirting with the 23,000 Baht per baht. This means good news for tourists with their currency giving them more spending power especially in high season dependent areas like Chaing Mai, Phuket, Koh Samui, Krabi, Pattaya and Jomtien Beaches.

 Just as well local hotels, guest houses, and serviced apartments may see customers adding nights to their stay as their holiday becomes more affordable. Likewise tour operators, souvenir shops and local businesses may see more trade as their products become cheaper and more doable for tourists.

Pattaya and Jomtien have seen an incredible amount of building over the last year since last year’s high season and developers, as well as local tradesman, are optimistic their rooms will fill up. Here’s to a great high season!

Tudor Court Condos on Pratumnak ready to move in!!

The long awaited completion of Tudor Court Condos on Pratumnak soi 2 are now being occupied! The rubble has been removed, the grounds have been cleared and the dust swept away.

Developer Simon Ditchburn has just announced that buyers are now moving in. There are still a few units available and Pattaya Real Estate Market has some of the best prices available.

Tudor Court Condos are built to the highest European standards with attention taken in every last detail. They will soon be offering serviced apartments available for rent shortly as well. For a better look at these high quality units check out the video below

Ready to go???

 What does ready to go mean? To me being a simple guy, i would think that means everything is ready. All the bugs are worked out. Everything is tested and in working order.
 Apparently Host Group here in Pattaya has a different version of that meaning. According to them it means give us the balance you owe us and we will continue to try to make your website functional.
 I have seen other products they have created and they are quite nice, far nicer than what they have created for us. If i have mis communicated a few things to them i do apologise. I thought having done 20+ sites similar to what i have ordered they would use their professionalism and experience to create a nice product.  Again probably my bad in presuming they would know what to do.  
 On the other hand i have given them a few new orignal ideas to create which they did deliver on, these will be use able functions that everyone in their network will benefit from. I have paid for these ideas to be implemented and developed.
 I have paid in full for a fully operational website that is still having the bugs worked out, unable to handle new clients and embarrassing us here at Pattaya Realestate Market.
 We will be here for the long haul. Even if we need to pursue legal action, and take our business to another developer, we will continue to be here for those that have trusted us with their business.
Best regards,
Pattaya Realestate Market Team!