Homesgofast Tip Pattaya Ripe For Overseas Property Investment

It may not be as well known as
some other destinations in Thailand, but, according to experts, Pattaya has ‘a
stronger and more valuable property industry than any another other city in
Thailand.’

Pattaya is one of Asia’s main
tourist destinations and offers great potential to investors from abroad.  Keep reading to learn more about the
growing potential of this Thai location.

Strong tourist demand for this Thai city

Pattaya sits on the east coast of
the Gulf of Thailand.  It is around
100 miles southeast of Bangkok and is within but not part of Amphoe Bang Lamung
(Banglamung) in the province of Chonburi.

It remains one of the region’s
most visited tourist attractions and there are many signs that its popularity
is set to increase in coming years. 
World Property Channel reports
that a total of 5,000 luxury hotel rooms will open in Pattaya over the next
three years, with the new developments expanding out of central areas into the
neighbouring Sattahip and Na Kluea districts along the coast.

According to figures from
Thailand’s Ministry of Tourism and Sports, Pattaya received 8.3 million
arrivals in 2010, 93 per cent more than in 2009.  In the first half of 2011 there were 724,273 Thai and
3,070,635 foreign visitors to Pattaya.

And, ‘tourism in Pattaya still
has potential to grow’ according to Chonburi Provincial Administration
Organisation chief executive Vitaya Khunplome.  The organisation, which oversees tourism development in Pattaya,
has set a target of 10 million international and domestic visitors and 100
billion baht (£2 billion) in tourism receipts for Pattaya by 2015.

As well as strong tourist
figures, the city has also seen a strong growth in its real estate markets
since 2008.  New research presented
by AREA president Sopon Pornchokchai has indicated that Pattaya has a stronger
and more valuable property industry than any another other city in Thailand.

Nick Marr, director of one of the most established overseas property portals at HomesGo Fast.com said: “Pattaya is becoming increasingly popular
with overseas buyers who understand the tourist potential of the city.  With the city setting bold tourist
targets and thousands of new hotel rooms set to open it’s a great time to
invest in Pattaya.”