Major Development reveals that beachfront condos in Pattaya are booming, particularly in the 'Na Jomtien' area, with a strong absorption rate of 60% in 2021. Most buyers are purchasing as a second home, boosting the popularity of 'Reflection Jomtien Beach Pattaya', a super-luxury condo with sea views on Jomtien Beach. The response has been excellent from both Thai and foreign customers, with buyers looking for personal residences and rental opportunities. Rental yields are around 5-6%, and resale prices have increased by 15%. The future of the Pattaya real estate market looks promising, with expected sales price increases of 10-15% per year.

 

Ms. Petchlada Phunworalak, Executive Director of Major Development Public Company Limited, stated that the real estate market in Pattaya is continuously growing, especially in coastal areas. The Na Jomtien zone is particularly attractive due to its increasing demand from both Thai and foreign buyers, offering a peaceful beach atmosphere and a longer coastline compared to other areas in Pattaya, making it ideal for relaxation. A significant factor contributing to this growth is the opening of Terminal 21 Pattaya, the largest shopping mall in the eastern region, covering over 50 rai, which has been tailored to meet customer demands. This guarantees growth and development in the area, leading to numerous new projects, primarily high-end condominiums with an average price of 130,000 THB per square meter. Overall, the condominium market in Pattaya has a good absorption rate, with a 60% absorption rate in the second half of 2021, as most customers are buying as second homes or vacation properties. Due to the popularity of the Na Jomtien area, the 'Reflection Jomtien Beach Pattaya' project, a super-luxury condominium with sea views on Jomtien Beach, consisting of 333 units and valued at 3.3 billion THB, has received an excellent response.

 

           'The Reflection Jomtien Beach Pattaya project is a ready-to-move-in condominium located right on the beach, featuring a unique design in contemporary art style, decorated with full-height glass to allow every unit to enjoy a 180-degree sea view. The starting price is only 99,000 THB per square meter, making it very appealing to both Thai and foreign customers. Foreign buyers include customers from China, the UK, and France. The majority of Thai customers are families purchasing as a second home, while foreign buyers are often retirees, buying for personal use or rental. The most sought-after unit type is the three-bedroom layout, sized between 217.55 and 217.85 square meters, as it accommodates multiple guests and meets the needs of renters. The project offers good rental yields averaging 5-6%, and resale prices have increased by nearly 15%, appealing to investors. To celebrate the upcoming government measures, Major Development is offering a special promotion with prices starting at 6.5 million THB, including all transfer fees, which customers should not miss, as it is the best time to own a beachfront condo with the best sea views in the Na Jomtien area of Pattaya. This special offer is available from today until March 31 only,' Ms. Petchlada stated.

 

           Regarding the growth trend in Pattaya, Ms. Petchlada concluded, 'The Pattaya real estate market will continue to grow, supported by positive factors such as the Eastern Economic Corridor (EEC) development plan and the expansion of U-Tapao Airport, which currently accommodates 3 million passengers per year and plans to increase to 15 million by 2023. This airport will serve both domestic and international flights, facilitating easier access for foreign visitors from China, Malaysia, and Russia. This will enhance the influx of foreign buyers interested in Pattaya real estate, particularly from China, Russia, and several European countries. Therefore, it is anticipated that the demand for Pattaya real estate will continue to rise, with expected sales price increases of at least 10-15% per year.'

 

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