Habitat Group indicates that the real estate market for leisure and investment in Pattaya is benefiting from government measures supporting the ongoing tourism boom, stemming from public and private sector investments, as well as the extension of the 10-year Long-Term Resident (LTR) Visa. This initiative opens doors for four high-potential foreign groups to invest and reside in Thailand long-term, positively impacting the economy, investment, and employment. The company is confident that this will stimulate the real estate market to recover faster than expected, accelerating plans to launch new projects.
"Bayphere Premier Suites" is responding to rising demand from both Thai and foreign buyers.

            Mr. Chanin Wanichwong, CEO of Habitat Group, a leader in real estate development for investment, revealed that the trend for investment real estate, particularly in tourism provinces like Pattaya, is showing increasingly positive directions due to various supportive factors in recent times. This momentum is expected to impact the market in the last quarter of 2022 and continue into 2023.

            The factors mentioned stem from government investment policies in the Eastern Economic Corridor (EEC) project over the next five years (2023-2027), with an investment target of 2.2 trillion baht. This aims to attract private sectors from various industries, such as services, SMEs, and real estate businesses from both local and Bangkok-based operators to invest in residential projects. The market for leisure and investment real estate has been showing positive signs since early 2022, following the reopening of the country and the cancellation of the Thailand Pass registration system on July 1, 2022. Data from the Tourism Authority of Thailand (TAT) reflects that these measures have led to an increase in foreign tourists, with over 4 million arrivals in the first eight months of this year (January-August 2022), averaging more than 40,000 visitors per day.

            Additionally, positive tourism signals continue to impact the real estate market for leisure and investment, recently highlighted by the extension of the long-term stay visa allowing foreigners to apply for a 10-year Long-Term Resident Visa (LTR) in four target groups: high-net-worth individuals, retirees, workers, and skilled professionals. This is expected to invigorate the economy and investment, especially in key tourist destinations like Pattaya and Hua Hin.

            "The past tourism stimulus measures have led to noticeable changes, particularly in Pattaya, where the number of tourists has increased. Hotels have resumed operations at about 70%, and we believe that the LTR Visa, allowing foreigners to stay in Thailand for up to 10 years, will positively impact the real estate market and the economy in tourist-supporting areas," Mr. Chanin stated.

            Habitat Group is set to continue developing projects in Pattaya, with the "Best Western Premier Bayphere Pattaya" project already sold out and operational for a year, currently achieving an occupancy rate of approximately 50%. This has led to the launch of a new project adjacent to the existing site, "Bayphere Premier Suites," which maintains the quality of location and design that caters to the lifestyle needs of modern investors and vacationers.

            "Bayphere Premier Suites" has a project value of 845 million baht, featuring a prime location near Na Jomtien beach, designed as a low-rise condominium (8 stories) on a 3-rai 99-square-wah plot, comprising 119 units with sizes ranging from 30 to 120 square meters, including studio, 1-bedroom, and 2-bedroom layouts, starting at just 4.5 million baht. The project includes common areas and facilities, managed by a 5-star hotel with premium service standards.

            Interested parties can visit the project daily and find more details on the website www.habitatgroup.co.th or call 061-754-8222. Follow other news on Facebook www.facebook.com/HabitatGroupProperties, Line: @habitatgroup, Instagram: habitatgroup_official, YouTube: Habitat Group