"Habitat Group" seizes the opportunity in the rising Pattaya real estate market, promoting premium "Holiday Homes and Lifestyle Investment" to capitalize on the purchasing power of Russian and Chinese customers looking for second homes. The market for pool villas priced between 10-20 million baht is booming, with condo prices signaling an increase from the current 200,000 baht per square meter, expected to rise by 40-50% in the next 2-3 years to around 250,000-300,000 baht per square meter.

Mr. Chanin Wanichwong, CEO of Habitat Group Co., Ltd., a leader in real estate development for investment, revealed that the tourism market has been bustling since the beginning of the year. The Tourism Authority of Thailand predicts that in 2023, the number of foreign tourists will reach 22.7 million, with a target of 35.3 million in 2024. The main destinations for foreign tourists are three key provinces in Thailand: Bangkok, Phuket, and Pattaya.

Pattaya, a popular tourist destination for travelers worldwide, still has reasonably priced real estate, leading to continuous demand for housing from both Thai and foreign customers, especially from Russia and China. In the overall Pattaya real estate market, foreign buyers account for 45%, while Thai buyers make up 55%. The Highland Park Pool Villas Pattaya project, a holiday home, sold out its first phase of 20 units earlier this year and is now launching a second phase of another 20 units, priced from 9.9 to 20 million baht.

"Currently, traveling to Pattaya is easier, taking only 90 minutes. It is a city that meets diverse demands, serving as both a job hub in the Eastern Economic Corridor (ECC) and a world-class vacation spot. With this prime location, Habitat Group has chosen to focus on developing projects that emphasize Lifestyle Investment, which involves purchasing for rental investment, as well as holiday homes for families and retirement living, allowing buyers to benefit from attractive investment yields," Mr. Chanin stated.

The trend of increasing purchasing power among foreign buyers in tourist provinces is rising sharply, particularly from Russian and Chinese buyers. Russians are showing a growing interest in purchasing real estate abroad, including in Dubai, Turkey, Phuket, and Pattaya.

Earlier this year, Habitat Group actively marketed to foreign customers, collaborating with both Thai and international agents, showcasing holiday home projects like Highland Park Pool Villas Pattaya, which currently sees 70% of sales from Thai customers and 30% from foreign buyers.

In terms of investment properties or Lifestyle Investment, the response has been positive from both Thai and foreign customers, as rental yields for Lifestyle Investment projects tend to be higher than for standard condominiums. Additionally, we have a subsidiary, Habitat Hospitality, that collaborates with leading brands (Branded Residence) to manage rooms, conference facilities, and restaurants professionally, providing a reliable investment with lower risks compared to other types of investments, resulting in satisfactory long-term returns compared to current bank deposit interest rates.

"Pool villas in Pattaya priced at 10-20 million baht are selling well, with foreign buyers purchasing them as second homes or retirement residences. The investment property market continues to grow steadily and offers good returns, while the demand for condos in Pattaya is rising as more tourists arrive. Currently, the highest condo prices in Pattaya are at 200,000 baht per square meter, and it is expected that in the next 2-3 years, prices will jump by another 30-40% to around 250,000-300,000 baht. Therefore, this presents an opportunity for both Thai and foreign buyers to purchase real estate for personal use as a second home and for long-term investment returns," Mr. Chanin concluded.

In its past achievements, Habitat Group has invested in developing 8 real estate projects for investment in Pattaya, with a total investment value of 6 billion baht. Four of these projects are already operational as hotels and pool villas: The Ville Jomtien, X2 Vibe Pattaya Seaphere, X2 Pattaya Oceanphere, and Bayphere Hotel Pattaya. In 2023, four more locations are set to open: Bayphere Premier Suites in Q3, Wyndham Atlas Wongamat Pattaya, Bluphere Pattaya in Q4, and Ramada Mira North Pattaya, which is scheduled to open in 2024.