Issue 22 August by Property Guide Pattaya

What's happening in the Pattaya Property Market Informer Books Announces the Publication of

‘Pattaya Property and Thailand’s Real Estate’

Informer Books have announced the release of Pattaya Property and Thailand’s Real Estate – How to Buy Thai Condominiums, Apartments, Homes & Villas, by Nick Pendrell. The only book published to date specifically about the property market in Pattaya, Thailand, the book is written for both investors and those looking for a holiday home or permanent residence in the city. Written in a light and easy-to-read style, the book guides the reader through the entire process of purchasing real estate in Pattaya from the initial decision-making process right through until the handover and legal registration of the property. Author Nick Pendrell said, “I have studied real estate markets throughout the world in order to find the latest property hotspot – and that place is Pattaya, Thailand. With prices still starting at under £20,000/$30,000, property in the city is still highly affordable and offers great rental yields for investors and an excellent, relaxed living environment for retirees and holiday home buyers. Most people still don’t realize that it’s now possible for foreigners to buy condominiums on a freehold basis in their own names. However, as increasing amounts of people from all over the world come to realize that it’s possible for anyone to own a little piece of paradise, the market will continue

The book is written in two parts. Part One ‘holds the reader’s hand’ throughout the entire purchasing procedure, explaining the complexities of property purchase in Thailand both in principle and in practice, together with a host of tips for ensuring that buyers select the very best property that meets all their needs. Part Two compares 40 different developments currently on sale in the city, explaining their suitability for all different types of buyers depending upon their own individual requirements and desires. As the only practical guide on the subject written to help even complete beginners purchase their first overseas property, Pattaya Property and Thailand’s Real Estate is an essential purchase for anyone considering buying real estate in the city. ABOUT THE AUTHOR Nick Pendrell has been an analyst and writer covering the field of international real estate for the past six years, constantly looking for the most interesting property markets in the world for both investors and lifestyle buyers alike. His first book was Hurghada Property & Egypt’s Red Sea Riviera Real Estate, published in 2007. Pattaya Property and Thailand’s Real Estate is his third book.

How to Buy Thai Condominiums, Apartments, Homes & Villas

Informer Books ISBN:978-0956144843 (International Edition) Booksmango ISBN:978-0956144850 (Thailand Edition) Price: £9.99, $12.99, €12.99, AU$14.99, THB 599 Pages: 200, Paperback 6 x 9” (also available on Kindle, iTunes, Sony ereader, B&N Nook and all other major ebook formats) Publication Date: 1 August 2012

Issue 22 | August 2012

Pattaya Property to Benefit from Record Tourist Numbers in 2012

to boom for many years to come’.

Pattaya Property and Thailand’s Real Estate The Book is available from;

NEWS

Photo By Pranav Prakash

According to a report by hospitality consulting firm, C9 Hotelworks, Pattaya is well on track to accommodate a record breaking total of 8 million hotel guests in 2012 the highest-ever number of visitors to a Thai tourist destination. The report indicated that occupancy rose by 17% and 9% in 2010 and 2011 respectively, while the number of visitors to the region doubled in 2010 after a poor 2009 due to the aftershock from the economic meltdown of 2008. Greater quantities of Russian and Chinese tourists, together with a large increase in the number of Thai visitors to the city from other parts of the country were largely responsible for the increase in number of tourists visiting the city this year. As a result, Pattaya now completely overshadows Hua Hin as the most popular tourist destination in Thailand for both Thais and foreigners alike.

Property prices in the resort city are still very low by international standards whereas rental rates for quality real estate are continuing to increase rapidly. This is leading to exceptional rental yields where 8% is becoming the minimum that property investors can expect. Other factors mentioned by Mr. Barnett relevant to the increasing potential of the Pattaya property market were the number of big-name hotel chains entering the market and the launch of the billion-baht Cartoon Network themed waterpark opening between Pattaya and Bang Saray in 2013.

As well as increased numbers of tourists, Pattaya is also benefitting from heavy foreign investment in an auto-assembly plant close to the city. The Managing Director of C9 Hotelworks, Bill Barnett, who has worked in the field of Asian tourism for 27 years, said that investor sentiment has not kept up with market reality, stating:- “The real estate market in Thailand is hot and there is no oversupply of hotel rooms in the pipeline, signifying wellbalanced growth.” It should come as no surprise to read that a leading analyst in the field of hotel hospitality is positive regarding the longterm growth potential of the Pattaya property market as demand for accommodation in the citycontinues to exceed supply.

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The recently re-elected Pattaya mayor, Itthiphol Kunplome, is tirelessly campaigning to turn the city into a more family-friendly environment. The family market in Pattaya is currently in its infancy but, as the mayor continues towards his ultimate goal, the potential for growth in Pattaya’s property sector is even greater as a whole new demographic of buyer starts to enter the market.

Property Guide Pattaya's development news feature

FEATURE

GRANDE CARIBBEAN CONDO RESORT

Up until now, those interested in buying in the Jomtien area have had a fairly simple choice. One option would be to buy in one of the tower projects such as Cetus, Dusit Grand Condo, AD The Grand Jomtien, La Santir, etc., which offer excellent sea views from all but the lower floors, but have relatively small pools and a limited range of facilities. The other option would be to purchase on one of the resort projects such as Atlantis, Amazon, the Laguna Beach Resort projects or Zen in the Park, with their huge pools and wide range of on-site attractions to choose from, but which lack the sea views. Now, however, buyers can have the advantages of both types of developments following the launch of the Grande Caribbean Condo Resort. Grande Caribbean Condo Resort is a concept that is currently unique in Pattaya – a large resort with all of the

features that you could expect to find at any competing resort, with the addition of a 30-storey tower at the front, from which there will be perfect sea views from front-facing units on all but the lowest floors. Although the development is 800m back from the sea, there is just empty land between the development and the sea, which means that there is nothing to block the stunning views from the front of the tower. The project also benefits from a unique location too. It is located on the Thrappaya Road, which means that all of Pattaya’s main attractions – the beautiful sandy beaches of Jomtien, the hustle and bustle of Central Pattaya and the fabulous views from Pratumnak Hill – are all less than a ten minute drive away. However, when you see the wide array of facilities at the resort, it will probably

take a lot to entice owners away from all of the attractions right on site. Grande Caribbean Condo Resort occupies a large, 11.5 rai site, which means that there is plenty of room for massive pool areas in the centre of the complex. Grande Caribbean takes the nautical theme of the developer’s previous project, Atlantis, and gives it a distinctive pirate theme, with a lighthouse in the centre, two ships, a waterfall plus a novel volcano featuring a jacuzzi in addition to a sandy beach area, offering plenty of attractions for the children to explore while their parents relax. In total, Grande Caribbean Condo Resort features a massive 1,052 units split between the tower at the front of the resort and four 8-storey buildings surrounding the pool behind the main tower, ideal for those buyers who want quick and easy access to the pools.

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Issue 22 | August 2012

Property Guide Pattaya's development news

FEATURE

All of the units at the project are 34.5m2 one-bedroom units offering plenty of room without any wasted space. Two units can be combined to form a 69m2 two-bedroom/two-bathroom unit. All of the units here are supplied on a full turnkey basis everything a buyer needs to move in and start enjoying the apartment straightaway. Although Grande Caribbean was only launched at the end of June, large institutional investors were quick to see the great value offered by the development, which means that a significant percentage of the development sold within a matter of hours, including most of the cheapest units on the lower floors. As a result, starting prices on the resort are currently start at around THB 2.2 million â&#x20AC;&#x201C; still reasonable considering the developmentâ&#x20AC;&#x2122;s far superior location over competing resorts in the Jomtien area and the far superior facilities on offer here versus other towers in the area. Foreign buyers at Grande Caribbean will also benefit from highly attractive payment terms, with 45% not due for payment until handover, which is scheduled for the start of 2015. In summary, Grande Caribbean is a unique and exciting addition to the variety of condo developments currently on offer in Pattaya and should appeal to a wide variety of buyers.

The onsite sales office and showrooms are open now on Thappraya Road. We urge you to visit these beautifully styled and fully furnished condos. For more information call 0800 095 8854 or visit

www.GrandeCaribbeanPattaya.com Issue 22 | August 2012

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NEWS

What's happening in the Pattaya Property Market

PATTAYA PROPERTY OUTLOOK 2012-2013 Real Estate Seminar - 8 August 2012 Eastern Grand Palace Hotel, Soi Khoa Talo REBA-ES and the Agency for Real Estate Affairs proudly present a Seminar on the recently surveyed Pattaya property market. The survey was conducted by Dr. Sophon Pornchokchai, PhD, D.FIABCI, CRS, MRICS.

Gain a better understanding of the up-to-date market position as recently surveyed for investment purposes with an In-depth analysis of residential properties including single houses, duplexes, townhouses, shophouses, condominiums and land plots by eight price ranges. A most comprehensive survey covering 650 projects; 250 projects are in Pattaya City, 330 projects are in other six urban centres in Chonburi and 70 projects are in other three urban centres in Rayong. Reported by Dr.Sopon Pornchokchai, for Real Estate Affairs (www.area. co.th) which is the first and largest real estate information, valuation and research conducted in Thailand since 1994, together with a panel discussion by renowned major real estate professionals with expertise on the Pattaya market. The Program; 12:00 Registration 13:00 Opening Speech and Keynote Address by the Mayor of Pattaya City. Introduction by the President of the Real Estate Brokers Association Pattaya (REBA Eastern Seaboard) 13:45 Presentation: Major Findings, Pattaya Property Markets and Outlook Dr.Sopon Pornchokchai, PhD D.FIABCI CRS MRICS President, Agency for Real Estate Affairs (AREA) 15:00 Afternoon Refreshment 15:20 Panel Discussion: Pattaya Property Outlook, 2012-2013 (Panel participants yet to be confirmed) Introduction by : Mrs.May Watson who is President of REBA Eastern Seaboard, Developer, Broker and Government Officer. 17:00 End of the session. The Organizers; Real Estate Broker Association Eastern Seaboard: www.rebaes.com is an association of brokers and agents in the Eastern Seaboard region of Thailand. It was found in 2006 with individual and corporate members. Within the Association, there are also sub-committees to help uplift the professional practices of members to always have better professional services to consumers. Agency for Real Estate Affairs www.area.co.th is a property consultant firm as well as real estate information, research and valuation centre in Thailand. It is specialized in real estate consultancy services while refrains from real estate brokerage and self-interest property developments to avert a potential conflict of interest; thereby insures the integrity of our valuations and research works.

Why Chinese Property Bubble is Good News for Pattaya Property

"Currently, the property market adjustment is still at a crucial stage and we must unswervingly continue the work and make the fight against speculative property investment demand a long-term policy," he said, according to China's official Xinhua news agency. Prices of property in China’s major cities have already become unaffordable to the majority of ordinary residents as cash rich speculators have constantly been buying up property for investment purposes.

As it becomes more difficult and more expensive for Chinese citizens to buy in their domestic market – and their returns on investment start to diminish - it is inevitable that more Chinese buyers will start looking outside their home market for future property investments. This is excellent news for those who have already bought property in Pattaya or are planning to do so in the near future because it is sure to increase prices rapidly and will lead to an excellent resale market, selling on to buyers entering the market some years into the future.

China already has a number of restrictions in place to try and prevent rampant house price inflation, which include putting a cap on the number of homes a family can buy, requiring larger deposit payments and charging higher mortgage rates for people buying second homes. "We must not allow housing prices to rebound that will waste all of our previous efforts," was the stern warning given by the Chinese Premier.

For procrastinators though – those people who are interested in buying but aren’t sure whether to buy just yet - it is bad news, however. The bottom-line message is quite simple – those who are willing to buying Pattaya property and wait are going to see tremendous returns over the next five years; those who are planning on waiting to buy Pattaya real estate are soon going to find themselves prices out of the market.

The Chinese government’s new, harsher initiatives to try and stop a property bubble from emerging on their domestic market is great news for potential buyers of Pattaya property – as long as they act quickly to seize the potential that currently exists on the market.

Fee; 850THB per person including handouts and refreshment. Comprehensive research paper: Baht 4,000 per copy. Fees can be paid to any REBA-ES member or direct to the Agency for Real Estate Affairs http://www.trebs.ac.th/English/SUMMARY/seminar_pattaya.php

Thailand and Pattaya in particular is for the Chinese what the Spanish Costas were to British and other Northern European buyers twenty years ago – a perfect holiday location which offers affordable real estate making providing both a perfect holiday home plus great investment potential. Already, Chinese tourists comprise the second largest number of foreign visitors to Pattaya, outnumbering British visitors, for example, by a factor of six to one. However, they currently represent only a very small proportion of buyers of Thailand property as few companies are actively marketing their developments towards Chinese buyers.

Chinese Premier, Wen Jiabao, recently announced that the Chinese government was taking action in order to try and lessen the risk of a bubble emerging in the Chinese real estate market.

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