REM Thailand - September 2012 - Issue 136 by Pattaya Property Consultants

REALESTATE e n i z a g a m thailand

Japanese show increased interest in Pattaya market

Getting a job is hard work

amazon residence

now the adventure begins See Page 12

Issue 136 • September 2012

เรียล เอสเตท แม๊กกาซีน ไทยแลนด์

who’swho

Managing Director Dave Buckley Tel: 087 988 0799 dave@thailandpropertymagazine.com Publisher/Editor Mesiya Watson may@realestatemagazinethailand.com

Our team

Since 2001 – Thailand’s first English language property magazine

Nowhere I’d rather be In moments of quiet reflection which usually descend on me

Sales and Marketing Wongduan Roberts Tel: 087 535 8096 duan@thailandpropertymagazine.com or realestatemag@hotmail.com or dave@thailandpropertymagazine.com Office/Accounts Tel: 038 406519 or 08 6335 2474 dear@thailandpropertymagazine.com Web address www.remthai.com www.realestatemagazinethailand.com Artwork, Design & Layout Zen Grafix • Tel: 038 406519 Publisher Pattaya Property Consultants Co Ltd 21/27 M5 Soi Nern Plub Waan Nongprue • Banglamung Chonburi 20150 Tel: 038 406519 or 08 6335 2474 Fax: 038 041158

about 1 am while slightly inebriated, I sometimes consider how my life has evolved over the past few years. Don’t worry, I’m not about to get all maudlin on you here, but sometimes it does no harm to take stock. The reason for my most recent introspection was prompted

Dave Buckley looks at a the influence the worldwide web is having on everyone – including Real Estate Magazine

by two things. One, I’ve been reading a book by TV’s Top Gear presenter Jeremy Clarkson called “How Hard Can It Be?” in which he says only failures run off to be expats. The second was when Dave D, the 105FM presenter, asked me what was still waiting to be ticked off on my Bucket List. As Clarkson says, he’s met many an expat who left the UK and spends his days running down the “old country” to anyone who will listen – the “I don’t know how you can live in ......” people. We’ve all met them and, at times, I’ve probably joined their ranks. But I don’t feel a pressing need to indulge in a lot of selfjustification for being an expat. Things happened in my life that led me here and, with the benefit of hindsight, I reckon I could have done a lot worse that choose Pattaya as my new “home”. Can I name one positive that I stumbled upon in Pattaya? Well, the major one is the greater acceptance that the Thais have for people the wrong side of 50. I’m not talking about bar

girls trying to convince a 75-year-old that he still a “very handsome man”. No, the Thais genuinely seem to value the experience the elderly can call upon and share with

Publication Licence Number 2/2549

them. If I might be allowed just one sideswipe at the “old country”, this is not the way

Disclaimer: All rights reserved. No part of this magazine may be reproduced without the written consent of the editor. The publishers are not responsible for any error contained within the magazine. The publishers also accept no liability for the accuracy of statements made by the advertisers or writers. The views of correspondents are not necessarily those of the magazine. Articles are produced containing upto-date information to the best of our knowledge. However, we accept no liability for information contained within any article.

someone live in the same house as their grandchildren is almost unheard of.

2•REm•Issue 136•09/2012

back in England. Folk older than 50 are nigh on unemployable and the idea of having What about unfulfilled ambitions? The Buckley Bucket List! When Dave D asked me this question on air the other week he caught me a bit off-guard. I managed to blurt out that I would like to visit South America in general and Rio in particular. But apart from that – and the desire to watch all five days of an Ashes Test in Sydney if we can bat for that long – I can’t think of too many other things to put on the list. So does that mean Pattaya has fulfilled all my other ambitions? Not really, but it has ticked a lot of boxes for me. If you are a tourist reading this and are considering what to do in later life, think about Pattaya. It’s a long way short of paradise and Christmases here lack the feel good factor experienced in many other parts of the world. But day by day and week by week life here has many plusses. Here you can feel you are a member of a progressive society, not just a burden to everyone. An expat failure? I love your work Jeremy, but sometimes you do write bow locks!

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AAAA Properties 20 A.D Condominium 24 Alan Bolton Property Consultants 88 Amari Residences Pattaya (Nova) 37 Amazon Residence (Matrix) Cover, 60 Anaakot Group 53 Atlantis Condominium 49 Best Price Real Estate 32-33 Black & White Properties 19 CARS Pattaya (map sponsors – Tulip) Inside back cover Centara Grand Residence (Tulip) Inside back cover City Center Residence (Matrix) 59, inside Living cover Cliff, The (Nova) 17 Coastal Real Estate 26 Colliers International 65-72 Connect Property Living 9 C-View (Heights Holdings) 48 East Coast Real Estate 41 Elegance Condominium @ Cosy Beach 25 Euro Design Furniture Living supplement 7 FARANG Services 4-5 Foodland Living 13 Global Property (Global Solidor) 27 Golden Homes Real Estate 10-11 Grande Caribbean Condo Resort Pattaya (Blue Sky) 23 Green Field Villas 4 18 Heights Holdings Inside front cover, 1 Laguna Beach Resort (Heights Holdings) 47 Laguna Beach Resort – The Maldives (Heights Holdings) 42-43 Lion Bar, The Living supplement 39 Matrix Group 62-63 Meridiem Park Condominium (Domum) 28-29 Nam Talay (Nova) 35 Neo Condo 21 Novana Residence (Nova) 87 Owners Direct Real Estate 82-83 Palm, The (Nova) Back cover Paradise Ocean View 3 Pattaya Bay Real Estate Facing 25 Pattaya Realty 14 Ponard Design & Construction 31 Porch Land (The Feelture, The Prim, La Santir) Between 40-41 REBA-ES (Real Estate Broker Association) 76-77 Serenity Wongamat (Nova) 15 Seven Seas Condo Facing 24 Siam Corner 30 Sixty-Three@12 (Anaakot) 52 SMART Expo 81 Talay Real Estate 38-39 Times Gentleman’s Club Living 29 Town & Country Property 8-9 Tropical Dream 22 Vision, The (Matrix) 64 Waterfront Suites & Residences (Tulip) Facing 73, 79, Living 5 Water Park Condo (HH) 46 4•REm•Issue 136•09/2012

OURCONTENTS

cover story

pattaya

No low season at Matrix Group

living (

SEPARATE SUPPLEMENT

)

Cover STORY: This issue a new column is introduced – the Nite Owl. The Owl’s first visit is to the Leo Blues Bar in Naklua Soi 18 where

the music is as cool as the beer. Sales in the four buildings that comprise the Amazon Residence are progressing very well. Indeed, that’s the story for all of the projects being marketing by the Matrix Group. For them there is only a high season topped by a peak season.

24: it’s showtime! The Insider Report gives you the lowdown on what to look for when you are visiting a building project showroom and how small items can give clues about the finish.

50 44

The Maldives is the boldest Laguna Beach Resort project to date from Heights Holdings.

6•REm•Issue 136•09/2012

The is an early rendering of the lobby at The Cascades, a new project from a Japanese group.

The regeneration of Pattaya. A

17: why you can sling singapore – Travel

look at the ingredients that have

Log explains why it is just too expensive in the

helped move the city on.

island state to be enjoyable.

NEWSREPORT

The Palm secures major funding Last month The Palm, Wong-Amat Beach, completed their construction finance loan agreement with Siam Commercial Bank in which SCB committed to a Bt800m loan to assist in the construction of the 46 and 26-storey luxury towers in North Pattaya. Winston Gale, partner and developer in The Palm, said: “It is a very positive milestone we have reached. We have been banking with SCB from the beginning and have worked closely together. This close co-operation has enabled the bank to understood our requirements so they were eventually able to provide us with the best financial package. “Of course this is also welcome news for our existing buyers who can now see the financial security this provides our project.” The luxury project is more that 83 per cent sold and has just completed the piling stage of construction on both towers. Soon buyers eager to see The Palm grow will have Khun Sommai Ungsrithong (SCB Commercial Banking), second left, poses with their time as, by year-end, it is expected to be at least to the The Palm partners (from left) Khun Birathon Kasemsri Na Ayudhaya, Rony 10th floor. Fineman and Winston Gale.

Forum hears about city ‘buzz’ Leading local property developers last month joined key private and public sector organisations in the inaugural Pattaya Property Outlook Forum organised by the Agency for Real Estate Affairs (AREA) and the Eastern Seaboard chapter of the Real Estate Broker Association (REBA-ES). The event was opened by the Deputy Mayor of Pattaya, who revealed a number of long-term environmental improvements for the area including a new reservoir, assisting water supply, a massive garbage incineration facility and a waste-water plant capable of handling 130,000 cubic meters per day. AREA President Dr Sopon Pornchokchai presented new research highlighting the strong growth of real

estate in Pattaya since 2008 propelling the city to become “the second city in Thailand” – with a stronger and more valuable property industry than any other city in the country. Among those invited to share their expertise was Kingdom Property chief executive officer Nigel Cornick (left, top), who has been involved in real estate development in Pattaya for the past decade. He told delegates there was a real buzz about the city again. There is a boom “There is no doubt about it but there is a boom in real estate in Pattaya, particularly in the Bt3-7m price range. Tourism numbers are increasing. Plus

there’s the Eastern Seaboard, which is growing and bringing new property buyers, such as from Japan.” Also on the panel was Matrix Development MD, Miki Haim (left, below) who spoke about his company’s intention to move a little further upmarket with future launches. The forum was well attended with more than 100 guests present. REBA-ES president May Watson said afterwards: “All the feedback I received says it was a great success which was very gratifying. This is just the type of event REBA-ES wants to help promote.” l See Transparency, a new REm supplement in association with REBAES, next month for a fuller report.

Final phase completed at Whispering Palms Town & Country Property have announced the completion of the final phase of their Whispering Palms development near the entrance to Horseshoe Point. The phase comprises 13 four-bedroom villas which are available for sale and rental. The homes offer either 210sqm or 246sqm (plus maid) usable interior space. All have a guest toilet and four bathrooms en-suite; European style kitchen with full appliances; carport; luxury quality fittings throughout; u-PVC sliding-doors and window fittings; quality air-conditioners in each room (six in total); plus a full interior decoration package with soft and loose furnishing; all gardens are installed and each home comes with a private pool.

For the well read ... 09/2012•Issue 136•REm•7

COVERFEATURE

There’s no low season in the Matrix calendar

hen it comes to sales, there’s no such thing as a low season as far as the team at Matrix Developments are concerned – there’s only high and peak! The reason for this is simple. The company enjoys good sales year-round, but they tend to be boosted from October to March. “Average sales rarely drop below 90 units per month,” explained Patrick Shinnors (pictured), who was recently appointed as Matrix’s sales manager for the English-speaking and Thai markets after two years with the company. “But history tells us that from October through to March these figures shoot up to 150-plus,” he added. No different Matrix don’t expect that this high (sorry, peak) season it will be any different. At the time of our meeting Matrix had a little more than 1,500 units in active projects (those not sold out). Of these just 12•REm•Issue 136•09/2012

under 400 remained available for sale. And that was without taking into account those units with reserved next to their name. Also the figures are distorted by Building 4 in the Amazon project which hasn’t been released yet to the local market, writes Dave Buckley. Given that we met mid-month I would expect those figures to have improved still further by the time you read this. Matrix are close to selling out in Buildings 1 and 2 at Amazon with just 12 and 21 units left, respectively. “We expect to start building Amazon at the end of this year,” said Patrick. “Construction work on the shells of all four buildings will start at the same time and we expect Building 1 to be available in either Q3 or Q4 of 2014.” Units in Amazon are sized 35sqm, 40sqm or 70sqm with a start price of Bt1.33m for a fully furnished apartment. “At present the fourth building in Amazon has only

been released to the international market and we have sold 20 per cent of the units,” said Patrick. Sales at City Center Residence, which was launched just a short time ago, are racing along with only one-third of the 228 units still available. A new video for the project can be found on YouTube. No big discounts “We don’t offer massive discounts to investors thinking of buying multiple units as we don’t think it is beneficial to us long term,” said Patrick. “We are confident that we will sell them, anyway, without taking too much off the price.” Most of Matrix’s sales are in the Bt1.5-Bt2.5m range and the buyers span the globe. “We are getting a lot of interest from Middle East buyers and from Australia where the strong dollar is making our units especially affordable,” said Patrick. “Europe is a bit slower but that’s to be expected given the problems the Euro

has been encountering just lately.” Soon winter will hit Scandinavia and Russia and Matrix anticipate a pick-up in interest from these cold weather countries over the coming months. “People from Scandinavian countries seem to favour high end, low rise projects though I’m not sure why they seem to steer clear of high rise,” said Patrick. Matrix, of course, have both high and low rise on their books to cater for all tastes, though the high-rise project, The View, has sold out. Indeed several of the company’s projects are either sold out, nearing completion or a combination of both. Another launch? “You need to be thinking about launching something else,” I joked with half an eye on them still needing to market projects. “Oh, we are planning to,” said Patrick. “All being well we hope to announce a new Jomtien high-rise project in November.” I sensed there was little point trying to press for more details. Ω

2 1

1 An architect’s rendering of part of the giant pool which will be a key feature of the Amazon Residence in Jomtien. 2 Still with pools ... this one will be build at the City Center Residence and will have a gym feature at the far end. 3 Interiors now ... this picture shows a projected living room in the Amazon Residence. 4 Here we see the planned living room in City Center Residence. 5 And finally the living room in Sunset Boulevard II. Building 1 is fully sold out but there is very limited availability in Building 2. 09/2012•Issue 136•REm•13

newsREPORT

Website responds to market needs • Thai Prime Minister Yinglick Shinawatra is moving up the Forbes league table of the 100 most powerful women in the world. She is ranked 30th. Last year, when she entered the list, she was 59th.

Choice Group Asia’s much acclaimed CondominiumPattaya.Com business has made a significant strategic modification in how it operates. A spokesman for the business said: “The change will better serve the changing needs of the customer and market conditions. With an estimated 30-plus developments being constructed in Pattaya it has become increasingly challenging for the customer – in a hugely positive way – to find the condo most suited to their needs.” The CondominiumPattaya.Com site boasts high daily customer traffic and the social networks and their You Tube channel have proven invaluable in sharing information with consumers. The spokesman added: “However,

to ensure impartiality and excellence in information from condo to condo, the site will move away from an agency model to a more transparent portal model. “If you take a truly customercentric position about the best strategy for our business you can only arrive at this decision. It has to be about the customer otherwise you try forcing and creating needs that don’t exist. As a result we believe we further enhance our business model to deliver an even better product for the end consumer. There is no question that they will get some of the finest, most unbiased and

most comprehensive information about all new condo builds in town.” CondominiumPattaya.Com will continue to produce video feature updates for all the key condominium developers in Pattaya “Video is the hidden secret for online marketing and some of our videos receive more than 20,000 views per month. This is a staggering performance,” he added. “It’s an exciting and customer-focused move that will ensure anyone using CondominiumPattaya.Com, whether it’s through the website, social networks, email newsletter or online video channels, receives impartial advice and direct access to the developers, with CondominiumPattaya.Com taking no agency commission.”

Grass is greener on Dark Side! The grass is definitely greener on the other side (of the Sukhumvit) according to Alan Bolton Property Consultants (ABPC), who are selling houses like it’s going out of fashion at the latest Green Field Villas 4 development. ABPC sales manager Steve Scholey explained: “We have had huge success in the past few months selling 35 per cent of GFV4 in East Pattaya. The association we enjoyed on their three previous developments prompted us to want to get involved from the onset.” Steve said: “Paul Barrett (Green Field MD) has been living in Thailand for many years and, as a local developer, he knows what buyers are looking for – beautiful houses built to European standards in a charming and relaxed

in brief • CW Asset has a new sales office in Thappraya Road to support their two Bang Saray projects and a new third condo development AbaTalay Condominium at Jomtein Beach.

environment. Paul also knows what local agents are looking from him and his team to assist us in selling the product – so he has competent sales staff, easy payment terms and honest pricing.” GFV4 have come up with a project to appeal to both the quality minded and the budget conscious, Steve added. They are building a 28-plot village, with three different style of houses, both bungalow and two-storey on 14.5 rai of prime land only a few minutes from Wat Suttawas, local amenities and easy access to the highways and Bangkok. In total GFV4 have now sold an astonishing 24 of 28 the plots since launch and Paul Barrett is already looking to secure the land for their fifth project near the Regent’s International School.

Sneak peek at the Seven Seas giant The ‘charms race’ among developers of resorts in Jomtien will escalate once again in terms of the facilities they offer to buyers with the launch of a new project in October called Seven Seas. The development will contain approximately 1,500 apartments, with attractive starting prices starting at Bt999,000 for a studio and Bt1,299,000 for one-bedroom units. Located at the intersection of Jomtien Second Road and Chaiyapruek

16•REm•Issue 136•09/2012

Road, just 500m from the beach, Seven Seas will occupy a vast site covering 15-rai, making it larger than any of the other Jomtien resorts currently on sale. “Due to the large size of the plot the building density is significantly lower than at competing resorts,” said a spokesman for the project. “This means there is plenty of room for the huge swimming pool with its seven islands, which will occupy a vast 6,000 sqm. The developer of Seven Seas is

Universal group, a new entrant to the Pattaya property market. The company is not lacking experience, however, being a subsidiary of a large international conglomerate which has been building high-end condo projects elsewhere in the world since 1995. Financing for the project is already in place following an agreement made with LH Bank. We hope to bring you more on Seven Seas in a future issue.

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09/2012•Issue 136•REm•31

• Best stock and of unipritcsesavaiforlaoff-pl ble inannewdevelprojopments ects at better than builder prices • Buy g on commi ssionoper has sold out We distirlecthavefrompoolthesidowner e unitsandavaisave lablebiwhere the devel

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MYSTERYcolumnist

This month our insider looks back at the trends that have emerged over the past year. People from western Europe are buying more than you might think, though some attribute this as much to a desire to get money out of troubled countries as to owning in Pattaya.

Reasons that Pattaya continues to thrive ... By undercover AGENT

s we move towards high season I think everyone is looking forward to happier, more successful and prosperous times. This month I would like to look at some of the patterns that have been emerging over the past 12 months. Pattaya, like most other places in the world, has been adversely affected by the economic downturn in the past few years. However, in our office at least, we have had a notable increase in the number of customers actively looking to buy properties or rent for the longer term. These long-term expats in my opinion (maybe slightly biased due to my job!) are what Pattaya really needs to continue to grow. I am not dismissing the important role that

34•REm•Issue 135•08/2012

tourists play, but, in reality, their visits tend to be seasonal and do not consistently boost the local economy. The longer term visitors give local businesses the opportunity to consistently grow and meet customers’ demands. The recent problems with the Euro have obviously had some affect, but I think the impact has been far less than what many thought or feared. Moving money out At our office we have had a number of customers from western Europe looking to buy both houses and condos. This may surprise you. I have heard several people speculate that a likely reason for this is that people are looking to move money out of their troubled home countries. Possibly, this is correct but the

‘‘ Problems with the Euro have had some affect, but I think the impact has been far less than many thought or feared.

relative strength of the baht against the Euro makes buying property comparatively expensive. Time will tell if this pattern will continue or whether it is merely a blip. I think we all hope this will continue. Another point for discussion is the number of visitors to Pattaya. Although we are still in the low season I think many bars and restaurants have been pleasantly surprised at the number of customers they are receiving. The public holidays last month saw a huge influx of people into our city. A lot of these were Thai nationals travelling down from Bangkok. But, nevertheless, I think that this can only be seen as a positive thing, generating more revenue for the local economy. Over the past 12 months we have

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seen a rapid increase in the number of condos being built, and, more importantly, sold. This reflects the fact that Pattaya is a successful city. However, I am often asked if I believe that there are too many condos being built. My answer to that would always be quite simply that there must be the demand otherwise the developers wouldn’t continue to build the projects. Also, these projects tend to sell relatively quickly. I think this would suggest customer confidence as many of these projects are yet to start or are certainly some way off completion. What I would say is that I believe that some of the older, lower end, lower quality condos will be affected and selling units in these condos will become harder and harder as a new condo is often cheaper and of a far higher quality. Again I feel that this is a good thing for Pattaya as everyone can only benefit for the higher quality product.

‘‘ A lot of developers are now aiming the focal point of their advertising at getting customers to visit them direct rather than going through agencies.

’’

Land prices The price and availability of land may have some bearing on whether these developments continue to be built at their current rate. Quality plots of land in areas such as Wong-Amat are few and far between and those that are available tend to be at highly inflated prices. Not surprising, as demand is exceeding supply. But there has to come a point where it is impossible to build units cheaply enough to match consumer demand. Something that has been more apparent even in this low season has been the fact that many of the 36•REm•Issue 135•08/2012

cheaper hotels and lower end condos are now fully booked. We are getting countless enquiries from people looking for condos to rent around the Bt10,000 per month, but with very few options to be able to show our customers. As touched upon earlier, I think this market is one that has been recognised by the developers with increasing amount of condos being built that are around the 25-30 sqm size and selling for around Bt1m. Something which has become more common this year is the number of properties being bought in a Thai name. This applies to both condos and houses. This is Thai nationals buying for themselves as well as foreigners buying properties in their Thai partner’s name. This is perhaps less surprising when it comes to houses as the usual stories continue to be bandied about the possible pitfalls of buying properties in company name. On this subject we advise people to exercise caution but it is not something that needs to be avoided all together. To us the more surprising element is the number of condos being bought in Thai or company name. The pattern in previous years had certainly been more towards buying in a foreign name. One reason for this could be that, as Thai quota tends to be cheaper, investors are buying in this manner to maximise their return on investment. An alternative could just be simply because the units are cheaper and people have less money in their wallets!

Another pattern that appears to emerging from talking to many other agents is that a lot of developers are now aiming the focal point their advertising at getting customers to visit them direct rather than going through agencies. While on the one hand this can be good for customers as they may get a bigger discount, we find that a downside is that the customer tends not to fully evaluate the different projects or look at all options available. Unbiased advice As much as agents obviously want to sell properties, I think most of us would contend that we can give more independent, unbiased advice looking at all options rather than those of just one developer. We hope it is also a better experience to meet an agent, try to build some sort of rapport and relationship with him or her and then they are in a better position to give advice. After all, you may require these agents in the future to sell your property or rent it out! The fact that some developers are ‘going it alone’ has encouraged many agents to re-think their marketing strategies. Many are now moving away from promoting off-plan or projects direct from developers instead favouring the re-sale market. Again we will only see over the longer term if this policy proves to be correct. Hopefully, this current upturn will last and all restaurants, bars, shops and of course real estate agents will feel the benefit! A prosperous city is a happy city so until next time keep enjoying the land of smiles!

Prices From 2.7MB Tel. 038 252 996

www.thelegendpattaya.com

constructionupdate

The Blue is hitting its targets I

t has been a while since we’ve reported on Porchland’s The Blue Residence Condominium in Soi 87 off the Sukhumvit Road. And if we had left it much longer there would not be a lot left to say! The project is drawing close to having a full skeleton complete and the builders are hitting all

40•REm•Issue 136•09/2012

the deadlines that have been set for them. The Blue Residence is the third of seven projects under the Porchland banner. It sold out very soon after its launch and progress on its construction has been almost as quick. The Blue comprises eight commercial buildings fronting onto Soi 87 with two eight-storey

blocks behind. The commercial buildings are 90 per cent complete and the residential blocks are at levels 6 and 4. A spokesman for the Porchland Group said: “We are delighted with the progress made on The Blue Residence. Like all our projects it has been a great success and we would like to say a big ‘thank you’ to our owners

and investors for their trust and support. We hope we will have their support in every project of Porchland Group. “Construction is on target and we aim to deliver the units to their owners just as soon as possible.” l For more information on any of the company’s projects please call +66 (0)82-444-1147.

eastcoast@thaiproperty.com • www.thaiproperty.com baan chalita 2 East Pattaya Land size: 76 sq.w House size: 105 sq.m Euro kitchen In secure development

3 Bedrooms 2 Bathrooms Held in Thai name 50/50 tax and transfer fees

sale: 2,250,000 Baht kieng talay Pratumnak Hill Condo size: 86 sq.m 2 Bedrooms 2 Bathrooms Euro kitchen

Front corner unit Fully furnished Easy access to beach In foreign name

sale: 3,500,000 BAHT c’est palai Jomtien Land size: 200 sq.wah House size: 350 sq.m Modern Thai concept Fully furnished

3 Bedrooms 3 Bathrooms Convenient location Long term only

rent: 70,000 BAHT/month view talay 5 Jomtien Condo size: 48 sq.m Euro kitchen Studio 1 Bathroom

Sea views Fully furnished Direct beach access In foreign name

saLE: 2,520,000 BAHT

Jomtien

038 267 030-1 • Pattaya 038 723 615-6

SPECIALFEATURE

Maldives is the boldest Laguna Beach Resort yet

FACT SHEET l 15th release from HH l On Thepprasit Soi 9, Jomtien, South Pattaya l Less than 2km from Pattaya city centre l 800m from Jomtien Beach l 65 per cent green and pool area of more than 16,000 sqm comprising lush landscaping, Maldivesthemed lagoon pool and an abundance of leisure facilities l Commercial areas with shops, bars and restaurants l Underground parking zone l In-house massage sala l Gym and fitness l Standard studio units of 23 & 27.5 sqm, one-beds from 34.5 – 41.5 sqm l Apartments are modular with the potential to create larger 2 or 3-bedroom options by combining units l Completion scheduled September 2015 44•REm•Issue 136•09/2012

he Laguna Beach Resort brand of Heights Holdings goes from strength-to-strength with the release of Laguna Beach Resort 3 – The Maldives, where prelaunch sales have already begun. LBR3 – The Maldives will comprise seven, eight-storey buildings in a project of more than 25,000 sqm. It will have an enormous 15,000 sqm of recreational area with a 5,700 sqm Maldives-themed lagoon pool running throughout. A spokesman for HH said: “The Maldives brings a new resort experience to Pattaya real estate on an scale not seen before. It will be Jomtien’s grandest development to date.” The resort’s communal area will contain three different pool areas, featuring numerous landscaped islands, boardwalks, Gazebo-relaxation areas and three white-sand beaches. Each of the seven buildings, comprising modular studio and

one-bedroom apartments, is set on the outside of the resort, allowing for distances of 120m between buildings. There will be 1,750 apartments. Interior units will feature stunning lagoon pool and tropical landscape views. Exterior apartments overlook the verdant Jomtien parkland, also with Pattaya City and Jomtien Bay views on higher floors. Unprecedented features Additional amenities include a children’s go-kart track, treehouses and tree-top pavilions as well as a putting green. “These are all unprecedented features in Pattaya real estate, exclusive to the Laguna Beach Resort brand,” claimed the spokesman. Shops, bars and a restaurant will be on offer in the inhouse commercial area, with underground parking provided for residents’ convenience. Luxurious open-air lobby areas, multiple fully-equipped

gymnasium suites, and a relaxing massage and spa service provide a uniquely welcoming experience at Laguna Beach Resort 3 – The Maldives. All apartments in Buildings B & C of Laguna Beach Resort 3– The Maldives are on sale as part of the pre-launch sales period, with exceptional early-bird discounts and complimentary furniture packages on the first 300 units sold. Studio prices start from just Bt899,000. The spokesman concluded: “The Maldives provides an exceptional investment opportunity, promising strong capital growth and excellent rental yields, with a selection of bespoke rental management solutions in place upon completion.” l For further details about Laguna Beach Resort – The Maldives, or to request availability and pricing, please contact info@ heights-holdings.com or call +66 85 282 6454.

09/2012•Issue 136•REm•45

D I S C O V E R

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COMPLEMENT YOUR LIFEST YLE OF LEISURE W W W . H E I G H T S  H O L D I N G S . C OM

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SIMULATED IMAGE

from

SPECIALFEATURE

Japanese show increased Young team launch Owners Direct agency and prepare to build new condo project

hen I attended the recent Pattaya Property Outlook seminar at the Eastern Grand Place Hotel several of the remarks made came as a surprise, writes Dave Buckley. Not least among these was the revelation that Matrix’s City Center Residence (CCR) is attracting a lot of interest from Japanese and French buyers. In a market where the concentration seems to be on attracting buyers from Russia this struck me as strange, a little out of step with current trends and left me wondering why this was so. Well, now I have at least part of the answer. The Japanese certainly are taking a big interest in CCR and much of the reason is because a young team of Japanese nationals are recommending it to their investor friends back home. The team consists of Akira Oishi and Sho Kodama who have joined to form a new brokerage called Owners Direct. At the ages of 29 and 27, respectively, they may be young in years but they are not short of experience or business acumen.

‘We haven’t shown them anything yet – not a single drawing or design – and 60 units have already been snapped up’ – Akira Oishi 50•REm•Issue 136•09/2012

Own project They have come to Pattaya, liked what they have seen and will soon launch their own condominium project, The Cascades, in Soi 5 on Pratumnak. I met with the two and one of their key investors, 38-yearold Jotaro (Jo) Nemura plus their American adviser Brian Presson in the foyer of the Hilton hotel. Soon they will have their own office in Tony’s Gym Complex in Third Road.

Perhaps a recent deal involving the Pattaya Posh project in Naklua best demonstrates how Owners Direct works. Akira and Sho negotiate the best possible prices with leading developers then offer units to their investors at the same low rates. Sell on within a year “I bought 15 units in the Posh for a very good price,” said Akira. “Within two days I had these sold to Japanese investors. We don’t seek to make a profit at this stage but we do aim to sell-on these units and make a gain within a year. Only then do we charge a commission. Essentially, we make money when our investors start to make money.” The Owners Direct team are keen to make it clear that they do not only want to deal with their own countrymen. “We are happy to work with other foreigners and, of course, the Thais themselves,” said Sho. So what’s the special appeal of Thailand? “If people leave money in the bank in Japan you get 0-1 per cent interest on it. Here, with property, you can easily get a seven or eight per cent return compared to maybe four or five per cent in Japan,” said Akira. “In Japan when you buy a new condo for the equivalent of Bt8m it depreciates by 30 per cent the moment they buy it. That doesn’t happen here. The yen currency is strong now so it buys a lot here.” Akira went to university in Thailand and added with a smile that he had married a local lady – just a week before we spoke – which all helped influence where he wanted to set up in business.

interest in Pattaya market

The team behind Owners Direct. From left: Jotaro (Jo) Nemura, a key investor; Akira Oishi, OD’s managing director; Sho Kodama, the company’s international sales director; and Brian Presson, their American adviser. He has been a regular visitor to this country for the past six years. “From my experience in buying and selling here I felt I wanted to do my own development and add some real Japanese quality to the materials and the design,” said Akira. “We have employed a top Japanese architect – Naoya Kawabe – to come up with the design and he will work closely with a local Thai architect to produce the right result.” Such is the confidence

investors have in the Owners Direct team that already 30 per cent of the 160 units in The Cascades have been sold. “We haven’t shown them anything yet – not as single drawing or design – and 60 units have already been snapped up,” said Akira. Small tours Owners Direct organise small tours of up to 15 people to help Japanese investors to get to know the market here. “Then they don’t

need to keep coming back when we suggest a project to them,” said Akira. “After the tour they know the best parts of the city.” The Cascades is due to launch in October or November and will be eight storeys, some 200 metres from the beach. It gets its name from the water feature in which a cascade of water which will run from the rooftop swimming pool down the centre of the building into the all-glass lobby below. If, as is looking very likely,

it proves a success, the team are already considering following up with a high-rise. “We are also thinking about offering a guaranteed minimum rental return at The Cascades,” said Sho. “But we don’t want to put a figure to it just yet.” Unit sizes will range from 30-60sqm in The Cascades and the expected start price is likely to be around Bt60,000 per sqm. Sea views will be available from the third floor and up. Ω 09/2012•Issue 136•REm•51

regularcolumnist

American journalist and property investor Bart Walters has been living in Thailand for 11 years, first in Bangkok, then in Phuket and now in Pattaya. Bart publishes his inside views on Pattaya and its property market in various print and online publications including International Living and Escape America. He can be contacted at bkkbart@gmail.com

What to do, what to do ...

ast month I got an email from a reader who gave me the idea for this article. This reader has visited Thailand repeatedly, and is considering a permanent move. My hat is off to this guy because he is actually thinking ahead to what his life would be like rather than just selling everything and getting on an airplane like I did … like many of us do. He asked me about the prospect of finding work to earn a little walking around money and to occupy his time while not in the throes of all the distractions this lovely country has to offer. So, this month I’ll try to give him –and you –a semi-comprehensive answer to this question. When I came to Thailand more than a decade ago, my plan was to buy some condos, rent them out and spend my time and money doing what most guys entering middle age do … play, play, and play some more. I wouldn’t call it retirement, or even semi-retirement for that matter. But I soon learned a couple of very important lessons about living in Thailand. Check the bank account Being a landlord isn’t all that hard. About the 4th of every month you check the bank account to see if everyone has paid. Unless an air conditioner is on the blink or a hot water heater malfunctioning, your time is then pretty much your own. Going to the gym in the morning and partying all night will make a person prematurely old, not invincible like I thought. And, it soon became apparent to me that when you aren’t

54•REm•Issue 136•09/2012

‘‘ Having

something

to do, even if

you don’t need the income, is essential to living a

’’ balanced life here.

By bart walters spending time making money … you are usually just spending money. Most people who come here have worked most of their lives. When they don’t have work to fill up their time, chances are they’ll get bored or engage in activities that are neither prosperous nor healthy. Just like many retirees worldwide find out, you can only play golf and fish so much before you are bored. Having something to do, even if you don’t need the income, is essential to living a balanced life here. Other people come here and genuinely need to work just to make a living. Unless you have a particular skill that is in short supply in Thailand, it may be difficult. Most people either search out employment with an existing company, and many simply manufacture themselves a job. The first issue someone in search of employment here needs to get a

firm grip on is the idea of a work permit. It is important to know that if you get caught working without a permit in Thailand you could be fined, deported and not allowed entry again. Further, your employer is in even more trouble than you are. I am by no means an expert when it comes to Thai labour laws. And, many who purport to be experts are similarly unqualified. I recommend finding a reputable legal services firm and getting brought up to speed on the requirements. Sporadic enforcement Thai labour law can be mercurial and prone to sporadic enforcement. Local officials can use their own interpretation or be on the take. Beware of agencies guaranteeing their ability to obtain work permits. Many times these can be under the table arrangements that can evaporate when inside connections get reassigned and replaced by some new guy full of conviction about enforcement of what he considers the law to be. Thailand is prone to crackdowns. Better to learn the law yourself and get it done the right way. The basic requirements for a work permit are based on the capitalisation of the company requesting the permit, the number of Thai employees that company legitimately has and the job description the permit is being requested for. There is a mountain of paperwork and if you don’t have it assembled properly, it will get kicked back.

Perhaps the most common misconception about obtaining a work permit has to do with the job description. Just because you form a company to own your house or condo, dummy up four employees and apply to be the “marketing director” does not mean you’ll get a work permit. Particularly in Pattaya, the labour department has shifted authority around and it is increasingly difficult to fool anyone. If you do not have a legitimate history of performing in the field you are applying for, you will be denied no matter how perfectly you’ve prepared the documents. What’s more, it is important to understand that a major objective of the labour department is to protect Thai jobs. A good rule of thumb to use is, “if a Thai could do the job, you can’t”. But take heart, that leaves a whole lot more opportunity than you think. Take me for example. Written communication In a past life I performed as the marketing and promotions director for several different firms, specialising in written communication in the English language. I had also been a principal shareholder and operations manager for three different real estate projects. When I applied for a work permit for my current position as marketing director at a property development in Pattaya, there was no real issue. My English communications skills and history of real estate projects is a rare enough mix among the Thai populace to grant me permission. There are some exceptions for certain businesses like import/export,

‘‘ You’d fill out

the application, they’d check

your pulse and ‘voila’ ... you’re an honestto-goodness language professor with a work permit and a classroom full

’’ of students.

Not any more.

tourist oriented endeavours, nonprofit organisations and a handful of others approved by the BOI (Board of Investment); but generally you’ll have to apply for a permit for a specific job in a specific location and be qualified to perform that job. There are ways around it, but most of them aren’t legal. If you have a skill that is sought after by one of the many multinational corporations located in and around the Bangkok/Pattaya corridor, then opportunities abound. A few years ago, one of my longtime friends from the US fell in love with Thailand on a holiday trip. He is a heating and air conditioning engineer working mostly in manufacturing facilities. He also went through the process of getting certified to teach English as a second language and even did that job part-time to Spanish speakers in Texas. This combination made him quite desirable to several manufacturing companies on the Eastern Seaboard. After receiving offers from three of them, he finally settled on one and is now enjoying his third year living in Rayong, operating training programmes for a manufacturing company. The message here is clear. If you have the right skills, it is entirely possible to find a legitimate job with a reputable company right here on the Chonburi coast. If you think this may apply to you, go on-line to one of the employment websites and check it out. You may be surprised. But, I’d wager a fair sum of money that this model doesn’t fit most of the people reading this article. The vast majority of the folks I meet here are

either retired or come here to shed that old skin and become something else. After years of observation, it appears to me that the top three occupations favoured by foreigners trying to make their way in Thailand are English teacher, real estate agent and bar/restaurant owner. All three are honorable institutions. All three can be rewarding. None of them are as easy as it sounds. Altruistic and heroic Becoming a language teacher (English isn’t the only language being taught here, you know), sounds like a dream job. Using the skills you naturally possess … imparting your wisdom on the language-ignorant indigenous public … making a paycheck while doing the world some good. It all sounds so altruistic and heroic. Oh, if it were only so simple. There was a time when it was easy to become an English teacher. You’d fill out the application, they’d check your pulse and “voila” … you’re an honestto-goodness language professor with a work permit and classroom full of students. Not any more. Competition from people who really took a TEFL (Teaching English as a Foreign Language) course or who are actually certified teachers in their own country has skyrocketed. Plummeting economies worldwide have driven already low-wage earning teachers beyond their borders to ply their trade in friendlier climates. Additionally, competition from ASEAN countries has increased and will continue with the onset of the ASEAN Economic Community (AEC) 09/2012•Issue 136•REm•55

regularcolumnist initiatives in 2015. Teachers from the Philippines have already arrived and are a thriving community in Bangkok and Pattaya. What’s more, they’ll work more hours for less money than traditional expats. Teaching English in Thailand has always been a young person’s game. The most one can expect to be paid from a private teaching institution is about Bt35,000 per month. Younger teachers can certainly stretch that paltry income further than an older person who is used to making more and has a higher cost of living. If you are looking at this kind of teaching position to actually support yourself, I’d say look somewhere else. If you, however, just want some walking around money, I’d be willing to bet that the better schools are going to be more interested in a motivated Filipino who really needs the job and will work for less money. The idea that any old farang can go stand in front of a blackboard and get paid for it is a thing of the past. Lack of proficiency If, however, you have a higher education degree, have earned a teaching certificate and are willing to work in Thai public schools, international schools, or universities the picture is much brighter. This is true particularly in universities. Thailand is in a mad dash to upgrade its education system at this level. Recent surveys and studies indicate a dreadful lack of proficiency among Thai professors teaching English. And once again, the border-blurring ASEAN Economic Community (AEC) initiatives launch in 2015 hangs like a cloud of impending doom. Thailand simply must educate its young people to compete in their own country. If you’re a real teacher, with proper credentials, you could be an essential part of Thailand’s future. Running a close second in the farang vocation-of-choice race is real estate agent … or as I affectionately refer to them … Property Monkeys. Please forgive me if I step on any tender toes in this part of the article; I don’t mean to pull anybody’s pants down. Where I come from, it’s hard to get a licence to be a real estate agent. First of all, you have to actually have a license issued by the state. And, 56•REm•Issue 136•09/2012

‘‘ Unfortunately, nothing is

legally binding or official,

Standards

are helplessly unenforceable. It’s the wild, Wild West.

you have to pass a very difficult threehour exam that covers everything from business ethics to mortgage rate calculation. Most agents don’t pass it on the first try. The average agent attends a sixnine week preparation course and, if they persevere, pass it on the third try. The course is expensive, the test is expensive and the test is hard. That’s just to become licensed. Opening your own agency involves navigating a labyrinth of bureaucracy. Getting hired by an existing agency is fiercely competitive. Practicing the business of property consultancy is not a default occupation and is no joke. Thailand’s version of the real estate profession is the opposite side of the coin. In fact, I’d say finding employment as a property agent is infinitely easier than becoming an English teacher. Any moderately educated individual with the gift of gab can enter the arena. There is no governing body. There are no enforceable standards. Some commerce organisations like the Real Estate Brokers Association (REBA) have banded together and attempted to regulate the industry with training programmes and standards of conduct. Unfortunately, nothing is legally binding or official. Standards are helplessly unenforceable. It’s the wild, Wild West. Over the past decade I’ve met

property monkeys of just about every description. There are those that were actually licensed real estate agents in their home countries that have successfully transferred their knowledge, ethics and business acumen here. There are also those that just knocked around the property business long enough to know the basic laws, convince some unsuspecting buyers and sellers of their value as a go-between and started collecting commissions. I’ve met agents from both ends of the spectrum that were honest and ethical business people. I’ve also met agents from both ends that were outright four-flushing crooks. And, sometimes it’s hard to tell them apart. Red hot market Still, for a person seeking employment in Thailand who has a modicum of business smarts, this is a viable choice … especially in the red hot Pattaya property market. So, I have suggestions for foreigners who are considering this route to employment. First of all, make sure you love it. This business is extremely competitive. The most successful agents eat, sleep and breathe property. When you talk to them, all conversations ultimately turn towards discussions of cost per square metre, desirable locations and maintenance fees.

If ever a business was ruled by the axiom “information is power”, it’s property in Thailand. Keep in mind, there is no Multiple Listing Service (MLS). There is virtually no transparency in the market. If you want to know how much a neighbouring house sold for, you’ll have to dig that information out yourself. Product knowledge is king. And, if you are lazy or possess no networking skills … you will not succeed as a property agent in Thailand. Reputable agency Second, start by working with a recognised and reputable agency. Because the market is so easy to enter, established agencies spend a lot of money and energy building their brand. Learning the ropes from a company that has a track record and legitimacy will add to your own aura of competence. Not to mention the fact they will most likely have a large inventory of listings and a steady flow of prospects for you to play matchmaker with. Property monkeys tend to play “musical desks” a lot, hopping from one company to the next. But you will always be associated with one agency or another. Work for a good company and that’s how you’ll be remembered. Work for a shady operator and it will hang around your neck like a boat anchor. Finally, pick a niche. Real estate agents who try to be all things to all

‘‘ For those

genuinely

searching for a way to spend time or make a living in Thailand, I say ‘think outside the box’.

people ultimately serve none of those markets well. It is better to know everything about the condo market in Jomtien Beach than it is to know a little about every property on the Chonburi coast. Markets can be segmented by location, type of property, price limitations and a host of other criteria. Customers can be segmented by language, age, economic stature, etc. Figure out what kind of properties you are best at selling and whom you are most effective selling them to and go with it. In the property business, it is better to be a big fish in a small pond. Rounding out the top three most favoured occupations of farangs has to be bar/restaurant owner. Many are the foreigners who wash up on the beaches of Thailand with dreams of having their own bar or little restaurant. I would apply the same warning as I did above with property agents … you better love it; but this is pretty universal when it comes to this business. The competition is nasty, the hours can be long and any endeavour that includes hiring a lot of Thai staff can be a nightmare. Rule of thumb What is most important to know about this business is that you won’t actually be able to “work” there. Remember our rule of thumb; if a Thai can do the job, you can’t. Food service and hospitality is

the eminent domain of Thais. There simply is no job in a bar or restaurant a Thai person could not perform at an acceptable level. You cannot manage your own bar. You cannot be the bartender. I’m sure many foreigners reading this are thinking, “wait a minute … I go to Joe’s Beer Bar and I see Joe there every night”. While it is true Joe hangs out and commiserates with customers, he does not work there … he does not manage the bar … he does not pour drinks … he simply slaps backs, and has a good time. His wife runs the bar. I have seen instances where foreigners are allowed to perform certain jobs in restaurants and bars, but they are usually attached to hotels or guesthouses, and that’s a different story. It should be noted that the only foreigners I personally know who have been arrested and tossed out of the country for work permit violations are bar owners caught working in their own bar. (Perhaps this says more about how I spend my spare time than it does work permits … I’m not sure). The road less travelled For those who are genuinely searching for a way to spend time or make a living in Thailand, I say “think outside the box”. Take the road less travelled. Maybe you have a skill you could teach to Thai people. I have a friend who is a retired policeman that trains Thai cops in crowd control. I’ve met a retired firefighter from England who owns a company that develops safety and training programs for big manufacturing facilities. And, you don’t have to work in Thailand to live here. I know dozens of oil and gas workers that are proof of that. I’ve got an old friend who travels to Japan to translate documents and comes home to live in Pattaya. I even know a couple of Americans that are actors in action movies in Malaysia that call Thailand home. Don’t limit yourself to the traditional top three occupations. Instead of asking yourself, “what to do … what to do”, it may be more productive to ask “What can I do that nobody else is doing?” Find your unique niche and fill it. It’ll keep you healthier and wealthier here in the land of smiles. Bart Walters 09/2012•Issue 136•REm•57

8.3 million baht 2 storey house with 3 bedrooms, maid’s room and 5 bathrooms situated in SP Village 5 on Soi Siam Country Club. The house has a 30 sqm living area on a 524sqm plot of land with an outdoor patio looking over 6.5m x 7m in ground private pool and private gardens. There are 5 air conditioners throughout the house and all bedrooms have built-in furniture. The house is 3 years old and has had the outside painted in November 2011.The club has gym/sauna/spa/swimming pool and jogging track around a lake feature.

email : stevesandroussi@hotmail.com

58•REm•Issue 136•09/2012

K. Yai 080-824-4278 Mr. Steve 085-228-2169

broker & developer directory

A bathroom with a view. An architectâ&#x20AC;&#x2122;s rendering of the views that will be enjoyed from the Waterfront Suites & Residences.

Your at-a-glance guide to some of the major players in the Pattaya property market. We do not claim this is a comprehensive list of all the brokers and developers who can provide a service but we hope readers will find it helpful.

This section is kindly sponsored by Waterfront Suites & Residences

a g e n ts AAAA Properties Jomtien Plaza Condotel 406/37 M12 Jomtien Beach Road T: +66 (0)38 756 370 F: +66 (0)38 757 015 M: +66 (0)86 144 1312 E: info@aaaaproperties.com W: aaaaproperties.com Principal: Louis J Van den Bergh ACI Enterprise Co Ltd (incorporating ACI Ocean Properties) 672/20 M5 Soi 18, Naklua Road next to Northpoint, Wong-Amat T: +66 (0)38 41 6060 F: +66 (0)38 41 6061 M: +66 (0)81 762 2627 E: info@aci-enterprise.com W: aci-enterprise.com and pattayaoceanproperties.com Principal: Markus Probst Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR

Property Consultants

All Siam Properties M: +66 (0)87 068 5159 E: info@allsiamproperties.com W: allsiamproperties.com Membership: TREA Anaakot Group Property Consultants 138/1 Moo 12, Soi Chayapruk, Jomtien T: +66 (0)38 231544 M: +66 (0)8780 33329 E: info@anaakot-group.com W: Anaakot-Group.com Principal: Jason Young

The following are among the trade organisation memberships or qualifications held by some of the agents. Note that, in some instances, the qualification is with the individual employee – not the company overall. AIPP: Acronym stands for The Association of International Property Professionals which is a not-for-profit organisation whose aim is to improve the standards of professionalism in the international property market, helping both the industry and the public. Members have voluntarily signed up to follow the AIPP Code of Conduct.

Arise Asia 477/25 View Talay 5C, Thappraya Road T: +66 (0)38 075 610 M: +66 (0)85 228 8911 or (0)89 107 9807 E: info@ariseasia.com W: ariseasia.com Principal: Thanyamai Totharong (Thanya) Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR Benchmark Asia Property Co Ltd 315/309 M12, Thepprasit Road T: +66 (0)38 304 133 M: +66 (0)81 792 9486 E: info@benchmarkthailand.com W: benchmarkthailand.com Principal: Gareth De Silva Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR

CIPS: Certified International Property Specialist – this is a members-only group which is for international practitioners of the National Association of REALTORS®. CRS: Certified Residential Specialist (CRS) is the top professional designation awarded to REALTORS® in residential sales. Held by fewer than five per cent of all REALTORS®. NAR: National Association of Realtors is North America’s largest trade association representing more than 1.2 million members. Members can call themselves REALTORS®. NAR also functions as a self-regulatory organisation for real estate brokerage. REBA (Thailand): This is the nationwide Real Estate Broker Association with affiliation to the international Council of Residential Specialists. REBA-ES: The Real Estate Broker Association for the Eastern Seaboard.

RETS (Thailand): Real Estate Training School (Thailand) – brokers seeking membership of REBA must have staff attend and pass their test. More overleaf

Big Mango Properties Main office: South Pattaya – Soi Big Mango off Third Road T: +66 (0)38 713 118 Second office: North Pattaya – Wong-Amat Residence, 505/1 Moo 5, Soi 16 Naklua Road T: +66 (0)38 725 001 Third office: BNT Building 155/4-6 Asoke Road, Bangkok T: +66 (0)2 258 8421 F: +66 (0)2 258 8420 M: +66 (0)89 685 2198 E: michael@bigmangoproperties.com W: bigmangoproperties.com Principal: Michael Barricelli Bizhouse Co Ltd 324/22 Moo 9 Central Pattaya Road near junction with Third Road T: +66 (0)38 416 322 M: +66 (0)89 0924593 E: info@bizhouseproperty.com W: bizhouseproperty.com Principal: Richard Arthur buythaiproperties.com 308/69 M10 Thappraya Road T: +66 (0)38 251 644 F: +66 (0)38 251 645 M: +66 (0)8 456 210 40 E: info@buythaiproperties.com W: buythaiproperties.com

AGENTS DIRECTORY • Sponsored by Waterfront Suites & Residences • 09-10/2012 • Issues 136 and 137

Alan Bolton Property Consultants Unit C102, 399/9 M10 The Avenue Shopping Mall Second Road near Villa Market T: +66 (0)38 416 728-9 F: +66 (0)38 416 730 M: +66 (0)81 996 2489 E: info@pattaya-property.net W: pattaya-property.net Principal: Alan Bolton Memberships: REBA (Thailand), REBA-ES, RETS (Thailand), TREBS

glossaRY

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a g e n ts

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glossaRY

Coastal Real Estate Office 1: 216/62 M10, Soi 13 (Soi Diana next to Mega-Break) Office 2: 426/1 M12, Jomtien Beach T: +66 (0)38 421 580 M: +66 (0)81 269 0742 E: info@pattayarealestateservices.com W: pattayarealestateservices.com Principal: Kevin Mattson

AGENTS DIRECTORY • Sponsored by Waterfront Suites & Residences • 09-10/2012 • Issues 136 and 137

Colliers International Thailand 519/4-5 Second Road, opposite Central Festival, Pattaya Beach T: +66 (0)38 427 771 F: +66 (0)38 427 772 M: +66 (0)85 2828 120 E: info.pattaya@colliers.com or mark.bowling@colliers.com W: colliers.co.th Principal: Mark Bowling Memberships: RICS Delight Real Estate Co Ltd 308/58-59 M12 Thappraya Road T: +66 (0)38 251 415 F: +66 (0)38 251 416 M: +66 (0)89 542 3041 (Eng/Ger/Dutch) or +66 (0)89 253 8842 (Thai) E: info@delight-realestate.com W: delight-realestate.com Principal: Anne-Marie Adriaans East Coast Real Estate Co Ltd Office 1: 414/19 M12 Jomtien Complex T: +66 (0)38 267 030-1 F: +66 (0)38 267 029 M: +66 (0)81 862 8034 Office 2: 485/4 M10 Second Road T: +66 (0)38 723 615-6 F: +66 (0)38 426 193 E: info@thaiproperty.com W: thaiproperty.com or thaiproperty.net Principal: David Gray Advertisement: Page 41

RICS: Royal Institution of Chartered Surveyors – an independent body which regulates the conduct of property professionals and surveyors in the UK and other sovereign nations. RICS provides education and training standards, protects consumers with strict codes of practice and advises governments and business. TREA: The Thai Real Estate Association aims to be the hub of the real estate profession here by encouraging entrepreneurs to operate to standards of quality and ethics; to create the maximum benefits for developers, government and consumers altogether. TREBS: The Thailand Real Estate Broker School provides training for real estate professionals. The course includes real estaterelated laws, broker law, broker ethics, listing and sales techniques, reconciliation techniques, property evaluation, property transfer procedure and tax calculation.

Farang Property Services 223/32 M9, Third Road T: +66 (0)38 052 495 F: +66 (0)38 052 496 M: +66 (0)89 938 7433 E: info@farang-services.com W: farang-services.com Principal: Manfred Ehrenheim Advertisements: Pages 4 and 5 Five Star Villas & Condos Main office: Pratumnak – Tara Court 388/109 M12, Pratumnak Road Second office: Jomtien – B30, The Village Shopping Centre M: +66 (0)81 938 8391 Robert or (0)809 16667 Mesiya E: sales@fivestarvillasandcondos.com W: fivestarvillasandcondos.com Principals: Robert and Mesiya (May) Watson Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR, TREBS

Global Property Global Solidor Enterprise Co Ltd North Pattaya – 157/142 Moo 5, Naklua Road T: +66 (0)38 427 364 M: +66 (0)82 469 5551 or +66 (0)81 838 1390 E: info@global-solidor.com W: global-solidor.com Principal: Rainer Heinzmann

Golden Homes Real Estate Co Ltd 33/39 M9 Soi Diana Inn T: +66 (0)38 720 892-3 M: +66 (0)86 826 8821 E: info@goldenhomespattaya.com or Ploy1@csloxinfo.com W: goldenhomespattaya.com Principal: Yupaporn Sangpagdee (Ploy) Jomtien Property 315/185-6 Thappraya Road near entrance to View Talay 2 T: +66 (0)38 303 243 M: +66 (0)86 108 6575 E: info@properties-in-thailand.com W: properties-in-thailand.com Principal: Stu Sutton North Shore Property Co Ltd 315/414 M12 Thappraya Road T: +66 (0)38 303 825-6 M: +66 (0)87 833 5066 or (0)86 323 4607 E: info@ns-property.com W: ns-property.com Principal: Mesa Wongsida NT Realty Asia 215/15-18 Second Road T: +66 (0)38 426 242 or (0)38 425 836 F: +66 (0)38 426 243 E: info@nt-realty.com W: realestatethailand.com Philippines office: 11 Malabanias Road Angeles City, Pampagna 2009 T: +63 (0) 45 892 5719 Principals: John Seymour, Tim Bunker, Peter Randall (directors) and Paul Sutton (regional manager) Memberships: REBA (Thailand), REBA-ES, RETS (Thailand), NAR

a g e n ts One Stop Real Estate 219/14 M9, Soi Yamato T: +66 (0)38 710 699 or (0)38 710 725 M: +66 (0)819 454 845 E: onestop@realesthai.com W: real-estate-thailand.com Principal: Mark Welch Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR Paradise City Property 116/27 M9, Pattaya Klang opposite Big C Extra (formerly Carrefour) T: +66 (0)38 373 966 M: +66 (0)81 761 3238 E: pattaya@paradisecityproperty.com W: paradisecityproperty.com Principal: Gavin Perfect

Est. 2001

PATTAYA REALTY Follow us:

http://on.fb.me/pattayarealty

@pattayarealty

Pattaya Realty 219/1 Tipp Plaza, Second Road T: +66 (0)38 412 301-2 6,968,000 M: +66 (0)89 833 6175(CS5049) orSale(0)89 832 7226 Sale 11,900,000 (HS5005) Central Pattaya - Foreign Name: E: info@pattayarealty.com W: pattayarealty.com (HR1449) (CR3816) Principal: Stuart Daly Memberships: CIPS, REBA (Thailand), VJ Vil age REBA-ES, RETS (Thailand), NAR int size 190 m sq, ext size 540 m sq, 3 beds, 3 baths, fully fitted kitchen, high quality furnishings, Internet, close to local amenities, security alarm, covered car park, 24hr Security.

Brand new condominium in Pattaya int size 104 m sq, 3 beds, 3 baths, fully furnished, fully fitted kitchen, communal gardens, communal swimming pool, car park, 24hr Security.

(HS4959)

Rent 25,000 / month

Sale 6,990,000

Rent 20,000 / month

South Pattaya: int size 55 m sq, 1 bed, fully furnished, fully fitted kitchen, TV, DVD, Hi-Fi, close to local amenities

: int size 225 m sq, ext size 328 m sq, 3 beds, 2 baths, fully furnished, fully fitted kitchen,private gardens, private swimming pool, covered car park, 24hr Security.

East Pattaya :Ext size 420 m sq, 4 beds+ maid's room, 3 baths, fully furnished and kitchen, security alarm, private gardens communal swimming pool, covered car park, 24hr Security.

Rush! Premier Homes RealBeat TheEstate Co Ltd 240/21 Jomtien Beach Road T: +66 (0)38 231 931 M: +66 (0)81 634 2915 E: premier@loxinfo.co.th W: premierinternational.com (HS0247) Principals: Clayton and Supap: Wade Memberships: CIPS, RETS (Thailand), NAR (HR1041)

(CR4944)

Situated on top of Pratumnak hill, Spectacular sea and city view For special pre-launch prices in the highest building in Pattaya!

Baan Balina I

Rent 35,000 / month

Rent 16,000 / month

Na jomtien:Bali Style,Int size 300 m sq, ext size 560 m sq, 3 beds, 3 baths, high quality furnishings and fully fitted Euro style kitchen, maid's room, Private gardens, private swimming pool, covered car park, 24hr Security.

Pratumnak:int size 48 m sq, Studio apartment, fully furnished, fully fitted kitchen, beautiful sea views, communal gardens, communal swimming pool, car park, 24hr Security.

Pattaya Jomtien Property 75/49 Soi 5 Immigration, Beach Road, Jomtien (75m from Immigration Office) T: +66 (0)38 756 755 M: +66 (0)85 129 5657 (Thai); or +66 (0)85 667 3687 (English) E: sales@pattaya-jomtien-property.com W: pattaya-jomtien-property.com Principals: Kevin and Chanram Hurst Memberships: AIPP (International) Pattaya Prestige Properties 2/28 Ground Floor, View Talay 7 F: +66 (0)38 059 632 M: +66 (0)870 217 014 E: info@pattayaprestigeproperties.com W: pattayaprestigeproperties.com Principal: Jan Nuyten

Talay Real Estate Co Ltd 240/18 M5, Naklua not far from Dolphin Roundabout on Second Road T: +66 (0)38 362 352 F: +66 (0)38 362 351 M: +66 (0)87 608 1116 or (0)8 0091 5353 E: info@talayrealestate.com W: talayrealestate.com Principals: Namthip Khanjanavisittaphol (Sandy) and Ted T Okuno

GRE

Rent 44,000 / month

Sale 29,000,000 Jomtien: Fully renovated to a very high standard with 4 beds, 4 baths, fully furnished,

fully fitted kitchen, Jacuzzi, large private gardens, private swimming pool, security alarm, covered car park, 24hr Security.

Opposite Bangkok Pattaya Hospital East Pattaya:4 beds, 3 baths, fully furnished and kitchen, washing machine, Private gardens, private swimming pool, covered car park, 24hr Security.

Sale 12,950,000

The Regents Superior detached, two storey house, int size 650 m sq, ext 1400 m sq,

4 bedrooms + en suite, 5 bathrooms, fully fitted kitchen + food storage room, Jacuzzi, private landscaped gardens, large private swimming pool, separate self-contained 1 bedroom + en suite guest house with AC, security alarm, covered car park ,electric gate.

Our office address: 219/1 Tipp Plaza, Pattaya 2nd Road. Next to Mike Shopping Center, Nongprue Chonburi 20150

www.pattayarealty.com

Email: info@pattayarealty.com

Rightmove Pattaya 369/1 M9, Units 8&9 PS Bowl, 2nd Road T: +66 (0)38 361 212 M: +66 (0)89 253 5607 E: info@rightmovepattaya.com W: rightmovepattaya.com Principal: Craig Turner Memberships: REBA (Thailand), REBA-ES, RETS (Thailand) Tel:66(0)38 412 301/2 or 089 833 6175 089 8327226

Sallmanns (Eastern Seaboard) Ltd Near Hanaman Statue, Jomtien T: +66 (0)38 252 588 M: +66 (0)87137 0392 E: pattaya@sallmannsthailand.com W: sallmannsthailand.com Principal: Tim Gladwin Seaboard Properties Co Ltd 316/23 Thappraya Road near Food Mart, Jomtien T: +66 (0)38 252 456 F: +66 (0)38 252 457 M: +66 (0)86 129 8281 E: info@seaboard-properties.com W: seaboard-properties.com Principal: Eddie Buehler Siam Properties Main office: 313/27 M10 Pattaya Tai T: +66 (0)38 415 490 F: +66 (0)38 414 693 M: +66 (0)81 861 1907 (Heiner) or (0)81 821 7045 (Porn) Russian: +66 (0)89 245 2890 (Vera) E: info@siamproperties.net or rus@siamproperties.net W: siamproperties.net

Thailand-Property-Gate Head office: 82/9 Langsuan Road, Lumpini, Pathumwan, Bangkok 10330 Eastern Seaboard office: 449/84, M12, Thepprasit Road W: Thailand-Property-Gate.com E: Stefan@thailand-property-gate.com M: +66 (0)81 835 99 23 Thailiving 306/90-91 M12 Thappraya Road T: +66 (0)38 364 514 M: +66 (0)81 862 7405 E: info@thailiving.net W: thailiving.net Principal: Supaporn Persson (Sara)

Town & Country Property 63/10-11 Pattaya Tai T: +66 (0)38 374 136 F: +66 (0)38 374 137 Russian: +66 (0)84 873 7425 E: info@towncountryproperty.com W: towncountryproperty.com Principal: Cees Cuijpers Memberships: CRS, REBA-ES, NAR Advertisements: Pages 8 and 9

AGENTS DIRECTORY • Sponsored by Waterfront Suites & Residences • 09-10/2012 • Issues 136 and 137

Pattaya Estate Agents (PEA) Car Park, Tesco-Lotus, South Pattaya M: +66 (0)819 458 650 (Thai) or (0)86 080 3098 (Eng) E: info@pattaya-estate-agents.com W: pattaya-estate-agents.com Principal: Sununtha Bun-um (Boom)

Second office: 334/14 Soi Welcome, Jomtien Hotel off Jomtien Beach Road T: +66 (0)38 059 637 Principals: Heiner and Porn Moessing Memberships: CRS, REBA (Thailand), REBA-ES, RETS (Thailand), NAR

(HR1306)

(HS4948)

COM L IN

ENTA

AT R

Pattaya Bay Real Estate 405/23 Soi Bongkot T: + 66 (0) 38 374 623 F: + 66 (0) 38 374 623 M: + 66 (0) 811 580 065 ( English) + 66 (0) 807 247 476 ( Thai) E: info@pattayabayrealestate.com W: pattayabayrealestate.com Principal: Mal Patterson

d i re c t o r y

REAL ESTATE BROKER ASSOCIATION â&#x20AC;&#x201C; EASTERN SEABOARD

ticks all Members of REBA-ES are respected

Member companies in REBA-ES are part of an established and respected real estate organisation which has the support of the Thai Government

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Clients of REBA-ES members can be confident that they are dealing with honest, reputable and properly trained real estate professionals

ETHICAL

The high standards we set conform to internationallyapproved rules, regulations, strict codes of ethics and dispute resolution policies

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Our members network closely, giving all of them access to the Eastern Seaboardâ&#x20AC;&#x2122;s largest real estate association

For comprehensive property listings and professional real estate consulting contact our members at www.rebaes.com

www.rebaes.com

REAL ESTATE BROKER ASSOCIATION – EASTERN SEABOARD

the boxes ... Sponsoring REBA-ES members John Seymour +66 (0)38 426 242 info@nt-realty.com www.realestatethailand.com

Mark Welch +66 (0)81 945 4845 onestop@realesthai.com www.real-estate-thailand.com

Stuart Daly +66 (0)38 412 301-2 info@pattayarealty.com www.pattayarealty.com

Markus Probst +66 (0)81 762 2627 info@aci-enterprise.com www.pattayaoceanproperties.com

Heiner Moessing +66 (0)89 499 1000 info@siamproperties.net www.siamproperties.net

Rob Watson +66 (0)81 938 8391 sales@fivestarvillasandcondos.com www.fivestarvillasandcondos.com

Gareth De Silva +66 (0)81 792 9486 info@benchmarkthailand.com www.benchmarkthailand.com

Rainer Heinzmann +66 (0)81 838 1390 info@global-solidor.com www.global-solidor.com

Craig Turner +66 (0)89 253 5607 info@rightmovepattaya.com www.rightmovepattaya.com

... if your answer is ‘yes’ to all, check out the REBA-ES brokers in this

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D E V E LO P E R S d i re c t o r y

Heights Holdings Co Ltd Thappraya Road next to Bruno’s Italian Restaurant Projects: Park Royal I, II & III, Pattaya Heights, Club Royal, Laguna Bay I , II and III (The Maldives), Laguna Beach Resort Jomtien I & II, Laguna Heights, The Peak Towers, Wong Amat Tower, Water Park Condominium and C-View M: +66 (0)85 282 6454 E: oliver@heights-holdings.com W: heights-holdings.com Principal contact: Oliver Nabarro Katalina Co Ltd 396/66 M12, Pratumnak Projects: Katalina I, II and III T & F: +66 (0)38 306 616 M: +66 (0)80 570 44 33 (English and Russian); +66 (0)81 983 00 68 (English, Dutch and French) E: rogge_tony@hotmail.com or albertdewilde@hotmail.com W: katalinaresidence.com Major Development PCL 141 Soi Thonglor 10, Sukhumvit 55, Klongton Nua, Wattana, Bangkok 10110 Local project: Reflection Jomtien Beach Sales office: Jomtien Beach Road, adjacent to Suttangrak Restaurant T: +66 (0)38 233 111 F: +66 (0)38 233 730 M: +66 (0)89 247 7158 E: sales@reflectionpattaya.com W: majordevelopment.co.th Principal contact: Chiddao Promma (Bay) Walk

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Domum Holding Co Ltd 391/109 Thappraya Road. Corner of Soi 13, next to Mata Hari Restaurant Project: Meridiem Condominium and Meridiem Park Condominium T: +66 (0) 38 251 464 M: +66 (0) 8888 10311 F: +66 (0) 38 251 733 E: info@domum-holding.com W: domum-holding.com

Modus Group 292/1-2 Moo 5 Soi 12, Pattaya-Naklua, Naklua, Banglamung, Chonburi 20150 Project: Modus Beachfront Condo T: +66 (0)38 225 999 or (0)38 252 635 M: +66 (0)89-092 1333 E: info@moduspattaya.com or 888modus@gmail.com W: moduspattaya.com Principal: Pimpinan Namthep

Noi

CW Asset Co Ltd 212/13 North Pattaya Road Project: Bang Saray Beach Condominium T: +66 (0)38 414 405 M: +66 (0)85 272 8338 (English) or +66 (0)85 272 8228 (Thai) E: info@cwasset.com W: cwasset.com or bangsaraybeachcondo.com Principal: Ms Imorn Luekhamharn Membership: TREA

Global Tower Group Co Ltd Banglamung Soi 16 Project: Paradise Ocean View M: +66 (0)8 222 66 077 E: info@paradiseoceanview.com W: paradiseoceanview.com

Chiyapurk

DEVELOPERS DIRECTORY • Sponsored by Waterfront Suites & Residences • 09-10/2012 • Issues 136 and 137

CSP Projects Chaiyapruk 2 over rail track on left opposite Baan Suan Neramit Projects: Coconut Grove, Coco Palms and Palm Grove T: +66 (0)38 076 285-6 E: md@csp-construction.com W: csp-construction.com Principal contact: Tom Coglan

Matrix Developments 352/202-3 M12 Pratumnak Road Current projects: Art-on-the-Hill, Paradise Park, Sunset Boulevard, The View, The Vision, Amazon Residence and City Center Residence T: +66 (0)38 250 120-1 F: +66 (0)38 250 008 M: +66 (0)87 607 8880 E: info@matrix-developments.com W: matrix-developments.com Membership: AIPP

Soi Kha

Bravo Thai Lifestyle Co Ltd Projects: The Vineyard I, II & III near Lake Mabprachan M: +66 (0)89 8677 969 E: terry@siamdevelopments.com W: siamdevelopments.com Principal contact: Terrence Allen Collins

Dusitpattaya Co Ltd Soi Wat Yan off the Sukhumvit near Ban Amphur Project: Baan Dusitpattaya and Dusit Grand Condo View (Jomtien) T: +66 (0)38 343 586 F: +66 (0)38 343 585 M: +66 (0)81 0584 930 (English and Thai) M: +66 (0)868 486 704 (Russian) E: baandusit@gmail.com W: baandusitpattaya.com or domvtae.su Principal contact: Darwan Bunting (Meam)

Soi Khao

Anaakot Group Development 138/1 Moo 12, Soi Chayapruk, Jomtien Project: Sixtythree@12 T: +66 (0)38 231544 M: +66 (0)8780 33329 E: info@anaakot-group.com W: Anaakot-Group.com Contact: Jason Young

New Nordic Occupies a large area of Pratumnak. Go down Soi 4 and look for the orange signs on the right Current projects: New Nordic Suites, New Nordic VIP Condominium I, II and III and IV are planned T: +66 (0)38 250 025 F: +66 (0)38 306 299 M: +66 (0)89 605 4114 E: sales@new-nordic.com W: new-nordic.com Nova Group Nova Park, 80/164 M9, Soi Sukrudee (Soi AR) near Jameson’s Pub Projects: Amari Residences Pattaya, The Cliff, Nova Ocean View, Novana Residence, The Palm and Nam Talay T: +66 (0)38 415 304-8 F: +66 (0)38 415 309 M: +66 (0)85 282 6454 E: info@nova-thailand.com W: nova-thailand.com Principal contacts: Rony Fineman and Keith Storey Petch Property Development Co Ltd Projects: The Cove and Prima Residence Main office: 44 Soi Sukhumvit 59, Klongton Nua, Wattana, Bangkok 10110 T: +66 (0)27 143 872 F: +66 (0)27 143 871

inside back cover

D E V E LO P E R S d i re c t o r y

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Shining Light Co Ltd Project: City Garden Pattaya Soi 15, Second Road close to The Avenue T: +66 (0)38 416 690 F: +66 (0)38 724 249 E: info@citygardenpattaya.com W: citygardenpattaya.com

Tulip Group Co Ltd 88/58 Moo 4, Bowin Sub District, Siracha, Chonburi Projects: Centara Avenue Residence & Suites Pattaya (behind The Avenue), Centara Grand Residence Pattaya (Na-Jomtien) and Waterfront Suites & Residences (Bali Hai) T: +66 (0)38 959 180 F: +66 (0)38 959 508 M: +66 (0)83 718 0005 E: jason@tulipgroup.co.th W: tulipgroup.co.th Principal contacts: Kobi Elbaz and Jason Payne

o Talo

Royal Oak Developments / Royal Jomtien Property Services Co Ltd Projects: Acqua Condominium, The Gallery, SP Townhomes, SP Villages I-V, The Urban, The Urban Suites and Acqua T & F: +66 (0)38 231125-6 M: +66 (0)86 323 1908 E: theurbanproperty@gmail.com W: thegallerycondo.com, theurban pattaya.com, theurban-property.com Principal contact: Thanyarak Meesuk

Tropical Dream Pattaya Co Ltd Showroom Pratumnak Road, Soi 6 Projects: Tropical Dream I and II T: +66 (0)38 252 299 F: +66 (0)38 252 209 M: +66 (0)82 202 0880 E: tropicaldreampattaya@gmail.com W: tropicaldreampattaya Principals: Gery Kis and Sylvie Schäffer

Noi

Ratanakorn Asset Co Ltd 300/6 M10 Pattaya Tai Current Projects: Life Star City Tower, Pattaya Klang Center Point, Ratanakorn Park View, Ratanakorn Villages 12 and 13, R-Con Residence, TW Garden Hill, TW Jomtien Beach Resort, TW Park View, TW Wong-Amat Beach Resort Condominium, Vela Casa. T: +66 (0)38 421 534 or +66 (0)38 421 274 M: +66 (0)81 762 6080 E: marketing-ratanakorn@live.com W: ratanakorn.com

Chiyapurk

DEVELOPERS DIRECTORY • Sponsored by Waterfront Suites & Residences • 09-10/2012 • Issues 136 and 137

Raimon Land PLC 22nd Floor The Millenia Tower, Bangkok Projects: Northpoint, Zire Wong Amat and Unixx South Pattaya T: +66 (0)26 519 601 M: +66 (0)81 3717 888 E: info@raimonland.com W: raimonland.com Principal contact: Piaras Moriarty

Town & Country Property 63/10-11 Pattaya Tai Projects: The Meadows, The Residence and Whispering Palms F: +66 (0)38 374 137 Russian: +66 (0)84 873 7425 E: info@towncountryproperty.com W: towncountryproperty.com Second office: B23 The Village Shopping Centre, junction of Sukhumvit and Soi Chaiyapruk Principal: Cees Cuijpers

Soi Kha

Poompatta Co Ltd 450 M9 Nongprue, Chonburi 20150 Project: Patta Village T&F: +66 (0)38 371 555 E: info@poompattapattaya.com W: poompattapattaya.com

The Siam Oriental Trading Co Ltd 267/4 M12, Pratumnak Projects: Siam Oriental Condominium, Siam Oriental Garden, Siam Oriental Twins T: +66 (0)38 250 873 M: +66 (0)84 872 1272 E: sami.sarajarvi@gmail.com W: siamoriental.com Principal contact: Sami Sarajärvi

Soi Khao

M: +66 (0)89 991 1999 Sales office: 193/1 M5 Naklua Road T: +66 (0)38 428 284 or (0)38 428 595 E: info@ppd.co.th W: ppd.co.th Principal: Itthi Chavalittamrong

Vistas Development Chateau Dale Complex, Jomtien Projects: The Peak Towers (solo), Park Royal II and Water Park Condominium (in co-operation with Heights Holdings) English: +66 (0)87 803 3329 Thai: +66 (0)740 8999 Russian: +66 (0)80 826 6992 E: sales@vistasdevelopment.com W: vistasdevelopment.com Principal contact: Menachim (Meny) Borenstein Tudor Villas Co Ltd Showroom Pratumnak Hill, Soi 2 Projects: Tudor Court Condominium M: +66 (0)81 863 0201 E: tudorvillas@yahoo.com W: tudorcourtthailand.com VKK Real Estate Co Ltd Sukhumvit 87 just before the rail track and the new road Projects: Porchland I, II, III (The Blue Residence), IV (The Time), V (La Santir) and VI (The Feelture) T: +66 (0)38 757 375-7 M: +66 (0)82 444 1147-8 E: theblue@porchland.com W: porchland.com VSPN Property Co Ltd 162 Moo 2, Sukhumvit Road (next to soi Banglamung 16), 500 metres past Kratingline Tri-junction Project: Seabreeze Villa Pattaya M: +66 (0)84 460 5335 E: seabreeze_villa@hotmail.com W: vspnproperty.co.th Principal: Ukarin Kerdkitsadanont Wandeegroup (Thailand) Co Ltd Thappraya Road on the left as you go up the hill towards Jomtien Project: The Touch® T: +66 (0)38 364 321 E: info@wandeegroup.com W: wandeegroup.com Principal contacts: Mario Kleff and Nittaya Wongsin Wise Power Land Co Ltd City Office Tower 1, Rama 3 in Bangkok Project: La Royale, Na-Jomtien T: +66 (0)26 826 255 E: info@wiseassetgroup.com W: wiseassetgroup.com

inside back cover

• Best stock and prices for off-plan developments • Best stock and prices for off-plan developments • Buy direct from the owner and save big on commission • Buy direct from the owner and save big on commission

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SPECIALFEATURE

This article was originally published in the American Chamber of Commerce in

The regeneration

The Centara Grand Mirage with its “no need to leave” factor.

attaya has always been something of an enigma. Thailand’s first beach destination, lauded and loved, but one that fell out of favour as international visitors moved on to the beaches of Koh Samui and Phuket – while locals’ tastes changed too, preferring the creature comforts of Hua Hin. However, the last decade has seen its steady regeneration, and especially since the opening of Suvarnabhumi International Airport, a gradual increase in tourism arrivals and business investment that has quietly turned Chonburi into the most wealthy province outside of Bangkok, and Pattaya into the envy of its rivals with a record eight million hotel guests expected in 2012, according to C9 Hotelworks’ recently released Pattaya Hotel Market Update report. Pattaya has been through

84•REm•Issue 136•09/2012

more makeovers than it may care to remember. But, it has endured a period of evolution ever since its heady days as a former Vietnam War era hangout and is now reaching new heights once again. The replacements From a tourism perspective it has really found a new lease of life over the last few years as European travellers have fallen away due to economic woes while travellers from Asia – particularly China, India and Russia – have more than replaced them. The thirst to travel combined with newly found wealth and disposable income has fueled the change in tourist demographics coming to Thailand in general – but it is in the new travel preferences of this group combined with the rapid growth in low cost carriers that has really driven

the renaissance of Pattaya. Vacations in Asia rarely exceed a week – and most likely not any more than a long weekend or four nights – so speed of access is key. Shopping and eating top the itineraries of most Asian travellers, plus a great value stay that matches their needs of traveling as family. These are the new buzzwords and this is where Pattaya is ideally suited to meet the hoards of Asian families travelling looking for fun and entertainment – as well as and a bit of brand security. Branded hotel offerings According to C9 Hotelworks’ study, which highlights a nine per cent surge in hotel occupancy last year, branded hotel offerings entering the market has further boosted demand with chain-operated properties hitting 74 per cent annualised occupancy for the

year ending December. This equated to an eight per cent premium over the non-branded hotel inventory. C9’s managing director Bill Barnett said: “With the geographic shift away from long haul tourists to the Asian and domestic segments key demand generators such as large-scale retail, tourist attractions and a rising resort residential market has fueled positive sentiment.” One example of the new Pattaya is Centara Grand Mirage Resort which has successfully seen their experience-based themed property deliver a “no need to leave” factor for families and couples. Centara Hotels and Resorts senior vice-president Sales and Marketing Chris Bailey said: “With three operating properties in Pattaya and three more in the pipeline, there are parallel opportunities in two distinct market segments. For those

Thailand’s Thai-American Magazine and is reproduced with their kind permission

of Pattaya City

Holiday Inn on Pattaya Beach. wishing for more value-driven offerings, customers want quality accommodation but not an extensive range of facilities. For them Pattaya as the destination is the main attraction.” Theme parks Looking to 2013, C9’s report points to the major investment into internationally-affiliated theme parks in Greater Pattaya that will drive further growth. With 49,348 rooms in registered tourism establishments, much of the build-up came in 2009 and 2010 when supply increased 28 per cent. This has flattened out with 1,779 keys now in the pipeline that equate to an upward swing of four per cent, according to the report. One beneficiary in a shifting hospitality scene is the upscale international tier with Sheraton Pattaya ranking high. Here hotel developer Aswani Bajaj of Amburaya Hotel and Resorts cites that “the increasing demand of

The upscale Sheraton Pattaya. more affluent visitors is creating a strong sustainable financial business model for the hotel”. According to a source at the Thai-listed Erawan Group who own the Holiday Inn resort, the new dynamic of Pattaya is that the city can serve both the corporate and leisure markets. Appraising Pattaya’s DNA, Bill Barnett added: “Comparing Pattaya to other resorts in the country such as Phuket, Chiang Mai and Koh Samui the former has less pronounced seasonality which results in mitigating volatility. Currently supply and demand remain balanced as limited prime land availability points to a future regime of hotel redevelopment versus new build properties.” The focus and the rapid development in Pattaya has not been lost on the local Thai market – with domestic travel of young upwardly mobile Thais or Thai families making the short hour and

a half drive down to Pattaya for the weekend. It’s about as long as it takes some of them to get to work in the morning on an average day, so clearly not much of an obstacle to travel. But it is more than the convenience. The destination’s dining choices, shopping at places such as Central Festival and the options of watersports and golf are all part of a varied and vibrant lifestyle destination. It is more than that too – as savvy locals have business interests in a range of projects that a booming local economy is able to support. Manufacturing The manufacturing industries of the Eastern Seaboard are the main drivers of this – with their expansion underpinning and fueling substantial business growth and development in the residential as well as general business and entertainment sectors.

The massive Japanese auto plants for example are still there. There has been no talk of movement or relocation despite the political shenanigans in Bangkok. The only noise coming from these plants is new cars prepared for global export coming off the production lines. The close inter-dependent relationship of the tourism and industrial sectors is neatly illustrated by the interest in the tourism industry of listed industrial estate developer, Hemaraj Land and Development Plc (HEMRAJ). The firm newly set up a property unit, Million Island Pattaya Co, which recently acquired 228.15 rai on Koh Larn with the view to oversee the master plan, infrastructure, utilities and environmental planning of an integrated resort project to serve the growing number of tourists travelling to the destination as well as cater to the

09/2012•Issue 136•REm•85

SPECIALFEATURE

Malls such as the Central Festival have been a big part of Pattaya’s regeneration. residential and business needs of the expanding Eastern Seaboard. The development will compromise several resort hotels, a marina, recreational areas, entertainment, private beaches, retail boutiques, dining and a convention centre. One Pattaya observer who has a long track record of development in the city is Nigel Cornick. Great show of faith Renown for taking the reins at Raimon Land when the company was in the bankruptcy courts in 2001 and leading them to become known as Thailand’s most reputable luxury condominium developer, Mr Cornick has always shown a great deal of faith in Pattaya. “It is the fundamentals that I have always liked about the destination,” he said. “A very strong long-term backbone in manufacturing has created a

86•REm•Issue 136•09/2012

formidable commercial centre, which is combined with quick access to and from Bangkok and Suvarnabhumi Airport and a diverse tourism destination with high quality supporting infrastructure.” Now as chief executive officer of Kingdom Property he is set to once again enter the residential property market in Pattaya. Having secured project financing from Krung Thai Bank, Kingdom Property will build a new condominium, called Southpoint, on a four rai freehold plot in the Pratumnak area Opening for pre-sales in this third quarter, Southpoint will have a project value of Bt2bn with completion scheduled for 2015. Mr Cornick said he recognised the potential growth opportunities for real estate development in Pattaya as early as 2004, in particular quality condominium projects in prime locations. This resulted in

the development of Raimon’s Northshore and Northpoint, regarded as two of the leading developments in the city. “It was therefore a natural decision to focus on Pattaya for Kingdom Property’s first development. In selecting the Pratumnak area for Southpoint we recognise the significant opportunity for quality development in a location just minutes from Pattaya’s city centre,” said Mr Cornick. Pleasant environment “There’s a marina under construction and the Royal Varuna Yacht Club nearby. It’s a very pleasant environment. I believe South Pattaya will become the city’s most prestigious and valuable real estate over the next 10 years.” Mr Cornick added the burgeoning tourist arrivals and the fact that Thailand locals have embraced Pattaya bode very well

for its future. “Rental yields in Pattaya are actually higher than those in Bangkok,” he said. “Some developments in the city have long waiting lists and rental yields stand at around six to eight per cent compared to around four per cent in Bangkok. “Some nationalities are significantly increasing their presence; the number of Indian visitors has increased almost eight-fold from 300,000 in 2011 to an expected two million this year. “When I first came here 20 years ago, the Russians were still behind a wall. So many nationalities visit Pattaya and every single one of them is a potential customer.” The next 20 years are likely to break new ground for Pattaya as the destination embarks on another journey – as it moves to embrace a higher quality of lifestyle and a new era of development. Ω

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