Expat Guide In Investing In Real Estate In Pattaya – Tips For A More Informed Decision

For expatriates who wish to retire or work long term in Pattaya, or for those who simply fell in love with the resort city and come to unwind several times a year, buying a condo may be the best and most logical way to go. There are a lot of affordable Pattaya condominium for sale, instead of wasting money renting over the years or paying for hefty hotel accommodations.

By law, foreign nationals are allowed to buy any Pattaya condominium for sale without restriction, granting that the building is 51% or more Thai owned. If the property you are particularly interested in is less than 51% Thai owned, you can only rent it.

Below are tips to consider before signing any real estate deal in Pattaya and in Thailand as a whole. This article aims to help expats who don’t want to waste their hard-earned fortune, definitely not for the kind of person who has a lot of extra cash and wouldn’t mind spending a few millions.

Condotels

Pattaya is a tourist haven, if you are not staying most parts of the year then it is best to invest in condotels. These properties are operated as hotels though they are legally condominiums. They maintain a front desk and is often a go-to place for rentals. But if you want to have a more private community, this is not the place for you. Condotels often have crowded pools and hold parties for tourists. Private living communities are further from the capital.

Furnishings

Most showrooms interior designed their sample units professionally. Buyers have to know that most, if not all, do not include the furnishing in the unit that will be delivered. The showrooms are merely a visual perspective of what you can do to utilize the space properly and rather beautifully. Sure, the paint and tile flooring is included. The kitchen sink and the bathroom fixtures may be included as well if you got a great deal. But the rest are not unless stipulated in the contract and mostly on promos.

Building standards

Do not base your decision solely on the cost, building standards should be the priority. Cheap properties may mean low quality, though not all the time. Developers may sacrifice building quality to cut cost, it is a business after all. Always check the quality of any property you wish to invest to.