bali villas and phuket land for sale and lease

For many years, Pattaya was regarded as a rather seedy place and this prompted a great number of overseas property investors to look elsewhere. Today this image is changing and the city now offers a more mature atmosphere with both the local authorities and private businesses making an increasingly significant contribution to the area's overall development.

On the residential front, the condominium and housing market in and around Pattaya has expanded over the past five years and the city now attracts some of the best designers, developers and builders in the country, which has already led to some high quality construction projects. Northpoint condominium was a huge success for Raimon Land, selling out within a very short period of time. Their latest development is currently under construction at Wongamat Beach and has also been very successful with sales and resale's continuing at a good rate. Ocean 1 at Jomtien, which will be the tallest residential building in the world, is undergoing soil tests and once completed groundwork and piling will begin. These and other high-class condominium projects are setting the standard for Pattaya's future.

On the periphery of the city, a number of boutique and larger developments based around anything from 6 to 60 homes have become very popular with overseas investors due to the style and quality of the construction. In addition, location and most importantly, accessibility to the city are becoming important factors with Bangkok and its new airport just an hour away.

East meets West, better known as Silk Road Place is a charming development of around 40 private detached homes blending Asian design with Western concepts. Siam Royal View phase 2 is also popular, with quality hillside homes offering commanding views over the city and the gulf. The project is Swiss owned and managed, with a build quality far above the norm. Further into the countryside, the stunning Phu Tara development offers 52 exclusive homes on 60 rai of land giving privacy, space and superb views towards the hills of East Pattaya. Excellent design and construction by one of Thailand's rising stars in the housing market, Khun Chutima, has added to the appeal of these homes.

Another new, high quality development is The Residence at Horseshoe Point Resort and Country Club, located close to Siam Country Club golf course. The residences there display a distinctive Thai/Balinese style and are set in a natural, rural area.

Besides foreign residents and investors, a good number of these high end homes have been bought by Bangkok based Thai families who use them for both long and short holidays, drawn by the added high-end facilities such as the equestrian center and of course golf.

Industry professionals in Pattaya increasingly report a dramatic upturn in land prices. Just five years ago one could buy land in the city for between 2 and 6 million Baht per rai, depending upon the location. Obviously it was land close to the centre and main tourist areas or near the waterfront that would attract a premium price. Nowadays one cannot buy prime land in Pattaya city for less than 40 million Baht per rai. Likewise on the beachfront at Wongamat and Jomtien, prices once hovered between 4 and 7 million baht per rai, with direct beachfront tracts selling from 6 to 12 million Baht. Today, buyers can expect to pay anything up to and above 60 million Baht per rai for actual beachfront land. Finally, countryside land once sold for as little as 300,000 Baht per rai, such plots now fetch upwards of 2 million Baht per rai and plots surrounding the Mabprachan and Chak Nork reservoirs are commanding between 4 and 6 million Baht.

The reasons behind these price rises are manifold. Location has always been an important factor in Pattaya, and will remain so. Supply and demand has, however, changed due in part to major developers buying large tracts, not just prime sites but also those previously considered secondary or even third and fourth tier. Another factor that has become increasingly significant is accessibility. The opening of the new international airport at Bangkok has played an important role in bringing Pattaya even closer to visitors. Years ago visitors had to endure a tiresome journey from Don Muang, which could take four hours or more depending upon the level of traffic. Now, with the new airport location and greatly improved infrastructure, travel time has been reduced to an hour or even less. This improved accessibility has boosted visitor numbers, and therefore also the number of investors and developers attracted to the city, its beaches and the surrounding countryside areas.

In terms of services and facilities, Pattaya has also become more sophisticated in the last few years. The city boasts some of the best restaurants in the country, catering to every palate and taste. The shopping meanwhile has become a pleasure rather than a chore and retail chains like Carrefour, Tesco Lotus and Big C provide products and supplies from around the world.

It seems Pattaya no longer remains in the shadow of Bangkok or its island cousins. A number of the major players in the industry have already invested millions of dollars in the area, which strongly suggests the city has come of age.
 

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