When you look around Pattaya in Thailand, it is clear that the city is changing. The Covid pandemic brought significant problems that could not have been predicted. Around 20% of Thailand’s GDP comes from tourism, so the entire country, but especially the tourist destinations has suffered greatly in the past three years. However, things are picking up again and there are several reasons why it’s a great time to invest in real estate in Thailand, but best of all in Pattaya.
It’s a buyer’s market.
If you have the funds to buy, now is the time to find excellent deals. The pandemic has limited the visitor numbers coming into Thailand, so fewer people are looking at property in Pattaya and it really is a buyer’s market. So, if you do your research, you will undoubtedly find yourself a bargain. You might want a small studio apartment in the city or a mansion in the suburbs. It might just be the right time to reconsider that beachfront condo for sale in Pattaya. Whatever your requirements, you will be able to get great value for money if you buy right now.
Property development in Pattaya.
Now that the immediate effects of the pandemic are over, lots of investment is flowing into numerous construction and development projects in Pattaya. Thai and foreign investment in condo development, house building, and hotels, is moving ahead as investors look to the long term, and bank on the continuing popularity of Pattaya. Thailand, and especially Pattaya, is re-emerging as the haven it always was before the arrival of Covid.
Improvements in infrastructure.
During Covid, while the usual crowds of tourists were absent, infrastructure work has carried on apace throughout the country. Pattaya is now benefiting from the installation of new drainage pipes to cope with monsoon flooding. The ubiquitous overhead cables have been buried in certain areas, especially along the beach roads. There have also been improvements to the beaches and promenades. Beachfront property with amazing views is now available and affordable.
The new Eastern Economic Corridor.
Now is a great time to invest in Pattaya due to the new Eastern Economic Corridor. Massive investment is taking place in this project, and Pattaya is perfectly positioned to capitalize on this. Developments will be taking place in the ports, with the motorways, and with a new double-track railway. U-Tapao airport will expand into an international hub to bring millions of extra visitors to Pattaya every year. These developments will transform the city into an even more significant travel destination.
The proximity to Bangkok.
Pattaya is already within easy reach of Bangkok, but a new high-speed railway connecting the two cities is soon to be completed which will bring new opportunities and new businesses. Property values will undoubtedly rise to reflect these developments. Ultimately though Pattaya is a great place to live. It is changing, and it will prosper with these new developments to thrive like never before. In the long term, this is a great time to invest in property in the city.