Investing in the Pattaya property market
- Property must be tenanted or very easy to rent out as he is only here 2 months out of every year.
- The ideal property must attract long term tenants as it would make it hard to successfully rent it out every 3-6 months
- A good price with in or below the standard market price
- Good return % (7-10% would be ideal)
- Reputable developer & a quality project.
- A good location is important but the view isn’t so important as I wont be living in it myself.
So in the case of the above buyer, we would definitely recommend a good rental guarantee investment property with a reputable developer. Basically different courses for different horses. But at the end of the day if each investor achieved their goal wether it be secure rental return or short term capital gain, its important that they be successful regardless of their choice of investment property in Pattaya real estate market. But in our opinion to be successful you need start with the property that aligns with your objectives & lifestyle.
Your first Pattaya investment property should consume lot of your time as you learn the ins and outs of being an investor & a landlord in Pattaya. Think of it as another part-time job. Do you have the time to learn & implement?
Don’t let your investment property in Pattaya get you in too much debt
Savvy investors might carry debt as part of their investment portfolio, but the average person should avoid debt. If you have
outstanding loans, unpaid bills or have children who will soon attend college, purchasing a property in Pattaya may not be the right move at this time. Best option for a person in this situation is sit back & watch a few others who bought, see what where & for how much they bought. Then ask them about their particular likes & dislikes and their experience. Education is valuable because it can be turned in to money. Debt on the other hand is debt + years of interest. Never jeopardise the comfort of a peace of mind today with untimely & unnessesary commitments. Specially ones you cannot afford, don’t really need and might even rarely get to use. But if you have made up your mind and are keen to purchase then take all above in to consideration. Remember you don’t need to go out on a crusade to find the best possible property on the market, You just need to find a good property in Pattaya that ticks all YOUR boxes.
Don’t buy Fixer-Upper properties in Pattaya
It’s tempting to look for a Pattaya house or condo that you can get at a bargain and flip it into a rental investment property. But not in Pattaya. In Pattaya usually where there is an old condo or house there is also an old building or housing estate that comes with it. Renovating your own condo or house is one issue but what are you going to do about the rest of the building? Unless its located in a good complex with good overall maintenance but if not then just forget this idea. With so much cheap new condos for sale in Pattaya there is really no need to go through all that trouble.
8. Determine your return on investment before you go out to buy an investment property in Pattaya
For every dollar you invest, what is your return on that dollar? Stocks may offer a 7.5 percent cash-on-cash return while bonds may pay 4.5 percent. A 7 percent return in your first year as a landlord is considered healthy, especially given that number should rise over time.
10. Find the right location for your Pattaya property
Depending on your budget buy as close to the beach as possible and/or close to the centre. Good views, distance to major attractions & beachfront/sea side locations are all major factors in a property’s over all capital gain ratio. Just as important as being in a good location in the city is being in a good location with in the project itself. Picking the best location within the project can affect your capital gain rate as well as your asking price.
Find the right project in the Pattaya property market
In Pattaya real estate market there are many projects to suite almost everyone’s budget. If you are buying in the higher end of the price bracket then we always advise to buy beachfront with permanent sea views. In the cheaper Pattaya condo bracket try to buy in projects with the most valuable facilities. Projects with the biggest pools & most number of facilities are always better buys than projects with a small pool & 20 Sq. m Gyms. Resort style projects like Amazon or 7 seas have great facilities which help to attract short & long term tenants though out the year.
Investing in real estate has produced many of the world’s wealthy people, so there are plenty of reasons to think that property is a sound investment. But like any investment, it’s better to be well-versed before diving in with your hundreds of thousands of dollars (or millions of Baht). Arm yourself with the information above before starting a new career as a real estate tycoon in Pattaya. Learn about Thai Property Law & see more articles real estate investment in Pattaya before you hit the market.