Developers flock to Pattaya
Strong demand seen for condos priced under Bt3 million
Amid strong demand in Pattaya, listed property firms are launching condominium projects worth more than Bt10 billion, offering units priced lower than Bt3 million.
According to a Nation survey early this week, several listed property firms plan have been inspired to launch condo projects in Pattaya after LPN Development successfully sold out its debut condominium project in the city with units priced lower than Bt3 million.
Quality Houses plans to launch its first condominium project, offering units priced lower than Bt3 million in South Pattaya this year, worth nearly Bt1 billion. Raimon Land, which has experience of developing luxury condominiums in Pattaya, launched its first condo project Unixx, in South Pattaya worth Bt2.4 billion, with condos priced lower than Bt3 million.
After its success last year, LPN Development has launched its latest condominium project, Lumpini Ville Nakra-Wongamart, worth Bt2.5 billion. NC Housing also plans to launch its first condominium project in Pattaya in this year.
TCC Capital Land Co sees Pattaya as a potential area for developing a residential project.
Sena Development plans to launch a mixed-use project combining condominium, serviced apartment and shopping centre at Pattaya after acquiring a major stake in T Treasury Holding, the owner of the Pattaya Country Club and Resort in Chon Buri province, for Bt590 million at the end of last year.
“We see a strong demand to buy residences in Pattaya as a second home after last year’s floods hit Bangkok and its suburbs,” Sena Development director Kessara Thanyalakpark said.
The targeted buyers in Pattaya are locals rather than foreign investors, who can afford units priced at lower than Bt3 million. They include people from other provinces who have moved to work in Pattaya, and Bangkok and suburban buyers who want to buy a second…
Full story from The Nation at http://goo.gl/53omY
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Sunday, 9 March 2014
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