อสังหาริมทรัพย์ Paradise City

What will the ASEAN trade agreement do for Pattaya’s Property Market?

อสังหาริมทรัพย์ Paradise City — Wed, 19 Jun 2013 04:25:53 +0000

In 2015 the ASEAN (The Association of Southeast Asian Nations) trade agreement will come into action allowing all 10 participating countries to act as a single trading region with, in principle, a free trading policy. There will of course be changes, many still to be agreed upon, in trading regulations within and without South East Asia. One change that is hoped for in Thailand is the ability for a foreigner (inside and outside of the ASEAN community) to buy land. Currently foreigners can purchase condominiums outright in their own name, but cannot directly own land in Thailand. Foreigners are able to indirectly purchase land by using a Thai registered company. Many thousands of foreigners have invested in housing and land in these ways, but having the peace of mind of owning land outright would indeed have a positive effect on Pattaya’s property market. Many foreigners that are considering relocating or retiring to Thailand could re-consider their options about buying land and property as it would be a much simpler and safer option.

Changes in land ownership policy, reduction of high import duties and general freeing up of the ability to trade with the ASEAN community would also attract business from further afield, this in turn would lead to more foreigner workers relocating to Thailand and purchasing property.

Property prices in Pattaya are currently very reasonable when compared to like for like accommodation in Europe. Large houses in Pattaya, in particular, can be currently snapped up at lower than market value prices largely due to fluctuating exchange rates and the European recession. If these restrictions and the European Union’s economic climate change in 2015 investing in Property in Pattaya could be a shrewd move. It is a given that property sales in Pattaya to ASEAN community buyers will increase with relaxed working and trading conditions coming into play and with Pattaya’s rapid on-going development, the long term prognoses is very good concerning the increase in value of property in general.

Condominiums are also a great investment opportunity; there are many developments currently under way that indicate a return of investment on rental of 10% per annum. Plus, if you buy off plan immediate re-sale profits are often realised.

One example of extended trading potential is being instigated by Belgium’s Crown Prince Philippe and a team of nearly 100 top businessmen from his country. Prince Philippe has seen the potential Thailand has as the hub of the ASEAN community and wishes to help strengthen trade agreements, leading to further trade agreements with the European Union.

In conclusion it appears to be a very good time to invest in Pattaya’s Property Market, the ASEAN trade agreement looks set to increase the number of tourists and migrant workers coming to the region and inevitably a larger population needs more accommodation. Any foreigner considering buying property in Pattaya should of course seek professional advice first so they can weigh up all of their options.

How much have the fluctuating exchanges rates effected the Pattaya Property Market?

123pattaya123 — Fri, 14 Jun 2013 03:29:30 +0000

The British Ex-pat will be pleased to hear that the pound closed at just over 48 Baht to the pound on 11th June 2013 following a recent low of under 43 Baht. However, if you are a seasoned traveler or have made Thailand your second home the Baht per pound ratio seems to be staying well below 50 เพื่อให้ 1 of late. Not so long ago in 2005 the British enjoyed 75 Baht to the pound and in early 1998 for a while the rate peaked at just over 90 Baht. (This was fueled by the Asian Financial crisis of 1997). Previously, however, the Baht had been much stronger than today, but what effects have these fluctuating exchange rates had on the Pattaya Property Market?

Over the last few years the number of British visitors and ex-pats in Pattaya seems to have declined, this is down to several factors. Firstly the recession in the UK and Europe has resulted in the potential traveler cutting back on expensive trips abroad and many of those considering retiring to exotic foreign shores have had to re-think their plans due to pension schemes performing poorly. The reduced Baht per pound ratio has also resulted in some retired ex-pats selling up and heading back home and prevented many would be buyers from purchasing property in Thailand. In reality though the number of Brits visiting or relocating to Pattaya has increased! (With a temporary dip between 2010 เพื่อให้ 2012), but this has been eclipsed by the increase in the number of Russian tourists and property buyers, thus giving the appearance of decline in the number of British, Americans and other Europeans in Pattaya. In March 2007 Thailand and Russia implemented a mutual visa waiver agreement. This enabled Russians to visit Thailand on a standard tourist visa and has led to the rapid rise of the number visiting and relocating to Thailand. Pattaya is now being promoted to the Russian and Asian markets as a family holiday destination, so the type of tourists and would be buyers for property is changing too. This can be seen in the number of family orientated hotels and attractions that have opened or are currently being developed.

Many of Thailand’s visitors are also from India, China, Malaysia, Singapore and South Korea and outweigh the number of European tourists. There is a growing trend for property investors from Singapore buying condominiums in large numbers off plan in Pattaya to re-sell at a profit when complete. Property prices are far more affordable in Thailand compared to Singapore. South East Asia in particular is currently developing at a pace not seen in Europe since the industrial revolution and this literally creates new millionaires every day, Pattaya is a great place for many of these to invest, particularly in construction developments and property.

ดังนั้น, the fluctuating exchange rates have had some effect on the Pattaya Property Market, but it seems that there are other factors at work too that are having just as much if not more of an impact. Many expats, the British in particular, may be a little more cautious when it comes to investing but there are a growing number of Asians and Russians that are enjoying their ability to buy.

The future for the Pattaya Property Market looks rather interesting with a recent United Nations Populations Division report indicating that many western tourists that currently visit Pattaya will retire there based on their reduced pension funds affording them a better standard of living in a warmer climate. This really is where a stable and plentiful exchange rate will have the biggest effect. Time will tell.

พาราไดซ์สถานที่ให้บริการนิตยสารเมือง #005

123pattaya123 — Thu, 13 Jun 2013 08:10:08 +0000

A bi monthly supplement showcasing the smartest Pattaya investment properties, the best value rental properties, and the best bargain properties for sale.

New National High Speed Rail Link proposed in Thailand

123pattaya123 — Fri, 07 Jun 2013 07:36:15 +0000

With South East Asia rapidly developing the next step in improving trade and tourism is to improve transportation networks. One of the best ways to do this, as proven in many countries around the world, is to construct high speed rail links between all major cities and tourist destinations. The Thai Government has been taking this issue very seriously and are currently finalising preparations to construct the Kingdom’s first high speed railway line. This will be the biggest and most expensive single construction project undertaken in Thailand and has an estimated cost of 900 Billion Baht! There are four proposed High Speed Rail Links all merging at Bangkok. The first will link Thailand’s capital city with Nakhon Ratchasima , the most Northern Eastern city with a journey time of just 90 minutes with an average speed of 250 km/h. The next will link Bangkok with Chiang Mai the third with Hua Hin and finally Bangkok with Pattaya, Thailand’s busiest tourist destination having over 8.35 million visitors over the last year. The benefits will be much reduced travelling times and a vast improvement in commerce, but is it all worth it?

Further investigation reveals that China is encouraging South East Asian Countries to connect in this way, with each other and in turn connect with China. The proposed High Speed Railway for Laos will connect Luang Namtha, on the North Laos border heading south to the Laos capital Vientiane. When constructed this would offer a High Speed Rail Link straight from China to Bangkok and beyond.

One hurdle yet to be fully overcome in Laos is the concern over the cost of construction, which is around one quarter of the cost to build the Rail Link in Thailand. (7 Billion Dollars as opposed to 25 Billion Dollars.) Even though the Laos Rail Link will cost 4 times less than the one proposed in Thailand, it equates to 80% of the Laos national budget! Exim Bank of China has promised to finance the scheme and loan Laos the money.

In conclusion, it seems the next logical step to connect the major cities of Thailand with a High Speed Rail Link. It will take many years to recoup the cost of construction for all South East Asian countries intending to join the scheme, but with the ever growing need for faster trade and transportation Thailand wants to lead the way thus attracting more international companies and indeed more tourists to visit the land of smiles.

(The High Speed Rail Link for Thailand is expected to be commissioned by the end of 2018.)

New Tourist Attractions for Pattaya

อสังหาริมทรัพย์ Paradise City — Mon, 27 พฤษภาคม 2013 07:42:17 +0000

Anyone who lives in or visits Pattaya on a regular basis will have seen a tremendous amount of new construction projects and tourist attractions being built over the last few years. South East Asia is rapidly developing and Pattaya is no exception. Let’s take a look at some new tourist attractions currently under construction or newly completed and see what they have to offer.

Ramayana Water Park will be South East Asia’s biggest water park and the first internationally designed, constructed and managed water park in Thailand and will be located next to Silverlake Vineyard and just 1.5 hrs drive from Bangkok. Ramayana is one of the great epic stories of India that explores human relationships and the concept of dharma. Rama is an avatar of the Hindu Supreme-God Vishnu and Ramayana simply means Rama’s journey. Rama is fundamental to the cultural consciousness of many South East Asian countries, including Thailand, so it is fitting that the water park be themed along this epic story line.

There will be 7 zones set in an exotic natural landscape.

Pattaya was chosen for this project because it is now the leading tourist destination with over 8.35 million visitors per year!

Ramayana Water Park is being built by WhiteWater West Industries, a specialist in water park construction since 1980 with over 4,000 completed projects. When complete Ramayana will cover approximately 160,000 sqm of land and offer the latest thrilling family rides and entertainment including a 70 meter long activity swimming pool plus a relaxation pool with spa’s and pool bar. Ramayana will be open to the public in early 2014, for up to date information and progress reports visit http://www.ramayanawaterpark.com/.

Mimosa, ‘The City of Love’, is one of Pattaya’s newest tourist attractions. Located on the Sukhumvit Road opposite. The Ambassador Hotel it is one of the most beautiful developments to have been constructed in Pattaya. The City of Love is already becoming a popular location for wedding photography and could easily become the most photographed attraction in Pattaya.

The design of Mimosa was inspired by ancient French architecture, which is characterised by bright colours. The city will transport you back in time into a fairy tale wonderland. This is a truly unique destination and is well worth a visit. There are many shops to browse and restaurants that offer a variety of international cuisine. There is a canal centrally located where you can sit and watch the swans and ducks swim, a square with a super-size fountain and there will be full size theatre, currently still under construction. Many staff wear themed costumes and are more than happy to have their photograph taken with you! So if you and your partner are in a romantic mood, or simply want to spend some relaxation time in beautiful surroundings, Mimosa is a must see attraction.

Thepprasit Road in South Pattaya is the location for an amazing new tourist destination, The Coliseum Show. If driving towards Jomtien you will be surprised to see the newly built Coliseum, based on the ancient Rome gladiatorial theatre. (Also known as the Flavian Amphitheatre and is an elliptical amphitheatre in the centre of the city of Rome, Italy.)

The Coliseum is currently under construction, but will definitely be a major attraction and tourist destination when complete. For up to date progress visit http://www.colosseumshowpattaya.com/.

Paradise City Property May Newsletter

123pattaya123 — Fri, 17 พฤษภาคม 2013 03:00:43 +0000

Paradise City Property May Newsletter – All our latest listings and best deals

Treetops Launch Video

123pattaya123 — Tue, 09 Apr 2013 07:32:44 +0000

Treetops Condominium is a high end condo development being constructed on Theppraya Road, ideally situated between Jomtien and Pattaya

Amari Residence Construction Update Video

123pattaya123 — Tue, 09 Apr 2013 07:19:57 +0000

Keith Storey of Nova Group discusses the progress of their project Amari Residence

Paradise City Property Bi-Monthly Supplement – Issue 4

123pattaya123 — Wed, 03 Apr 2013 09:49:36 +0000

Property Developer Marketing Strategies

123pattaya123 — Thu, 17 Jan 2013 05:39:06 +0000

How many property developers are there in Pattaya nowadays? What with the massive influx of condominium developers and the few housing developers, I think we could safely say somewhere in the region of 20 major developers.
What has become a very interesting point are the different marketing strategies all of these developers use to promote their projects. We are seeing a benchmark for condominium marketing set by some of the bigger developers such as Heights Holdings, Nova & Matrix. But what is interesting is the different forms of advertising they use. What is more interesting than this, is the developers that seems to do virtually no advertising? Do these developers see advertising as an expense, or what it really is, an investment to obtain their objective sales targets over a planned period of time, and also giving them a marketing advantage over the competitors?
Marketing is about creating a brand, and branding is recognition. Most of the bigger developers have slogans to support their branding, such as “We Build our Promises” & “Developing the Future”, which also creates that recognition. All project marketing should be aligned to your original outline, whether TV, magazine or email, otherwise you can create confusion, and a confused customer will not buy.
So the question we poise is, are smaller developers being left behind in this mass of local marketing from the bigger developers, or is there some “behind the scene” plan that we don’t know about.
Going back to what I mentioned before, that we see most of the developers advertising in different formats, shows how they feel their budgets work better for them. We see almost all of the projects are advertised in local magazines and newspapers. Many are on the local TV and then we have other areas such as the massive signboards on the 7 Highways as you drive into town from Bangkok, web-sites and radio, and probably the most common the street signs.
What has become apparent lately are the number of developers that have seen that maybe they are unable to compete with the larger developers in town, and have studied other areas to market outside of Thailand, and have shown that this to can be productive. One such project that has just won an award in Thailand for “Best Boutique Development” had virtually no local or national advertising in Thailand, but was focused in the Singapore and overseas expedition markets. “South Beach” by Beach Properties has proven to be a great success with around 95% sold out and was completed on time.
The main marketing strategies in the local market for the major developers seem to be “price driven”. Most of the advertising reflects on the lowest priced units, which in turn will attract the buyers. In terms of the smaller developers, with slightly higher build costs due to the size of their project probably won’t benefit from such a marketing direction, and so many seem to promote features as their benefits. These smaller developers may have higher build costs and lower profit margins, but in essence they still need to sell their product as quickly as possible. Tudor Court by Tudor Group has focused over the years on European build standards that have been introduced into their projects and they have stuck to their game plan since day one.
With some of the numbers being quoted on the many different types of tourist and expat arriving in the area, it would make sense to study this area of the market also. We have the Chinese, Indian and Korean tourist numbers are likely to be the main increase. So where to go from here?
All of the developers will have a budget for their marketing set aside, or should have anyway. I do hear figures from two percent up to five percent of the projected sales figures as a marketing budget, dependant on the salable square meters of the entire project. Many developers will conduct this in-house, and many will ‘farm’ the work out to a marketing company. What is essential is that whoever does carry out the marketing have studied where the budget will be spent. Should the marketing be front end loaded, with major marketing spend prior to the project being launched, so spreading the budget in percentages over the projected build time. Identifying the correct channels to connecting with your targeted consumer, so identifying the consumer prior to starting marketing again is essential.