Pattaya is a city in its own right, with its own mayor and administration. Thanks to a government development program for the Eastern Seaboard (including Chonburi and Rayong), the region has enjoyed rapid industrial and commercial expansion. A new deep-sea port (Laem Chabang) is located just 20 km north of Pattaya, featuring a vast industrial estate, while another development zone has seen the light near Rayong to the south.
In total, there are now 12 industrial estates on the Eastern Seaboard, making it an important industrial hub where about 10,500 expatriates happen to be employed. Several international schools and hospitals have been established through the years, Pattaya boasts some of Thailand's finest hotels and resorts, golf courses, every other recreational facility you can imagine, great malls, entertainment and, of course, a notoriously famous nightlife scene.
Yet, it's seaside location and palm-fringed beaches where many types of fun is offered in and out of the water, reaffirms its status as Thailand's only mainland beach resort with city status. Indeed, Pattaya has something for everyone, and offers the best of two worlds... The Tourism Authority of Thailand reports that 4.5 million visitors came to Pattaya in 2005, an increase of 5.4% from 2004.
With the Kingdom's new Suvarnabhumi International Airport about one and a half hour away by car, and several initiatives in place to rid Pattaya of its sometimes perceived as sleazy image, the stage is set for a show-down with the country's other real estate favorites, Bangkok and Phuket. Investing in property in Pattaya is considered a safe, sound and calculated move with guaranteed and healthy long-term returns.
Location and lifestyle are undoubtedly the two biggest selling points, and the market has matured to the extend that property developments are on par with international standards and trends. Unlike Bangkok, land is readily available in Pattaya, providing property hunters with opportunities of buying affordable stand-alone houses or investing at a housing estate. However, the hassle-free option of condominiums that offer a lock-up-and-go lifestyle (and also given the advantages in terms of foreign ownership), remains undoubtedly the most popular and fastest-growing real estate trend.
Proof of Pattaya's popularity is its forever-growing cosmopolitan flavour, with a large contingent of expats from especially the USA, UK, Germany, Scandinavian countries and even Russia who have either settled and retired here, or invested in holiday homes. The growth in the residential market has been further boosted by a demand for property from Pattaya locals and other Thai buyers. As a result of the new airport and continued improvements in infrastructure, more property developers are also entering the market to launch a variety of developments, including residential, international chain hotels and retail projects.
Location and lifestyle are undoubtedly the two biggest selling points, and the market has matured to the extend that property developments are on par with international standards and trends. Unlike Bangkok, land is readily available in Pattaya, providing property hunters with opportunities of buying affordable stand-alone houses or investing at a housing estate. However, the hassle-free option of condominiums that offer a lock-up-and-go lifestyle (and also given the advantages in terms of foreign ownership), remains undoubtedly the most popular and fastest-growing real estate trend.
Proof of Pattaya's popularity is its forever-growing cosmopolitan flavour, with a large contingent of expats from especially the USA, UK, Germany, Scandinavian countries and even Russia who have either settled and retired here, or invested in holiday homes. The growth in the residential market has been further boosted by a demand for property from Pattaya locals and other Thai buyers. As a result of the new airport and continued improvements in infrastructure, more property developers are also entering the market to launch a variety of developments, including residential, international chain hotels and retail projects.
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