An aerial view of hotels and the residential area on Pattaya beach. Panupong Changchai Despite ample supply, Habitat Group is continuing development of condos for investment in Pattaya, planning to launch two new projects in the second half to tap interested buyers.Chief executive Chanin Vanijwongse said villa and condo projects in Pattaya with hotel management and rental yield guarantees have become more popular among developers since last year because the model offers convenience for buyers. “In tourist destinations, renting out a condo unit is cumbersome for the unit owner to seek tenants and take care of the unit,” Mr Chanin said. In the first half of 2019, new supply launched in Pattaya slowed as new lending curbs, the political situation and the rising value of the baht affected market sentiment. Chinese developers continued launching new condo projects but shifted from residential projects to projects for investment with branded hotel management and rental yield guarantees. Mr Chanin said Pattaya’s property market will recover in the second half because of the booming tourism sector and recovery in economic sentiment after the formation of the new government. According to Phoenix Property Development and Consultancy, new condo supply being launched in 2019 will total… Read full this story
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