These are unprecedented times as the COVID-19 crisis takes the world by storm. Each country has been affected differently, but there’s one thing that we all have in common: people are worried about what the future has in store.
We can’t say for sure as to whether the virus is here to stay, how many more people will die, what the economic backlash is going to be like, or how the world is going to look when we come out of the other side. One thing is for certain though: most people haven’t faced anything as enormous as this in their lifetime.
But despite the darkness and tragedy, there is still an opportunity to be hopeful and positive about the future. Many people have suffered and will continue to do so as a result of this terrible event in human history. However, as individuals, all we can do is try to keep our friends and family safe, and to give back to our communities in any way that we can. That, and it is essential to look forward and try to seize any opportunity to secure your future.
Now there are opportunities within the Pattaya real estate industry as a result of the COVID-19 crisis.
It feels unsavoury to be talking about an opportunity at a time like this, but life must carry on. Any savings that you can make means more money to provide for those close to you and that is what matters the most.
Lower Rental Prices are possible on long term contracts.
OK, so it’s foolish to state with complete certainty; however, we are already starting to see the effects of COVID-19 as landlords are slashing their rental prices. It is the silver-lining of the pandemic: people helping others. Yes, there are many people out there trying to take advantage of others. However, the majority of people in the world are demonstrating the true nature of humanity: compassion.
You can now rent a cosy 110 sqm 2 bedroom condominium with all facilities at 25,000 Baht per month in the centre of Jomtien
Why Low Rental Prices?
- Landlords in Pattaya have reduced rent for property lessors out of empathy for those who have lost income and are unable to keep up with payments.
- Another reason for this is to try and attract more people to Pattaya and keep the property market afloat. Many people have been fleeing to their home country to stay safe and remain close to their families. As a result, there are many properties which are now empty, leaving landlords having to pay their bills absent assistance.
What Does This Mean?
This recession will likely lead to several property owners trying to shift their properties as quickly as possible to avoid having a massive loss in the foreseeable future. We are seeing it now as you can see by merely searching for Property for Sale in Pattaya.
Thus, now could be an excellent time for investors to snatch up some key real estate!
Opportunity for Expats to Secure Quality and Affordable Accommodation
Leading on from the reduction in rental prices, if you are worried about living in such a large, congested and subsequently vulnerable city as Bangkok, then now could be an excellent time to get out! Since places like Pattaya are experiencing an increase in the number of people fleeing home, the prices will invariably drop. So, if you are already in Thailand for the long-run and don’t wish to return to your home country, then a change of scenery will be in order.
Move to Pattaya and grab a gorgeous apartment rental while taking advantage of the record low prices. Just be sure to negotiate a long-term contract so that you can lock your low rates in place for the foreseeable future.
Just reduced by 1 million baht! Impeccable and comfortable 3 bedroom pool villa in the sought after village near international school.
These are turbulent times indeed, so the most important thing is to ensure that you remain safe and that you have enough money set aside in case of an emergency. Thus, looking for cheaper accommodation is a sensible move. Even if you don’t wish to live in Pattaya for the long run, it could be an excellent place for you to ride out the storm, while saving some much-needed money.