Pattaya has seen incredible development over the last few years with minimal land for sale in Pattaya still available. Condos have been developed in Pratamnak, Jomtien and Wongamat along with all central areas. With land becoming scarce and prices rocketing, developers looked further out of the traditional main areas with Na Jomtien and Bang Saray proving popular for condos in Pattaya and Huay Yai, Pong and Bang Saray being appealing for luxury housing.
The land is a Scarce Resource
Pattaya continues to welcome visitors and developers are continually looking for new plots of land. Several properties have been demolished in the Wongamat area with the showroom for a new condo currently under construction on Soi 16. Replacing buildings is the only realistic option in this area, along with other prime locations throughout the city. As a result, new areas to the north, east and even south of the city are being explored.
When it comes to land available for a series of new development, especially close to the sea, the options are minimal. Some beachfront land is available with two new projects underway in Jomtien and Pratamnak, but apart from that, it is to reuse land or move further out of the city. To the north may not seem overly attractive at present, but this was also said about Bang Saray a decade ago so it would seem foolish to rule in out. Realistically, over the forthcoming years, this could extend as far as Laem Chabang if required.
There is still some potential between Na Jomtien and Bang Saray. However, this is limited, and to the south of Bang Saray is hillside, forested, rugged terrain that is likely to impractical to develop significantly, for condos at least. The infrastructure is also some way behind that which is available in both Pattaya and Jomtien.
Great opportunity to buy a nice plot of 1 Rai near Rugby School
Housing developments in Pattaya are experiencing the same problems in terms of land in prime locations, predominantly East Pattaya and Jomtien. As a result, developers will be forced further to the east such as around Chaknork Reservoir, Pong, Nong Palai as well as around the Highway 36. Once again these locations are considerably further away from Central Pattaya, but this appears to be less of a concern than it was a decade ago.
The hillside locations around and to the south of Bang Saray are more suited to luxury housing developments as opposed to condos, so this again is an option. The luxury villa market has always remained buoyant, even during periods when other aspects of the Pattaya property market have been experiencing something of a lull.
Beautiful 4 bedroom pool villa on the beachside of Jomtien
The Pattaya property appears to be in a sustained period of recovery with developers exhibiting far more confidence than in previous years. The demolition of property to make way for new buildings could also be seen as a positive with landowners confident that they can obtain the desired prices rather than keep existing businesses open.
However, there is no escaping the fact that this land is premium real estate in Pattaya which will inevitably result in premium prices being demanded. These plots of land may be priced out of the market and developers turn to virgin locations that we have discussed above. Regardless of where the new builds are, the future for Pattaya appears to be bright.