In these challenging times, it’s hard to know where your money will be safe and what investments will serve you best. In Pattaya and the surrounding areas, one of the safest bets for many years has been the purchase of land, especially in an area that can be identified as having potential for the future. With infrastructure being improved in the area, including the extension at U-Tapao airport, the high-speed rail link connecting Bangkok and Pattaya. The numerous other projects that will accompany the development of the economic corridor, the time for land investment may have come around again.
Even this year, with all the challenges of 2020 when it’s clear that the market is quieter than expected, the land price index for the latest period available showed a year-on-year increase of 3.7%. It may be just a small increase because, of course, at the moment, it’s a buyer’s market given the current circumstances. However, that doesn’t mean that land would not be a good investment in the longer term, especially with sellers looking to take what profit they can by setting their prices at below the current market value.
If you could take a look at what you would have bought a Rai of land for ten to fifteen years ago (certainly in the up and coming places of Na Jomtien, Huay Hai, Bang Saray and Silverlake), you would be looking at a figure of 300,000 to 500,000 Baht. Now even in the less favourable areas, you would be looking at something like 2.5 to 3 million Baht a Rai – an exceptional return on your original purchase.
Nice 1 Rai plot of land on the famous Phoenix Golf Course housing development
Buying land in an under-developed area is a wise investment with potential investors looking to purchase land, as you can see by the number of new projects that are currently under construction in various parts of the city and surrounding areas. Also, we have the sellers, as mentioned above, undercutting the market value but still taking a healthy profit. There are some real bargains to be had. So if you are considering land as an investment, where to start? The first thing is, do some research. The recent pandemic will see Pattaya evolve, survive and prosper in the future. The massive investment in infrastructure has not gone unnoticed by both the big businesses in Bangkok and further afield, and the incentives for that investment are considerable.
So take a look at where you think the development may come and therefore prices increase. Bang Saray, for example, will have the benefit of both the extension of the international Airport at U-Tapao and a stop on the high-speed train service from Bangkok. The recently opened new motorway extension linking Highway 7 to Utapao and Map Ta Phut will give a significant boost to the Eastern Seaboard and ease pressure on Highway 36. It will enable visitors from Bangkok to head for Ocean Marina and turn left into Beautiful Bang Saray circumnavigating Pattaya altogether.
The charming town of Bang Saray itself, with its various restaurants and bars (the local fish eateries are excellent), is proving very popular with the weekend Bangkokians. The numerous world-class golf courses near the charming fishing village and beach area make it a place worth considering for the future. Other places you should consider are Rayong, Na Jomtien or anywhere else that will be well served by the new transport links. Take the time to find out everything you need to know to make an informed decision. Get some advice from people who have many years of experience in the market in Thailand. You will need guidance and don’t be afraid to ask questions.
In the developing area of Bangsaray, 15 Rai of Land with sea views sounds promising
Please make no mistake, the investment coming into Pattaya and surrounding areas runs to billions of dollars, and this may be the time, aided by the pandemic, that it becomes the international destination that people have been speaking about for years. You can see the beginnings of it all around you even now. Thailand is still immensely popular with both the international investment and holiday market, especially in the Far East, Japan and the enormous and still growing demand in China. And there will always be vast investment coming down from Bangkok, who are no strangers to taking the long view over any potential returns.
So, is it too late to invest and make money on land? Not. As we said earlier, there are some real opportunities to be had in the market at the moment, and it may be that a new wave of buyers will come in to finance the new look Pattaya. If you are considering an investment for the future, a careful and well-informed purchase of land may well be the answer.
Pattaya Prestige Properties will be happy to show you some compelling examples of what is currently available and of course help guide you through the land purchasing process.