Pattaya is a great place to work, live or to spend the holiday, besides these well known facts it is also a great and promising place to invest money beneficially in off-plan condominiums. There are attractive locations available and fine projects to invest in. Jomtien beach, Central Pattaya and Wongamat area are the most popular and attractive areas which offer quality developments from well established property developers on the Eastern Seaboard in Thailand.
You may ask why buying off-plan is beneficial. This is very simple most of the condominiums in Pattaya are already sold before the developers start to build. Plans are drawn by architects, EIA approval is in process and these conditions guarantee the buyer a huge profit when the project is completed. The risk that changes to plans could be requested to receive the EIA approval is present, yet when choosing an experienced developer with a good track record you can reduce this risk to nearly zero. Off-plan projects are always offered at a cheaper price and provide the opportunity to buy multiple units and then resell them for a higher price.
When you're planning to buy a condominium in Pattaya there are a few things to be aware off which I have listed below.
1. Choose the project wisely make sure to buy your condo from a firm that is well established and is in business for several years.
2. Do a background check to see how many condominiums and projects they have completed this is a very important issue to make sure that the investment is risk free.
3. Beach front areas like Jomtien beach are recommended, they are easy to resell or ideal for short time rentals (from 4 weeks on) for holidaymakers that spend their vacation in Pattaya.
4. Central city location of property developments are ideal to rent out for permanent residence to people that live and work in Pattaya and Eastern Seaboard.
5. Prior to buying a condo one important factor should be clarified, does the building provide easy access to public transport? This is a highly important issue for tenants or buyers. Easy access to public transport will make the property very attractive because the city center, the work place and popular locations can be reached fast.
6. Discounts are a very important thing you should discuss when buying a condo in this little beach paradise. Discounts may vary and are handled on a case by case base, however every property developer or real estate agent in Pattaya city will be able to give you an agreeable discount. So make sure to negotiate when buying and do not be shy.
7. Most of the condominium developers offer good contracts which you can trust. You do not have to make extra expenses to hire a lawyer for this purpose. Just make sure everything is listed as you like and ask for corrections when necessary.
The real estate industry in Pattaya is still booming and the city will expand until Bangsary in the next 10 years. It will be one of the biggest cities in Thailand after Bangkok with a well organized infrastructure. New train lines and a sky train in Pattaya are in planning.
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