New Property
Park Lane Jomtien Resort
Start price: 1 Million Baht for 36 sq.m. apartments. The concept and planning that went into Park Lane Jomtien Resort was the result of extensive market research within Pattaya and Jomtien areas. The intention of the research was to find out what people really needed and wanted when looking for an apartment in Thailand. Park Lane Jomtien Resort is the result of the vision and dream requirements of the buyer...
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How-to Buy
Thai law allows foreign free-hold ownership of a condo. Forty-nine per cent of a condominium block may be of non-Thai ownership, with some blocks allowing this to rise to 100% if the developer has acquired the appropriate condominium license.
Freehold or leasehold owner- ship options are available to the overseas buyer. A free- hold may be purchased if a condominium is still ...
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Investing in Thailand
Despite the recent setbacks, foremost political changes, property ownership laws uncertainty and the strong Thai Baht, the Thai property market remains one where substantial, best medium-term profits can be made, as property is still much cheaper in Thailand than elsewhere and investors can afford more for their money than in many global locations. For example, taking advantage of the possibility to buy a quality Thai home for approximately 40% of the usual costs for an equivalent property in the South of Spain.
The Thai property market ...
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Pattaya and Jomtien Property Market
Much has been written lately regarding the Thai property market, and locally, the Pattaya/Jomtien market. It is a difficult subject to really get a true feel for, as 90% of what is written is pure speculation or opinion. On one hand, there are the skeptical soothsayers who enjoy forecasting the demise of the property market. On the other hand we have the real estate agents whose job is to talk up the market in the most positive light possible.
Ask most business owners around Pattaya town how their business is, and chances are you'll hear 'slow'. This goes for anything from restaurants to retail to real estate. We're experiencing a 'lull'. No, the property boom is not over. No, the market has not reached a saturation point. And no, Malaysia is not taking away our customers with their 10 year homeowner visas (has anyone actually spent more than a week in Kuala Lumpur without wanting go back to Thailand as soon as possible?). Truth is, though there may not be as many customers to be had, it seems that the ones that are here are serious buyers. After speaking with several real estate agents around Pattaya town, closing percentages are up quite a bit even if the numbers of people coming through the doors are down. We can almost guarantee that the market will continue rolling and those who wait will lose out.
It is important to remind people to keep their eye on the ball. Every market has it's ups and downs. The market here in Pattaya is quite unique, though, in it's future potential. Remember - we are in Pattaya the seaside suburb of Bangkok, a metropolis with a Titanic sized economy that will continue to grow at a rapid rate. Unlike countries like the United States, there are no alternative cities that can offer something along the same lines as Pattaya can. Beyond this, the new airport just over an hour away, the new motorway will still be crossing through Pattaya and Jomtien, there are several new world-class condos under development as we speak, and possibly most importantly, there seems to be some clarification on the horizon regarding the Foreign Business Act.
Building activity is high in Pattaya and Jomtien
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Many existing property owners as well as potential buyers have been holding their collective breaths regarding the Thai governments decision on what is to be done regarding 'Thai company' owned properties. This has been the favorable way of purchasing land & house as well as apartments / condos that exceed the 49% allotted for foreigners.
A couple of months ago, the outlook in Pattaya seemed quite grim as the government stated that it would be strictly enforcing the Foreign Business Act which precluded that foreigners who used these Thai companies with nominee Thai shareholders were, in fact, in breach of Thai law, and would be given 24 months to restructure their companies in keeping with these laws. This would mean having to essentially sign-off these properties to a Thai citizen and taking out a leasehold - not an idea that many were enamored with.
Skip ahead a couple of months and we're hearing rumblings of easing of the Foreign Business Act.
The Thai government has announced that they want to encourage foreign investment - and with much of the foreign investment that has been flowing into the Thai economy being real estate related, I think it's quite safe to say that the Thai government is going to be looking for solutions for homeowners, rather than cause problems. I think they have become quite aware that scuttling the foreign-owned housing market will affect Thais a lot harder than it will foreigners.
It is in everybody's best interest to make Thailand a comfortable place to live as well as to invest.
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Thai Real Estate News
In most countries of the world, property markets are hypersensitive to even the smallest fluctuations in the economic, social and political climates. This begs the questions: Why is Pattaya, Thailand so different? Why is this market so resilient? ...
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Testimonials
Read the Testimonials Iguana Group has received from Ross-Tara Co. Ltd., Obelisk International and Uni-Serv Co. Ltd., all well established and known in the Real Estate and Investment Market.
Obelisk International
We choose to collaborate with Iguana Group on the Pattaya Heights project for Obelisk International's first project in the Thailand market. The extensive experience ...
Uni-Serv Company LTD.
We at Uni-Serv Company Ltd. have been partnering Iguana Group within the Pattaya Real Estate ...
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