Pattaya is a city that seems to grow every day – and the Pattaya real estate market is booming.
A lot of foreigners are looking for a condo, and apartment or even a house in Pattaya and the prices
Seems to go only 1 way – up!
If you are thinking about buying real estate in Pattaya or Thailand in general, it’s always a good idea to contact a lawyer before you sign a contract or make a payment.
In Pattaya –or Thailand in general it’s easier to buy a condo or an apartment, because in that case all the owners own a part of the land.
Buying land or a house is more difficult, because the Thai law does not allow foreigners to buy land
What you can do is you can make a contract where you rent the land – up to 30 years, and make a note in the contract allowing you to renew the contract after 30 years.
Another method to buy land is to establish a Thai based company, and make the company buy the property and the land.
In any case it’s strongly recommended to use a well established lawyer – do not try to cut corners using tricks from a smart real estate broker.
It can be done – and many foreigners enjoy their holiday or even their retirement in a house or a condo in Pattaya.
If you like to stay in Pattaya investing in real estate might be a great idea – you can use an agency to rent out your real estate when you not stay, and you might end up with profit doing this.
A good advice is to talk with other foreigners living in Pattaya, or you can consider joining the Pattaya Expat club before you decide to buy real estate.
Take a close look at the different offers from the real estate brokers, so you get an idea about the price level and what you get from the money.
Pay attention to how the complex is maintained if you are looking for a condo or apartment. – What about security, and what facilities they offer.