Bangkok is a great city, but a lot of people are investing in properties in Pattaya, a city in the eastern part of Thailand in the Chonburi province. With its lively nightlife and pristine beaches, Pattaya offers the best of both worlds for those who want the convenience of city living while staying close to the beach.
Now, if you’re captivated by the beauty of Pattaya, investing in a condo sale in Jomtien would be a smart choice. Here are some important tips to guide you on your journey.
Understand the Legal Requirements
As a foreigner investing in property in Thailand, you need to understand certain laws first, specifically the Thai Condominium Act. This law governs all condo investments made by foreigners in the country and states that you can invest in a condo in Thailand under your name if that development meets certain criteria.
For instance, at least 51% of all the units in that condo should be owned by Thai nationals, and only 49% should be owned by foreigners. You are not allowed to own land, but you can be the sole owner of a condominium since it’s classified as a different type of property under the laws in Thailand.
Choose the Right Location
Whether you’re buying a condo to live in or as an investment, location can make a huge difference in how much value you get for what you paid. Since Pattaya is a beach community, having direct access to popular areas like Jomtien Beach and Wongamat Beach is a big advantage. These beachfront properties hold more value because they offer fantastic views. So, if you want to rent out your condo when you’re not using it, you can charge more due to the prime location.
Of course, it’s important to consider accessibility when choosing a location, so you’re close to restaurants, shops, and nightlife spots. But you also need to think about noise levels since properties in the city center are usually noisier because of all the nearby establishments. If you’re looking for the best of both worlds, try finding a condo in the Jomtien neighborhood or further north if you don’t mind being a bit farther from the action.
Do Your Due Diligence
Whether you’re investing in a luxury condo or not, it’s very important to do your due diligence before putting your money on a property in Pattaya. For one, you need to do some research about the developer, especially if it meets the foreigner ownership quota. A good track record, adherence to building regulations, and a reliable management team are essential.
You can make things easier by working with a reliable real estate agency like us to help narrow down your options to condos that meet these standards.
Be Clear About the Unit Type You Want
The prices of condos in Pattaya are usually based on three key factors: size, views, and whether the unit is furnished. If you choose a larger unit with multiple bedrooms, expect to pay more. A unit with direct ocean views will likely cost more than one with a city view. Naturally, a fully furnished unit will be more expensive than an unfurnished one.
Be clear about what you want before you start looking, so it’s easier to narrow down your options and avoid wasting time on units that don’t meet your needs.
Think About the Building’s Amenities
Living in a condo means you don’t have the luxury of a front or backyard. The next best thing to enjoying outdoor space is the building’s amenities. Most condominium buildings in Pattaya have a swimming pool, but make sure to check if it’s regularly cleaned and maintained.
Condos with fitness centers or sports facilities offer a great perk for residents since they can work out without paying for an outside gym membership. Also, security should always be a top priority, with 24/7 security to keep everyone safe.
