Investing in a House for Rent in Pattaya, Thailand – 4 Important Things to Know
Located on the east coast of the Gulf of Thailand, the vibrant coastal city of Pattaya offers lively beaches, exciting water sports and electrified nightlife and party scene. No wonder, running an accommodation business in Pattaya is certainly profitable. You will just have to consider some points. Here are a few.
1. Where to Buy a Property in Pattaya?
If you buy a property within or in the vicinity of the city center, you will of course be benefited by getting some of the finest entertainment options in Pattaya at your doorsteps, along with topnotch commercial opportunities. However, you will have to pay a higher price given the inflated costs of land in the area.
So, another option is to buy a property on the outside of central Pattaya, e.g. in East Pattaya, Bang Saray, Jomiten, etc. Besides the general lower costs of properties, you will get some other benefits like quieter residential areas, much less traffic and a general drop in the cost of living.
There is still another option and it’s to invest in the new elite lifestyle products that have also moved further south to much more beautiful beaches of its neighborhood along with having graced central Pattaya.
All in all, Pattaya has got there is a location to suit everyone’s desire for Pattaya rentals long term; so, you can find the right one for you.
2. Taking Care of Your Investment
It’s important to consider knowing who will look after your investment and ensure it brings you profit. It is essential to know that your selected property will be taken care of after it is completed and if you are purchasing it as an investment, has a good rental management plan.
3. Legal Advice
Many property buyers in Pattaya are reluctant to hire the service of a legal firm, particularly if they are purchasing the property with foreign freehold status (which enables all foreigners to enjoy direct foreign freehold ownership) from a trusted developer.
However, if a buyer is not buying freehold property from one of the trusted developers in Pattaya, it’s highly advisable to take help of a law firm which is reputable and can speak your own language.
4. Pattaya – An Investment Hotspot
Property market of Pattaya has been pretty buoyant from about the middle of the last decade and is flourishing with several developments selling over 50% of their stock before even they lay a brick in the ground. All in all, Pattaya is considered by many real estate professionals as well as analysts to be one of the safest and most profitable investment hotspots in Thailand.
So, if you want to grab an amazing investment and business opportunity, consider buying and renting a Pattaya house and enjoy the returns.