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Pattaya Market on the Rebound?

Mar 01, 2016

  Is the Pattaya property market set to rebound this year? According to a recent report by Pattaya One there are as many as 20 new condominium developments schedule to be completed in Pattaya and Jomtien by the end of the year. While this may not be a clear indication that the market is rebounding it is a good sign. Especially since a few condominium projects were delayed or put on hold last year. During the property downturn in Pattaya, many real estate companies decided to focus on other buyers with Thai, Chinese and Indian investors being targeted.   Pattaya One also noted that several developers believe these efforts are starting to pay dividends and have begun launching and building new projects in anticipation of greater demand. In addition to the projects expected to come on to the market in 2016, a number of other projects will be completed in both 2017 and 2018. According to the story, developers are embracing more ambitious design concepts that are equipped with innovative features to entice buyers to purchase properties in the still recovering market. Several of the new projects that are planned include resort-style hotels, family entertainment venues and retail shops in addition to the residences. Experts have predicted that Thailand will become a regional transport hub and this could boost the demand for houses, condominiums and commercial real estate throughout Thailand including in Pattaya and nearby Rayong where several international companies are based. Three new construction projects planned by the Thai government could also help lift the residential and commercial property sectors in Pattaya, Jomtien and Chonburi. The new infrastructure projects include a new ferry pier to be built for a Pattaya to Pranburi route, a motorway connecting Pattaya to Rayong and a high-speed train line between Bangkok and Rayong. If you are thinking of buying a property in the near future or just have some questions about the market in Pattaya please stop by one of our offices and talk to one of our sales staff.   216/62 Moo 10 (Soi 13) Soi Diana Nongprue Banglamung Chonburi Pattaya City, 20150 Tel./Fax.+66/(0)38 421 580             519/163-164 Moo 6 Soi Siam Country Club Nongprue Banglamung Chonburi Pattaya City, 20150 Tel./Fax.+66/(0)38 190 925-6         +66 (0) 38-421-580 Office +66 081-269-0742 Mobile Kevin Mattson (Managing Director)-English     +66 086-571-4737 Mobile Rujira Emkhla (Tarm)-Thai   You can also email us at info@coastalrealestatepattaya.com

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Buying Off Plan vs. Completed

Aug 01, 2016

Clients often ask if it is better to buy a condo off plan or one that is completed. When answering this question we first try to figure out what their needs are and why they are buying the condo in the first place. Both options come with benefits and draw backs, and a lot will depend on the buyer’s risk preference and what they are buying the condo for. If they are looking for a place to live right away obviously off plan is not for them, unless the development is just about finished and then they won’t be getting the lowest possible price. If the buyer is not in a hurry to move in and looking for the best price then maybe off plan is the way to go. Lets look at some of the benefits and drawbacks of buying off plan vs. completed. Purchasing a condo off-plan has the benefits of being able to choose the best units. Usually by the time a building is completed the best available units will have already been sold. The early bird gets the worm, as the old saying goes and the early buyer gets the best units.   One good reason for buying off-plan is to generate a larger capital gain through the appreciation of the unit once the development is completed. This is very attractive for property investors and speculators as the price can increase and provide an excellent return if they are able to sell the unit at the higher price after completion. It is best to buy in to a new project as early as possible and take advantage of pre-launch prices. During this period the developer will still be in the process of obtaining building permits, confirming plans and getting their EIA (Environmental Impact Assessment). Property developers want to start generating income through sales as early as possible, so they will offer buyers pre-launch incentives, usually in the form of large price discounts, guaranteed rental returns, finance options and more. Another advantage of buying off-plan is that payments can be spread over the construction period. For condominiums this can be up to several years. Buying off-plan can give buyers greater input into the design of their property; sometimes with buyers can purchase two adjoining units and create one larger unit. Buyers can also make decisions on décor, furnishings, bathrooms, kitchens and appliances at this early stage. There are always risks involved when buying off plan though and we will briefly look at some of them below. There is always a risk the project might be delayed or not complete at all, which is not a factor if the buyer is purchasing a completed property. Buying off-plan is not for the risk squeamish property buyer. Unless the developer has a show unit or an earlier-completed development, buyers will be unsure of the quality they will get upon completion. If a unit is completed the buyer can see, touch and feel the finished product so they know exactly what they are buying. For property investors who are buying to generate income through rental returns, off-plan properties cannot start producing a rental income until completion. In the case of a condominium this could be two years or more. For this type of buyer, purchasing a completed property will be more suitable as it can start produce income immediately. If you are thinking of buying a condo in the near future please stop by one of our offices and talk to one of our sales staff and let us help you decide which type of purchase will best suit your needs.   216/62 Moo 10 (Soi 13) Soi Diana Nongprue Banglamung Chonburi Pattaya City, 20150 Tel./Fax.+66/(0)38 421 580             519/163-164 Moo 6 Soi Siam Country Club Nongprue Banglamung Chonburi Pattaya City, 20150 Tel./Fax.+66/(0)38 190 925-6         +66 (0) 38-421-580 Office +66 081-269-0742 Mobile Kevin Mattson (Managing Director)-English     +66 086-571-4737 Mobile Rujira Emkhla (Tarm)-Thai   You can also email us at info@coastalrealestatepattaya.com

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Pattaya Condo Market Forecast Report

Feb 05, 2016

According to recent research conducted by Colliers International the main concern for the Pattaya condo market for the remainder of 2015 will be “The unit transfer period and the number of unsold units”   Some of the factors contributing to the concerns include: The low number of units expected to be completed by the end of the year. This is a factor because some developers may postpone or delay their completion dates. Thailand’s economic situation and some other factors directly affected developers’ confidence. (Another major problem is too much supply in the market and this is affecting the confidence of buyers). Russians buyers and Thai speculators may not transfer their units when the projects are completed. (The weakening Russian Ruble is the main issue directly affecting Russian buyers). Anyone familiar with the Pattaya condo market has been keenly aware that there has been an oversupply of condos in the area for a while. This factor has only been exasperated by what seemed to be the launch of a new project every week over the past few years.        Also, the decreasing number of foreign tourists in Pattaya, especially Russians, who are the main buyers in the condominium market, is a main reason for the condominium market slowdown. The Chinese Market On a positive note some new Chinese developers are scheduled to launch new condominium projects in Pattaya and especially in Jomtien and Na Jomtien. The number of Chinese tourists has continuously increased in the past one to two years, but the Chinese are still not the main buyers of Pattaya condominium market. Coastal Real Estate has added multiple Chinese agents over the past year to help accommodate the Chinese buyers. Pratumnak Pratumnak has the highest prices in the Pattaya market, as many luxury and high-level condominium projects were launched in the area in 2014 and during the first half of 2015. In addition, some condominium projects in the area also increased their selling prices by around 5 - 10% in the past few months. Some Scandinavian developers still continue to launch small condominium projects in the Pratumnak area. Jomtien There are many lower priced condominium projects in the Jomtien area and some are a bit far from the beach, so the average price in the Jomtien area was the lowest in the Pattaya market. Jomtien has also been one of the best locations for condominium development during the past few years after the official opening of Jomtien Sai 2 Road. This has lead to the availability of many plots of land, which are lower in price than in other locations. Although there have been many condominiums selling at more than 100,000 Baht per square meter launched in the Na Jomtien area over the past few months, raising the average price in the Na Jomtien area more than in the past few quarters. Promising Outlook All is not doom and gloom in the Pattaya market. Completed and planned infrastructure development projects in Pattaya will be a new factor for the property market in the future. The new ferry pier for the Pattaya – Pranburi route, a Pattaya – Map Ta Phut motorway and a high-speed train line from Bangkok to Rayong, are three projects that will probably be started next year. They will all help Pattaya grow in the future. If you have any questions or concerns about the Pattaya real estate market please do not hesitate to contact one of our offices.   216/62 Moo 10 (Soi 13) Soi Diana Nongprue Banglamung Chonburi Pattaya City, 20150 Tel./Fax.+66/(0)38 421 580             519/163-164 Moo 6 Soi Siam Country Club Nongprue Banglamung Chonburi Pattaya City, 20150 Tel./Fax.+66/(0)38 190 925-6         +66 (0) 38-421-580 Office +66 081-269-0742 Mobile Kevin Mattson (Managing Director)-English     +66 086-571-4737 Mobile Rujira Emkhla (Tarm)-Thai   You can also email us at info@coastalrealestatepattaya.com

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Why Buy Property in Bang Saray?

Feb 07, 2016

  A little more than ninety minutes’ drive from Suvarnabhumi International airport in Bangkok, Bang Saray is a quiet fishing village situated on Thailand's Eastern seaboard. It is just south of Pattaya and Jomtien. There was a time when Pattaya City was also a quiet village. Those who have resided or visited here for some years will have undoubtedly noticed the differences. It has spread out in all directions with high-rise buildings dotting the coastline and housing developments popping up in East Pattaya, gradually working outwards into Huay Yai. It is becoming apparent that Pattaya is running out of space to expand. Therefore, Na-Jomtien and Bang Saray are the next desirable places for tourists and residents alike. Bang Saray is famous for its golfing scene. There are 20 of the top PGA courses in Thailand within an hours’ drive from Bang Saray.  In addition, there is a highly acclaimed international school in the vicinity. St. Andrews International School Green Valley, teachers,  students and parents celebrated being awarded the top award - Gold standard by a team of UK inspectors, which makes St.  Andrews the first and only school to achieve this in Pattaya and the entire Eastern Seaboard (Pattaya Mail – 26thJune 2015).  With its beautiful coastline and sandy beaches fringed with tropical trees, Bang Saray is already a popular place for local Thai  people  and those coming from Bangkok for long weekends away from the city. It is fast becoming a hotspot for expats and tourists  who wish to escape the hustle and bustle of the city. There are already some excellent seafood restaurants and cafes in the area  and other businesses keep popping up due to Bang Saray’s increasing popularity.   Bang Saray is located just 16 kilometres south of Pattaya City with easy access via the Sukhumvit highway. Pattaya offers a wealth of attractions and amenities to satisfy the most demanding appetites. With a range of international dining options and 5 star Hotels  to choose from, Pattaya is also renowned for its exciting night life and a superb choice of bars and restaurants.  Pristine beaches, great food, a huge range of shops, restaurants and markets all with easy access to the regions’ many attractions; this is what makes Bang Saray the ideal residence, holiday home or investment opportunity. Now is the perfect time to invest in property or land in this area.

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Jomtien Beach Revamp

Feb 05, 2016

Jomtien Beach is approximately 6 km of sandy beach located about 2 km from South Pattaya and 4 km from Pattaya City. It has been a popular place for those who enjoy tranquillity and would like to escape from the hustle and bustle of the entertainment area. Despite the fact that property development of high-rise condo, hotels and resorts is increasing in this area, Jomtien Beach is still peaceful and remains favourable among the locals, people living in Bangkok, family travellers and retired expats.  Its sandy beach is lined with tropical trees which provide shade for those who don’t wish to bask in the sun.  There are restaurants and cafes along the beach for visitors to enjoy fresh seafood and drinks while relaxing by  the sea. Leisure activities and water sports are in abundance, such as banana boat rides, para-sailing, jet-skis and windsurfing.  In the past, the footpaths along the seafront have depreciated from erosion and flooding during the rainy season. This caused the area to be quite uneven as  well as not very attractive for tourists. However, a makeover with no expense spared is now in progress at the popular tourist hotspot. Work started at the  beginning of April this year (2015) and is expected to continue through March 2017. Nong Nooch Landscape & Garden Design Co Ltd have been contracted to  undertake the work and so far, it looks very promising. The project will be divided into four stages running from Dongtan Beach to Na Jomtien.  Despite the ongoing constructions, there are still many visitors to the area and the beach continues to maintain its popularity  among tourists and Thai people alike. The improvement of the region can only help to make Jomtien an even more desirable place to live than it is  already. Coastal Real Estate will revisit in a few months’ time to check on the progress. 

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How to Prepare Your Property for Rentals

Feb 05, 2016

  Many of our clients purchase properties for investment purposes, i.e. to rent out as either a short or long term rental. However, there are significant differences between preparing your property to show for sale and preparing it for rent. It goes without saying that any kind of property should be furnished to make the best use of the given space, the light and the design of the room. More often than not, buyers tend to favour neutral décor and colours so that they are able to picture their own things within the property. When people are looking to buy a home, they want to understand if they will need to do any kind of maintenance work. If they like the property in general but dislike the kitchen or bathroom perhaps they will still go ahead with the purchase and be happy to change the things that they are not happy with.   Most people who wish to rent a property look for one that is furnished. As the furniture is part of the rental package, the landlord should do his utmost to ensure they are of reasonable quality and the meet the expectations of any potential tenant. Landlords who have experience in letting their properties for rent will understand the importance of furnishing the property with the necessary items and probably a few extra decorative items to give it that cosy feeling. If some pictures and ornamental items are not to the tenant’s taste, they can always put them away in a cupboard and display their own. Shabby furnishing with holes in the sofa and unsightly stains on the bedding will not entice the tenant to merrily pay his deposit and submit to a rental contract, either long or short term. In fact, they would more than likely turn on their heel.    If your property is renting at a high price, then you should consider the quality of the furnishings.  It is pointless to pay a substantial amount of money for a high class property then fill it with low-cost and scruffy furniture. It should be  stylish and comfortable. Not necessarily very expensive, but of good quality.  Potential tenants don’t just look at the property and its contents. They take other things into consideration, such as the locality and  where it is situated in relation to public transportation, convenience stores and possibly their place of work. If the property you wish to let  to a tenant is a house, then you should make sure the outside is well-kept and the garden (assuming there is one) is not overgrown as  this will appear like the property has not been lived in nor maintained for some time and will undoubtedly deter any prospective tenant  before they even view the interior.   For a number of tenants today, especially those with a corporate background, renting the furnishings in a property are just as important  as the property itself. Some tenants have a careers and lifestyles that make renting a property much more convenient than buying for  themselves. However, they still look for that same level of comfort and style as they would in their own home.  How you present your property for rent will affect how quickly you find a tenant for it and also whether the tenant stays long term and  considers renewing or extending their rental contract. So give your presentation some considerable thought before snapping your  photos and sending it to every agent in town and hoping to get lucky!

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Retiring in Pattaya Thailand

Feb 05, 2016

Fulfilment, well-being and love are always values that everyone looks to achieve in life. We can benefit from the individual fulfilment in various countries so one needs to decide what is the main thing they seek from their retirement. The ages of retirement varies from nation to nation and people need to find courage to uproot from their homeland and begin their new life in a paradisal place such as Pattaya, Thailand. There are a plethora of choices for those people who still desire to live abroad, however, the key elements in making the right decision are the average cost of living and the weather. Retiring in Pattaya, Thailand is a great option because of many factors. With a fast developing infrastructure and an international airport that is around 90 minutes away as well as a great choice of residential developments to choose from, you can easily make Pattaya your home. Whether you desire to be in the heart of the city with everything at your fingertips, or in the east part of Pattaya and Jomtien, there is certain to be a property to suit your needs. Pattaya has it all, besides the sun and the beach, there are shopping malls, supermarkets with a wide range of international food, hospitals, tourist attractions, fine dining and night-life. Many have underestimated the richness and quality of life that is possible in Thailand.  Some may even think that it is a poor country. However, this is not the case. If you choose to retire in Pattaya  Thailand, you will be able to see your dreams come true and the benefits of living here.  Thailand is a health haven with medical practitioners and plastic surgeons that have been internationally trained.  There are international hospitals that are ready to look after your well-being and many ex-pats are coming to Thailand  to experience surgery and medical procedures of all kinds, yet with much more affordability.   Thailand is a country of various unmistakable qualities that are suitable for making everyone feel at home. Shopping  malls and retail outlets boasting brand name stores are within your grasp. Eateries with menus to satisfy all  nationalities, yet most people love the aroma and flavour of authentic Thai food.  With a vast number of restaurants and street vendors, Thai food is abundant as well as nutritious and at a very low  price. Cafes, restaurants and bistros have sprung up everywhere throughout Pattaya City and Jomtien, so whatever  your taste buds desire, Pattaya has it all. Multi-storey shopping malls are plentiful and cater for the most scrupulous  of buyers. Most local shops and retail stores are open until late so there is quite enough time to go relax on the beach  then do your shopping late evening. The climate in Thailand is tropical, apart from the rainy season, you will get mostly sunny weather. The local Thai people are somewhat friendly and always greet you with a smile. Of course, there are other countries that compete with Thailand for a place to go to enjoy your retirement, yet for general security, relaxation, warm weather and living standards Thailand checks all the boxes. Thailand is the place where you money goes a lot further. You may enjoy the comforts of a leisurely lifestyle in a country where the average cost of living is cheaper than back home. There are inexpensive commodities such as property, food, gasoline, dining out, entertainment plus much more. If you are considering your future retirement abroad, then Pattaya Thailand is a place you should give some serious thought. Coastal Real Estate Pattaya can help you to find your dream home and start a new adventure in a tropical paradise.  

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Advantages of Buying a Pre-sale Condo in Thailand

Feb 01, 2016

As a foreigner, if you want to purchase property in Thailand the easiest option is to buy an apartment. It is possible to buy a house in Thailand, however, there are several regulations that prevent foreigners from buying land directly in their own name. Yet, buying a condo is a simple and legal procedure. Here in Pattaya, Thailand, there are a lot of new condo developments being launched so there is a plethora of condos to choose from. You should take your time to find the most suitable condo from these options. If you have seen all the developments available to you and you still cannot find the perfect property, then you can look into buying a pre-sale apartment. This option has a few buyers’ advantages.  Buying an apartment (for self-occupation or for rent) depends on how much time you have and what your long-term investment  strategy is, you have to consider the purchase of apartments that are not yet built.  The benefits of purchasing a pre-sale apartment can give you the following:  Lower Net Cost  One of the biggest advantages of buying a pre-sale apartment is that you can save a lot of money. Upon completion, the apartment  prices will rise. They gradually increase in value during construction and then they reach their premium once the condo development  has construction has finished. Buying in the pre-sale condo phase, allows you to use a variety of promotions and sometimes you  can buy two adjacent units and combine them to make one.  If you want to buy a lot of condo properties to become a landlord and you can have the patience to wait until the apartments have  been completed, it will save you a very considerable amount of money if you buy pre-sale. If you wait until after construction of a  project development has finished before you try to buy an entire floor, it will be much more expensive. You will, of course, need  some capital for your initial investment in pre-sale property, in order for you to pay for the condos to be built. But most developers  offer very attractive payment plans and once you start to rent the property to tenants, the return on investment will be multiplied. Custom Design If you really want to buy an apartments for yourself to live in, but you have not quite found the home of your dreams, the pre-sale option offers you more flexibility. As a buyer, you can customize the apartment to perfectly suit your tastes. Few people can say, "I love the layout of this condo, but I want to choose my own bathroom tiles,” etc. If you want to replace or change something to suit your own choice, you can request these things before the condo has been built and finished. Payments  Developers of pre-sale projects usually offer competitive payment plans and many are tailored to suit the buyer’s requirements. So, not only are you able to purchase property at an affordable price, but also pay over a period of time. Typically, developers are eager to obtain sales contracts at this stage, therefore allowing you to pay in installments, instead of paying a lump sum at one time.  Low Maintenance - Low Maintenance Costs  Like a car, you do not buy a new apartment as often as you buy a new pair of shoes, but things do have wear and tear. If you buy  a house  or apartment and you don’t live in it for some time, the house may need some renovation before you can rent it to  tenants. Old buildings  have old structure and are often damaged by the wind and rain. The biggest advantage of buying a pre-  sale property is that you do not  need to consider renovation or repairs before you start to make money. The building is brand  new with modern structure and fittings, so the only thing you need to think about is becoming a landlord and getting some of  your money back.  In Thailand there are many pre-sale apartments available there are some promising new developments. Contact  us at Coastal Real Estate Pattaya to find out what properties are up and coming in Thailand. 

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Common Ways to Make Money in Real Estate

Feb 01, 2016

Investing in real estate means more than one thing. Please read on and you will learn of the three most common methods of prospering in property investment. The Sale and Purchase of Your Residential Home: The most common method of investment in real estate is to buy a condo or a house that you desire to live in and call it your own home. Once you no longer need the property or you do not want to live there, you can sell the property. But it’s not just about selling it on because if the property is very valuable and you manage to obtain a high price for it, technically the money will be returned to you, once all taxes and transfers or any outstanding mortgage payments are made. Real estate market changes along with other economic factors, so when you have a self-occupied property, you try to sell the property at a higher price than what you paid for, this means that you earn a return on your investment. Again, this is a property investment for those who do not want to rent a home for themselves to reside in. If you just rent a property then all your money goes to the landlord of the property and nothing comes back to you. So, this is not an option for property investment.  Buy a Property to Rent to Others:  A more effective way to get a return on your investment in real estate is purchasing a property that you rent out to other people. This  means that you need to find the right property that is attractive to people who want to rent. We at Coastal Real Estate can advise you on  the best properties that are very popular for renting. This is a similar type of real estate investment as above because the property will  still belong to you until such time that you sell it. The selling price and value of the property will hopefully increase, hence you having a  return on your investment. Meanwhile, when the rental income that you collect should be more than sufficient to pay any mortgage or  finance on the property and provide a little extra revenue per month for the homeowner. This is a faster and indeed a more effective way  to earn rewards than that of the self-occupied real estate investment option. However, there is an even higher return method, which  allows us to move onto the next type of investment.  Buy a Property to Flip and Sell:  The fastest way to get a return on investment in real estate, is the rapid sale where the sale price will far exceed the purchase price. The  method is to invest in a property in a great location that requires some repair. Property orientation is essential, but not everyone has the  time to look for a good-priced property in a great position and then hire people to carry out property renovations. If you are able to do it,  we believe you have the opportunity to gain high returns and quite quickly.    Please note that investment in real estate requires a lot of upfront capital, but a large number of real estate  purchase can be a great way to get more return on your money.  Generally, those who are eager to sell real their property at great prices, you as an investor can purchase with preferential terms. If you  get a better purchase offer and buy a lot of real estate, then you can follow the market yourself and offer the properties at desirable  prices, sell them on and make a good profit. One popular idea is to buy a whole floor in an apartment building, perhaps you can live in  one apartment, and then when the value increases, you may sell the apartments and receive a handsome return on investment.