The vast majority of us worry about our financial future and the futures of our family members as well. It is difficult to rely on any kind of government pension because it doesn’t amount to a significant amount of money, and it definitely won’t be enough to keep you in the lifestyle that you have grown accustomed to. But have you ever thought about investing In the property market?
This is why you need to start planning as early as possible for your financial future, and while the stock exchange can fluctuate upwards and downwards, the property market seems to be holding consistently over the past number of decades.
This is the direction in which you should be looking because having property as part of your financial portfolio is a very smart decision indeed. You should look to the Asian region, particularly Thailand, because there are many opportunities for you to take advantage of, like Pattaya condos for sale at very affordable prices.
Reasons To Invest In Pattaya’s Property Market
This is a seaside resort that is growing in popularity year-on-year, and it is the destination for many families as well. If you have never really considered investing in real estate before, then the following are just some of the benefits of investing in the property market in the Pattaya area.
Diversification of your portfolio
Any financial adviser worth his or her salt will always tell you to diversify your financial portfolio to reduce your risks. You can afford to invest all of your savings into one single thing because something may happen that will cause you to lose everything that you have worked hard for up until this point. This is why real estate is incredibly attractive. And you can hold it for a long period of time, or you can flip it quickly and make a quick profit.
You can enjoy passive income
If and when you do decide to buy such a property, then it is likely that you can rent it out for a sum in excess of what you are expected to pay back to your financial institution. This means it you have money left over that you can use to reinvest back into the property or to buy another one.
It is likely to appreciate in value
If you were to look at historical property prices in Thailand, particularly in this area right beside a beautiful beach, then you would find the property has been increasing in value over the past number of decades. This means the likelihood of investing in the property market will go up in value is almost assured, and so this is essential peace of mind that everyone needs when it comes to planning for their financial future.
Present Condition Of Pattaya’s Property Market
Now that you know the benefits of investing in Pattaya’s real estate, it is critical to understand the current state of the market. This will help you to come up with a better understanding of the industry and also to make an informed decision:
Types of property
The real estate here offers plenty of property opportunities. There are affordable apartments and luxurious condominiums as well. One might also opt for villas, townhouses, and property for development. The best part is, at present, the realty sector has been offering affordable solutions to property-seekers.
Key Players Investing In The Property Market
A few dominant players have been ruling the property market in Pattaya. Some of them are the largest developers in the country. Such companies are investing immensely in the city’s infrastructure. From public transportation to shopping malls and new roads, people are not willing to settle for any less.
Ongoing Market Trends
Back a few years, the country’s realty market is characterized by high demand and steady development. A lot of the latest developments are queuing up, especially in the eastern region of Pattaya city. This development is driven by the increasing demand from Chinese investors who are attracted to Pattaya’s favorable climate.
Factors Influencing Pattaya’s Property Prices
A lot of factors impact the property prices in Pattaya, including market demand, property type, and location. A property in an exclusive location like a beachfront area is likely to be expensive in comparison to one located on further islands. Luxurious properties having high-end amenities demand higher prices as compared to budget properties.
Real Estate Market Of Other Cities In Thailand
If you check the property prices in other cities of Thailand, you might find that Pattaya has a really affordable market. CBRE Thailand pointed out that the average rate per square meter for a Bangkok condominium in 2020 was almost USD 4,700 or THB 145,000. On the other hand, its rate in Pattaya was THB 90,000 or USD 2,900.
By investing in the property market that is growing in value, you have the leverage needed to invest in other properties and to build yourself a very nice nest egg for the future. There is always a possibility to sell your property and then take the funds from that and invest it into an even better property that will provide you with a lot more capital.