Thailand’s Low Season Means Good Things for Investors in a Pattaya Property
Most resort areas have a distinct low and high season. These seasons revolve around the cold weather in tourist’s home countries. But, in looking for bargains on a Pattaya property, the low season is also a good time to shop for a property.
Pattaya developers are desperate to maintain their cash-flows during the annual lull in tourism. This could be the best time to take advantage of the property market, if you know what to look for in a developer.
The Way Pattaya Property Works
Maintaining a healthy cash-flow is the be-all and end-all for property developers. Without this life-blood of continuing investment, their construction process would grind to a halt. Developers, by nature, are constantly playing a game of catch-up.
They need cash to fund the process of design, real estate acquisition and permits, insurance and to cover the initial infrastructure construction costs of future projects. Banking on the future is a way to increase the share prices in a publicly-held development company and ensure survival in a private company.
Pattaya is no different. The fact that they also have to deal with an annual downturn in monthly sales can work in favor of investors in the property market.
What to Look for in a Developer
This may be the best time to look at investing in a Pattaya property. The recent downturn of the ruble and the effect it had on property sales in Pattaya, meant that developers who had over-extended themselves on future projects were caught in a bind.
Now that the property market is picking up again, investors should look for developers who need to finish multiple, partially-completed projects. A healthy market is further insurance for the investor that these projects will be finished. A developer who has several projects in the pipeline is often more willing to bargain on the price of a condo unit.
Choose a developer that is mildly over-extended, but still healthy and growing, to provide you with the best value for your money.