The Pattaya Property Market is Poised to Come Roaring Back
The Pattaya property market was one of the casualties of the devaluation of the Russian Ruble in 2014 and 2015. Property developers who had done a very good business in sales with Russian investors were left scrambling as disposable income from that sector of the market dried up.
Thankfully, much-needed transportation infrastructure projects are on the drawing boards, well underway or finished. The infrastructure development could not have come at a better time for Pattaya and have helped re-kindle investment opportunities.
Thai, Chinese and Indian investors have recognized the opportunities and the market is growing. Pattaya’s property developers have received a much-needed shot in the arm and look to be off and running once again.
Pattaya to Become a Transportation Hub
This resurgence is in no small part due to four major transportation projects that the government is pursuing or has already completed.
There are ongoing highway improvements between Bangkok and Pattaya that have eased the commute between the two cities. This is readily apparent on Highway 7, which used to be a bone-rattling stretch of the journey between the two cities. It now promises to be a smooth ride from all indications of the sections that have been completed thus far.
U-Tapao airport, a former military and charter airport close to Pattaya, has also been upgraded. It now welcomes both domestic and international commercial flights.
At the beginning of 2017, a ferry service was inaugurated between Pattaya and Hua Hin. The ferry cuts travel time between the two cities from 5 hours down to an hour and a half.
Finally, there are plans to create a high-speed rail link between Bangkok and Rayong. This will be a major boost to Pattaya as well as all of Chonburi province.
The Time to Invest in Pattaya Properties is Now
The Pattaya market is well on the way to a booming recovery. Savvy investors know that this is the best time to take advantage of the property market. So, what are you waiting for?