Stories tagged with housing
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Pattaya's booming market potential
Pattaya is booming, both in tourist arrivals and hotels as well as the property market.
The trend seems to be more for upmarket tourists with many impressive five-star hotels and an excellent infrastructure that includes good transport transport, health and hospitality.
Close to 7 million visitors arrived in 2007, meaning an increase of almost one million visitors every two years for the last five years.
Thai tourists are also prominent in Pattaya, who mainly visited for weekends, and represent about 25 per cent of total visitors.
Russian citizens are in the largest group of foreign tourists to Pattaya with a year on year increase, while visitor arrivals from South Korea, China, and India also climbed significantly.
Russian buyers are also right up there in the property market, followed by the Thai market, the UK and Australia, and then Germany.
The main attraction for property investors is Pattaya's five-star facilities, which include good access to the new airport, international sports and leisure activities, excellent entertainment options and an increasing number of quality hotels.
New hotel projects starting in 2008 will eventually result in a 50 per cent increase in five-star rooms, adding to 2007’s inclusion of the Hilton, Movenpick, and Le Meridien hotels.
Property developers are realizing this and are also on the bandwagon.
More on Pattaya
Posted by: Andrew on 09 Feb 2008, 15:02