By Andrew Batt:
A leading UK-based property website has tipped Pattaya as being “ripe for property investment”.
Nick Marr, Director of HomesGo Fast.com, said: “Pattaya is becoming increasingly popular with overseas buyers who understand the tourist potential of the city. With the city setting bold tourist targets and thousands of new hotel rooms set to open it’s a great time to invest in Pattaya.”
According to figures from Thailand’s Ministry of Tourism and Sports, Pattaya received 8.3 million arrivals in 2010, 93 percent more than in 2009. In the first half of 2011 there were 724,273 Thai and 3,070,635 foreign visitors to Pattaya.
“Tourism in Pattaya still has potential to grow” according to Chonburi Provincial Administration Organisation Chief Executive Vitaya Khunplome. The organisation, which oversees tourism development in Pattaya, has set a target of 10 million international and domestic visitors and THB 100 billion in tourism receipts for Pattaya by 2015.
Recent research released by Sopon Pornchokchai, the President of Thailand’s Association of Real Estate Agents, suggested Pattaya has a stronger and more valuable property industry than any another other city in Thailand.
Get daily property news in Thai and English straight to your Inbox from Thailand’s number one property website. Subscribe today for free.