By Andrew Batt:
Serenity – Wong Amat, the latest development from the award-winning and prolific Nova Group, has seen sales of 10 percent is its first week of presales – underlining the popularity of property in Pattaya.
The eight-storey project, dubbed ‘The 8th Wonder of the Modern World’ in its marketing, boasts 153 studio, one- and two-bedroom units and is situated 200 metres from the beach.
Mark Bowling, Senior Sales Manager for Colliers’ office in Pattaya, told DDProperty.com: “I believe the reason these units are selling well is because of the location in Wong Amat, which is usually regarded as a high end area of Pattaya and holds a certain kudos for Thai people who would not normally buy in the resort.”
Commenting on the prices, which start at THB 45,000 per sqm, Bowling added: “Not only are the square metre prices extremely enticing, but combined with cleverly thought out unit layouts it’s possible to purchase a studio of just 21 sqm or a two-bedroom unit of 43 sqm – perfect for weekend breaks or short holiday.”
Pattaya has been a favourite for overseas property buyers and investors for many years, but it has recently witnessed an explosion of interest from local Thai buyers.
Bowling said: “The growing middle classes from Bangkok are also considering purchasing into this type of inexpensive development to provide a retreat should flooding occur in and around the nation’s capital in future”.
He concluded: “Investors also realise that with these compact units, close to Wong Amat beach offer a huge potential for short term rentals and will provide attractive rental yields well exceeding 10 percent.”
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