By Andrew Batt:
Pattaya property buyers and investors are snapping up non sea view condominiums in greater numbers, according to research from Knight Frank Charterted (Thailand).
Risinee Sarikaputra, Associate Director of Research and Valuation, presented research which showed there are currently approx. 34,060 condominium units in 112 projects in Pattaya, of which 43 percent are classed as being non sea view units. She also revealed that 7,995 units, or 54.30 percent, of the units sold in the first half of 2012 were in non sea view projects.
Risinee noted that smart investors pay attention to off beach, non sea view condominiums due to the lower selling prices and potential capital appreciation and for the buy-to-let opportunities that abound as occupiers look to avoid the traffic in the centre of Pattaya itself.
Knight Frank research noted the selling price of non sea view condominium projects located in off beach locations recorded an average price of THB 43,741 per sqm. Non sea view units located in close proximity to the beach sold at an average price of THB 48,486 per sqm, while city condominiums recorded the highest average selling price of THB 61,630 per sqm.
Risinee added the lowest selling price for an off beach condominium unit was THB 750,000, with a unit close to the beach but without a sea view was around THB 1.2 million. Prices for city centre condominium units start around THB 1.7 million per unit, she concluded.
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