Prolific Pattaya property developer Matrix Developments declared itself fairly happy with its venture to Singapore last weekend where it exhibited its City Center Residence development for the first time.
Jery Jeritza, International Sales Director for Matrix Development, said that although sales had stalled since the coup, more customers had been in contact with the developer which gave them a chance to explain the true facts about the current situation.
He told DDproperty.com: “During the last coup they just went silent and cancelled their bookings.
“Pattaya still suffers from misconceptions about what it actually is. It’s a lot different now from even three years ago – and in a much better way,” he added.
Dennis Yong, the Executive Director and Group Chief Executive Officer of Singapore real estate agency GPS Alliance, told DDproperty.com: “We’ve been working with Matrix for almost three years now and they’re always delivering their promises.”
City Center Residences was being showcased in Singapore with prices for a fully-furnished 25 sqm unit starting at S$67,000. The EIA-approved project on Second Road in the Gulf of Thailand City has started construction and will feature 668 units in three eight-storey buildings.
Jeritza added: “You really don’t need to offer guaranteed returns in Pattaya, although we are projecting at least 10 percent yields per annum for this project, but 12 percent is more achievable.
He added his buyers to date have been purchasing for a mix of reasons, including for their own use, for capital appreciation, for rental returns and even as a retirement location.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate email: andrew@propertyguru.com.sg