Even with a property market that’s struggling, Habitat Group Co is committed to Pattaya and plans to launch 3 new condo and villa projects in the eastern seaboard city, according to local media reports. The new projects will all be launched this year and are worth THB 2.25 billion.
“Pattaya is the destination for all tourist nationalities, both foreigners and Thais. Compared with Phuket, Samui, Hua Hin or Khao Yai, where there is a low season, Pattaya has lower risks of high empty-room rates,” says Habitat Group Chief Executive Chanin Vanijwongse to the Bangkok Post
The Pattaya tourism market has grown steadily with average occupancy rates of 70-80 per cent being recorded last year. With many major transport projects, including U-Tapao International Airport, under construction, more tourists are expected to visit the region in the future.
Habitat Group’s 1st project in Pattaya was Best Western Premier Bayphere Pattaya, which was launched last year. The company has sold 70 per cent of the 174 units available. The success was enough to convince the developer to launch more projects in Pattaya in this year.
Among the new projects is BluPhere Pattaya, an 8-storey condo with 195 units. The THB 650 million project is located on Na Jomtien Soi 18 and will also be managed by Best Western. Investors will be offered a number of perks including a return guarantee of 7 per cent per year for the first 5 years.
There are also plans for Habitat Group to launch X2 Pattaya Oceanphere, a pool villa project worth more than THB 800 million. The development will be built on Na Jomtien Soi 56 and have 59 units when completed. Unit prices will range from THB 10 to 15 million. The 3rd condo project to be launched by the developer in 2017 will be in the Wong Amat area of Pattaya.
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