Baan Plai Haad, a high-end condo project in Pattaya, is officially sold out, according to the project’s developer, Sansiri. The development is located on Wong-amat Beach and was Sansiri’s 1st project in Pattaya. The company believes the success of this project means the market has more room for growth.
“Baan Plai Haad condominium was Sansiri’s first high-end ready-to-move-in project in Pattaya… and is located on a quiet and secluded stretch of beach which is rare in Pattaya. The successful, 100 per cent close of sales, clearly demonstrates the potential of the Pattaya market that can still grow amidst good response,” says Sansiri’s Senior Executive Vice President – Business Development and Project Development Division (High Rise) Uthai Uthaisangsuk in a press release.
The success of the project shows there is strong demand for beachfront condo projects in Pattaya as the market continues to recover. Both Thai customers and foreign buyers were attracted to the Sansiri project. Some buyers were looking to acquire holiday homes while others saw the project as a long-term investment.
“About 60 per cent of the customers look for their own 2nd homes or holiday homes, while about 40 per cent look for long-term investment. About 77 per cent of the customers are Thais with 23 per cent foreigners, comprising of Chinese, Russians and Japanese citizens. This is in tune with the statistics of tourist arrivals in Thailand the majority of whom are Chinese,” says Uthai.
Thailand’s seaside resort provinces continue to draw interest from foreign buyers. Sansiri has several projects in these areas including Baan Mai Khao, The Deck Patong, The Base Uptown and The Base Height Phuket. According to the developer, rental yields for projects in resort locations is very strong at the moment, which is why buyers continue to purchase units in these areas.
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