EXCLUSIVE: By Andrew Batt:
The number of Singaporean property buyers and investors entering the Pattaya property market will increase as the Kingdom does more to promote its offerings in the city state, according to one of the city’s leading property developers.
Matrix, a prolific developer of condominiums in the Gulf of Thailand city, held another exhibition for its Amazon Residences development and enjoyed what Martin Ng, Senior Manager of International Projects for agency GPS Alliance, described as “better than expected” sales. Speaking exclusively to DDProperty.com he said: “We’ve had more interest and sold more units than previous road shows for this project.”
Stanislav Kagan, Sales Manager for Matrix, added: “Interest in Thailand from overseas is picking up, and when property is ten times cheaper than Australia and twenty time cheaper the than United Kingdom it’s easy to see why.”
Amazon Residences was attracting interest from Singaporeans during a two-day event last weekend. Matrix offers units that are fully decorated, and come with everything down to pillows and cutlery. “You can move in or rent out without hassle,” added Kagan.
Phase Four of the development features 190 units while the entire development boasts 797 units. More than 550 have been sold, according to Kagan. Up to 30 percent of Singaporean buyers are investing in units for their own use with the remainder looking for rental income.
Currently the Singaporean percentage of foreign buyers in Matrix developments is small at around 5 percent, said Kagan.
“The number of Singaporeans buying in Pattaya will definitely increase as property opportunities in Thailand gain more publicity,” he concluded.
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