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Tips to Buying Condo Properties in Pattaya

February 15, 2012 | Comments: 0 | Views: 208

Buying Pattaya condos now is consistent with investor demographics. Pattaya is on the fashionable eastern seaboard of Thailand, where tourism flourishes and development is still going on, despite the financial crisis. Retirement visas are easy to get in Thailand. Financing is still available to foreigners, and there are ways to make profitable purchases that are comparatively inexpensive. Nevertheless, the first contact with condo-related information from Pattaya often means standard ads of modern landscaping, stunning urban architecture and stylish interior design, with luxury amenities and luxury finishing always mentioned. Naturally, these ads are hardly convincing references, if you are after safe investments in Pattaya condos. Instead, some basic information will help you buy safe properties that are valuable investments.

The Pattaya condo market has some basic pluses. Pattaya thrives because it is indeed built around the concept of affordable luxury.You will find penthouses and condos that supply conditions fully compatible with those offered by certified 5 and 6-starred hotels anywhere around the world. Most branded condo buildings here offer smallish but well appointed studios or 2-bedded rooms at prices that are lower than in Europe or the States, because of much cheaper raw materials and work hand. Communal facilities are often classy here. Hotel-like services peak this in the case of condotels.

The Pattaya condo market also has some basic minuses. Thailand does not employ unified construction standards. You want to buy valuable estate in a place where only the most serious developers avoid illegal (often Cambodian) work hand, which is often inexperienced, as well as sub-sub-contracting. Plumbing and electricity are often unsatisfactory. Bloggers state that electrocution in the shower of an elegant Thai condo is not at all rare. Don't look so much for foreign versus Thai developers, but for developers who are specific on importing top branded fixtures and on avoiding entirely to contract out.

For safe investments: check for privately funded developments. The Pattaya condos which make the safest investments are most often privately funded. Look for private funding where the registered capital is equal or greater to the estimated cost of construction. Also, private funding means this capital is not borrowed from banks, so the developer will have control over the construction process.

For profitable and safe investments: buy property under construction. Resale condos could be the safest form of property here, but are also the most expensive one. Resale Pattaya condos almost always sell well over market price. As a rule, quality Pattaya condos in freshly finished buildings are safe but somewhat expensive investments, as well. The most reliable foreign and Thai developers in Pattaya are well-funded serial developers. Competition is intense, and most developers have efficient pricing policies for large numbers of pre-purchases. You will need thorough information to spot the few price reductions available for freshly finished Pattaya condos. More than picking a reliable estate agency, the true deal here means buying in advance directly from a reliable developer. This is what most purchasers do. Some developers will even accept individual improvements on your own condo while at building it. So, if you want to move into Pattaya immediately, rent a comfortable condo and supervise the building of your own.

For luxurious privacy: look for more than the heavily marketed buildings. Pattaya is not branded as another cosmopolitan place but as a place where different lifestyles blend successfully. Top developers here build for different lifestyles. This means you will find quality condo buildings whose developers deliberately avoid all flashy marketing methods. These luxury developers are not low budgeted. Instead, they seek to develop the more secluded community buildings that suit certain categories of expats. Buyers often learn about these places in the central bars and pubs, by word of mouth.

For excellent services: buy property in a condotel building. Condotels are a rather new concept in Pattaya, where the first decade of developments has seen considerable efforts to keep different budgets segregated. All the 4 available projects result from the joint efforts of experienced Pattaya developers and top hotel chains. The hotel chain will assume the services and management of the condos, as well.

In conclusion, you will want to get in touch with top developers only. When you cannot rely on building and safety standards, you need to rely on well-funded developers only. From your point of view, as a potential estate buyer, condo building developers in Pattaya roughly divide into three groups: experienced AND well-funded developers, one-timer AND well-funded developers, and all the others. Your attention should go exclusively to the first two groups. They make up a small and competitive world. There are more than 5 but less than 10 foreign and Thai Pattaya condo developers with remarkable projects undergoing at this moment, and all are approachable directly.

Andrea A. Rosian is a full-time freelance writer. Andrea writes articles for marketing purposes gladly because she is fascinated with Marketing Communication and believes that quality content contributes to a quality online environment.

Source: EzineArticles
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