Pattaya’s real estate market had its ups and downs in the years before, but recently it seems to be going only upwards. If we look at the current data and the trends, then it is fair to say that the Pattaya property market in 2020 is set for growth.
Here are the top factors that propel the Pattaya property market growth. At the same time, they are unique to this region and are not affected much by what happens in the local property markets in Thailand.
It is a market-driven by foreign property investors
There is no exact number on how big is the percentage of foreign investments in the Pattaya property market so far in 2019. Plus, the year is not over yet. But from the few obscure stats, it’s a quite substantial percentage. And from the look of things, that trend is set to further grow in 2020 as well.
A good part of the foreign investors has already turned a profit on their initial investments and are now searching for other property investment opportunities. Their success has also been a top reason why many other foreign investors also decided to invest. All that adds up to millions of dollars in the Pattaya property market.
Government Invests Millions in Local Infrastructure
Tourism is a top priority for the country, and because of that, the government is investing heavily in local infrastructure. The better the local infrastructure, the higher the real estate is. And if we are to believe the government plans which are already in motion, there is a lot more to come in Pattaya.
Tourism offers a steady growth for the local property market
Tourism growth is directly connected to the property market growth. The current tourism projections suggest excellent growth in 2020, as well. That translates into higher property demand and better ROI for investors. And it is not just the tourist that influence the real estate market. It is also the tourism workforces that grow parallel with the increase in the number of tourists each year.
Interest rates will remain low in 2020 as well, and that’s something that all property market investors like to hear. It is a simple analogy, the lower the interest rates, the higher the ROI will be.
Digital Nomads, Freelancers, and Remote Workers
The gig economy is booming, and more and more US and Europe workers decide to work remotely. Meaning, they get to do their job from basically any place in the world with a solid internet connection.
Pattaya is very often identified as a top destination by many digital nomads and remote workers. The favorable climate, the infrastructure, the cheap internet, the accommodation costs, all that is very appealing to this particular group. The cost of living in Pattaya is considerably lower than living in cities like San Francisco, London, Hong Kong, or other major tech centers.
Each of the factors mentioned here is a rock-solid argument as to why the Pattaya property market will bloom in 2020. Pattaya’s property market growth in 2020 is a sure thing! The only mystery is how massive that growth will be?