Can foreign nationals buy condominiums in Pattaya?

Foreign nationals can buy condos in Pattaya, choosing either freehold or leasehold as the form of ownership. Apartment in condominiums can be freehold (fully owned), provided that foreign nationals own no more than 49% of the area in this condominium, or leasehold (rented for long terms). When interested in buying property , the foreign investor has two options: having a condominium on leasehold for 30 years (the term can be renewed twice) or purchasing the property through a limited company.

What is the average cost of a condominium in Pattaya?

The cost of a condo in Pattaya ranges from $54,000 to $21,421,000. The average price per square meter in Pattaya — $2 650. Now we have best offers of condominiums in Pattaya.

What are the most popular locations for buying condominiums in Pattaya?

Pattaya is an all-purpose resort that will appeal to both nightlife lovers and families with children. North Pattaya is a quiet place with a large selection of condominiums (Naklua). A long beach street and a wide selection of hotels, clubs, restaurants and shopping centers are located in Central Pattaya. The combination of relaxation a, the clean sea and entertainment can be found in South Pattaya (Pratamnak and Jomtien).

Why invest in condominiums in Pattaya?

The reasons for investing in condominiums in Pattaya are as follows: Due to an impressive tourist flow in the country and in Pattaya itself, the town’s economy has a huge potential. There is a steady economic growth in many sectors which speaks for a favourable investment climate. Costs of living. Unlike some of Thailand’s most popular tourist destinations which have become as expensive to reside as some established western cities, Pattaya has remained an exceptionally inexpensive place to reside. Return on investment. Due to the high influx of visitors and expats choosing to reside in the city, the demand for rental units has become exceptionally strong. Condominiums in the central areas of Pattaya can have a yield of 6–12%.

Can I earn money by renting a condominium in Pattaya?

Condominiums in Pattaya are in great demand among tourists and buyers. With the year-round tourist season you can have a great rental income. There are many projects with guaranteed returns of 7–10%. Management companies provide full condo maintenance service. You can also use your condominium as a holiday home for 2–4 weeks a year without losing income.

How long can I rent my condominium out in Pattaya?

In Pattaya, the tourist season lasts all year round, as the resort is located in a bay and is protected from strong winds. October through April is the high season without rain and this is when most tourists from around the world arrive. May through September there is the low season, characterised by heavy but short tropical rains.

Can foreigners take out a mortgage to buy a condominium in Pattaya?

Thai banks do not provide mortgage loans for the purchase of a condominium in Pattaya for non-residents. Moreover, foreign nationals can´t get a bank loan for any purpose.

Can foreigners obtain Thai citizenship through a condominium purchase in Pattaya?

Permanent residents can apply for citizenship. Thailand citizenship allows you to buy a condominium in Pattaya, own any business and apply for any kind of job. You can apply for Thai citizenship: residence in Thailand for at least five years; permanent employment; to be married to a citizen of this country; your baby was born in Thailand. Children born to parents with Thai citizenship automatically get citizenship regardless of where they were born. In order to obtain Thai citizenship, you must renounce your current nationality.