Can foreign nationals buy new homes in Pattaya?

Foreign nationals can buy new homes 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 new home 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 new home in Pattaya?

The cost of a new home in Pattaya ranges from $181,000 to $219,000. The average price per square meter in Pattaya — $2 650. Now we have best offers of new homes in Pattaya.

What are the most popular locations for buying new homes 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 new homes. 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 new homes in Pattaya?

The reasons for investing in new homes 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. New homes in the central areas of Pattaya can have a yield of 6–12%.

Can I earn money by renting a new home in Pattaya?

New homes 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 new home maintenance service. You can also use your new home as a holiday home for 2–4 weeks a year without losing income.

How long can I rent my new home 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 new home in Pattaya?

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

Can foreigners obtain Thai citizenship through a new home purchase in Pattaya?

Permanent residents can apply for citizenship. Thailand citizenship allows you to buy a new home 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.