Can foreign nationals buy penthouses in Pattaya?

Foreign nationals can buy penthouses 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 penthouse 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 penthouse in Pattaya?

The cost of a penthouse in Pattaya ranges from $632,000 to $676,000. The average price per square meter in Pattaya — $2 650. Now we have best offers of penthouses in Pattaya.

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

The reasons for investing in penthouses 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. Penthouses in the central areas of Pattaya can have a yield of 6–12%.

Can I earn money by renting a penthouse in Pattaya?

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

How long can I rent my penthouse 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 penthouse in Pattaya?

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

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

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