Houses are popular with families. Many are in gated communities, with a shared pool and security guards manning the entrance gate. The quality of property in many areas of Pattaya and Rayong such as Wongamat, Naklua, Jomtien and Sattahip is of a very high quality and on par with abodes in your native country.
Condominiums are proving to be a popular rental choice with expats, because most are likely to be furnished and many are in the best areas in town. Be sure to check out online listings and Thai real estate forums for the range of options available. Lease agreements are usually for 12 months and require one month rent in advance and at least two months deposit.
The major difference of course, is the price. Whereas house prices in Europe, America and Australia are perpetually high and rising, Thailand prices, for many westerners, are more than reasonable. The favorable exchange rate combined with the lower price of land results in the ability of many individuals and families to afford a handsome property, in a very attractive area.
The right to buy property in Thailand is a confusing prospect that requires a lot of research. Basically, foreign nationals may own:
· A unit in a registered Condominium.
· A building distinct from its land.
· Registered leasehold of up to 30 years for all types of titled land or buildings.
Foreign nationals may not own:
· Freehold land.
· More than 49% of the shares in a Thai company that owns freehold land.
Mark Bowling is the Associate Director at Colliers International in Pattaya and has over years 8 experience dealing with real estate in Thailand.
“You will be delighted to discover a peaceful living environment in one of the many western style housing developments or stunning condominiums along the coastline of the Eastern Seaboard. Most people relocating to the area for work initially tend to rent a fully furnished house or condominium, however many others often choose to buy a property even after their contract has finished.
The quality of housing is very good and comparable to any Western country; many of the developers are European themselves and know what people expect. As a family moving into the area for the first time I would suggest considering a property in a housing estate rather than a standalone property. There, you will find other families such as your own, giving your children the chance to make new friends.”