Persistent Demand Ensures Excellent Potential for Pattaya Condos –
Pattaya, 9th June 2017 – Sansiri Public Company Limited completely closed the sales of “Baan Plai Haad” high-end condominium project on Wong-amat beach – Sansiri’s first project in Pattaya that was exceptionally successful with sales topping 2,250 million baht. Sansiri believes the indication points to very demand for beach-side condominium projects particularly among Chinese customers. It was revealed that Thai and foreign customers are confident in the Sansiri brand, quality and aftersales service. Customers generally look for their own holiday homes or for long-term investment. The faith in the real estate market is also very strong and the demand continues to grow in tandem with the growth in the number of tourist arrivals.
Mr. Uthai Uthaisangsuk, Senior Executive Vice President - Business Development and Project Development Division (High Rise), Sansiri Public Company Limited, said, “‘Baan Plai Haad’ condominium was Sansiri’s first high-end ready-to-move-in project in Pattaya which is a first-class project located on a quiet and secluded stretch of beach which is rare in Pattaya. Today marks the successful 100-percent close of sales, clearly demonstrating the potential of the Pattaya market that can still grow amidst good response. About 60 percent of the customers look for their own second homes or holiday homes, while about 40 percent look for long-term investment. About 77 percent of the customers are Thais with 23 percent foreigners, comprising of Chinese, Russians and Japanese citizens. This is in tune with the statistics of tourist arrivals in Thailand the majority of whom are Chinese.
“The most popular and best-selling room type was the 40-68-square-metre 1-bedroom unit price range at 5-10 million Baht, which was just the right size for use as a resort home. Next highest in demand were the larger 3-bedroom and 2-bedroom and the penthouse priced at an average of 150,000 baht per square metre. The main factor behind the success was the confidence in the Sansiri brand and aftersales service coupled with the quality of continuous care and maintenance of the project. The 100-percent sales of ‘Baan Plai Haad’ clearly demonstrates the potential of the Pattaya market that continues to be in high demand by both Thai and foreign customers who are general buyers as well as investors. Early this year, Sansiri has completed the ownership transfer at ‘THE BASE Central Pattaya’ condominium under ‘THE BASE’ brand in the heart of Pattaya after the project was sold out on the day sales were open. This is another reassuringly positive factor that the beach-side condominium market, especially in the main tourist city like Pattaya is still growing well,” Mr. Uthai said.
Overall, the real estate markets in other seaside resort provinces in addition to Pattaya, such as Sansiri’s resort condominium projects in Phuket are selling at the rate of about 70 percent and have garnered consistent interest from foreigners who regularly visit to view the projects. The average rental yield in the area is rather good at 6-8 percent per year. These projects include “Baan Mai Khao” luxury resort condominium on Mai Khao Beach, and THE BASE projects namely “THE DECK Patong”, “THE BASE Uptown” and “THE BASE Height Phuket”. During the December-January high tourist season, the average rental rates are about 40-50 percent higher than the regular rates.
In the Hua Hin resort condominium market, Sansiri recently closed sales on the 616-unit “Baan Kiang Fah Hua Hin” – the condominium with the best view in Hua Hin worth 1,400 million baht, while “Rain Hua Hin-Cha-am” ready-to-move-in condominium has so far reached 60-percent sales mark. Back in Pattaya, the response from customers has also been very good as previously emphasised.
