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Pattaya sees 12 per cent increase in condo supply

April 11, 2011

Just over 4,700 condominium units were supplied in Pattaya for 2010, representing a nearly 12-per-cent increase from 2009, according to research by Collier International (Thailand).

Pattaya’s Hottest New Boutique Resort Absolute South Beach is Pattaya’s hottest boutique resort and sister resort to Phuket’s award winning Absolute Bangla Suites.

This was the biggest addition to supply since 1997.

New launches for 2010 were just over 3,420 units. With uptake and prices remaining stable, it would appear that future growth in condominium developments is running in tandem with the growing popularity of the city as a residential resort area.

Pratumnak will be the new darling of the city as developers focus on the natural attraction of the Pratumnak Hill with its position overlooking the city and offering access to Cosy Beach. Over 650 units were launched in this area in the second half of 2010.

A low rise, high specification condotel situated on Prathumnak Hill, the most prestigious real estate location in the area, Absolute South Beach is a lifestyle icon offering a superb variety of high-end apartments ranging from 32 square metres to 75 square metres over only seven floors. Interiors are designed in a contemporary Thai style and offer the greatest amount of natural light, finished to the highest standard all with complete furniture collections, kitchens, ample storage and fully air-conditioned.

Many local developers are now firmly established in the city along with involvement from a number of listed developers.

Pattaya City is appearing on the radar screen of other Bangkok-based developers as the city turns into a world-class destination and future commercial centre, the research said.

Absolute South Beach boasts the most spectacular views from it’s rooftop infinity pool, finished in a stunning black ceramic, and residents can further relax in the members lounge. Absolute’s dedicated concierge service ensures all residents are catered for to the highest standards.

The research separates Pattaya into five zones with different markets.

Wong Amat is the area to the north of Pattaya Nua. It is considered a peaceful,

more upmarket location and is a relatively new area for condominium development.

Pattaya is considered as the city centre. The section of the beach from Central Road south to the harbour runs adjacent to the core of Pattaya’s abundant nightlife area. Many sections of the beach are covered by rented deckchairs run by local beverage vendors during daytime.

Pattaya Nua and Klang are the areas favoured by Asian visitors, especially Chinese and Korean, while the area of South Pattaya is popular among Middle Eastern, South Asian and Russian visitors.

The Pratumnak area covers the main thoroughfare connecting Pattaya and Jomtien Beach. Many upscale restaurants have recently sprung up along Thappraya Road. This area is very popular with Scandinavian and Russian visitors. More exclusive-style accommodation can be found in the hilly part of Pratumnak.

Jomtien beach is about a kilometre south of Pratumnak Hill. The locale is home to many high-rise condominiums, beachfront hotels, shops and restaurants. The area at the beginning of Jomtien is considered busy, while the area located at the end of this beach is considered peaceful and tranquil with less traffic passing through.

Na Jomtien beach is south of Jomtien and does not have a beachfront road and is less developed as a result. The main road connection is the Sukhumvit Road, which is located between 500 to 1,000 metres from the beach, and this area extends to Bang Saray beach in Sattahip district.

Incredible value Leasehold or Freehold Foreign Ownership is available for all apartments and penthouses at Absolute South Beach Resort. A limited number of apartments are available through Absolute’s highly successful fractional ownership initiative. By investing in a fraction of the purchase cost, fractional ownership members own 100% of their holidays for a small percentage of the cost.

The research said that total supply is approximately 44,500 units in Pattaya at the end of the second half of 2010.

In the second half of 2010, nearly 3,000 units were added to the supply. Overall, just over 4,700 units were added in 2010, which represents the largest increase in supply in Pattaya since 1997.

Absolute South Beach Resort is the latest in a highly successful collection of boutique resorts created by Absolute Developments. The property arm of the Absolute World Group, Absolute Developments is renowned for offering customers a slice of luxury in a sub-tropical paradise – at an attractive price.  The Absolute World Group attracts partnerships with world leading brands to deliver heavenly and award winning holiday destinations such as Absolute Nakalay Beach Resort, the renowned Absolute Bangla Suites, the über chic yooPhuket and Absolute Twin Sands and the ultimate boutique getaway The Beach Samui.  Every Absolute development is managed with the same high standard, five-star seamless service that, combined with Absolute’s experienced rental management programme, ensures owners’ investments are not only safeguarded but exceed expectations.

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