Sansiri seeks to build on rising demand for property in Pattaya

This demand has resulted in increased interest among investors in the city.
In 2016, overall sales growth in the condominium and single-house markets rose as much as 80 per cent from the previous year, with transactions particularly strong for condominiums.
Uthai Uthaisangsuk, senior executive vice president - business development and project development division (high rise), said that the overall market for 2017 should be promising for real estate developers, as the growth trend in Pattaya from 2016 is still gaining momentum. 
The company cites Pattaya’s enduring popularity as a resort city, although it notes that the city’s tourism market has suffered a setback due to a drop in the number of Russian tourists.
“The demand for beachside developments has grown substantially among Thais and foreigners, especially the Chinese whose presence in Pattaya has grown by 31 per cent,” Uthai said.
“The Wong-amat district is coming into focus due to its quiet and tranquil location, with as much as 85 per cent of the total supply sold in the Bt95,000 to Bt120,000 square metre range. The most popular are the one-bedroom units with floor areas of 40 to 55 square metres. This is because these mid-size units can accommodate more people and can more readily fulfil the needs of renters.”
Among Sansiri projects, The Base Central Pattaya on the Pattaya 2 Road quickly racked up 100 per cent sales in 2013. Since the project’s completion in 2016, customers have steadily taken up the transfer of ownership – 66 per cent of Thai owners and 34 per cent of foreign owners. The ratio between owner occupiers and units bought for rent is about 30:70, with a good rental yield of 7 per cent and the resale price appreciating by 15-20 per cent.
Meanwhile, the high-end Baan Plai Had by Sansiri condominium project has made sales of 95 percent of the units, with 80 per cent being Thai customers. The ratio between owner-occupier and units bought for rent is about 60:40. From early this year, Sansiri has included Baan Plai Had by Sansiri and The Base Central Pattaya in its holiday homes campaign to boost demand in the high season. The campaign focuses on condominium projects and ready-to-move-in single-house projects in five resort cities. 
At Baan Plai Had by Sansiri, the promotion features furnished three-bedroom units with sea view for Bt14.99 million. Sansiri says it has received a strong response to its marketing.