Pattaya is one of the biggest cities in Thailand and has attracted a great amount of foreign buyers over the years.
With property prices that are cheaper compared to Bangkok and with direct access to the beach, it’s not strange why many decide to invest here.
The city is the second most popular for foreign visitors after Bangkok and has become one of the favorite spots for retirees and young investors who struggle with expensive property prices at home.
In this article, I explain the different areas and property prices in each area, in Pattaya.
Pattaya’s real estate market
Pattaya has attracted a big portion of Russian investors in the past years, turning it into a meet up point for Russian holiday spenders.
Even if people from Japan, China and Westerners buy property as well, the depreciation of the Russian Ruble has left the property market in a temporary decline.
A combination of an oversupply of mainly low prices condos and Russians who pull out of the market has resulted in 2nd hand condo prices being sold for less compared to newly developed properties.
The fact is:
If you plan to buy a property in a relatively stable market, you need to assure that there’s a strong local market, that is not only relying on foreign buyers.
Even if Bangkok has an oversupply of condos in some areas, local wealthy investors keep up the market prices as they don’t sell when overseas markets get worse, like we’ve seen in Russia recently.
If you plan to buy a property in Pattaya, you might not experience as high price appreciations as in other places, like Bangkok, the coming years.
Do thorough research and hire a real estate agent who knows the local market deepl and where you should invest.
An investment in places like Jomtien might pay off more compared to buying a property in the central parts of Pattaya.
Buying a condo in Pattaya
Condo prices are cheaper compared to the ones you see in Bangkok, making Pattaya an attractive location for foreign buyers.
In comparison to Bangkok, which is located in the midland, most people tend to buy properties in Pattaya to spend more time on the beach and enjoy lower prices.
Retirees see Pattaya as a getaway from the hustle and bustle they will experience in places like Bangkok, simply put, you’ll experience a more relaxed lifestyle with less traffic and live closer to the ocean and nature.
If you’re 50 years or above, you can also apply for a so called retirement visa, which will allow you to stay in Thailand for 10-20 years.
Condo prices in central Pattaya
Prices start at around THB 80,000 per square meter on average, which equals to around USD 2500.
This is a bargain compared to prices in Hong Kong, Singapore and the big cities in China.
I was a bit surprised when one of my old Chinese colleagues grinned, showing me Shanghai property prices that rarely went below RMB 80,000 per square meter (USD 12,000), even in the outskirts.
Buying a 1 or 2 bedroom condo in central Pattaya
If you plan to buy a smaller 1 bedroom condo, you’ll have no problem to find one starting at USD 30,000 – 40,000.
With a higher standard and more space, the starting prices for a 1 bedroom condo increase to around USD 60,000.
A spacious 2 bedroom condo is still relatively cheap and starts at around USD 100,000.
Buying a 2 bedroom condo with a higher standard often starts at USD 130,000, which is still cheap compared to most of the 2 bedroom units in central parts of Bangkok.
Buying a Pratumnak condo
Pratumnak is located on a hill south of central Pattaya, it’s well-known to cater wealthier investors.
Despite that, you can be sure to find a 1 or 2 bedroom condo that cost equally much compared to the central area.
If you want to avoid the bustling nightlife of central Pattaya, enjoying green parks and a beautiful nature, Pratumnak might be your choice.
Even if Pratumnak is more desolate, you’ll often see both local and foreign tourists who enjoy all the attractions that Pratumnak has to offer.
You’ll be sure to find all the amenities you need here, including restaurants, cafés, gyms and running tracks.
Pratumnak condo prices
While you’ll be able to find a smaller 1 bedroom unit that starts at USD 30,000, the prices more often start at USD 40,000 – 50,000.
If you plan to buy a 2 bedroom unit, the price tag will increase to around USD 100,000.
Buying a Jomtien beach condo
Jomtien is one of the newly developed areas and a big portion of new condos is built here.
As developers looked to expand the touristy areas of Pattaya, they decided, not long time ago, to go towards the southern parts, namely Jomtien and Na Jomtien,
Simply speaking, Jomtien has most of the amenities that central Pattaya offers, including cafés, restaurants and green spots.
A big benefit with Jomtien is that it’s “cleaner” compared to the central parts of Pattaya, this goes both for the beach and its reputation.
Even if Pattaya attracts a lot of foreigners and local buyers, the distances are not long and it will take you around 15 minutes going to central Pattaya with a car.
If you want to enjoy a more relaxed lifestyle compared to central parts of Pattaya, with an opportunity to buy a beach house, Jomtien or Na Jomtien might be your best choice.
Condo prices in Jomtien
A 1 bedroom unit in a condo usually starts at USD 30,000 – 40,000.
Add a bedroom and the starting price increases to around USD 80,000 – 90,000.
Pattaya property agents
It’s important that you search for real estate agents that have good customer testimonials from foreigners, confirm that they have a good rating that proves their credibility.
You’ll also need to find a real estate agent that can communicate in English, contact a handful of agents and prepare questions.
Some of the most popular real estate agents in Pattaya are:
- Alan Bolton Property Consultants
- My Pattaya Condo
- Seaboard Properties
- View Talay 6
- Pattaya Property Pro
- Town & Country property
Don’t be afraid to ask for previous testimonials or case studies from previous buyers if you contact them.
Established property prices have recently dropped, mainly due to that Russians pull out from the Pattaya property market.
More Japanese and Chinese buyers target Pattaya, but are still not able to cover the hole left by the Russians.
As the second most popular city in Thailand, and with property prices that are cheaper compared to Bangkok, Pattaya can be a good choice, depending on your needs.
While central Pattaya is more bustling and caters a large amount of foreigners that enjoy the nightlife, you can find properties in more green and calmer areas like Jomtien, Na Jomtien and Pratumnak.