Pattaya Condo Market Targeting Thai Buyers
A leading sign of the times for the fortunes of property developers in Thailand's resort destinations is Raimon Lands re-engineering of their pricing and product mix for the domestic market.
The company recently launched the 480 unit Zire Wongamat and has a second project pending. Launch prices of Zire have fallen under the THB50,000 square meter price point and smaller units start at 48 square meters.
It's Bangkok all over again with the phenomenon of the BTS centric high density low cost model moved to the beach.
While the jury remains out on the take up rates for now price sensitive strategies seem to dominate broad real estate strategy at the moment.
Phuket pricing is holding for the moment as the Thai market would rather drive then fly to their second or holiday homes.