Due to the political problems in Thailand, the Pattaya condominium market took a real hit and decreased by 60 per cent according to a report that was released by Colliers International Thailand. Around 3,800 units were issued during the first six months which is 605 lower than the amount released during the second half of 2013, the only area that saw an increase was the Jomtien area which saw a rise of 48%.
The political unrest in Thailand has really affected the property market as well as Pattaya city but there are currently 28,200 condominium units being developed that are due for completion in 2014 as well as an additional 18,850 due for completion later on in the year in Jomtien, there is also 4,290 planned for 2015. Due to the large condominium projects that have been recently launched in Jomtien, it has caused a negative effect on the figures in other areas. However, the average figures for Pattaya were still similar to that of previous years. The take-up for the first 6 months of 2014 was around 73% which is a little higher than the six months previously. Read more »