Pattaya’s real estate market soars thanks to Chinese and Russian buyers

Real estate in Pattaya, eastern Thailand, is being snapped up like hotcakes thanks to Russian and Chinese buyers, according to leading real estate developer Habitat Group Co. Ltd.

Chief Executive Officer of Habitat Group Chanin Vanichwong revealed today that demand for real estate in Pattaya from both Thai and foreign customers is continually growing, reports Thansettakij.

Demand from the foreign market is only expected to rise in the long term since the Tourism Authority of Thailand (TAT) predicts that 23 million foreign tourists will arrive in Thailand this year, the top 3 destinations being Bangkok, Phuket, and Pattaya.

In Pattaya, 45% of real estate is foreign-owned and 55% is Thai-owned, said Chanin. At Highland Park Pool Villa Pattaya, the first phase of 20 pool villas are now sold out and 20 more properties are now up for sale for between 9.9 million…