Pattaya, Thailand (PressExposure) November 25, 2009 -- Pattaya is one of the original tourist destinations in Thailand and being just a short drive away from the capital city Bangkok makes it a popular weekend getaway and choice for a second holiday home location. After a brief dip in the market early in 2009, it seems that the villa and holiday home sector has taken a turn for the better with a clear rise in the number of construction projects that are taking place in the city.
The turn around is not unexpected as there has been a clear rise in demand for holiday homes and holiday rentals. Thailand Holiday Homes has seen a marked increase for rental periods of one week and longer for the average rental. Confidence is returning to the new build market as investors reinvest their savings into bricks and mortar. The focus on new building projects is definitely in the luxury villa and apartment market. This has seen the greatest increase in bookings and value.
Pattaya sits in the Bay of Bangkok on the east coast of Thailand and just 165 kilometres from the city of Bangkok itself. The estimated population is thought to be approximately 300,000 and does rise to as high as 500,000 with the number of tourists and expats that come to the city. The Pattaya Bay area is one of Asia's largest beach resorts and has a large residential area that is developing to be more and more upmarket with its villa holiday developments. There is no doubt that the cost of a luxury property in Thailand is infinitely less than in some of the other popular hotspots around the world.