Where to invest in rental property in Pattaya

[Piet969 0]

This is a question to expats in Pattaya.

 

Hello, I'm 42 years old - have visited Pattaya for 7 years now, and I want to invest in property in Pattaya the coming 10 years so to build up a rental property portfolio - and ultimately live from rental income in Pattaya. I'm looking to invest in property which is very common and very well suitable to rent out full 12 months.

 

Given this focus - my questions are the following:

1. In what area of Pattaya should I invest to have most chances on long-term / 12 months occupation for a good average rental price (high season + low season) and why ? (Wong Amat - Central Pattaya - Pratumnak Hill - Jomtien) ?

2. What type of property is most comon for permanent rental occupation (studio - 1 bedroom - 2 bedroom) Why ?

3. Would this be a succesful plan (rental property portfolio in Pattaya) ? Why or why not ?

4. Is it easy or hard to find tenants in Pattaya ? How to doit the smart way for long-term tenants ?

5. What is important for me to know (which I don't find on the internet as only insiders know) ?

 

I appreciate all your answers and views...

Edited March 1, 2012 by Piet969

[Montydog 135]

My advice would be to invest in property in your home country where everything, laws, language, ownership, etc, everything and I mean everything would be a lot easier.

The rents will probably be proportionally higher as well so just build up “at home” and live on the profits in Thailand.

[MONKEY01 2]

I would stick to usa or europe to many things may things may go wrong in thailand

[jacko 8,822]

I think that the next trip you do, come to the Expats Club meeting, and ask there. I know a few people who have several properties and live off the income, and seem content.

 

1) Location is important, but the building very. You need a regulated one with a good management team, that keep it clean and maintain it. It may also work better if your properties are located near to each other for ease of supervision.

 

2) Studios, cheaper to buy and rent.

 

3) Success... never a guarantee there. They are building condos like crazy here, you have to wonder will the market be saturated soon. But at the moment, the Russian hoards love the warm climate and are keeping the market buoyant.

 

4)+5) You need to be here and learn for yourself. Don't trust your money to other people, particularly Realtors (Estate agents), who are commission driven. If your plan entails nipping over here, buying a property, renting it, then going home to earn more for another property, think again. All those I have met obviously live here full time.

 

I want to stress that I do not rent out property here, I feel Pattaya/ Thailand is a great place to retire, not to do business as a foreigner. For every condo you can buy in your name, there is one that can be bought in the same building, for a much cheaper price, by a Thai person, and rented out.