This article was originally published here and is being posted here with permission.

National holiday era, tourism real estate (that is, different from the traditional residential, combining tourism, leisure, vacation, living in one project) began to occupy the Thai real estate market with lightning speed, especially tourism cities such as Pattaya is the most popular.

There is nothing more magical and inspiring than living, working or holidaying in a destination that combines all-year-round sundrenched climates, beaches, friendly and smiling faces and lots of investment potential.

Economy

Pattaya is located in the Bangkok-Rayong Economic Corridor, Thailand's most developed economy, with healthy economic growth, thriving tourism industry, and a real estate industry. The momentum is fierce, and as many as two to three hundred international conferences are held in Pattaya each year. It receives close to 12 million foreign visitors per year. All in all, the tourism economy is very international, with tourists coming from all over the world and not susceptible to the recession of one economy.

Foreign Ownership

Foreign Ownership is the most hassle and stress-free way to buy condos in Pattaya. After which, you can do whatever you desire with your property, such as renting it out to make back money through rental returns, or giving it to someone else as a gift, or even to resell it on to another foreigner or to a Thai-Thai company. Inheritance is also not a problem with these terms, although there are still certain rules for which you must adhere.

Thriving property market

The influx of foreigners to buy a condo in Pattaya has caused the beachfront real estate market to soar. In the Pattaya property market, the main foreign buyers are Europeans. Almost all property advertisements are in both English and Russian, and in recent years, the Chinese have become more and more interested in Pattaya. The vacancy rate of Pattaya houses is extremely low, and properties in good locations at low prices often sell out of their foreigner quotas very quickly.

Company ownership

Purchasing a Pattaya condo with Company Ownership Terms can be a cheap option, especially if you buy off-plan units because the payment plans usually dictate that you pay the last big sum of money only when the property is completely constructed, and only then do you receive the keys for the premises and legal ownership. Company Ownership will cut down on the costs, as you won’t have to pay any taxes because you are simply changing the company’s director, which means that the Land Department is not involved in the purchase.

Freehold Real Estate Policy

Thai property is freehold, which is enjoyed by foreigners as well, and it is different from the freehold in Europe and America - there is no property holding tax in Thailand. There is no restriction on buying a condo in Pattaya for sale. You can get a real estate license after handing over the property: Thai law stipulates that you have to register the ownership when you hand over the property.