Sansiri Public Company Limited completely closed the sales of “Baan Plai Haad” high-end condominium project on Wong-amat beach – Sansiri’s first project in Pattaya that was exceptionally successful with sales topping 2,250 million baht. Sansiri believes this points to more demand for beach-side condominium projects particularly among Chinese customers, adding that Thai and foreign customers are confident in the Sansiri brand, quality and aftersales service. Customers generally look for their own holiday homes or for long-term investment. The faith in the real estate market is also very strong and the demand continues to grow in tandem with the growth in the number of tourist arrivals.
Uthai Uthaisangsuk, senior executive vice president – Business Development and Project Development Division (High Rise) said, Baan Plai Haad condominium was Sansiri’s first high-end ready-to-move-in project in Pattaya which is a first-class project located on a quiet and secluded stretch of beach which is rare in Pattaya. Today marks the successful 100-percent close of sales, clearly demonstrating the potential of the Pattaya market that can still grow amidst good response. About 60 percent of the customers look for their own second homes or holiday homes, while about 40 percent look for long-term investment. About 77 percent of the customers are Thais with 23 percent foreigners, comprising of Chinese, Russians and Japanese citizens. This is in tune with the statistics of tourist arrivals in Thailand the majority of whom are Chinese.
Overall, the real estate markets in other seaside resort provinces in addition to Pattaya, such as Sansiri’s resort condominium projects in Phuket are selling at the rate of about 70 percent and have garnered consistent interest from foreigners who regularly visit to view the projects. The average rental yield in the area is rather good at six to eight percent per year. These projects include Baan Mai Khao luxury resort condominium on Mai Khao Beach, and The Base projects namely The Deck Patong, The Base Uptown and The Base Height Phuket. During the December-January high tourist season, the average rental rates are about 40 to 50 percent higher than the regular rates.