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Pattaya price barrier broken
Thailand Property Report
October 2008
The figure Bt200,000 per sqm has been talked of and
seen as a distant ´goal´ for Pattaya´s growing real estate
market. Many thought this price level would not be reached
this year, but Property Report learnt of recent
transaction that has taken place above this price.
Ocean´s Edge condominium at Krating Bay in Pattaya has
recently transacted one of their penthouse units for over
Bt200,000 per sqm. A first for Pattaya.
The client, a regular visitor to Thailand and one who has
the financial status to purchase in any location and
project in the country, chose Pattaya for its variety and
close proximity to the Bangkok international airport and
Ocean´s Edge for its supreme quality. “They have
customised our off plan penthouse design to the point that
the price per square metre is in excess of Bt200,000,”
Andrew Neely of Ocean´s Edge developers Saraan Group, told
Property Report.
“This is a first for us and a first for Pattaya. The real
estate industry here has expected the Bt200,000 level to
be reached, though I think it´s fair to say it has been
reached quicker than many expected,” added Neely.
Ocean´s Edge condominium, located on Krating Bay, is a
low-rise condominium development offering 28 units in a
variety of sizes and layouts in four buildings of four
storeys each.
Neely further commented, “While we welcome our latest
client to Ocean´s Edge, they have opted for a “bells and
whistles” version, and we still have a number of smaller
off plan designs at market rates.”
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