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Pattaya luring more and more Thai developers

the pattaya, thailand property market is growing in popularity and more big developers are expanding their investments in the area, the nation newspaper has reported.

listed developer lpn development is a new name in the resort town market. the company recently launched its first condominium project in pattaya called lumpini condotown north pattaya-sukhumvit, a thb1.2 billion (us$40.13 million) project that will feature 1,500 units with a price tag of thb699,000 (us$23,378) onwards.

“we see strong demand from both residents in pattaya as well as bangkokians, who want to buy a second home,” said opas sripayak, managing director of lpn development.

nc housing is another listed developer who wants to focus more on pattaya market this year. it plans to launch a new project in the second half of this year. last year, the firm just launched the semi-detached house project under the name the green park jomtien.

other developers who have been key players in pattaya market include raimon land and major development from bankok, as well as the pattaya-based developer iguana group.

a real estate agent bangkok citismart has noticed that demand for properties in the area remains strong from both local and overseas homebuyers. since the firm opened its branch in pattaya last year, it managed to sell and rent about 400 units worth a total of thb2.4 billion (us$80.27 million).

meanwhile, international property consultant jones lang lasalle also sees positive signs in pattaya property market and is planing to open a management office here in the second quarter of this year.

source: www.property-report.com