Habitat Group, led by Mr. Chanin Vanijwongse, Chief Executive Officer, former investor to the developer, decided to locate its new project in Pattaya due to the huge potential for growth of Pattaya tourism, driven by the rising number of tourist arrivals, high occupancy rates throughout the year, and many new infrastructure projects near Pattaya. The new beachfront condominium, Best Western Premier BayPhere Pattaya, is located on a beautiful plot on Na Jomtien beach and managed by the U.S. hotel chain 'Best Western Hotels & Resorts' to run rental management programs for investors.
Mr. Chanin revealed the clear vision of Habitat Group to provide good quality products with attractive returns on investment. Mainly targeting investors, the company understands customer demand for tenants and property management and consequently creates properties with unique packages for investment, including fully-furnished rooms, rental management programs, and facility management and maintenance services.
While many investors regard Pattaya as a market with less potential for property investment than Bangkok due to the high number of remaining properties for sale in Pattaya, in fact no more than 5% of the properties constructed each year in Pattaya are beachfront properties. This limited beachfront land coupled with the unique investment potential makes Best Western Premier BayPhere Pattaya one of the most outstanding projects for investment.
Though Pattaya is a small town, it has high potential for growth. Moreover, its land prices are not overrated like in Bangkok. Investors can expect a high capital gain from beachfront property appreciation. In addition, Pattaya offers an average 80% occupancy rate and gives a higher rental return than Bangkok. In past years, there have been approximately 10 million tourists in Pattaya coming from different countries, including Thailand, Russia, China and several countries in Asia, Europe and the Middle East. The figures are increasing steadily owing to new transportation developments around Pattaya such as the expansion of U-Tapao Airport, Motorway extension to Na Jomtien and Map Ta Phut. These projects hence guarantee constant growth of Pattaya’s tourism industry.
Habitat Group has signed a contract with Best Western Hotels & Resorts, which has a global reputation in hotel management built over 70 years, and created rental management programs for investors with a guarantee of 7% rental income per year for 5 years. After 5 years, the customers will receive 60% of the total rental profit and the asset value will probably increase as well. Owners can benefit from professional 4 to 5 star hotel management providing full rental management and property maintenance services. Owners also enjoy the privilege of free stays up to 14 days per year, including excellent services from the hotel, plus special discounts at restaurants and bars.
The 8-storey condominium with 174 units is developed on a beachfront land plot of 1 Rai 31 Sq.Wa at Na Jomtien 18. The project is valued at 700 million baht. Prices start from 3.2 million baht or 107,000 per square metre. Knight Frank Chartered (Thailand) Co., Ltd., is the sole agent for the project and will launch pre-sales on 3-4 September 2016 at Plaza Athénée Bangkok, A Royal Méridien Hotel (The Gallery I, 3rd floor).
Chanin Vanijwongse, Habitat Group Chief Executive Officer