Although launches of condo units increased in Pattaya last year, demand dropped significantly in the fourth quarter due mainly to political turmoil.
Surachet Konghcheep, associate research director at the property consultant Colliers International Thailand, said the protests in Bangkok since last year's fourth quarter had affected the resort's property market.
''Many foreign tourists cancelled their hotel reservations for the Christmas and New Year period,” he said. ''If political issues are not resolved within a few months, Thailand's property market including Pattaya will probably be more affected.”
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