Habitat Group Ventures Into Investment Industry
Habitat Group, a known property developer, recently announced that it is focusing on condo development projects as the company’s investment in order to reach out to buyers who are searching for higher yield compared to what bank deposits can offer.
According to Chanin Vanijwongse who is the chief executive, shared that there is need for a different approach when it comes to introducing condos that are located in Pattaya. This is due to the current high competition in the real estate market and the fact that there is still abundance when it comes to properties that are for sale.
Mr. Chanin also added that Pattaya has a lot of potential for a higher growth because of the increase in number of tourists that are flocking in. There is also the expansion by the U-tapao airport and the newly constructed motorway going to Rayong. There is a big challenge when it comes to attracting buyers of condo units to be used as their residence or may serve as a vacation home because the supply is higher than the demand.
In Pattaya alone, there are tens of thousands of units of condominiums that are still listed on the market waiting to be sold.
Habitat aims to continue developing more residential properties because of their aim to get more buyers to invest while the interest rates on bank deposits are still low as well as other investment options.
Last September 3, the company launched Best Western Premier BayPhere Pattaya condominium which is worth 700 million in baht.
All of the project’s units were offered along with a 7 per cent guarantee for return for every year for a period of five years. Another incentive is that owners will be able to stay there for 14 nights within one year.
The project was located on a site in Na Jomtien which is on the beachfront. The building is eight-storey with a total of 174 units in varying sizes from 30 to 33 square meters. The price starts from 3.2 million baht.
If you are looking for condos for sale in Pattaya, now is the time because there is a high supply available.
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