Property in Pattaya affected by Bangkok protests
Many foreigners cancelled their stay in Pattaya due to the political unrest in Bangkok.
According to research by Colliers International Thailand the whole of Thailand’s property market will be affected if the political unrest is not resolved within a few months.
The survey showed that demand for condos in Pattaya significantly decreased in the last quarter of 2013 when the political turmoil erupted.
The labour shortage is still the major obstacle in the construction industry in Thailand, and is causing delays in completion of some condominium projects, including some in Pattaya.
Many government agencies and property experts are now concerned about oversupply in Pattaya, especially in the Jomtien area.
At TEN Thai Estate Network we are however confident that the political unrest will soon come to an end and that the Thailand property market will stay healthy many years onwards.