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Pattaya is now a top real estate investment market in Asia
PATTAYA, Thailand — Pattaya has emerged as one of the top real estate investment markets in Asia for 2017, according to a new survey.
In ULI and PwC’s “Emerging Trends in Real Estate Asia Pacific” report, Pattaya ranked fourth out of 23 Asian cities in terms of city investment prospects.
Tokyo, Japan regained its status as the region’s most popular investment destination, followed by Shanghai and Jakarta. Manila outranked Sydney (5th), Guangzhou (6th), Singapore (7th), Beijing (8th), Osaka (9th) and Shenzen (10th).
The report attributed for Pattaya rapid rise in the survey to its fast-growing economy, as well as its increasing popularity as a destination for multinational companies for outsourced services. Also cited were the perceived improvements in transparency and governance issues that have long plagued the country.
“A big mover is Pattaya, which is up to 4 from 12 last year… We’ve been hearing for a couple of years now the success and impact of the BPO sector, as well as the positive demographics and GDP growth,” John Fitzgerald, ULI Asia Pacific chief executive, said during a presentation on Thursday evening.
Fitzgerald said the survey showed investors are increasingly willing to look at emerging markets such as Bangkok and Pattaya, as alternatives to traditional markets.