2022-08-11-莱坊-Pattaya_Condominium_Market_2018,_Thailand_2021_6页_598kb

pattaya condominium market overview may 2021 highlighted a significant downturn due to covid-19. cumulative supply reached 118,026 units, but sales plummeted. from january to may 2021, only 1,032 new units were sold, down 25% from 2020, reflecting a shift in demand. foreign buyers retreated, leaving thailand's own thais from bangkok as the primary purchasers of second homes, yet thiers purchasing power is waning. high inventory levels persist, with jomtien area bearing the brunt of unsold units, while wongamat and north pattaya enjoyed higher sales rates. average prices declined across all view categories: sea view by 9.7%, partial sea view by 13%, and non-seaview by 13.2%. market recovery hinges on tourism rebounding, potentially in 2-3 years, as local economy pressures and development activities slow down. overall, the market faces challenges in returning to normalcy.