From Bangkok Property Investment we take a look at Rayong the name of the capital city of Rayong Province, Thailand which is located on the country’s eastern coast and is close to the popular tourist city of Pattaya.
What is nice about Rayong is that it is close enough to Pattaya so that you can enjoy its attractions but far enough away so that you can enjoy beaches without the crowd.
The main industry in Rayong is fishing so you can bet that you will taste some of the freshest seafood Thailand has to offer in this area.
Another popular aspect of Rayong is that you can hop on a boat and in a short time visit the popular tourist islands of Koh Samet, Koh Kodi, and Koh Mun. Koh Samet is probably one of the most favorite resort islands for foreign tourists to stay. Not everyone likes Pattaya and Hua Hin preferring the peaceful environment of a secluded beach community instead. Thus, Rayong has been experiencing some exciting property growth over the last 2-3 years.
There is a mixture of both Thai and foreign investors involved in Rayong development projects. It is estimated that 65% are Thai nationals and the remainder are foreign. The infrastructure in Rayong is modern because of the industrial properties with roughly 20 tenants occupying those. Traditionally, many developers placed emphasis on industrial properties here because of incentives for the companies occupying them. However, the focus has shifted to residential and holiday living thus drawing names like the American hospitality chain Carlson, Marriott Hotels, and the popular Novotel hotel chain. The Rayong Marriott Hotel is scheduled to open sometime in 2011 which further accentuates the shift from an industrial focus to a resort living theme.
One impressive development is Phuphatara Residence at Mae Pim Beach. This is a large-scale project embarked upon by Knight Frank Chartered (Thailand), Ltd. It covers an area of 58 rai and is 480 meters in length (a rai is a unit of land measure in Thailand that is 40m by 40m in area). They offer beachfront and beach pool villas and condominiums in a setting with beautiful beach as well as sea views. Mae Pim Beach is a secluded yet popular beach area in Rayong with white sand beaches and several restaurants. The beach is popular among Thai families even though it is sort of a well-kept secret.
Competition for property market share in this region is mostly focused between Pattaya, Hua Hin, and Rayong. However, it is reported that property prices in Rayong tend to be 20-25% lower than Pattaya and 25-30% lower than Hua Hin. At the same time, it is also reported that resale yields tend to be lower. There are also several developments that did not fare too well and the result is abandoned buildings with little or no maintenance.
Property in Rayong is available in a variety of price ranges. Even though properties here are less expensive than nearby resort areas, you can find still find them in every price class from starter to luxury. For example, the Sea Breeze Residence, also at Mae Pim Beach, offers sea view houses designed within a community only 200 meters from the beach with prices starting at an affordable 4.8 million Thai Baht. In the luxury price range, Knight Frank Chartered offers 3-bedroom beachfront villas between 40 and 45 million Thai Baht and 3-bedroom beach pool villas for about 17.1 million Thai Baht.
Residents of Rayong are excited to see their community expand at such an exciting pace. More development means increased economic opportunities for those living and working here. One thing about Rayong is that many of the locals can be hired to provide maid and gardening services. Plus, it is reported that if you are able to buy land, there is a good availability of economical builders in the area. Contact a property agent today and check out all of the opportunities this gem of a seashore paradise has to offer.
