27 May '13, 4am

Buy Pattaya, or bye bye Pattaya? #Thailand #Property #Pattaya

May 23, 2013 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share By Andrew Batt : EXCLUSIVE: What does this week’s news of Tulip Group’s decision to pull out of Pattaya’s residential market to focus on standalone hotels mean for the booming property sector in the Gulf of Thailand city? Whilst the company is just one of many who have chosen to develop residential projects in the city over the past four years, their decision to focus on the hospitality sector must have certainly sent shockwaves through the local real estate market. Will buyers continue to flock to the city in search of sun, sea and some seriously cheap property opportunities, or will the growing oversupply and continuing construction lead to the market collapsing, as one industry insider said, “like a pile of cards”. One high-profile developer, who declined to be quoted on the record, told DDprop...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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