Real estate market Part1
“Buy low, sell high!” That’s the mantra of every investor (short sellers and derivative managers being notable exceptions). Whereas the concept is simple, the execution isn’t. That’s where the search of opportunities comes in. There are always opportunities to buy low and sell high, but they’re not readily apparent to many. However, the patient and the savvy investor will see them and take advantage of these opportunities. Why Pattaya and why now? Pattaya, like many places around the world, has undergone a housing bubble. This bubble had been driven mostly by Russian buyers who indiscriminately bought anything and everything that was available on the market. In fact, they drove the construction boom that transformed Pattaya’s skyline. The Russian buyers disappeared from the Pattaya’s real estate market just as quickly as they appeared once the Russian currency tumbled. This has led to the housing bubble collapse with existing home prices falling especially precipitously in the upper and mid market. The Pattaya bottom market tends to consist of properties from $15,000 to $50,000. Properties in the mid market cost from $60,000- $200,000, with the upper market properties going for $250,000 or more. The upper market property prices fell by 30-40%, the middle market prices are down 20-35%. The bottom end of the market was unaffected by the housing bubble, so the lower end property prices have remained the same.