Published on December 9, 2014
Abstract Thailand’s East coast has been seen to have lucrative potential as an area for real estate development responding the increase of the demand for vacation homes from both Thais and international buyers, especially after the opening of the new Bangkok international airport, Suvanabhumi, and its new surrounding infrastructure. From 2005 to present, condominiums have increased in popularity among developers and buyers within this active region, especially the international buyers, as Thai property ownership regulations currently forbid foreigners to own land (houses) in their own name however 49% of all units in a condominium may be purchased and owned in a foreign in the name of a foreign (non Thai national) name. Pattaya’s condominium market curre ntly has significant offerings in terms of competition however, this report will research the relatively unexplored market segment of residential developments in Pattaya including the fundamental strategy such as a development plan which is feasible in terms of physical and legal; the product strategy that suites the proper target group and current market; investment plan that meet financial criteria, timeline and investor’s expectation. This thesis aims to discover the market and feasibility findings by applying a real- life case study and will transparently asses areas such as the development plan, target groups, product and marketing concepts, financial and investment projections and time schedules. The resources of the research are from literature, journals, market report, internet sources, interviewing, as well as learning from all the professional teams working in the project. The report will be divided into three parts. First is the introduction of the research methodology. Second is the study of general background of Thailand’s East coast. Third is applying market and feasibility study in to the case study project. And finally, conclusion part will provide a project proposal which will be considered as a development guide line further on.