Rental demand for Pattaya condos shifts between overseas and domestic tenants

Rental demand for Pattaya condos shifts between overseas and domestic tenantsRental demand for Pattaya condos from overseas tenants peaked during the high season of last year while an influx of domestic renters has kept the market going during the first quarter of 2022. To learn about this and more, click here to download Dot…August 15, 2022

Rental demand for Pattaya condos shifts between overseas and domestic tenants

Rental demand for Pattaya condos shifts between overseas and domestic tenants

Rental demand for Pattaya condos is clearly based on seasonality

Rental demand for Pattaya condos from overseas tenants peaked during the high season of last year while an influx of domestic renters has kept the market going during the first quarter of 2022. To learn about this and more, click here to download Dot Property Group Chonburi Real Estate Market Update.

Demand from locals rose 22.2 percent between the fourth quarter of 2021 and the first quarter of 2022 which coincides with planning for Songkran and other Thai holidays. On the other hand, overseas interest fell by 18.5 percent over the same period with demand peaking in November and December.

Research from Dot Property Group found there are some small differences in rental demand for Pattaya condos from each demographic. For example, condo rentals between THB10,000-20,000 were most popular among foreigners while locals preferred units with THB5,000-10,000 rents.

However, both groups were overwhelmingly in search of studio and one-bedroom properties in Chonburi. These accounted for roughly 75 percent of all rental inquiries in the province between October 2021 and March 2022.

With travel restrictions easing further, international rental demand for Pattaya condos has been trending upward since February. Promisingly, inquiries in May are nearing a seven-month peak at the time of writing.