News

Ocean Property Reveal COVID-19 Driven  Investment Demand for Holiday Home-Asset Work-from-home driving interest in second homes and holiday

02 Sep 21

The Pattaya market retains its appeal with buyers and even though purchase decisions have been delayed, it's clear there is still strong interest for those with purchasing power for holiday homes and second homes. If the COVID-19 situation eases within this year, Pattaya market is expected to recover gradually and return to normal conditions from 2022 onwards.

Despite the current challenges, sales in Pattaya continue to grow. According to H1/2021 data reported by Colliers Thailand, average sales in a Pattaya condominium sit at 69.20%, an increase of approximately 1.20% on H2/2020. Sales are driven in part by recent limited supply and Pattaya's ongoing development of its infrastructure and appeal.

People have adapted to working from home during the pandemic, and supported by modern and reliable communication technology they are no longer limiting themselves to live in one particular place. They are increasingly shifting to work from anywhere and with this vacation homes or holiday homes are becoming a popular choice for people who are looking for a second home which they can use for both leisure and work purposes, as well as for generating returns in the future.

Consumer behaviour changing as Work From Home trend expected to continue Mr. Napong Paripontpochanapisuti, Managing Director of leading Thai real estate developer Ocean Property Co. Ltd., shared that since the end of 2020, people have spent more time working from home and consumer behaviour has changed significantly during this time.

“COVID-19 has driven people to look for a more flexible lifestyle and increased space for leisure. Social distancing and recent travel restrictions has resulted in a new market direction; holiday homes in Pattaya are becoming a more popular option and are appealing to more people. During the most recent wave of the pandemic, we have seen an increase in buyer interest in “Ocean Portofino Jomtien-Pattaya” and also an increase in domestic sales. Domestic buyers see that Pattaya still retains its tourism potential and appeal, and that it's a destination ideal for second homes. Pattaya offers a lifestyle that can suit everyone, including families, and is conveniently accessible at less than two hours from Bangkok and nearby provinces.

“Considering this new normal, developers are needing to adapt to changes in consumer taste. Potential buyers are looking for second homes where they can stay for longer periods. They need to have space for relaxation as well as comfortable areas for working.”

Large units answer the needs for family second homes
Apart from the current limited supply, size of a condominium unit is also having a major impact on purchasing decisions. According to Colliers Thailand, condominiums that are more than 100sqm in size only account for 1% of the current available supply in Pattaya – a total of 610 units. This is due in large part to new developments focussing on smaller-sized units.

“Many of the high-end buyers that are ready to buy are still looking for large luxury sea view condominiums and one that can support their work needs also. Small-sized units are not meeting the needs for these second home buyers, as many are now considering the use of space for all family members,” shared Mr. Napong.

At “Ocean Portofino Jomtien-Pattaya”, over-size 1 or 2 bedroom units range in size from 80-133 sqm, and have a starting price of 6.9 million baht. These units are targetted to those looking to acquire a second family home. Ocean Portofino Jomtien-Pattaya's strategic location opposite the exit to the newly developed Pattaya-Maptaphut Expanded Motorway No.7, means the area has potential to develop further making these condominiums ideal long-term investments.

Two real demand viewpoints
Two Thai families saw the potential of owning a second home in a tourist destination like Pattaya and purchased at “Ocean Portofino Jomtien-Pattaya”.

Mr. Wuttivech Pibulpanichkarn shared why he and his family decided to buy a second home in Pattaya during the pandemic. “My family and I decided to buy a condominium at “Ocean Portofino Jomtien-Pattaya” at the end of last year. We took a broad overview of Pattaya as a destination and realized that no matter how many times we travel to Pattaya, the city always evolves – it is changing all the time like it is alive.

“The project itself makes us feel relaxed and safe. Being so close to the motorway means it takes us only a few hours from Bangkok to get there and we now travel to Pattaya almost every weekend. The condominium and its surrounds offer a number of suitable lifestyle activities for us, and of course there is the marina. From the very first day, our children have loved the atmosphere and they are very fond of sailing.

“The sea view and activities that can involve all the family, as well as the condominium facilities, were important factors for us deciding to buy here. We consider this condominium more as a family getaway than an investment to make money from. However, it is inevitable that the value of “Ocean Portofino Jomtien-Pattaya” will keep increasing and our asset will grow in value - this is something we are happy to pass on to our children in the future.”

Noting that there are not many units left at “Ocean Portofino Jomtien-Pattaya”, and that it is a truly unique development with adjoining marina, Mr. Wirat Techamongklapiwat bought his first unit in 2019 and recently bought a second one. “I decided to buy here because I consider it to be a long-term asset that can be passed on to my children. I bought one previously and have recently added another unit. Apart from having a marina and good infrastructure, I also have friends here as well so this gives me reason to come and stay here often.”

“Ocean Portofino Jomtien-Pattaya” is a modern 37-storey high rise condominium. Located on a 120-rai of land, it consists of 268 units. It is designed to offer the utmost privacy and comfort as well as 180° views of the sea and marina. Residents can enjoy panoramic views across the Gulf of Thailand and experience the marina lifestyle at the largest marina in Southeast Asia. Combined, these make it an ideal holiday home in Pattaya suitable for the whole family.

More information
- Chat: Click
- Tel. 02-038-5013
- Website: Click

Province *
Country
Purchase objectives *
  For living    For investment
Remark 
 I accept the terms & conditions and privacy policy to receive the news and information regarding the products, services, and promotions from Ocean Property Co., Ltd.

Back
×

Privacy Policy



Purpose of Personal Data Collection

For the company to collect, process or use your personal data for the purposes as follows:

  • Communication and provision of various information relating to products and services of the Company and offer of any projects in which customers may be interested
  • Preparation of marketing plan and analysis, process, development and improvement of products and services of the Company
  • Transmission of information to any third party or business alliance of the Company in relation to products and/or services of the Company

Privacy Policy

This policy shall be used for personal data protection for clients of Ocean Property Company Limited, its affiliated company and/or joint venture company (the "Company") which you provide personal data through online and offline channel such as site visit, website, mobile application, social media (“Platform”), allowing you to search for, visit, use products and services of the Company and/or its partner such as:

  • Residential projects, i.e. condominiums, detached houses, townhouses, commercial buildings and other projects
  • News and promotions of products and services
  • Any operation regarding products and services

Before you use this website, please read the terms and conditions and the Privacy Policy for personal data protection. If you do not accept these terms and conditions and Privacy Policy for personal data protection in this website, we would like you to stop using this website immediately, and your continuing use of website will indicate your consent to the terms and conditions and Privacy Policy for personal data protection of the Company as follows:

1. Definitions

"Personal Data" means personal information that enables an individual to be identified, whether directly or indirectly.

"Cookies" means information that is sent from a website to each visitor’s computer while accessing such website.

The category of the cookies used on our website is set out below.

  • ”Functional Cookies”
    These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.
  • “Performance Cookies”
    These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.
  • “Targeting Cookies (Advertising Cookies)”
    These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
  • “Strictly Necessary Cookies”
    These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information.

2. Personal Data collection

2.1 The Company will collect your Personal Data that the Company received whether directly or indirectly which consists of;

    • Personal data such as name, last name, gender, age, nationality, date of birth, marital status, address, occupation, place of work, postal code, email address, telephone number, credit card, personal income, car that you are driving.
    • Data on your interests such as products and services, hobbies, social networking activities, sports, travelling.
    • Data on your decision whether or not to choose products and services, such as reason of purchase or selection of residence, budget, purpose, other products that are used for comparison, comments and site visit information regarding products and services.
    • Data that specifies your location while using the website. If you enable the GPS system, you consent the Company to collect and process your location information. However, if you would like to conceal this information, you can install programs or turn off GPS on your mobile phone.
    • Information searching behavior on website where the Company will use cookies as a tool to collect data such as:
      • IP address
      • Type of web browser that is used to access
      • Web pages visited
      • Time spent on visiting
      • Websites that refers to the Company `s web site
    • Necessary information to be provided to the Company and the Company is entitled to process such personal data as stipulated by law without consent as follows:
      • Data to be provided for complying law or performance or execution of a contract or other data as stipulated by law. If you do not give your personal data, the Company may not be able to proceed with such action requested by you or as the Company informs you or other consequences pursuant to the applicable law.
      • Data that is necessary for any lawful interest such as the collection of photo from the Company’s activities and etc.
    • Other Personal Data subject to your prior consent

2.2 The Company will collect your Personal Data only as necessary or for the purpose of collection and in accordance with the law. However the Company may collect and anonymise any data.

In case you access to the website or advertisement which are not operated by the Company, the privacy policy on personal data will be governed by the one of that website, for which the Company shall not be held responsible.

2.3 Method of Personal Data Collection

    • through the Company’s channel, e.g. electronic means, documentation, verbally, depending on circumstances etc.; or
    • through channel of the Company’s partner / other service providers, e.g. Facebook, Line, etc., for the purpose of creation of your profile or agent.

2.4 Children

The Company has no intention to collect any Personal Data of a child whose age is less than that stipulated by law (the “Age Limit”). If you are younger than that of the Age Limit, please do not use the service of the Company or give any Personal Data to the Company.

In the event that you are a parent of a child whose age is less than the Age Limit and is aware that your child is giving Personal Data to the Company, please contact the Company and you may request to exercise your right instead.

In the even that you are a child of age that is less than the Age Limit and need to receive services and products of the Company, you are required to have a consent of your parent in place for the provision of your Personal Data.

3. Purpose of collection / use / disclosure of the Personal Data

3.1 To provide service which is requested by you, for example, in case you subscribe for information and promotion, the Company will only store and use basic information such as first name, last name, e-mail address and telephone number for any subsequent communication with you, or in case of an online booking, the Company will store and use information necessary to issue booking documents.

3.2 To improve website performance, create marketing plan, analyze data usage, evaluate the performance of service, improve and develop products and services of the Company.

3.3 To communicate and provide information relating to products and services of the Company and/or its Affiliates, including relating privileges or promotion of the said products or services or any future change concerning the Privacy Policy for personal data protection.

3.4 To comply with contracts to which you are a party or of which the Company uses services, such as to share your location information where the Company uses the location service of a third party.

3.5 To pursue any legal actions, such as to prevent or cease any loss of life or damage to body or health of a person, for educational study or statistics in order to provide an appropriate measure to protect your rights and freedom.

3.6 To serve any other purposes which have been notified at the time of collection of your Personal Data or any other purposes in relation to any of the above purposes.

3.7 The Company will not use or disclose your Personal Data UNLESS it is necessary for the purposes set out above or disclosed to any person in the Company or the parties involved in the contract, as required by law, governmental authority, supervision organization or with your consent.

4. Potential Receivers of Your Personal Data

4.1 The Company, partners of the Company or any employee of relevant companies.

4.2 Agents of the Company who has been authorized to offer and sell the Company’s products and services, including agent or person hired by such person.

4.3 Other persons, including agent or person hired by such person who is arranging in connection with the Company’s products and services, the conduct of the marketing activities, the offer of the Company’s information, the development of the Company’s products and services, e.g. payment method, documentation system, technology, delivery of documents, research, etc.

4.4 Condominium Juristic Person or Developed-Estate Juristic and /or Condominium manager or Developed-estate manager.

4.5 Any governmental authority or supervision organization or any person to which the Company is required to disclose such data whether by laws, regulations or order in relation to the Company or pursuant to the Company’s agreement with any governmental authority or any other person.

5. Security of Information

5.1 The Company uses Secure Socket Layer (SSL), which is a standard security for securing data transmitted over the Internet, including data encryption and firewall. Secured Socket Layer (SSL) is a technology accessing encrypted data to prevent sniffers while the information is being transmitted over the Internet. The data encryption makes sniffers unable to understand the meaning of the information. This technology is also used for confirming the existence of the website.

The Company will regularly update and test its technology to ensure that your Personal Data is safe, secured, and trustworthy. The Company reserves the right to make changes to its security tools if the Company sees that the tool is of a higher standard and can secure data more efficiently.

5.2 In case the Company made a deal with any third parties in order to develop and maintain the system and the allocation of resources or services on behalf of the Company, The personnel of such third parties who provide service to or act on behalf of the Company must agree to keep your Personal Data.

6.Owner `s rights

6.1 The person who owns the Personal Data is entitled to access and make copy of the relevant Personal Data provided to the Company and which is under control of the Company or request for disclosure of the Personal Data to which you do not consent, UNLESS it is to protect the owner of the data or the rights of the other person, is contrary to or inconsistent with the provisions of the law or court order or other cases as required by law.

6.2 You may cancel the use of your Personal Data or the disclosure of your Personal Data to which you have consented.

After the cancellation, the Company may not be able to serve you at its full capacity or as stated by the Company. However, the Company may collect data for inspection of services provided to you or to proceed with any legal actions, provided that the Company will not use your Personal Data for any other purposes.

6.3 If the Company does not maintain the Personal Data as required by law, you may request the Company to destroy, remove, suspend the use of or anonymize your Personal Data.

6.4 Any other rights under the laws, e.g. the right to amend personal data, the right to cancel the use of personal data, the right to object any process of personal data, for whatsoever reason.

6.5 You may exercise any right as mentioned above through email: info@oceanproperty.co.th, in which case the Company will consider and inform you of a result of your complaint within 30 days from the date on which the Company receives your complaint.

7. Marketing Activities and Promotional Activities

In the event that the Company has send any information relation to its marketing activities and promotional activities, including those concerning products, services or any interesting activities and if you have agreed to receive such information but would like to cancel such receipt, you may proceed by email: info@oceanproperty.co.th

8. Exceptions to the Confidentiality of Personal Data

Any of the following actions shall not be deemed an offense to the Privacy Policy:

8.1 An action towards the Personal Data that has been disclosed to the public at the time you disclose this information to the Company or that is publicly disclosed which is not the fault of the Company or its Affiliates.

8.2 Disclosure of the Personal Data with your written consent or permission by any other means.

8.3 Disclosure of information as necessary by laws, orders, rules, regulations, court orders, or governmental agency, or other necessities.

9. Personal Data Retention

The Company will retain your Personal Data only for such period of time as necessary to fulfill the purposes outlined in this Privacy Policy.

10. Changes to our Privacy Policy for personal data protection / Contact of the Company

10.1 Company may change or update details of Privacy Policy for personal data protection in part or in its entirety. If there is a change, the Company will update its Privacy Policy for personal data protection on the website.

10.2 Users may express his or her opinion on the Privacy Policy for personal data protection at "Contact Us". However, users agree that the Company `s discretion is absolute.