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Another side of Rayong: The new residential development boom is aiming to attract Thai as well as foreign buyers

Nina Suebsukcharoen Bangkok Post
SELLING WELL: The Tropical Beach Condominium and The Oriental Beach Resort & Villa, below, on Mae Rumphueng beach.

SELLING WELL: The Tropical Beach Condominium and The Oriental Beach Resort & Villa, below, on Mae Rumphueng beach.


There is much more to Rayong than Map Ta Phut industrial estate, which now faces tighter pollution control measures after a recent landmark court ruling. Another side of the coin is the handful of new residential projects along the province's beautiful and less commercialised beaches.



Among them are The Tropical Beach Condominium and The Oriental Beach Resort & Villa on Mae Rumphueng beach, both being developed by D2 Real Estate Company. Other projects are the Vilailux Company's Phuphatara high-rise and villas on Mae Pim beach as well as Glen Asia's Tropical Beach Resort and Residence at Ban Pae and Logan Residence Development's Seaview Condominium, also on Mae Pim beach. The latter two target the Finnish-Swedish market.

D2 Real Estate CEO Jens Brochner Nielsen said recently that Scandinavians seem to have shifted their property search from Hua Hin to Rayong because many find the former a bit too crowded.

As more foreigners start appreciating Rayong's peaceful environment and sparse commercialisation, some Thais are also waking up to the rental potential of units being built along its pristine beaches and have started to buy.

Another strong attraction is that prices are lower for units of the same quality in both Hua Hin and Pattaya, but with potential to appreciate in the future. In fact, the appreciation has already started. Three-and-a-half years ago I saw some beautiful condominiums at a development called Kap Creative which has its own private beach in Wang Kaew Park. The price for these large, one-bedroom units was a low 1.5 million baht, but has now climbed to about 3 million baht.

While there is no denying the full force of the global economic gale, Mr Nielsen said that Thailand is among the countries feeling relatively less impact, especially compared with the US, where in some cases values have plunged by as much as 50%.

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