Excess condo supply and falling demand from foreign buyers have prompted developers to slow, freeze or even revise their new developments in Pattaya, according to property consultants. Since the first half of 2011, new condo supply launched in each half totalled over 3,000 units. "Pattaya's property market is likely to take several months to return to normal as there are no entertainment activities during the mourning period," he said. According to Colliers, there were 4,326 condo units completed and registered in Pattaya in the first half of 2016, the highest in years and taking the total number of condo units in Pattaya to 70,577. Wongamat recorded the lowest amount of condo supply launched in the past few years due to limited land plots.

Source: Bangkok Post November 14, 2016 02:05 UTC