If gambling is coming to Pattaya, now is the time to invest.
If the rumours are to be believed, the government are considering relaxing the strict gambling laws that are in place in Thailand. The old saying that “there is no smoke without fire” seems to ring quite true with the notion that gambling may be legalised. We all know that it exists in Thailand but it is done illegally and typically underground. This would be the perfect opportunity to give Thailand yet another boost at a time when the country appears to be doing so well.
Of course, if gambling did come to Thailand one of the obvious places that would benefit would be Pattaya, a well known party city and entertainment centre. The Thai casinos would no doubt move in quickly but it is hard to imagine that the gambling giants such as Sands and MGM wouldn’t want to have a presence – just as they have in Macau. Gambling is big business and generates massive income streams both directly from the gambling itself but also from the entertainment and activities indirectly connected to it.
Pattaya would benefit from it hugely and the large plots of land, that although not plentiful, certainly still exist in prime locations that would be prized targets for the big boys. Of course if the big boys show an interest, the prices will go up and so will all other plots of land and properties in and around the Pattaya area, just as they did in Macau post 2002. It goes without saying that real estate prices across the board will appreciate and appreciate quickly.
Although the Thai Baht is currently very strong against most other major currencies this should not be seen deterrent. Most observers have confidence in the Thai economy so therefore significant falls are unlikely in the short term. The capital appreciation is where investors will make the greatest gains and this certainly applies to real estate. If casinos do come to Pattaya every available space and room in the city will have a vastly inflated price and once the momentum starts building, there will be no way of reversing it.
Investing in properties that will generate a steady income seems particularly attractive at the present time. Not only will there be increased demand if and when the casinos arrive but guaranteed rental returns far outstrip the returns offered by banks and other financial institutions. These investments are as close to risk free as any investor will get in the present economic climate. So the immediate income as well as capital appreciation means that property in Pattaya should be part of any investors’ portfolio.