Singapore has been recently named as the Asia-Pacific city of the future by the Financial Times, however it was interesting to note that Rayong came in at 7th place, the highest ranked of any Thai city, and edging out both Beijing and Sydney.
What does that mean from a real estate perspective? It should mean increasing demand and as consequence increasing prices. Rayong has been a relatively sleepy town with reasonable land prices but it would seem that will change in the future. Add to that the already mentioned new motorway, high speed rail and refurbished U-Tapao international airport all making connectivity in Rayong area even easier.
What about beaches? Mae Rumpheung beach is the closest being only 15 minutes away from central Rayong and all the services a city provides. It still is amazing that ocean front units here still range from 650K for an older low rise studio up to about 2M for a large renovated studio in a higher floor building with spectacular views of the the ocean and Samet Island. Where in Thailand can that sort of value be had? What would you have to pay in crowded Phuket for a studio half the size?
Interestingly in Mae Rumpheng the local government has recently installed new street lighting throughout the area and is currently building new drainage and installing larger water pipes. Now why would that be all of a sudden? Also we note that in multiple areas there has been an enormous flow of land fill trucks, it would seem some large housing projects are also being planned.
With real estate the best investments are made before an area takes off not after the fact. We are not suggesting that Mae Rumpheung will be on everyone’s buy list tomorrow, however it is looking very positive for a longer hold. In the mean time you can enjoy an uncrowded beach area in Thailand, an unheard of thing within close proximity to Bangkok.
I’ve read on some blogs that this area is unpopular due to potential pollution problems in the nearby Map Ta Phut industrial area. That may well be the case if downwind or sharing groundwater, however Mae Rampheung is East of that area and the predominant winds are south easterly onshore. In other words the wind constantly blows in from over the ocean, which keeps the area both cool and clean.
Mae Phim is also a very pleasant beach area although further away, the condo development there is all quite new, priced accordingly and the unit sizes are much smaller. However it is still a very interesting area for the future.