Reaction To Contraction In Pattaya Real Estate
Expansion as a reaction to Contraction in the Pattaya real estate market
A good idea?
The New Nordic Group seem to think so…
As the Pattaya real estate market has slowed over the last year or so, we are seeing most developers moving into a phase of contraction.
There are hardly any new projects being announced, many have been pulled from the market, while others have been ‘shelved’ for the future and some permanently canceled altogether.
This seems to make sense, and is line with the current state of oversupply to actual demand. So to see a company expanding on the scale of New Nordic appears to be at odds with this logic.
However, the world’s most famous and successful investor of all time, Warren Buffett once said;
“Be scared when others are greedy and greedy when others are scared.”
Ok the words scared and greedy are a touch extreme, but I feel the sentiment remains true to how New Nordic are continually moving forward in times when others are scaling back.
As more and more Pattaya developers are pulling projects from the market, New Nordic are announcing new additions to their group.
As others are waiting for the ‘future’ to come before committing to further investment. New Nordic are continuing to acquire substantial areas of land, completing buildings and making sales week-in-week-out!
What’s even more impressive is that this expansion isn’t just confined to Pattaya but instead is reaching nationwide status.
With developments in koh Samui already in the pipeline and with other parts of Thailand possibly on the agenda too, New Nordic are wholeheartedly embracing;
‘expansion as a reaction to contraction’
If nothing else, the real estate contraction we are seeing in Pattaya is certainly sorting the wheat from the chaff.
If you browse New Nordics website, read some of their printed publications or take a tour of their resorts, one thing to take note of is the lack of ‘desperate’ sounding promotions.
Terms like ‘fire sale’, ‘under developer price’ and ‘50% Off for quick sale’ are nowhere to be found.
And why is that?
Well, as New Nordic are proving; if you can deliver a quality product that is an asset to the local area, is of great benefit to your customer base and fulfills the promises made to its investors, then it is possible to be successful, even in tough market conditions.
Click HERE for complete details on all of New Nordics projects.
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