Pattaya NPA Properties: Hidden Opportunities or Price Comparison
Pattaya’s real estate market offers investors an avenue through Non-Performing Assets — properties repossessed by Thai financial institutions following loan defaults or corruption/fraud cases. These bank-seized assets, ranging from condominiums, detached villas and townhouses to commercial units, are typically listed below market value, presenting attractive entry points for both local and foreign buyers.
Major Banks and Asset companies auction weekly NPA properties at the Legal Execution Department in Pattaya. While due diligence is essential — title deed verification, road easements and property inspections are strongly advised — NPA purchases can yield significant returns if done correct.
Furthermore there are some websites who list NPA’s. As our office goes through those lists as well, we see not all data is correct and updated. Overal it seems that the so called Asset Management companies have better pricing than regular banks. Something we also see is that some of the Banks, like Krungsri, sold almost all of their NPA’s (giving big discounts on the list prices)
The Location in Pattaya where the weekly auctions, on Wednesdays, are held is at Theprasit Rd. Inside the Housing Project “Royal Park Village.”
Note, it takes a very long time before a property is actually sold. There are several rounds of biddings which can easily take up a year. When searching in the websites below, select only the properties where the Bank really owns it. dont go after “under auction” properties.
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