Habitat Group Co will launch BluPhere Pattaya, an eight-storey condo for investment, with 195 units worth 650 million baht. The property is located on Na Jomtien Soi 18 in Pattaya.

Property developer Habitat Group Co remains focused on Pattaya with plans to launch three new condo and villa projects worth 2.25 billion baht for investment purposes this year.

Chief executive Chanin Vanijwongse said the Pattaya tourism market continues to grow, with average occupancy of 70-80% last year and no apparent low season.

"Pattaya is the destination for all tourist nationalities, both foreigners and Thais," Mr Chanin said. "Compared with Phuket, Samui, Hua Hin or Khao Yai, where there is a low season, Pattaya has lower risks of high empty-room rates."

He said the Pattaya property market is attractive because of the many transport projects under construction that will boost the number of tourists.

The government will invest in megaprojects in the eastern region, the bulk of which includes the Eastern Economic Corridor covering Chon Buri, Rayong and Chachoengsao and an upgrade of the U-tapao airport, which aims to boost passenger numbers to 1.2 million this year from 700,000 last year.

The Sattahip commercial port will be developed to support east-west transport in order to reduce travel time to 1-2 hours.

After selling 70% of its first project in Pattaya, Best Western Premier Bayphere Pattaya, launched with 174 units last year, Habitat Group will launch BluPhere Pattaya, an eight-storey condo with 195 units worth 650 million baht.

Located on a 397-square-wah plot on Na Jomtien Soi 18, the project will be managed by American hotel chain Best Western and offer a return guarantee of 7% per year for five years, with owners able to stay for 14 nights per year, similar to the terms offered at the first project.

Another condo project will be located on a one-rai site in Wong Amat area worth 800 million baht with 100 units priced from 4 million baht a unit.

The developer has also planned X2 Pattaya Oceanphere, a pool villa project worth over 800 million baht, which will be located on a nine-rai site on Na Jomtien Soi 56. It will comprise 59 units priced between 10-15 million baht a unit.

In Pattaya, beachfront land prices were highest in Wong Amat area priced between 150-200 million baht per rai last year, followed by Na Jomtien at 20-60 million baht a rai, Mr Chanin said.

"With a limited number of competitors, condo for investment have good sales rates," he said.

Habitat Group also plans to enter the Bangkok property market this year. It will launch two condo projects, including an eight-storey building worth 300 million baht on a one-rai site on Wireless Road with a unit price of 200,000 baht per sq m or from 6 million baht a unit.

The other will be located on a one-rai site in the Phra Khanong-On Nut area worth 700 million baht, with 100 units priced from 5 million baht a unit.

The company expects to have 2 billion baht in presales and 500 million baht in revenue, up from 1 billion baht and 400 million baht in 2016, respectively. It aims to have rental revenue to increase to 30-40% of the total in the next three years, up from lower than 10% last year.