When the Bank of Thailand follows other central banks and puts up interest rates it will be interesting to see the effect on house, condo and rural land prices. I suspect that lenders will be wary of risks, the risk premium and therefore lender margins will increase as well as the central bank discount rate and prices will hiccup in sales reliant on Thai bank financing such as Thai homes and small plots of rural land not attractive to Charoen Pokphand.
Pattaya prices may rise as the Farang using developed country savings resume the retirement lifestyle with a temporary demand backlog due to Covid. The Chinese and Indian demand that is political. I cannot see tourism reaching previous levels with developed and emerging country debts, living costs and airfares rising, so I do not see rents taking off.
I think that most of the housing stock in Pattaya is obsolete, built of concrete or brick with high thermal mass, dark coloured roof tiles, oriented incorrectly to the sun, unshaded windows, no damp course, no radiant heat foil, no backyard small land area and asbestos. So taking the price/square metres of land and accelerated depreciation for the houses, buying looks less attractive.
In the condos there is really very poor build quality, ineffective condominium management and no space to swing the cat.