Property
Driven by its popularity as both a holiday destination and a location for foreign expatriates, Pattaya is an area of extensive property development, including hotels, condominiums, and housing estates. Steadily rising prices of land and buildings have also led to investment and speculation contributing to the growth in the town's economy. While foreigners are not permitted to own land, they are permitted to hold title to condominium units. Many new condominiums sell out the allotted 49% for foreigners while the buildings are being constructed.
Read more about this topic: Pattaya
Famous quotes containing the word property:
“Children are potentially free and their life directly embodies nothing save potential freedom. Consequently they are not things and cannot be the property either of their parents or others.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“No man acquires property without acquiring with it a little arithmetic, also.”
—Ralph Waldo Emerson (1803–1882)
“I must feel pride in my friend’s accomplishments as if they were mine,—and a property in his virtues. I feel as warmly when he is praised, as the lover when he hears applause of his engaged maiden.”
—Ralph Waldo Emerson (1803–1882)