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.
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Famous quotes containing the word property:
“Things have their laws, as well as men; and things refuse to be trifled with. Property will be protected.”
—Ralph Waldo Emerson (1803–1882)
“Crimes increase as education, opportunity, and property decrease. Whatever spreads ignorance, poverty and, discontent causes crime.... Criminals have their own responsibility, their own share of guilt, but they are merely the hand.... Whoever interferes with equal rights and equal opportunities is in some ... real degree, responsible for the crimes committed in the community.”
—Rutherford Birchard Hayes (1822–1893)
“It is a well-settled principle of the international code that where one nation owes another a liquidated debt which it refuses or neglects to pay the aggrieved party may seize on the property belonging to the other, its citizens or subjects, sufficient to pay the debt without giving just cause of war.”
—Andrew Jackson (1767–1845)