New Nordic VIP 2, Pratumnak: Full Condo Review
One of the six numbered VIP buildings in the New Nordic family, with studios from ฿1.3M and a ground-level pool.
What it costs to buy here
Prices below come from actual sale and resale listings, not developer asking prices.
| Unit type | Area | Price (THB) | THB / sqm |
|---|---|---|---|
| Studio(Resale unit) | 29 m² | 1,300,000 | 44,828 |
New Nordic VIP 2 is one of six numbered VIP buildings (VIP 1 through VIP 6) that make up the broader New Nordic development on Pratumnak Hill. The lineup also includes VIP 6, sold under the name "Kristine". VIP 2 sticks with the standard New Nordic branding, and instead of a rooftop deck, it offers a ground-level pool courtyard with landscaped garden surroundings. Studios here run around 29 sq.m, with resale prices from ฿1,300,000.
Who It Suits
VIP 2 works well for buyers hunting for a low-entry-price studio who'd rather have a courtyard pool at ground level than a rooftop deck. That's actually a real point of difference from most of the other New Nordic buildings we've covered in this series.
Investment view
VIP 2 sits among the more accessible entry points into the New Nordic complex — similar territory to the Club series, but with a ground-level pool setting as the practical difference between the two.
Rental yield in Pratumnak
Among the more accessible entry points into the New Nordic complex — similar territory to the Club series.
Amenities on site
Ground-level courtyard pool
Landscaped garden setting
24/7 security
Pratumnak: the district and what's nearby
Pratumnak is the hillside district between central Pattaya and Jomtien — quieter than the centre, close to the sea, and one of the more established residential areas for foreign buyers.
The area, in short
- A quiet, hillside setting away from the busiest tourist strips
- Close to the sea — most buildings are a short walk from a beach entrance
- One of Pattaya's more established markets for expat and long-stay rentals
- A good mix of restaurants, cafes and everyday amenities
- Central Pattaya and Walking Street are just a short drive away when you want them
Good to know
- It's hilly around here, so a few buildings mean stairs or a short, steep walk
- Some sois are narrow, and street parking can be tight in spots
- Malls and hypermarkets are a few kilometres away — you'll need a ride, not walkable
- Hot season (April–May) runs noticeably warmer on south-facing slopes
What's nearby
- Cosy Beach / Pratumnak beach access5–10 min walk (varies by building)
- Big Buddha Hill (Wat Phra Yai)10–15 min walk
- Pratumnak viewpoint5–10 min by car
- Walking Street10–15 min by car
- Central Pattaya / Central Festival mall10–15 min by car
- Bali Hai Pier (ferries to Koh Larn)10–15 min by car
- Apartwell — our officeIn Pratumnak
- Golden Trip — tours & excursionsIn Pratumnak
Taxes and fees when buying in Thailand
Standard costs for any foreign buyer picking up a condo unit in Thailand — the same structure applies right across Pratumnak.
| Transfer fee | 2% of registered price | Usually split or negotiated between parties, though the buyer often ends up covering it |
| Specific Business Tax | 3.3% of price (if the seller owned it under 5 years) | Seller's responsibility by law, though it's often negotiated |
| Stamp duty | 0.5% of price (applies instead of SBT if exempt) | Seller |
| Withholding tax | 1% of appraised value for companies, progressive rate for individuals | Seller |
| Legal and due diligence fees | Usually 15,000–30,000 THB | Buyer |
Thailand doesn't tax foreign-sourced rental income remitted from abroad the way it taxes Thai-sourced income — but the rules shifted in 2024 and now hinge on your personal tax residency. Talk to a Thai tax lawyer before you bank on any specific number.
Buying as a foreigner: how it works
It's a fairly standard process for Thailand, and most of it can be handled remotely.
- Reserve the unitA reservation deposit — typically 50,000–100,000 THB — takes the unit off the market while due diligence and contracts get sorted.
- Due diligenceA lawyer checks the title deed (Chanote), confirms the building still has room under its foreign-ownership quota, and looks for any debts or liens on the unit.
- Sign the sale and purchase agreementThe price, payment schedule and transfer date all go in writing. If you're not in Thailand, it can be signed remotely and couriered over.
- Transfer funds from abroadForeign buyers need to bring the purchase funds into Thailand in foreign currency, then get a Foreign Exchange Transaction (FET) form from the receiving bank — this is required to register foreign ownership.
- Transfer at the Land OfficeBoth parties, or their representatives holding power of attorney, complete the transfer and pay the fees and taxes at the local Land Department office.
How it stacks up against other buildings in the same family
| Building | Unit type | Area | Price (THB) | THB / sqm |
|---|---|---|---|---|
| New Nordic VIP 2, Pratumnak: Full Condo Review← This building | Studio | 29 m² | 1,300,000 | 44,828 |
| New Nordic Club 1, Pratumnak: Full Condo Review | Studio | 29 m² | 1,200,000 | 41,379 |
| New Nordic Club 3, Pratumnak: Full Condo Review | Studio | 28 m² | 1,100,000 | 39,286 |
| New Nordic Marcus 2, Pratumnak: Full Condo Review | 1 Bedroom | 50 m² | 1,800,000 | 36,000 |
| New Nordic Marcus 3, Pratumnak: Full Condo Review | Studio | 30 m² | 1,400,000 | 46,667 |
| New Nordic Suites 4, Pratumnak: Full Condo Review | 2 Bedrooms | 49 m² | 2,000,000 | 40,816 |
| New Nordic Suites 5, Pratumnak: Full Condo Review | 2 Bedrooms | 50 m² | 2,000,000 | 40,000 |
| New Nordic Suites 6, Pratumnak: Full Condo Review | Big Studio | 41 m² | 2,000,000 | 48,780 |
| New Nordic Trend 3 (Mango & Coconut), Pratumnak: Full Condo Review | Studio | 26 m² | 1,050,000 | 40,385 |
| New Nordic Trend 5, Pratumnak: Full Condo Review | 2 Bedrooms | 50 m² | 2,500,000 | 50,000 |
| New Nordic VIP 4, Pratumnak: Full Condo Review | Studio | 81 m² | 2,800,000 | 34,568 |
Frequently asked questions
How much do studios cost at New Nordic VIP 2?
A resold studio has traded at around ฿1.3M — among the more accessible entry points into the New Nordic development.
Does VIP 2 have a rooftop pool?
No — VIP 2 has a ground-level pool set within a landscaped courtyard, unlike the rooftop decks used at most other New Nordic buildings.
Is VIP 2 part of a larger development?
Yes — it's one of six numbered VIP buildings (VIP 1-6) within the wider New Nordic development on Pratumnak Hill.
Can a foreigner legally own a condo in Thailand?
Yes. Foreigners can hold freehold title to a condo unit directly in their own name, as long as the building's foreign-ownership quota — capped at 49% of total saleable area — still has room left. Your name goes on the Chanote, the official title deed.
What is a Chanote?
A Chanote is Thailand's strongest form of title deed for land or a unit, issued and guaranteed by the Land Department. Each condo unit has its own Chanote, and when you buy, the deed gets re-issued in your name at the Land Office.
What is a Foreign Exchange Transaction (FET) form and why does it matter?
It's a form issued by your Thai bank confirming the purchase funds arrived from abroad in foreign currency. The Land Department needs it to register a unit as foreign-owned freehold — without it, the transfer simply can't go through in your name.
Can I get a mortgage as a foreigner buying in Thailand?
Thai banks rarely lend to foreign buyers, and when they do, it's usually at higher rates and shorter terms than a local mortgage. Most foreign buyers end up paying cash, though some developers and sellers offer instalment plans directly. Worth asking about on a case-by-case basis.
Is my deposit safe during the purchase process?
It should sit with a licensed lawyer, or in an escrow arrangement written into the sale and purchase agreement, and only get released to the seller on completion. Confirm in writing how and where your deposit is held before you transfer anything.
How long does the whole purchase process take?
For a straightforward resale unit, expect 3-6 weeks from reservation to registered transfer, depending on how fast documents and funds move. Off-plan purchases, or ones waiting on an FEC, can take longer.
Can I complete the purchase entirely remotely, without visiting Thailand?
Yes, in most cases. Contracts get signed and couriered, funds move by international wire transfer, and a lawyer holding power of attorney can attend the Land Office transfer for you.
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