The property market in Hua
Hin and the surrounding area (Cha Am & Pranburi ) is becoming increasingly
interesting, not only for local buyers but also for foreign purchasers and
Condominiums are very sought-after, preferably for the use as holiday
accommodation or for investment purposes. This is why the units are rather
small and range from one-bedroom-studios up to three-bedroom-condos.
These objects offer high standards building quality and
a wide range of facilities, such as small supermarkets, restaurants and
gyms, within the estate. Compared to Pattaya or Phuket most objects are
still moderately priced, and there is a choice of either
buying second hand units or into an off-plan project. The demand is high,
especially for Condos with sea view and/or short distances to the beach.
The villa market is mainly signified by high-end resale beachfront
properties on the one hand and new project sales on the other. Beachfront
properties on the resale market are mostly purchased as holiday/weekend
homes and buyers are generally Bangkok-based Thais or Europeans /
Americans from Bangkok, Hong Kong or Singapore. Those properties are not on
the market for long and sell for premium prices in the area. New projects
are more located inland since close to downtown beachfront land is rare!
But most of them offer sea view and are located close to one of the
international highly recommended golf-courses. Usually these objects offer
private or jointly used swimming pools and, especially within the gated
community, some more facilities are available, similar to the condominium
projects (i.e. restaurants or tennis courts).
As a general trend more and more owners use an on-site property
management to look after their properties, taking care, cleaning and also
including short time rental service for the properties, respectively
high-end villas. HHRE offer a wide range of such management
solutions. Due to the increasing demand for short or mid-term rental
contracts this offers good opportunities to gain rental returns, even when
the investor is abroad or the property is not in use by the owner!
Beachfront land in Hua Hin is barely available for sale and if so it sells
at premium prices. This means, if a buyer wants to purchase beachfront
land, he has to take a look further south towards Pranburi or must be
prepared for a rather big investment. This is why the market is focused
upon sea view plots of land or near access to one of the golf resorts.
Finally we can state that the local market is much more developed than
other resort areas around Thailand, since Hua Hin has been a well
established holiday destination for more than 70 years, prospering from
its beautiful surroundings, its close distance to Bangkok and its high
security standards, compared to other holiday destinations in Thailand,
because of the royal summer palace. On top of these, property developers
are usually financially backed-up and do not need to get a certain number
of pre sales but rather start construction ahead of sales. These
important key factors give private and institutional investors
additional trust for growth potential of properties in the area.