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Hua Hin Property, what is hot, and what is not!

Hua Hin Property, What is Hot and What is Not
Hua Hin ist still much smaller than the well knowen places like Phuket and Pattaya, but obviously many people like that. Hua Hin is getting a lot of attention right now. On one side does the mouth to mouth propaganda of happy holidaymakers over the years seems to work. On the other side is Hua Hin getting into the focus of the fast growing community of westerners who are leaving their countries to live a better life. Very motivated are also asian property buyers from Singapore, Hong Kong and Beijing, who just start to explore Thailand’s royal holiday place Hua Hin. Last but not least, the Thais themselves, mostly from Bangkok, are by far the biggest Condo buyers, especially for the Thai Developers who also got Hua Hin in their focus. With this background it is no wonder that Hua Hin Property is booming like no other place in Thailand.


Hua Hin North
During the last 12 month,the area north of Hua Hin, between Hua Hin and Cha Am has becoming the hot spot for condo and housing developments. Just the biggest project ”the energy” alone is building 6.000 units. A project in a size like this is new for the Hua Hin Region, but it looks that the developer is able to place these units at his target group of Thai buyers, because they are taking the effort to also build all the infrastructure which was missing in the north of Hua Hin so far. Based on these new Hotels, Shops, Restaurants, Fitness, etc. the north will attract customers which are looking for condos in new projects with lots of facilities. The best Condo deals in the north of Hua Hin  are:


-          second hand condos in the higher floors of high rise buildings. They are often underpriced and offer            breathtaking views which are not available any more depending on the new building regulations.


-          Of plan Condos in new projects which are selling much cheaper than the finished ones. 


 



Hua Hin center
From the royal palace in the north down to Kao Takiab in the south, is the hottest spot for real estate in Hua Hin. Just a handful of the traditional colonial style Hua Hin Beachfront Villas are available and prices starts at 100.000.000 THB. The town center is the first place the “most wanted” area for Beachfront Condos in Hua Hin and all the Condos on the beachside of Petchakasem Rd. slowly but surely, turning into gold. The best property deals in Hua Hin town center are:


-          Single houses, second hand, on the left and right of the royal Palace. Especially the area of                        Neabkehard Rd. is the most attractive living quarter in town and good deals are still possible. 


 


Hua Hin west
The west of Hua Hin (mainly behind the hills of Soi 88) is the home base of several housing developments in modern European style. The projects are starting with 2 bedroom houses around 5 m thb and they where the best selling properties in the foreign bracket during the last 3 years. Prices went up every year 10%-20%, but value for money is still attractive for clients who are looking for nice pool villas below 10 m thb in a quite area close to town. The best property deals in Hua Hin west are:


-          Second hand Villas of motivated sellers who are looking for bigger Homes.



 Hua Hin south
The south of hua hin is named Kao Takiab, which has already seen a massive condo boom during the last 4-5 years. A lot of people continue to like Kao Takiab, because it still has his charming places at the beach, but prices for land are so high that the south of Hua Hin turned for 90% into a Condo location. The best Condo deals are: 


-          Second hand condos in high rise projects like Jamjuree at high floors, which are underpriced                      compare to the town center.


Hua Hin is turning from a sleepy beach town into a busy international meeting point, and an investment in Property is definitely promising. As a rule of thumb, the central locations are more for the people who don’t care about the price if they really like it, but a property with good investment potential is rare to find there. However, some locations a bit away from town, like Tab Thai at Soi 112, have still great investment potential and they will be soon the next place for village projects and private estates.

Hua Hin Property market review 2012

The Hua Hin Property Market in  is growing and, therefore, getting more complex. That is the main reason why some market participants might feel unsafe to say if the market is going up or down especially if they perceive different signals.



The demand for Hua Hin property in 2012 is much more specific and quite differentiated between local and foreign buyers, or between products and price levels. The major trend is strongly going up because of the rising demand, but potential buyers have now higher expectations and much more alternatives to choose from.
In general, both thai and foreign buyers prefer quality properties and they are willing to pay a premium if the property is matching their expectations. Thai buyers still tend to be focused on condos located in the city center, while foreign buyers take advantage from a better value for money to acquire pool villas.


At present, best selling properties are new houses in quality developments close to town in the price segment of 6 to 12 million thb. On the opposite side, an extremely slight demand is observed for second hand houses from less quality project in a lowest price bracket of 2 to 3 million thb.
Hua Hin Property, Trend of  Sales




This year’s total property sales have increased a 10%. Condo sales have grown an 11%, villas a 10% and land another 8%.


 City Center
City center has still the highest demand of all Hua Hin areas, usually regarding beachfront condos, but the offer of quality units is quite limited. Prices in city center have risen between 14% and 15%, and sales have augmented another 4% to 6%.


Hua Hin Property, Trend City Center


 South of Hua Hin


In the south of Hua Hin, Kao Takiap has the highest supply of new Condos, with several new projects in Town. Prices are stable because of the high number of offers, but the products are just in the low to mid quality segment. Prices in the south of Hua Hin are 1% up and sales have increased 10 to 12%.


Hua Hin Property, Trend South


North of Hua Hin


The demand for the north of Hua Hin is quite moderate, mostly depending on the low infrastructure and the airport, since several new projects claiming to be in Hua Hin already belong to Cha Am. Prices in the north of Hua Hin have gone down 2 to 3% and sales have diminished a 1%.


Hua Hin Property, Trend North


West of Hua Hin


West of Hua Hin is becoming the new Area for Villa Projects. The combination of quality projects, and a save and quite neighborhood close to city center obviously ticks the right boxes for villa buyers who are mostly foreigners. Prices have risen 10 to 12% and sales another 12 to 15%.


Trend of Sales in West of Hua Hin


Outlook


Too high asking prices for most average condo units are slowing down the otherwise very strong condo segment of Hua Hin. The biggest future potential for new developments is building quality condo projects in the western part of town, preferably on higher ground overlooking the city center and the sea.


Quality pool villas in Hua Hin are very good value for money at the moment and a great investment. They benefit from a strong rental market and fast rising land prices. The biggest demand is for Asian style villas between 6 to 12 million Thb, on bigger plots and nicely landscaped projects.


For investors, land is the most interesting option. Undervalued areas in Hua Hin have an extraordinary growth potential of 100 to 120% during the following 12 months. 


Hua Hin Property, who bought


Thailand 32%, Europe 28%, Rest of Asia 17%, America 4.8%, Australia 3.2%, Russia 1.7%, Arabic countries 1.1%, Other 12.2% 




Hua Hin Property, Who bought


71% of all buyers already own Properties, 68% are over the age of 50,
52% play Golf regularly, 51% are buying to live in the property. 




The Hua Hin Property Market is established and very healthy. The uncommonly high percentage of Thai buyers gives it a solid foundation. The growing demand worldwide – now also from countries such as Australia, USA, China, India and Germany-, will give Hua Hin enough potential to feed the upcoming new development projects. However, intelligent city planning and a focus on high quality developments will be needed shortly to handle this ongoing boom.


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