Condominium market bustling in Hua Hin
Bangkok's more laid-back seaside weekend getaway is increasingly attracting wealthy Thais looking for a holiday residence or rental property
- Published: 20 Jan 2013 at 00.00
- Newspaper section: Spectrum
The condominium market in Hua Hin will continue to see strong growth as many leading developers, listed and non-listed, including major companies from Bangkok, are planning new projects this year in the seaside community just three hours' drive from the capital.
Last year was a very busy one for the Hua Hin condo market, with 6,360 units launched at 19 developments. Over most of the past decade the condominium supply in Hua Hin has consisted mostly of two- and three-bedroom units. However, there has been a significant shift in recent years. with one-bedroom units, some priced as low as two million baht, starting to predominate. This reflects in part the growing number of people, mainly Bangkok residents, seeking affordable weekend getaway residences or investment properties to rent out.
Traditionally most purchasers of Hua Hin condominiums have been looking for holiday homes, but lately more people are buying with an eye to earning rental income. Hotel development in Hua Hin has not kept pace with the growing popularity of the area among tourists, and thus rental condominiums are in demand for short stays of one to three days, usually from Friday to Sunday or on long weekends. There is also an opportunity to rent condos to foreign visitors for longer terms, in some cases as much as six months.
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