Editor: Cheyenne Hollis
Pages 14, Dot Property Magazine ISSUE 026 Q1 2019
Despite a great location, the Hua Hin condo market hasn’t performed as well as other parts of Thailand during the past few years. However, the situation began to turn around in 2018 with night Frank Thailand reporting that some positive signs were seen during the first three quarters of last year. A total of 1,041 new condominium units came online during this time, skyrocketing 164 percent when compared to the same period in 2017. The new supply is situated in central Hua Hines as opposed to more suburban locations. This highlights how developers have learned from prior mistakes. One of the reasons for the Hua Hin condo market slowdown was due to product types and styles that didn’t resonate with buyers. According to Knight Frank, homebuilders have now focused on finding ways to blend functionality with the ambiance of the resort destination in order to create properties that appeal to buyers. The Hua Hin condo market also benefited from commercial flights arriving in the city for the very first time. Air Asia now operates regular air service between Hua Hin and Kuala Lumpur which brought more people to the seaside town in 2018. Knight Frank noted that Thais buyers searching for vacation homes or investment units to let out still make up the majority of buyers with expat retirees and overseas investors also active in Hua Hin. HUA HIN VILLAS IMPRESSThe Hua Hin condo market is recovering, but villas around the city have remained popular with buyers. By offering more space and peaceful surroundings, Hua Hin villas are ideal for families wanting a place to get away from everyday life. Red Mountain, the winner of Best Villa Development Hua Hin at that Property Thailand Awards 2018, is one of the many projects catering to those who want a break from city life. The development boasts modern-designed homes with quality finishes, fabulous mountain views, a lake, and water features. One popular characteristic of Red Mountain is the large, old trees that have been kept in the land to maintain the natural environment and beauty of the area. This ensures residents feel close to the natural surroundings that Hua Hin is known for. Another villa development popular with buyers is SivanaHideAway. The estate is one of a small number of Hua Hin villa developments near the sea making it very unique. In addition to being an ideal residence where residents can enjoy style and comfort, the project is a short drive from the Hua Hin city center adding a desirable level of convenience. For investors, there is a chance for both lucrative returns as well as personal usage during the year. The developer is offering a six percent rental guarantee for five years for those who opt into the rental management program along with 30 days of personal use annually.