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Condos hot in Hua Hin

Hua Hin's property market is attractive to Thai and foreign investors especially upper-medium priced condominiums, according to the real estate firm Knight Frank Chartered (Thailand).

The company's research shows that 18 condominium projects with 1,732 units in Hua Hin were launched. They are priced between 30,000 and 100,000 baht per square metre and 75 % had been sold.

Managing director Phanom Kanjanathiemthao said Thai buyers made up 70% of total purchasers and foreign investors 30%.

''A new trend sees more Thai buyers buying into resort properties for the sole purpose of leasing to foreigners,'' he said.

The Boathouse Hua Hin has recently announced a package for investors in its new condominium units with guaranteed return of 6% per year in first two years and up to 10% yearly for the next eight years if the tourism market in Hua Hin remains strong.

Knight Frank anticipates sustainable growth in the Hua Hin condominium market for the rest of the year, driven by Thai buyers seeking lifestyle properties and affluent foreign investors.

The demand has pushed the average asking price up by 10-20% and improved the absorption rate in the past two years.
Bangkok Post August 06

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