THAILAND - Hua Hin: Developers heading for the hills

Thailand Property Report - September 06

One could easily say that there are three main hotspots for Thai property right now, those being Pattaya, Phuket and Hua Hin. All three are experiencing rapid growth and expansion but not all offer the same thing to the same people. “All of them have their strengths and weaknesses,” said Nusara Banyatpiyaphod, President of Ocean Property. “Phuket is the most expensive due to the airport and pristine quality of its water and beaches, but the effects of the tsunami still linger. Pattaya is close to Bangkok, but it’s a party town with a wild reputation and every Western convenience. Hua Hin is a nice compromise: it’s smaller and has a more traditional, relaxed feel to it.”A recent survey by Knight Frank Chartered (Thailand) shows that Hua Hin has a total of 18 condominium projects with 1,732 units launched for sale priced from Bt30,000/sqm to Bt100,000/sqm. The firm expects to see sustained growth in the Hua Hin condominium market for the rest of the year, driven largely by Thai buyers seeking to acquire lifestyle properties.

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