Condominium take-up rates in Hua Hin during the first half of the year have risen to 52 percent – from the previous rate of 49 percent – according to new research from Knight Frank Thailand.
Of the 22,619 condo units offered in the Gulf of Thailand town during the first half of the year, 11,395 condos were sold and 10,639 units remain, the research noted.
Demand came mostly from medium-income earners and mostly from Bangkok. These buyers prefer inland units measuring from 30 to 35 sqm with unit prices starting from under THB2 million.
“The Hua Hin residential market is overwhelmingly driven by Thai purchasers who are looking for a second home or a holiday property near Bangkok,” the report noted.
“Thais comprise nearly 75 percent of the total purchasers, with other buying groups being expatriates and foreign retirees from Europe.”
The seaside destination has also sparked interest from Chinese buyers on the lookout for a second property in Asia, mainly due to a joint venture project in Hua Hin between Thai investors and China-based property developers.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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