Buying an apartment or condominium in Hua Hin: The complete guide
Table of Contents
You will often have the opportunity to meet investors and foreign or local residents in Thailand who plan to visit Hua Hin for a weekend or several days. Some of them even live in Hua Hin and just visit other cities in their spare time.
Hua Hun is known as a relatively small resort with beautiful beaches, offering foreign visitors and locals the opportunity to escape the hustle and bustle of the capital Bangkok.
As there is a great deal of interest in Hua Hin real estate, this article gives the basics of buying property and may be of interest to people wishing to invest in an apartment or condo in Hua Hin.
”Although the supply of apartments for sale has increased significantly in Hua Hin, we will see a decrease in new building construction in the coming years.”
The property market in Hua Hin
Hua Hin is ideally located only two and a half hours drive from Bangkok, which makes it attractive to foreign buyers as well as Thai citizens.
This is a real advantage as the local market does not depend solely on foreign investment, as is the case in Pattaya for example.
A large number of Russians left the Pattaya property market during the oil crisis mainly because the rouble had lost its value.
Of course there are Russian investors who also buy condos in Hua Hin, but the market is more supported by Thai buyers, mainly from Bangkok.
Moreover, the fact that Hua Hin is also the preferred holiday destination of the Thai royal family reinforces the prestigious image of Hua Hin.
Although the supply of apartments for sale has increased significantly in Hua Hin, we will see a decrease in new building construction in the coming years.
This is because property developers are becoming increasingly restrictive, as the condominiums built in previous years have remained largely unoccupied.
How has the COVID-19 crisis affected the Hua Hin property market?
The majority of the markets were heavily affected by the COVID-19 pandemic. Hua Hin was also affected by the crisis, but it did not suffer the same impact as Pattaya and Phuket.
Due to its proximity to Bangkok and its reputation as a resort for locals, many Thais have fled Bangkok for a better quality of life in Hua Hin.
Not only are flat prices, rents and living costs lower in Hua Hun, but you also get to enjoy its beautiful beaches and local atmosphere.
This again proves the resilience of the Hua Hin property market, as it is supported by both foreign and local buyers.
The best places to buy property in Hua Hin
If you are looking for high capital gains on your investment, in the long run, it is important that you avoid areas where there is too much supply of condominiums and focus on areas where good growth is expected in the future.
This is comparable to Phuket, where foreigners and developers are setting up areas in the northern parts of the island, close to the airport, which are becoming increasingly attractive.
What are the most popular and interesting places to invest in or near Hua Hin?
Hua Hin is one of the 8 districts of Prachuab Khiri Khan province, which is also the most populated district with almost 50,000 inhabitants. It is in this area that prices have risen sharply in recent years.
For example, for a mid-level one-bedroom condominium flat, you should expect to pay around USD 60,000 and above.
Cha-am is located north of Hua Hin but is a district within the province of Petchaburi. Cha-Am is becoming increasingly popular with foreign buyers as well as locals.
The area is quite large and competes with Hua Hin in attracting foreigners. One of the advantages of Cha-Am is the fact that it is a little closer to Bangkok. That said, it is relative in that the difference is only about 25 kilometres.
Even if Cha-am is becoming more and more known among foreigners, it is still not as popular as Hua Hin because Cha-Am still attracts mainly Thai people.
The purchase prices are quite similar, as an average one-bedroom flat also requires an investment of about USD 50,000.
The small fishing port of Khao Takiab has developed more slowly than Hua Hin, as it is situated a little further south. Buyers have found Khao Takiab attractive quite recently, mainly because of its more affordable prices.
In the past, it was common to live in Khao Takiab and travel to Hua Hin for a restaurant and a drink.
Nowadays, most residents choose to stay in Khao Takiab as it offers a wider choice of bars and restaurants.
Apartment and condominium developments in Hua Hin
As said before, there are many interesting condo projects in Hua Hin and there will be many more in the future.
The most famous and sought after condominiums are :
Benefits of living in Hua Hin
Below are some of the most common reasons why people make the decision to buy property in Hua Hin for investment purposes looking for a good rental return or simply to reside there full time.
The biggest advantage of Hua Hin is that the city is located by the sea and at an acceptable distance from Bangkok (about 2H30 by car).
Transportation is also one of the advantages of Hua Hin. Indeed, you can reach Bangkok by bus, taxi or train. Not forgetting the high speed train project linking Hua Hin to Bangkok which is currently under construction. It will connect the two cities in only 60 to 80 minutes.
Contrary to what many people think, there are a number of renowned international schools in Hua Hin. Below are some examples of schools:
Hua Hin has many hospitals of excellent medical standard, including San Paulo International Hospital, Bangkok International Hospital, Hua Hin Public Hospital, etc. Many dental clinics are also available.
Hua Hin is attractive and potentially interesting, not only to foreigners but also to locals. Due to its proximity to Bangkok, many buyers decide to stay in Hua Hin, only travelling to Bangkok from time to time.
Prices in Hua Hin are also generally more affordable compared to Bangkok. The number of apartment buildings has increased significantly since 2010, but the supply has decreased and will continue to do so for some time.
The advantage of investing in Hua Hin is that the city is not as dependent on foreign investors, compared to some cities like Pattaya or Phuket