Hua Hin: Hidden Jewel of Thailand
The ending of the year 2021 is about to approach all of us. We are heading towards Christmas and New Year. Before we can discuss holiday planning with families and shopping spree, the fourth-quarter start is about clearing some old business work, but also an excellent time to find another investment in real estate. Anytime the holiday approaches, the property becomes a hot commodity because people worldwide are finding a property to rent for holidays.
Even during the pandemic, it is not different. As the vaccination rollout rate increasing by the week, many holiday destinations are preparing to welcome visitors. The Southeast Asia region is no other. Countries are preparing to open hot spots in the area to welcome visitors and relieve the economies. But are there still some hidden jewels in holiday regions.
In Thailand, there is a not-so-hidden jewel place left for a holiday home with enormous potential growth. The beach town of Hua Hin. It is a trendy destination for the locals, but it is changing. In recent years, foreign retirees have stepped into Hua Hin to look for retirement homes or a second home. The article will state why Hua Hin is a hidden jewel, with a significant upside, and some projects to look after in Hua Hin.
Hua Hin: Coastline town
The first question might pop up, well why is Hua Hin, the beach town is not in the news as much,, or why has it not been on the map of tourist destinations before. Well, for starters Hin is one of the go-to places for locals to go for a holiday near Bangkok. For citizens living in Bangkok, Pattaya is the closest beach to reach by car. Still, Hua Hin is a close second destination town for a short holiday as locals preferred destination. Hua Hin never had to advertise the city as Pattaya done with tour packages and because of the big party screen in Pattaya. On the other hand, Hua Hin is a quiet beach town with no walking street like Pattaya. Hua Hin is becoming a popular destination for ex-pats and investors because of the friendly activities, which bring in good relaxation and downtime.
With suitable friendly activities and not so much for a big night screen as Pattaya, Hua Hin caters to the more traditional water sports activities, trekking, boating, cycling, and golf courses. Hua Hin has beautiful golf courses looking out at the beach during a good summer day in Thailand. Hua Hin offers activities for an excellent relaxing time; it has promoted lots of foreign investors to come over with families or get away from the busy work life back home. Secondly, Hua Hin is a friendly town of digital nomads and the concept of work from home. The beach town is a quiet, friendly destination to have a healthy work-balance life in the quiet beach time. Of course, with all the relaxing water, outdoor, and golf activities, it caters to everyone’s wants and needs.
Lastly, Hua Hin is still considered a hidden jewel, so living in Hua Hin is relatively cheaper than in all of central Bangkok. Comparing Hua Hin with Pattaya and Bangkok, the cost of living in Hua Hin is respectability 7% and 30% decrease of cost of living. Considerably Hua Hin is a short 3-hour drive from Bangkok; it’s relatively easy to get to Hua Hin and back. But that might be the case in the future, as they plan to improve Hua Hin medical infrastructure and more leisure activities. Medical infrastructure is vital to Thailand as a whole because foreign investors come worldwide for medical purposes in Thailand. Leading foreign investors from Hua Hin are from United Kingdom, Germany, France, etc.
Hua Hin: Real Estate Market
As a beach town in central Bangkok and carter to locals, Hua Hin is known to have big villas and beach houses. Most of the projects build in Hua Hin are private pool villas or homes near the beach. But during the real estate boom around 2015-16, Hua Hin had launches for condominiums units around 5,000 units to supply. During the real estate boom, the supply and demand of condominiums units were at a steady pace. Nothing stays the same. During the pandemic, the need for condominiums in Hua hin decrease as anywhere in the would-be, generally because of slower decision-making and spending power. However, Hua Hin is pre-sales and sales transaction increase during the year from all the top tourist destinations. According to Bangkokpost.com, Hua Hin will see a rebound in 2022 because of new launches to meet investors’ demand. New launches are smaller than pre-pandemic because the market is comparably smaller to its vicinity neighbor markets. According to Thaiger.com, Hua Hin has seen an increase of 20% in sales of homes and villas from local and foreign investors.
Hua Hin has housing projects for every kind of investor. Most of the housing projects in Hua Hin are connecting with the beach. Hua Hin’s most significant incentive is that your property will be close to the beach and, if not close to the beach, then upon the mountains with a beautiful beach view. Significantly as it is a beach town, Hua Hin housing projects come with a pool villa or no pool villa. The history of Hua Hin was for Thai high society or the royals, so Hua Hin architecture was influence by victorian designs. Hua Hin is also a tiny beach town, so most housing project locations are in the city’s center, close to markets, a shopping mall, and hospitals. As Hua Hin architecture was influenced by Victorian design, you would see some housing projects close to home. Properties in Hua Hin to foreign investors would not make you homesick. Housing projects in Hua Hin can start from 2 million THB, such as Village Hua Hin. But as Hua Hin was known to be a hot spot of luxury, there are luxury housing projects with European designs starts from 7 million THB. Ironically if you do not want to be near the beach but have a beautiful beach view, Hua Hin has a golf course with its villas at Black Mountain for golfing and surfing activities.
Condominium projects in Hua Hin came into dominance during the real estate boom in Thailand. Mainly high-rise condominiums were launch during the time. Condominiums in Hua Hin with housing projects are basically at the beachfront. All of the condominium’s facilities to water activities and downtime. Condominiums in Hua Hin are predominantly high-rise condominiums, but like with everything in life, real estate developers also can not get stagnated. According to Bangkokpost.com, new condominium supply units in Hua Hin are going for more low-rise condominiums because investors are driven by more privacy and space in the branches. Condominiums in Hua Hin have a price range for all kinds of investors. Condominiums such as Trust Hua Hin range from 2 million THB with 34 square meters of room. Condominium rooms design in Hua Hin are a bit bigger than in Bangkok because the town is small, but it has a large land area to pass through to other cities of Bangkok. Hua Hin is a getaway to the South of Thailand by car as well. But as a holiday home and luxury condo, Hua Hin also has it. Sansiri La Habana is a home away from home for European investors because the architecture reminds you of Victorian design.
The Hidden Jem
A not-so-hidden Jew of Thailand anymore, as in 2022, Hua Hin is being targeted for a significant rebound in the real estate market. The rebound of the Hua Hin real estate market is being forecast because of major infrastructure in hospitals, but mainly because of new train rail developments. First, Thailand has partners with Singapore and China to build a high-speed train to connect the countries. As a result, Hua Hin has seen a significant train station to connect Singapore to the South China Sea, Chaing Mai. Secondly, the new train rail of Hua Hin will connect Bangkok and Hua Hin with a high-speed train and cut travel by 1 hour.
Nevertheless, Hua Hin possesses excellent rental yields to all investors because Bangkok locals see Hua Hin as the go-to break time destination from the busy city life. Hua Hin relaxes nature, and down-to-earth time is a significant pull out of everyone’s busy city life. Appromalitiey around 6 million local and foreign tourists visit Hua Hin with a local population of only 65,000 in Hua Hin. Pre-pandemic Hua Hin brings in 6 million visitors, and most visitors do a short rent or a long-term stay. However, the hidden jew of Thailand is soon about to be not-so-hidden, and as an investor, you would want to catch the market before it starts to accelerate and not be a private market anymore.