A Ripple Effect In Hua Hin
Hua Hin has always had a good reputation in Thailand. Rich in Royal history, the town was popularised as a resort in the early-1920s by King Prajadhipok and has been a coveted place to call home for Thailand’s highsociety ever since.
While the “Royal City” has been steadily accumulating new properties and home owners for nearly a hundred years, a recent sequence of changes to the property market, stemming from nationwide economic improvements is now rapidly affecting Hua Hin. The city is now experiencing swift increases in population, developments and investments each passing year, while holding fast to its prestigious reputation.
The Summit Residence has been watching the city grow and flourish before there eyes. Below they offers us some key insights into the societal and upper-crust of Thailand, Hua Hin has always predominantly attracted a demographic of people who were willing to pay the high construction costs required to build there. However, as technological advancements, better roadways and more supplier competition have arrived in the region, higher quality and more attractive materials are now readily available, at lower costs.
“Developers in Hua Hin have recently become able to create modern homes at much more affordable prices than ever before. “While the area is starting to attract a higher percentage of the home-buyer population, its architecture and general character qualities are still as appealing as ever with no signs of diminishing value.”
The Greater Population is Funding More Attractions
Renowned for its golf courses and commercial factors that are have created : dignified restaurants, Hua Hin hasn’t a ripple effect in the market, and always had much to offer families.
Lower Costs Are Growing the Population
Traditionally reserved for the wealthy.
besides the beach. However, with its expanding population it is now a strong choice in location for building new attractions (such as the Vana Nava Water Jungle park, Pluen Wan, Bluport shopping mall, etc.) and hosting events (such as the annual Jazz Festival, Bike Week, Kite Festival, Yachting Regatta,
etc.). With more things to do, the region is becoming a top family-destination for Thais and expats alike.
“Families want to settle down or even just visit an area that’s safe and respectable, but also has things to offer each member, regardless of their age. “Hua Hin’s tourism board has been making strides to turn it into one of the most family-friendly environments in the country.”
More Attractions Leads to Greater Interest in Renting
With more and more reasons to visit the coastal city, Hua Hin is quickly growing its reputation as a place with tremendous rental opportunities.
“The Thai economy is budding and the population is making more money; growing its middle class, and vacationing more often,” Christiansen said. “Because of these factors, rental homes in holiday destinations like Hua Hin have recently been experiencing a huge increase in popularity from the domestic market.”
With a larger demographic of people who may not be ready to buy a second home but still want high-quality accommodations during their time off, rental homes by the sea are in hot demand and Hua Hin’s location couldn’t be more convenient.
Higher Rental-Yields Piques Investor-Interest
With the demand for rental properties increasing every year, more and more internationals are targeting Hua Hin as a place to invest in real estate, and developers are answering their call.
“The area is growing with developments that can easily be converted into holiday homes when the owners aren’t using the property themselves. “This is a trend that specifically interests international investors as well as expats or local businesspeople who frequently travel.”
Compared to other major markets in Thailand, Hua Hin has an advantage in that it’s not only located within driving distance to Bangkok but also maintains a reputation so positive that it is able to attract a consistent interest year-round.
Investors Are Interested In Hands Off & High-Returns
With more interest from foreign investors, the trend of purchasing units within full-service resorts is on the rise.
This is a type of development that allows an investor to purchase a villa below market-average, and then hand the keys back over to the developer who pledges to keep the property rented out for a certain number of years, or until a specific ROI has been achieved.
Upon the end of the contract, the owner may either take back full use of the property or continue the profit-share agreement with the development.
“We have seen this option become increasingly popular among customers who aren’t immediately able to manage the property themselves. “For example, those who anticipate retiring in several years or are committed to a job contract in another place find this a safe way to see an immediate return on their investment with little-to-