Hua Hin real estate market look set to lead recovery

[buksida]

Among five main tourist destinations, the property market in Cha-am, Hua Hin and Pran Buri will be the first to pick up as it relies on Thai buyers, whose sentiment and confidence have resumed after last month's coup, says the property consultant Colliers International Thailand

Sunchai Kooakachai, associate director of Colliers' provincial department, said a market recovery in these three beachside destinations on the peninsula is fastest, with condo units sized between 35-45 square metres and priced below 4 million baht, the best sellers.

"Thai buyers dominate this destination," he said. Last year the location recorded a take-up rate of 64% in the condo segment, followed by Pattaya and Phuket with 61% each, Chiang Mai (60%) and Khao Yai (55%).

"The most popular location for new property development is currently Hua Hin Soi 112 as the road is being extended to four lanes. Now it is 80% complete," Mr Sunchai said.

Land prices on this soi soared from 3 million baht a rai two years ago to 10 million, and wealthy families who bought land here include the Lippatapullop and Sarasin families.

But there is housing project on this soi named Lanaburi and owned by a Swedish investor that has been suspended and is on sale for 170 million baht.

"Foreign investors usually faced construction problem as most of them were unable to reach local construction labour," he said.

Full story: Bangkok Post

[STEVE G]

"The most popular location for new property development is currently Hua Hin Soi 112 as the road is being extended to four lanes. Now it is 80% complete,"

They must have completed about 60% since I was there last month if that is the case, virtually the whole road was a construction site.

[cozza]

I think this is referring to the Sansiri development.

[STEVE G]

I think this is referring to the Sansiri development.

That would make more sense as the road is a mess, I went around the bypass to avoid it and that's in a four wheel drive pick-up that's nearly ten years old!

[cozza]

Yea, for anyone living here it does seem a bit of PR advertising...but I have heard that the studio and 1 bedrooms in that place are selling like hot cakes...just a rumour though.

[STEVE G]

Is that the big multi-storey block they're building at the end of 112? If so it's not a bad location and obviously from there, the state of the rest of the road wouldn't be so important.

[hhfarang]

^ I think that may be the huge development on the corner of 112 and the road to Banyan.

[zeitgeist]

Sansiri Baan Kiang Fah is the new condo (multi storey block) at the end of 112, Petchkasem really. The development on the Banyan corner is Mahasamutr which had a thread somewhere in the 'Real Estate' sub-forum.
The condo sold-out 'pre-sales', units sold before construction starting, due to 20,000 baht down payment with free iphone 5. I don't know if they released all 626 units pre-sale though.

[pdm3547]

"The most popular location for new property development is currently Hua Hin Soi 112 as the road is being extended to four lanes. Now it is 80% complete,"

They must have completed about 60% since I was there last month if that is the case, virtually the whole road was a construction site.

The road is open now, but the multi-storey development is months/year away from opening, IMHO.