Statistics about Hua Hin property market?

[oddrhythm]

Anyone know of Hua Hin yearly property statistics for last 5 years such as:
1. Median Price per sq meter.
2. whether Hua Hin has a property bubble? What do investment analysts say?
3. who are the buyers (Thai's, speculators, expat retirees living there vs. Expats renting their properties)
4. number of reported scams, or lawsuits regarding properties in Hua Hin.
5. My wife is Thai but we live in the U.S. If we buy a condo and try to rent it, how difficult is it to cover costs (property management, etc.)

Thank you.

-m

[blue05]

go google plenty of details there

[Admin note: futile comments like this help nobody, the OP's questions are exactly what this forum is for.]

[margaretcarnes]

I've no idea about the stats oddrythm, but personally I feel there's maybe a shortfall of decent condos for holiday rental - at realistic prices and within a reasonable distance of the town centre, which can also be booked privately, and reliably, in advance.
Others may of course argue that, but for me I'd want to be no further out than Condo Chain, and certainly that side of town, at a rental of around 15,000 a month for a one bedroomed. Certainly no more than 20,000. Because for about 30,000 I could be right in the centre in a very secure hotel with pool and room service, clean bedding etc every day, no taxi hassle etc.
Maybe points to bear in mind whatever you decide.

[usual suspect]

Some of my mates who are 'Seasonal regulars' have always stayed at Sport-Villa for years, but this year they tell me much better 2-3 month deals for condos are available up Soi 88..much nearer town.

[JW]

The condo rental market in central areas is very seasonal - the rest of teh year is difficult to fill as there are so many units available. Long terms rents for 6 months plus should be grabbed when they are offered. We find most long term people go for villa style properties.

[tonymaroni]

Anyone know of Hua Hin yearly property statistics for last 5 years such as:
1. Median Price per sq meter.
2. whether Hua Hin has a property bubble? What do investment analysts say?
3. who are the buyers (Thai's, speculators, expat retirees living there vs. Expats renting their properties)
4. number of reported scams, or lawsuits regarding properties in Hua Hin.
5. My wife is Thai but we live in the U.S. If we buy a condo and try to rent it, how difficult is it to cover costs (property management, etc.)

Thank you.

-m

Nothing reliable as far as statistics I would think.
Property bubble?
What answer would you imagine if:
The investment analyst are the Realtors themselves.
All realtors are unlicensed. No Multible listing services. No escrow. No title search.
You are truly on your own.

Look for a lived in building and talk to the other owners, best bet.

Good luck!

[StevePIraq]

Property bubble most definitely but the market is not slowing down. Condo's and houses (villas) being built all over the show as if there is no tomorrow. Only recently the Hua Hin authorities approved 11 Billion Baht of new condos to be built and most are not of the sort you find at Soi 80. Whether they will retain market value well who knows as it seems impossible to find a realtor who will give a property valuation.

Where I live 163 Houses (villas) all sold, only a few occupied, very strange situation. All that have resold have gone for well below purchase price.

[oddrhythm]

Thanks for the replies. "you're on your own" is kind of what I thought might be the bottom line.

I noticed places on airbnb dot com starting around $15+ a night in Hua Hin, so I wondered how owners could break even on a rental property. And even if they did, a smart investor would still have to compare the investment to an index fund like S&P that recovered pretty quickly after the meltdown and I think has a 10 year return of over 75%.

appreciate your comments.

-m

[SunandFun]

Anyone know of Hua Hin yearly property statistics for last 5 years such as:
1. Median Price per sq meter.
2. whether Hua Hin has a property bubble? What do investment analysts say?
3. who are the buyers (Thai's, speculators, expat retirees living there vs. Expats renting their properties)
4. number of reported scams, or lawsuits regarding properties in Hua Hin.
5. My wife is Thai but we live in the U.S. If we buy a condo and try to rent it, how difficult is it to cover costs (property management, etc.)

Thank you.

-m

1- Look at 53,200 Baht per Sq.M and up depending on finishes for new construction.
2- You will never see a bubble in Hua Hin as a foreign investor. Prices will just keep increasing from the purchase side and selling is always more difficult. Condos are easer to sell and Villas near impossible. Investment in Real Estate is not advised.
3-In high season you can find renters if your price is reasonable but it will continue to be harder as the market is flooded with over build.
4-Scams are every where, buyer beware and do your home work. Large companies building condos are pretty reliable. No different than any where else.
5-Not going to be able to recover cost. Rental is for spending money, to keep some money here in Baht. And that if you are renting during the high season.
These are non scientific responses and based on a one off experience. Though I would at least share my limited experience.

[Scotian2012]

1. Median Price per sq meter.
2. whether Hua Hin has a property bubble? What do investment analysts say?
3. who are the buyers (Thai's, speculators, expat retirees living there vs. Expats renting their properties)
4. number of reported scams, or lawsuits regarding properties in Hua Hin.
5. My wife is Thai but we live in the U.S. If we buy a condo and try to rent it, how difficult is it to cover costs (property management, etc.)

Not an expert but my thoughts are:

1. Hua Hin condos seem to be 50,000+ psqm as per previous poster. For comparison, my condo in Bangkok is about 100,000 psqm

2. Analysts are saying that Bangkok is over supplied and I think this extends somewhat to Hua Hin. The difference is that Hua Hin has a good 2nd home market for Bangkokians and that is on the up. Analysts point to Isaan now as having high potential, places such as Udon Thani - likely that developers will shift some focus to that area

3. All of the above, but foreign ownership restrictions exist. Growing middle-class in Thailand and Hua Hin is a favourite destination for Bangkokians, so I expect it will continue to attract Thai buyers - development of rail network should see more interest in the area also

4. I've heard of various scams, but mostly on houses as opposed to condos. I think if you stick with the large Thai developers on Condos you should be okay

5. I'm considering buying a condo as investment in HH, I do not expect all year round occupancy, I expect the value to steadily climb over the coming years but not to Bangkok levels. My assumption would be its better to buy for potential future capital gain on value rather than rental income

[cookmanchef]

If it is mainly an investment but with the added benefit of personal usage you could look further afield. Resort property with rental income is about THB 40,000 m2 down here in Dolphin Bay, property prices are also rising down here as it is becoming very popular with Bangkok Thais and land prices have doubled in the last 5 years.

[Bristolian]

Scotian2012 wrote: 5. I'm considering buying a condo as investment in HH, I do not expect all year round occupancy, I expect the value to steadily climb over the coming years but not to Bangkok levels. My assumption would be its better to buy for potential future capital gain on value rather than rental income.

Unless you are Thai or can somehow invest in land then, I do not see the return in property, be it in Bangkok or HH. There is an oversupply of condos and houses and this will keep prices of residential property down. If you can rent a property and thereby offset its cost then it may still be a wise investment.

[Scotian2012]

Bangkok is saturated and has the worries of floods, but Hua Hin is still growing and the new train service will help that. I believe that growing wealth in Bangkok will mean that Hua Hin still stays strong as a 2nd property market for Bangkokians...Dolphin Bay is certainly an interesting option also

[Dannie Boy]

Bangkok is saturated and has the worries of floods, but Hua Hin is still growing and the new train service will help that. I believe that growing wealth in Bangkok will mean that Hua Hin still stays strong as a 2nd property market for Bangkokians...Dolphin Bay is certainly an interesting option also

I'm sure that if and when they complete a new train service from BKK to HH it will have a major impact on everything here. Property prices will certainly start to go up, but with the influx of more people, making travel in and around HH very difficult, existing expats may decide to move somewhere else.

[SunandFun]

IMO the property market will grow. However as an investment, the only market for Expats is to sell to Expats. SO with this being limited, it will not appreciate, as Expats usually pay top dollar in the beginning. With continual over build, why buy old when you can buy new at the same price. If you are going to use the property for personal use for a long time, OK. But put your money for Investments somewhere else as any ROI will be small if at all. Some occasional rental income is there, but hardly enough to offset a mortgage or a reasonable ROI. Bottom Line, Property in Thailand for Foreigners is a poor investment. All IMO. I am not saying don't buy in Thailand, just don't expect this to give you a return on your investment.