Real estate is one of the vital industries in Thailand and has played a significant role in generating revenue for the country.
To understand and manage the process and transactions, there’s a lot that home buyers need to know to buy and sell property in Thailand and Hua Hin alike. So, keeping these homebuyer tips in mind is essential.
Andy Dyett, Property Expert is our Lazudi expert who will share expert tips on how to buy property in Hua Hin in this article.
To start, one of the first issues that many buyers are often concerned about is location pricing. The reason why some areas seem to cost more than others was due to the fact that some general rules on pricing tend to be based on ‘location, the desirability of the property, the facilities as well as the neighbourhood.’
Generally, the South and North of Hua Hin tend to be 10-20% less costly than in the past. However, it has now changed due to elevated land plots, better roads and upscale developments that provide high-premium design and materials. To keep it simple the beaches are more attractive, also the beach to mountains creates good options for elevated land plots for both potential and existing buyers.
Another focused area is how Hua Hin has always been popular with retirees, so we asked our Property Expert Andy Dyett for his opinions on areas that are popular among retirees as well as expats in general.
Both retirees and expats are keen on playing golf and tend to choose a residence that is nearby golf courses. Mr Dyett, also added that retirees favoured areas with great access to golf courses.
Locations such as Banyan Golf Course located in the South and Black Mountain in the North have seen major growth from developers looking to acquire land at reasonable prices. Mr Dyett also added further that for expats even though the South of Hua Hin is higher in price but it has more attractive properties.
In addition, buying land plots on a golf course, thus, is still considered one of the best investments due to the aesthetics of the open spaces and the surrounding environment.
“Developers are also always looking for cost-effective value in the land so they can sell affordable homes. The individuals are willing to pay more if they get what they were looking for. For those that purchase the land plots, they tend to head 20-30 minutes to the South as the prices are very attractive and it is a great investment opportunity and I agree with that,” said Andy Dyett.
Next, we move to a topic about the condo market in Hua Hin, as this market is growing gradually and steadily as buyers prefer condos with communal facilities as opposed to owning a villa.
Villa will require them to maintain not just the villa but the pool and the landscaped garden. The condo pricing is also transparent as buyers know the value of the condo as well as the average cost when compared to villas which are harder to benchmark. Moreover, condos that are situated on the hillside away from the beach are much more difficult to sell even at lower prices.
Mr Dyett also stated further that he sees that the airport will become a significant factor in this market. This means that better access to Hua Hin could attract foreign as well as Thai buyers.
Lastly, we ask our expert if there is any advice for first-time buyers of the Hua Hin real estate market. We learned that it is critical for buyers to select a property based on its location value.
Also, if the property is within a villa development, it should have good security, services, and communal areas well-maintained as it will add value to the property. Areas that are on the rise with infrastructure and amenities are also something buyers should look out for, as they will add value to the area as well as the property.
Mr Dyett added that buyers should not overlook the local law as each provincial area may have slightly different laws. So it is important to speak to the experts first.
We hope that this article has been helpful to you in one way or another.
If you would like to explore the property in Hua Hin, please feel free to contact us today at Lazudi.
Our highly experienced team will be happy to assist you!