To invest in the real estate industry, location is one of the key factors anyone should take into consideration when deciding to purchase a property or a land plot. To be able to select the right locations for each target audience’, it is important to listen to the Expert’s recommendation on locations for investment in Hua Hin and that’s where we’ll head today.
Our Lazudi expert, Andy Dyett, Property Expert is back for another article on recommended locations for investment in Hua Hin for investors, expats, and Thai holidaymakers.
We started by asking our property expert about the current trends for property investment in Hua Hin in the first quarter of 2023. We wanted to know if people are gearing toward condo investment or land. Mr. Dyett explained that the current trend for expat buyers tends to gear toward new builds as they are planning on retirement in the next 3-5 years. Retired expats preferred the idea to reserve the land plot at a good price. The Thai market, on the other hand, is different, they like the idea of land or even older houses conveniently located and easily accessible to infrastructure.
Mr. Dyett also further added that the trends tend to differ based on the target group. For instance, Thai investors are more interested in land as they see its value and growth over time. Expat buyers, on the contrary, see more potential in the villa for personal choice over profits. Then we went on to ask if these trends will change toward the end of 2023, in which Mr. Dyett said that he saw some changes coming toward the last quarter of 2023. This is because we all are still settling after the pandemic. Moreover, the currency still plays a major part with expat buyers as expat buyers tend to use USD, HKD, or SGD as these currencies are much stronger compared to THB. The Thai property market tends to be more interested in improved infrastructure, department stores, schools, or different amenities.
This leads us to our key questions for this article on the expert-recommended locations for investment. First, we ask our property expert to recommend 3 locations for investors. He said that the expat are looking for a well-built property that they can live in for 5-10+ years. He also added that investors, especially Thai, tend to gear toward condo investment. They tend to look for a reasonable rental return and keep the unit/units within the family for several years to benefit from price rises much later. The expat buyers don’t see this as a strong investment as they prefer a shorter term for any capital growth. Some will use surplus funds to purchase a condo or house and enjoy a rental return over a few years but prefer to cash out earlier rather than leave it to family members.
As for the specific locations, expats tend to prefer the seaside as opposed to the city. However, due to the cost of coastal property, expats sometimes would head a bit further to the West. Thai holidaymakers, according to Mr. Dyett, will always focus on the city. For them, condos are more important. They tend to select residences near the shopping malls; for example, Soi 88-102 are about 3-5 km from the shopping malls. Sometimes they may select the South into Khao Takiab as it has good beach access. It is also important to know that Thai people prefer more city-based as they see the importance of increased land values. This group of Thais is primarily from Bangkok where they already know about the city’s growth. They are now seeing Hua Hin as a city with strong investment.
Lastly, Mr. Dyett also added that things have changed the way either investors, expats, or Thai holidaymakers choose locations for investment even before the pandemic. This was when the malls arrived, initially Market Village but now it’s shifted slightly further South with the Blu Port and the Bangkok hospital. Over recent years people have selected other landmarks when making decisions on distances to the city.
When asked if there will be any chances in the recommended locations 5 years from now, our Property Expert explained that he didn’t see too much change but there could be possibilities. Things like new train stations or airports opening other infrastructure could help. Domestic and Asian flights would have a significant impact in Hua Hin, should these changes occur in the future.
We hope that this article can provide some useful insights for you. For those looking to explore more property in Hua Hin, please feel free to contact us today at Lazudi. We would be happy to serve you!
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