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Condo demand in Hua Hin rose by more than 20 percent between the fourth quarter of last year and the first quarter of 2022. The market continues to be dominated by domestic property seekers who outnumber foreign buyers by roughly a two-to-one margin.
It is important to note that volume in the resort town is much less than places like Pattaya, for instance. That’s due to lower supply. According to Knight Frank Thailand, condo supply stood at roughly 1,000 unsold units last year with many homebuilders opting to delay new launches over the past two years.
In terms of what people were looking for, Hua Hin condo demand is unique because it doesn’t cluster towards the low-end of the market. From a size standpoint, demand for studio and one-bedroom condo units between October 2021 and May 2022 comprised 46.4 percent of all enquiries made via the Dot Property Group.
Meanwhile, demand for two-bedroom units was 38.2 percent and three-bedroom condos accounted for 12.2 percent of all interest. This is in stark contrast to Pattaya for example, where interest in studio and one-bedroom condo units over the same time period contributed to more than 70 percent of all demand there.
Hua Hin condo demand by price was even more spread out. Data from Dot Property Group found that 39.4 percent of demand was for units priced at THB3 million and less. Condos at the TH3-5 million price range accounted for 19 percent of interest while the THB5-10 million price point received 19.4 percent of enquiries.
High-end Hua Hin condo demand saw noticeable increases during the COVID-19 pandemic and interest here continues to be strong when compared to other locations in Thailand.