Hua Hin property market at present

[Green Nomad]

Hi All,

Had some disappointing news a few days ago, our tenants in a property we have in Hua Hin decided to vacate due to lack of amenities at our development due to covid restrictions, for which I understand, its like any business at this present time of crisis.

My question is, and I obviously understand this is a fluid situation we are in, but what is the market for renting and or selling property really like at the moment? I say this as I have seen people visiting and inspecting property near us for either buying or renting. Sometimes at times like this there is a market turn over due to desperate needs liKe ourselves.

Hope this makes sense. GN.

[Dannie Boy]

I think you’ll find the property market is about as low as it’s ever been - for many years there’s been an over-supply of properties for both sale and rent in the Hua Hin area, so it was always a buyers market. With virtually no tourists, you can multiply that by a factor of (10?), so until there’s a return of tourists you’re going to have to be extremely lucky to find the very few expats or Thais that are looking.
I hope you prove me wrong!!


Sent from my iPhone using Tapatalk

[Robinhood]

Hello Green Nomad,
Sorry to hear about you losing your tenant, although covid is prompting many to reconsider their location.
I'm currently renting a single room here in HH and changed location about four months ago because prices were lower than in 2019.
I could afford a higher rent, but am sitting tight at the moment. My view is that there are always buyers/empty properties and renters out there, it just depends on how happy you are to see a property empty. I rented my own house in the UK for less than the market value a couple of years ago, but I've had an income coming in every month.
It's all down to your own take on life. I'm happy a family are enjoying my former home and I've had a steady rental income without too many worries.

[HHTel]

I don't have any property worries. I own my house which is now far too big and would love to sell to move to a smaller property. But of course, the situation currently does not attract buyers unless you're ok taking a huge hit.

I only know two condo owners each with 3 condos. Fingers crossed, both of them have enjoyed full occupancy to date with no loss of rent. I guess that also comes down to landlord - tenant relationship.

[handdrummer]

I don't have any property worries. I own my house which is now far too big and would love to sell to move to a smaller property. But of course, the situation currently does not attract buyers unless you're ok taking a huge hit.

I only know two condo owners each with 3 condos. Fingers crossed, both of them have enjoyed full occupancy to date with no loss of rent. I guess that also comes down to landlord - tenant relationship.

Relationship has a lot to do with it. It's one of the reasons we've stayed where we are.
One day the TV stopped working. 2 days later, the landlady had a new 52" Panasonic delivered.
At different times, 2 air-conditioner's went out, immediately replaced with better quality units.
Same with everything that has needed repair or replacing.
A gardener is included in the rent and we pay 15,000 a month for a fully furnished, down to the bed linens and dishes, 2 bd., 2 bath house in a gated community.
She's helped when I had some problems with renewing my visa. She knows the head officer and smoothed the way and appeared as my witness for renewing my marriage visa.

She and her husband own a real estate office and do visa apps and she never asked for anything for all the services she has performed for us. Yes, relationships are everything.

[HHTel]

You're really lucky. Good to hear a story like yours amid all the 'doom and gloom' rent stories.
Renews faith in the human race.

[buksida]

From what I've seen the property market is as dead as a Dodo - there are hundreds, maybe thousands of places to rent, even more to buy, and very few potential customers for either.

With much of Hua Hin being closed down (a lot of it permanently), there will be little to attract the influx of new renters and buyers for several years. Those boom years are long gone so maybe prices will come back down to sensible levels again.

[StevePIraq]

Since returning from Indonesia I have been checking out the housing market to potentially buy. From the little I know HH seems to be fairly stable with house prices, however Samui and Phuket are at give away prices. On contacting sellers they were straight open about it, the properties had been empty for a year or more as no tourist now they are desperate to offload. As such I am discussing further and to be honest it is they who are chasing me.

It seems like a buyers market in some locations.

[Dannie Boy]

Since returning from Indonesia I have been checking out the housing market to potentially buy. From the little I know HH seems to be fairly stable with house prices, however Samui and Phuket are at give away prices. On contacting sellers they were straight open about it, the properties had been empty for a year or more as no tourist now they are desperate to offload. As such I am discussing further and to be honest it is they who are chasing me.

It seems like a buyers market in some locations.

For a number of years, many have been advocating renting rather than buying, but if you think your long-term circumstances suit, now could be a good time to pick up a bargain!!

[Green Nomad]

Thanks for the varied views on this subject its good to get a discussion going. As we are also not mortgaged on this particular property it is not essential to sell or even occupy at the moment, but I do feel the longer the covid situation goes on the worse it would be, and as you all know houses need to be lived in. But as some have said, there will be those who will want to capitalize on this current crisis, so I will have to do the sums and maybe bite the bullet. I am close to retirement and was hoping this place would boost our income. GN.

[Taf in Cha-am]

This recent article provides one writer's/publisher's take on the property market: https://royalcoastreview.com/2021/07/pr ... o-hua-hin/

There is some logic to the claims being made in the article, but are people going beyond "looking" outside Bangkok and going forward with making purchases?

[dtaai-maai]

The answer is probably watch this space, but don't hold your breath.

[Green Nomad]

Thanks Taf in Cha-am, interesting read, but as said above, the proof is in the signing.

[buksida]

Yep, can't see the Bangkokians queuing up to buy overpriced villas on farang developments.

New condos and developments targeted at them specifically are probably what is selling if the article is accurate.

[Khundon1975]

The inlaws have purchased 2 condos and 3 houses during the last 6 months in Hua Hin, all at fire sale prices.
All rented out to Thais. It’s a buyers market and plenty of properties to be had for a bargain price.