Property sector in Hua Hin

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 Activity in the Hua Hin property sector ranges from completely new housing developments, thru finishing trades, furniture and decor plus art, to a busy rental market as Hua Hin developes into Thailand's #1 family holiday and retirement destination, surpassing Pattaya and Phuket for cleanliness and peacefulness.  Quality of construction and finishing of new property in Hua Hin is improving also as market forces demand a better deal. Prices are rising too, driven primarily by the cost of fuel, concrete and steel. Higher prices demand higher quality, and Hua Hin's Thai and farang property developers are responding well.  A high percentage of the new property being developed in Hua Hin is in the upper range of the market, several developers preferring this working and living environment. Perhaps 30% of the market is characterized by cheap constructions on small plots. These are often quite charming, inexpensive developments with communal areas, swimming pools and clubhouses. Prices

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 As a rule, prices for new-build homes are lower than the asking prices for resale properties - understandably, no-one wants to sell for less than they paid. Perhaps 50% of resale properties were bought as investments in the first place, to be sold later at a higher price. As new developments mature, this price hike becomes more reasonable. Indeed, prices hiked immidiately after purchase are often set as a target for next year's value as the present building site becomes a finished project.  Prices range from less than half a million baht for a small, b-class condo or flat in a local community to, say, 50 million baht (1M Euro) and more for a truly fabulous home with a view, well-constructed, beautifully finished and equipped for a luxurious lifestyle. The great majority of domestic properties bought by foreigners are in the 3 - 10 million baht range.  Buying a new-build "off-the-plan" is cheaper because the price is relative to the actual cost of the project per unit. Properties - not only people - traverse the property ladder (for not neccessarily to say "climb"). Its first puchase is a property's first rung on the value ladder. The development project itself is funded in part by buyers' money and the risk of non-completion is always present. Most projects do certainly reach a generally-agreed point of completion.  Payment is most often a mix of cash and bank transfers. Payment for resale propeties most often involves a deposit of 10 - 25% and the balance as ownership is transferred, and payment for new-builds normally follows a stage-payment schedule in which payments are checked against a progress report. Reputation

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 Reputation is a fickle thing. "Someone got cheated in Hua Hin" is an intriguing subject which interests most people while "a hundred people who bought property in Hua Hin are happy and have nothing to complain about" is perhaps non-plussing to observe, because that's exactly how it should be.  Bye-and-large, and definitely on the large side, property in Hua Hin is of acceptable-to-excellent quality and the same can be said of the people involved. Property developers have the opportunity to feel pride and honour in what they do, and since Hua Hin is clearly a place of particular quality, this kind of developer does very well.  There have been unfortunate episodes involving people and money and property. Some cases are ongoing, seeking solution, and these are much talked about, and some older stories have almost become legends in popular conversation.  In the end though, it's all just talk. Be smart, take enough time, make a good property purchase and welcome to Hua Hin!