News Forum - Condominium sales slow down in Hua Hin and nearby coastal areas during pandemic

[Thaiger]

There’s a low demand for condominiums in the coastal areas of Hua Hin, Cha-am, and Khao Tao. Only two new projects for sale were launched in the resort communities last year. Hua Hin, a seaside resort district in Prachuap Khiri Khan, is still a popular vacation spot, however, condominium sales there remained low throughout 2021. Due to Covid-19, developers in the area are using a wait-and-see tactic before beginning new projects. From 2008-to 2021, a total of 28,055 units were installed in the communities. Around 58% were in Phetchaburi’s Cha-am, 11% in Prachuap Khiri Khan’s Khao Tao, immediately south of […]

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[Bike]

The problem is the Thai / Farang rate in condominiums. Other possibilities are company based . Ownership or long term lease to overcome this. So hopefully they chamge the law and let more foreign pwople buy condomuniums on their own name. Properties managed by foreign co-owner committees have a better maintenance status than Thai. So the more Farang the better for the condominium buildings. 

[Cathat]

Bit of a water is wet statement this story.

[Vince]

9 hours ago, Cathat said:

Bit of a water is wet statement this story.

I find myself unsurprised by a real estate downturn, as well. 

But it's great Thaigher is giving us more details than just a hunch. 

[Markwick]

Problem is visa rules , they want rich expats 

reward the rich expat 

make it harder for bums but reward the wealth, the day they do this is the day things will run 

don’t they understand the Thai own land so there asset will rise side by side 

[Kaelli]

Wow, these numbers are extremely low. Even if we know that the possibilities and rates in condominiums are the ones that contribute to these statistics, I think it isn't very reassuring.

[DoUKnowWhoIAm]

On 1/21/2022 at 4:26 PM, Thaiger said:

Out of the 28,044 units in the three communities, 20,571 were sold in 2021, making the sales rate of that year 73%

73% unsold would sound more plausible. Or maybe some Chinese buy units online?

[Kaelli]

Wow, these numbers are extremely low. Even if we know that the possibilities and rates in condominiums are the ones that contribute to these statistics, I think it isn't very reassuring. I think the local hoa law should consider this and develop a solution. In our local area, our numbers might be considered huge compared to those in Hua Hin, Cha-am, and Khao Tao. This subject got me curious, and I want to know more about it. I'll reach out to one of my lawyers to see and discuss this aspect.