With Hua Hin tourism gaining traction with recognition as a prime holiday destination, the Hua Hin real estate market is now providing a great investment option; opportunity is knocking.
Thailand’s real estate market is one of Asia’s most popular among foreign investments. With a population of almost 70 million people, a strong service sector and an economy that has been growing steadily for the past 30 years, this is one of Asia’s most dynamic countries for investment!
Bangkok may still offer property investment possibilities, but that market is not really for those who are also looking for lifestyle and retirement options. Bangkok is a huge city sprawling over 5,986 square kilometers. That is 800 square kilometers larger than New York City’s five boroughs. With a population of around 10 million, a Bangkok property investment is not for the faint hearted.
Many potential property investors begin their investment quest after travelling to many tourism destinations and deciding to make a long term commitment to the Thai lifestyle by purchasing property. That’s means a mix of a financial investment but also a relaxed and comfortable future. The link between real estate and tourism is well known.
If the mega-city that is Bangkok is not for you and with the options of many cities, towns and attractive resort destinations in Thailand, why choose Hua Hin? Three very clear reasons are about lifestyle, accessibility and location. “Location, Location, Location’ has long been the mantra of most successful property investors!
Being as close as possible to the ocean is one such location preferences. Another is to be within easy reach of Bangkok as a transport hub. Pattaya as an ocean-side option with a similar distance from Bangkok comes into the picture. There’s even a regular cross gulf ferry between Pattaya and Hua Hin to enable an easy commute between the two locations.
Big changes in rail, air and road transport infrastructure is making both of these locations more accessible to travelers. Hua Hin may have previously suffered in this regard however that’s all changing. High speed rail between Bangkok and Hua Hin will soon be a reality to give Hua Hin a slight advantage in reach. The extension of further international flights to Hua Hin airport will extend that advantage.
Phuket is also famed for its beaches and spectacular islands. However, apart from the distance from Bangkok (over 800 kilometers) the ‘bird may have flown’ for affordable property investment opportunities. Land for real estate projects on the island is very limited. This is an issue that Hua Hin is unlikely to face for many years to come with an extensive coastline stretching from central Hua Hin both north and south along Thailand’s ‘Royal Coast’.
Chiang Mai may also come under consideration, but not if being on the coast is preferred. One of the coastal advantages is about ocean breezes and clean air. Air quality issues in Chiang Mai and other northern Thai provinces continue to be an issue for many. Apart from clean air, Hua Hin boasts climatic conditions devoid of extremes in weather conditions. With the lowest rainfall in Thailand, the monsoon season hardly changes aspects of the lifestyle and enjoying the scenic surrounds.
Tourists, residents and therefore property investors also consider the lifestyle available at a location before making long term decisions. Hua Hin offers a lifestyle initially created by Thai royalty around 100 years ago. That legacy remains with royal palaces and other cultural legacies giving the city a respectful, safe and family friendly ambiance very different in character to Pattaya.
Because Hua Hin is a preferred holiday destination for Thai people, especially as a weekender from Bangkok, the investment potential is less dependent on the vagaries of international traveler numbers. Quite simply, if the Chinese and Russians stopped vacationing in Pattaya or Phuket their property market would die. Hua Hin boasts a sustainability and growth that is the envy of other investment areas in Thailand. Apart from foreign investors, the Hua Hin property market is fed by the preferences of Thai people as wealthy Thai people love having weekend homes in Hua Hin.
The days of Hua Hin being known for a limited infrastructure are long gone. Modern shopping malls, water parks, amusement parks and sporting facilities have all appeared in recent years. An extensive range of high end resorts, restaurants and hotels await visitors as well as multiple highly awarded golf courses. The region is the current Asian golf destination of the year!
Property prices in Hua Hin remain relatively reasonable with some great value on offer and bargains for high-end real estate if you look closely. The twin disadvantages that have held Hua Hin back in the past have been about access and a limited infrastructure. As the property market reacts to recent dramatic improvements in these areas and those to follow over the next 5 – 10 years, the current opportunities for lucrative investments are likely to diminish.
Property investment in Hua Hin is an investment in the vibrant future of Thailand’s primary ocean-side location and opportunity is knocking!