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Real estate firm surveys Hua Hin property market

Oct 28. 2019
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By The Nation

Condos make up the highest demand in real estate purchases, Plus Property announced on Monday, citing its recent survey of the Hua Hin-Cha Am market, which saw 11,700 units up for sale in the first six months of 2019, with a 76-per-cent take up. The Hua Hin zone near the sea is the most popular, with 70 per cent of the units offered selling fast, aided by the recent reduction transfer fees and easing in access to mortgages. Condos priced under Bt3 million are the most popular.

New condos coming on the market were given as 1,000-2,000 per year representing 50 per cent of the supply in Cha-am though sales were higher in Hua Hin. The latter city boasts 3 zones of condominium development – the beach zone, the sea zone and the mountain zone, with the sea zone proving the most popular as prices are not as high as the beach area but the blocks are closer to the sea than those in the mountain zone.

Of the 5,200 units available in Hua Hin, 3,700 are units in the zone near the sea and are in condo projects that still have units left for sale, They also have the highest selling rate at 81 per cent and an average selling price of approximately Bt88,000 per square metre, almost 30-per-cent lower than the average selling price in the beach zone where condos cost Bt120,000 per square meter.

Four new projects have been developed over the past 2 years, 3 of them in the center of Hua Hin and on Petchkasem Road, which is very convenient for residents as it is within walking distance to the beach, shopping centres, hospitals and also cheaper than the beach zone.

The recent reduction in the transfer fees and housing loan measures of the Government Housing Bank have made condominiums costing no more than Bt3 million the most viable buys.

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