2013 is proving to be another strong year in Hua Hin for new condominium projects and sales. Many of Thailand’s leading developers both listed and non-listed are planning large scale projects in and around our royal beach city.
New trends were also emerging; previously most of the new condo construction consisted of two and three bedroom units but now developers are accommodating all budgets by shifting to studio and one-bedroom units which can be had for as low as THB2 million (US$67,500).
This strategy reflects the growing number of Thai buyers, primarily from BKK seeking affordable weekend getaways and/or properties to rent out for additional income.
A strong year ahead for Hua Hin
Thailand Property market
Although the Thai real estate industry has continued growing significantly since 2008, we have not seen a real estate bubble environment manifesting. The industry seems to have learned its lessons during the 1997 financial crisis and has successfully implemented the following safeguards: The banking industry has become much more cautious providing project financing and mortgage loans.
Thailand is member of the ASEAN (Association of Southeast Asian Nations) trade bloc and has free trade agreements with India and China, two fast-developing economic powerhouses. Consequently, many multinational companies are using the country as a regional base for its operations or a place to station employees who travel around Asia. Foreign investment in Thailand is constantly expanding, supporting the strong economic growth of the country.
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