Condos in destinations such as Hua Hin and Cha-am can be a very attractive long-term investments as they continue to be popular among local and foreign tourists.
A survey by Plus Property Co Ltd, a property agency arm of Sansiri Plc, said the market response rate for Hua Hin and Cha-am stood at 72 per cent, with a high demand for property in Cha-Am and Khao Takiab.
Despite a slight slowdown in Hua Hin and Cha-am this year compared to 2015, the tourism outlook in these destinations is still good, with more than 3 million local and foreign tourists visiting Hua Hin in 2015, or an increase of 3 per cent from the previous year. This continuous rise in tourists has resulted in a good market response for locations near tourist accommodations.
Overall, these areas show a 72 per cent market response rate versus total real-estate supply, the company’s deputy managing director Anukul Ratpitaksanti said.
“Hua Hin and Cha-am are highly favoured destinations among Thai and foreign travellers, due to beautiful geography, great food and the fantastic relaxing environment. Tourism is therefore helping to drive the local economy, with positive impacts to the real-estate market,” he said.
The Hua Hin – Cha-am real-estate market is expected to expand further in the next three to four years thanks to the government’s plan to develop a high-speed rail connection from Bangkok to Hua Hin and dual rail systems from Nakhon Pathom to Hua Hin. There are also plans to expand roads, develop several tourism attractions and with the new large department stores that have open their doors, Hua Hin is truly a great place to purchase a condominium, either for living in or as a rental investment property.