Real estate firm surveys Hua Hin property market

[RobbyXNorway]

1 hour ago, Airalee said:

I recently looked at a number of condos for sale in HuaHin. Half of what I was shown (resales, not new) aren’t listed for sale on any website.

 

I suspect there is a hell of a lot of “shadow inventory” out there.

 

Supply....meet demand.

Cant walk 10 meters without spotting a "For Sale/For Rent" sign here in Hua Hin. And empty buildings everywhere. Even stuff that seems buildt for thais stand empty in the outskirts of HH.

 

Know of a realestate business here in HH that has been open for well over a year now and not a single sale, even though they cut their take.

 

I know people here at the complex I live who have bought a condo but do not have a secure visa situation. Would be kinda awful to not be allowed to stay any longer in Thailand, and have an ownership of a condo you cant sell anywhere near purchase price.

[Airalee]

35 minutes ago, RobbyXNorway said:

Cant walk 10 meters without spotting a "For Sale/For Rent" sign here in Hua Hin. And empty buildings everywhere. Even stuff that seems buildt for thais stand empty in the outskirts of HH.

 

Know of a realestate business here in HH that has been open for well over a year now and not a single sale, even though they cut their take.

 

I know people here at the complex I live who have bought a condo but do not have a secure visa situation. Would be kinda awful to not be allowed to stay any longer in Thailand, and have an ownership of a condo you cant sell anywhere near purchase price.

Just out of curiosity...what do you mean by not having a secure visa situation?  I’m on an extension based on retirement (or whatever it’s officially called) with 800k in the bank...and even that doesn’t feel very secure.

 

If I do buy....a big “if”....I’ll take care of the agent...but they’ll have to beat the seller down on the price to what I feel is an acceptable level.

[RobbyXNorway]

1 hour ago, Airalee said:

Just out of curiosity...what do you mean by not having a secure visa situation?  I’m on an extension based on retirement (or whatever it’s officially called) with 800k in the bank...and even that doesn’t feel very secure.

 

If I do buy....a big “if”....I’ll take care of the agent...but they’ll have to beat the seller down on the price to what I feel is an acceptable level.

 

The person is doing ED visa on the 2nd year and is 45 years old. Doesnt have a regular income but lives off stray jobs and savings. Also doing some work here (tutoring) with no work permit. Purchased a 4,2 million condo last year.

 

Offcourse it could work out great, but there are some pitfalls to put it mildly.

 

Its actually really hard to get the price down unless you have a very desperate seller and you can talk to the owner directly.

 

Also, I dont believe this is good timing. Thai government is moaning about weakening the baht, exports are hurting, so the risk of a baht fall now is pretty high. So there is a risk of buying at peak price relative to a foreign currency.

 

I'll be renting for a good while I think.