Domestic buyers snapping up properties in Thai resort destinations

[Jonathan Fairfield]

 

By TTG Asia

 

Resort properties in Thailand’s leisure destinations are seeing surging interest from domestic home buyers over the course of the pandemic.

 

According to new data released by Thai property portal FazWaz, the popular Thai seaside resort area of Hua Hin has seen buying interest grow significantly in year-to-date online inquiries.

 

FazWaz co-founder and CEO Brennan Campbell said: “By tracking the data from 2Q2020 to mid-2021 on buying motivation of either a holiday home or for investment purposes, we can see a change in behaviour towards lifestyle purchases in Phuket, Koh Samui and Pattaya, with the sharpest uptick being Hua Hin.”

 

In Phuket, where resort grade real estate over the past decade has been highly leveraged by foreign buyers, Boon Yongsakul, chairman of Boat Pattana, said that “our Shambala luxury pool villa project in Bangtao Beach initially targeted legacy overseas buyers in the Laguna Phuket area. But by the middle of last year, we saw a strong influx of Bangkok buyers and this has continued to drive sales momentum to date”.

 

Full story: https://www.ttgasia.com/2021/07/23/domestic-buyers-snapping-up-properties-in-thai-resort-destinations/

 

-- © Copyright TTG ASIA 2021-07-25

 

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[Laughing Gravy]

The rich will get richer and the poor will continue to be poor.

Edited July 25, 2021 by Laughing Gravy

[ThailandRyan]

Money begets money and only those that have can obviously buy.  Not your typical run of the mill family who is living day to day now because of Covid where before covid they would have had extra money to invest.  Must be all of the Hi-So's or those acting at the behest of others.

[Henryford]

Great time for the rich to snap up assets at bargain prices.

[mikebell]

I don't believe this propaganda from 'Housing experts'.  Daily on FB Marketplace I view dozens of properties up for sale.  Agents of real estate have always talked up prices.  There will be a few well-heeled buyers snapping up cheap properties but the overwhelming supply of For Sale notices on businesses and housing gives the lie to  this 'survey'.

[NCC1701A]

they are going to be disappointed when they get to Hua Hin and realize it looks nothing like that heavily photoshopped photo.   

 

if only the water was that color. 

[sucit]

Smart money realizing pattaya as a hub is most likely over. 

[realfunster]

I’m not convinced. Hua Hin remains popular with Thais, so it is possible the impact there will be much less that more foreign orientated places such as Phuket & Samui. I doubt overall there is anything like the pre-pandemic levels of real estate activity though.

 

I viewed a few properties in HH around this time last year, after the first 2020 lockdown.

The agent also gave me the same spiel then, business had been amazing and lots of Bangkokians were suddenly buying up HH properties.

 

Strange then that the 3 places I viewed are still on the market a year later !

[Shuya]

36 minutes ago, Jonathan Fairfield said:

grow significantly in year-to-date online inquiries

So not in sales, but just bored people sitting at home and having nothing better to do than looking at houses

[ChipButty]

20 minutes ago, mikebell said:

I don't believe this propaganda from 'Housing experts'.  Daily on FB Marketplace I view dozens of properties up for sale.  Agents of real estate have always talked up prices.  There will be a few well-heeled buyers snapping up cheap properties but the overwhelming supply of For Sale notices on businesses and housing gives the lie to  this 'survey'.

You are right Im in a few of them property groups on FB and I even know a few so called agents, nothing seems to be happening where I live some rentals thats about it

[BE88]

14 minutes ago, realfunster said:

I’m not convinced. Hua Hin remains popular with Thais, so it is possible the impact there will be much less that more foreign orientated places such as Phuket & Samui. I doubt overall there is anything like the pre-pandemic levels of real estate activity though.

 

I viewed a few properties in HH around this time last year, after the first 2020 lockdown.

The agent also gave me the same spiel then, business had been amazing and lots of Bangkokians were suddenly buying up HH properties.

 

Strange then that the 3 places I viewed are still on the market a year later !

And the price down, yes strange, who said sellers lie like............

 

[Whale]

I don't know why any of us take any notice of this drivel these property companies put out just to try and create interest/money for their ownselves.

 

IMHO Real estate agents are largely chancers who overcharge their mediocre services.

[ChipButty]

4 minutes ago, Whale said:

I don't know why any of us take any notice of this drivel these property companies put out just to try and create interest/money for their ownselves.

 

IMHO Real estate agents are largely chancers who overcharge their mediocre services.

One of the most famous quotes used "70% of the Project is Sold" I know of a company that backfired on when the tax department came crashing down on them then trying to tell the taxman it's just a marketing tactic 

[BritManToo]

59 minutes ago, Jonathan Fairfield said:

Resort properties in Thailand’s leisure destinations are seeing surging interest from domestic home buyers over the course of the pandemic.

Doesn't seem likely.

[BritManToo]

42 minutes ago, NCC1701A said:

they are going to be disappointed when they get to Hua Hin and realize it looks nothing like that heavily photoshopped photo.   

if only the water was that color. 

Photo I took at Hua Hin harbour a few years back, I thought the sea colour was nice.

Edited July 25, 2021 by BritManToo

[Pinot]

Suspect information here. No one is buying anything. Don't believe anything from a realtor. Like getting your news from TAT. 

 

Everything is for sale and NO buyers. In fact, the one bright spot has been Russian buyers in the last few years. The Russians are leaving, they're not buying anything. Who does that leave? Domestic buyers. How many rich Thais are there that would actually impact a totally dead market? Buying for investment in Phuket? Come on. 

 

I smell BS. 

[Elkski]

All those Cha am condos bought on speculation or thinking of making money on air bnb.  I bet many buildings have low occupancy

Edited July 25, 2021 by Elkski

[mtls2005]

Pump and dump article.

 

1 hour ago, Jonathan Fairfield said:

According to new data released by Thai property portal FazWaz

 

Written in the boiler-room while waiting for that new batch of leads.

 

Insert Glengarry Glen Ross YT clip with an amazing cast saying the word "leads" three thousand times.

 

 

 

 

[sungod]

1 hour ago, Jonathan Fairfield said:

According to new data released by Thai property portal FazWaz, the popular Thai seaside resort area of Hua Hin has seen buying interest grow significantly in year-to-date online inquiries.

Thats people outside of Thailand locked down, with nothing better to do than look at pictures of houses on their computers and dream.

[sandyf]

1 hour ago, ThailandRyan said:

Money begets money and only those that have can obviously buy.  Not your typical run of the mill family who is living day to day now because of Covid where before covid they would have had extra money to invest.  Must be all of the Hi-So's or those acting at the behest of others.

Narrow minded. A large part of the Thai population live in commercial and industrial areas a bit removed from the tourist dependent regions.

They have continued to work throughout the pandemic, staying at home and saving money. Even during the first lockdown many of the large factories around here had a facelift, life didn't come to a grinding halt as many would make out.

[ezzra]

1 hour ago, Henryford said:

Great time for the rich to snap up assets at bargain prices.

Not really, this Covid hardship most affecting the poor and the very poor people, i'm on a lookout of distressed properties for sale and there are hardly any at a bargain or desperate fire sales...

[mickyr55]

1 hour ago, realfunster said:

I’m not convinced. Hua Hin remains popular with Thais, so it is possible the impact there will be much less that more foreign orientated places such as Phuket & Samui. I doubt overall there is anything like the pre-pandemic levels of real estate activity though.

 

I viewed a few properties in HH around this time last year, after the first 2020 lockdown.

The agent also gave me the same spiel then, business had been amazing and lots of Bangkokians were suddenly buying up HH properties.

 

Strange then that the 3 places I viewed are still on the market a year later !

Must agree down here at Ban Chang the constant rhetoric from agents about buying before the expected boom following the completion of the motorway link is beginning to wear a little thin properties with price drop after price drop still on market for months, aint that the truth of it all.

[Misterwhisper]

1 hour ago, Jonathan Fairfield said:

seeing surging interest from domestic home buyers

Easy, easy, guys! Or there will be nothing left for the 1 million wealthy foreigners the government says it expects to "lure" to Thailand soon enough.

[Skallywag]

2 hours ago, Henryford said:

Great time for the rich to snap up assets at bargain prices.

Only an asset if you can rent it out and make money. 

Otherwise it is a liability and money pit

[Mac Mickmanus]

2 hours ago, Jonathan Fairfield said:

According to new data released by Thai property portal FazWaz, the popular Thai seaside resort area of Hua Hin has seen buying interest grow significantly in year-to-date online inquiries.

A website has seen more people looking at said website .

That doesn't show an increase of people buying/wanting to buy a property , it just shows more people have been looking at their website . 

   That could be because other local estate agencies have closed down or because they  have been spamming Facebook with adverts 

[ivor bigun]

50 minutes ago, sandyf said:

Narrow minded. A large part of the Thai population live in commercial and industrial areas a bit removed from the tourist dependent regions.

They have continued to work throughout the pandemic, staying at home and saving money. Even during the first lockdown many of the large factories around here had a facelift, life didn't come to a grinding halt as many would make out.

Our son runs a small to medium size company ,business is very good. 

[Mac Mickmanus]

16 minutes ago, ivor bigun said:

Our son runs a small to medium size company ,business is very good. 

What line of business is he in ?

[Kwaibill]

I wonder if it is "surging interest", or a perception caused by a surging "disinterest" by foreign buyers, leaving domestic clients as the only buyers?

[grantbkk]

I don’t want to say the author of this piece is lying and that this is simply just another real estate puff piece rolled out every week on a set schedule. 
 

However, this is just BS and not even close to being true at least in this dimension. 

[BritManToo]

33 minutes ago, ivor bigun said:

Our son runs a small to medium size company ,business is very good. 

My daughter just started working in a medium size company, business is also good.

On the other hand, nearly everyone else in the family is broke, sold everything, defaulted on their loans.