Property Prices In Huah Hin

[Rainmaker]

I was wandering how the real estate market is going in HH, and am keen to get a view from people that are living there, have bought or are currently trying sell.

Are properties selling well?

Are prices going up or down?

Are you trying to sell, how longs it been on the market?

Thanks in adavance for any information.

[jumnien]

Have heard condos are selling well, not so with houses. Commercial rents downtown have gone up due to the plethora of new real estate offices opening up; they are in competition with Nepalese tailors now to see who can open the most shops.

[tuktukmike]

Spot on Sunrise

Although there are closures amongst the real estate fraternity.

Condos or flats/apartments as they should be called are selling to some extent, but houses remain unsold. There is talk that there is around 2500 empty new builds in the area.

Due to the uncertainty of the FBA it seems people have finally got the message that farang can not own land.

People I speak to tell me that the one or two houses they bought for investment purposes are just not selling, this has been reflected on a local forum.

If you have a Thai partner then there has never been a better time to buy, just dont expect a huge return on your investment.

Mike

[Ollie]

Condos or flats/apartments as they should be called are selling to some extent, but houses remain unsold. There is talk that there is around 2500 empty new builds in the area.

Mike

2500! I read somewhere that there is an estimated 3000 expats in the area, which seemed high to me. Now that would comprise of farang couples, those with kids, businesses etc, not all would be householders and will be happily renting. Now, without doubt, Hua Hin will expand, expats/Thais alike and a good % of those looking to buy will be Thai (although again, I heard they prefer condo's). It would take some rapid expansion to fill those 2500 homes!

I foresee a desolate landscape full of half completed projects. I hope not.

[tommyj4]

I was wandering how the real estate market is going in HH, and am keen to get a view from people that are living there, have bought or are currently trying sell.

Are properties selling well?

Are prices going up or down?

Are you trying to sell, how longs it been on the market?

Thanks in adavance for any information.

[tommyj4]

Anything priced sensibly will sell. Just dont go paying stupid money for something that cost a few hundred thousand Baht to build.....Land price + build cost + 40% is how to correctly value a property....2-3 million for a 3 bed bath house on half rai close to the center is about right.....

[Ollie]

Anything priced sensibly will sell. Just dont go paying stupid money for something that cost a few hundred thousand Baht to build.....Land price + build cost + 40% is how to correctly value a property....2-3 million for a 3 bed bath house on half rai close to the center is about right.....

Sounds good to me, but can you let the agents and developers know, because on the whole, they think differently!

[tuktukmike]

There is a glut of sensably priced second hand houses on the market here but as those of us who live here know they are also not selling.

The reason without doubt is the new FBA,

Another reason may be due to the low dollar, you can buy in Florida at knock-down prices at present due to the housing crisis and of course 2 dollars to the pound makes it attractive.

Also of course there is the cost of flights to take into account.

Mike.

[PeaceBlondie]

Don't expect Americans to be coming to Hua Hin in droves to purchase real estate. I suppose hundreds or thousands of Americans of retirement age know that I retired in Thailand, and not a one of them has ever asked me about settling here. Educated folks in the USA spend virtually no time even mentioning the existence of Thailand.

Nobody knows how many farang are in Thailand, let alone in Hua Hin. Nobody ever has come to my door counting long noses or blond hair. The largest group of farang I recall bumping into in HHin were what my late mother would have called "Scandahoovians."

[tuktukmike]

To get back on the main subject about house sales I would always forget about the current climate and look around for yourself.

Get good legal advice from a real lawyer, forget about the local lawyers as they tend to have a vested interest.

Rent for at least a year and keep your money back home until you are sure you have found what you want and can really own.

Local real estate agents have recently tended to tell the story of the king with no clothes, ie. Those who are against buying houses are those that cant afford to, the smart investor buys maybe 2 propertys and makes huge return on his investment.

Also always remember that while it may be paradise on holiday, living here is a different thing altogether.

Hua Hin is a nice place, but paradise it is not.

Mike.

[mikemars38]

Alot of people I know in HH say that the houses they and friends have sold, they got well over 15% PA more than what they paid for them, theres been a couple of examples recently, mind you they said it took a little longer than expected to sell them. I dont know if anyone else has had the same experience?

[tuktukmike]

Depends when your friends sold their houses.

Many people have had their homes for sale for the last couple of years and not even a bite.

We now see more houses on the market with selling due to relocation.

Its a sad fact that all the real estate agents who were telling everyone how safe the company route was are now saying, LEASE.

Even worse of course is that a new local property mag is now telling people how you can have a 30+30+30yr lease, These people could not even lie streight in bed.

This is why without doubt the condo market here is growing.

Mike.

[sezanu]

If you want to invest in property, now is a good time to do so.

It's buyers marked, like Tuktukmike said, condos may be the smartest and safest.

But small apartment is to my knowledge overpriced as there are few left in the market.

If you want to buy a villa/bungalow, you buy with 30+ year leasehold, won't advice the company way at the moment.

Like Tuktukmike said, the agents has gone from company to leasehold.

When it comes to resale there is a lot of them, that comes with a company and a possibility to transfer ownership.

though I would consider use a neutral lawyer for that kind of job.

There is a couple of good ones left in Hua Hin.

If you buy from resale it's possible to make a coup, if you're good to bargain.

The property market is slow at the moment, but still alive and I think Tuktukmike sometimes paint the situation a bit black.

but his knowledge to the market is wort listen to.

[tuktukmike]

Hi sezanu

The only problem with what you have stated is that if you buy a villa and the person transfers the company to your name are you not just passing the problem on.

Many real estate people have promised their buyers that excisting companys will not be affected by FBA-2 but as we all know this is simply not true.

Also you can not in anyway get a lease of more than 30yrs.

Sure you can make a private agreement with the leaseholder but 30yrs is a long time and things tend to change over that period.

We looked into leasing land for a new factory and house and when we consulted a lawyer he said of course this is legal and should be safe, until the leaseholder decides you have built a nice money earner.

So in effect when or if the Thai leaseholder looks at what you have built and works out the value of maybe 5-10million baht what is he/she going to do.

Those that have worked or lived here for a long period of time will understand what can and does happen.

Mike.

[STOUTBOY]

Hi sezanu

The only problem with what you have stated is that if you buy a villa and the person transfers the company to your name are you not just passing the problem on.

Many real estate people have promised their buyers that excisting companys will not be affected by FBA-2 but as we all know this is simply not true.

Also you can not in anyway get a lease of more than 30yrs.

Sure you can make a private agreement with the leaseholder but 30yrs is a long time and things tend to change over that period.

We looked into leasing land for a new factory and house and when we consulted a lawyer he said of course this is legal and should be safe, until the leaseholder decides you have built a nice money earner.

Hi

Agree entirely with this.

If you have doubts walkaway, Condo's are safe.

Becarefull of advice here as plenty with a vested inerest.

So in effect when or if the Thai leaseholder looks at what you have built and works out the value of maybe 5-10million baht what is he/she going to do.

Those that have worked or lived here for a long period of time will understand what can and does happen.

Mike.

[STOUTBOY]

If you want to invest in property, now is a good time to do so.

It's buyers marked, like Tuktukmike said, condos may be the smartest and safest.

But small apartment is to my knowledge overpriced as there are few left in the market.

If you want to buy a villa/bungalow, you buy with 30+ year leasehold, won't advice the company way at the moment.

Like Tuktukmike said, the agents has gone from company to leasehold.

When it comes to resale there is a lot of them, that comes with a company and a possibility to transfer ownership.

though I would consider use a neutral lawyer for that kind of job.

There is a couple of good ones left in Hua Hin.

If you buy from resale it's possible to make a coup, if you're good to bargain.

The property market is slow at the moment, but still alive and I think Tuktukmike sometimes paint the situation a bit black.

but his knowledge to the market is wort listen to.

Hope this is not the Sunshine man renamed.

Plenty of "Notarie's" here in Hua Hin, Lawyers go to bangkok.

Becarefull of advice here, plenty with a vested interest (Realtors and Developers) who are finding things hard at the moment, most would fleece their own Grannie's.

[tuktukmike]

What I have said on other forums is contact your local embassy first, they will give you a list of real and honest lawyers.

If you check out the Hull Thai Consulate web site they now give a warning about farangs owning land.

Funny thing is that I have on occasions been accused of being against anyone owning property, Strange really as we have always owned houses back in the UK.

But not here, No way. Never. until of course we can legally own the land.

Mike.

[jumnien]

More and more scams around here, be very careful. That said, I'm sure there are some diamonds in the rough.

[ratchabuild]

More and more scams around here, be very careful. That said, I'm sure there are some diamonds in the rough.

I've bought in Jomtien and Cha am in the last six months and there are rip off merchants everywhere. I am lucky in that I have lots of Thai friends and they can be relied upon for good advice and help. I prefer to buy existing rather than off plan because I have been disappointed with the quality of work. You pay more but you know what you are getting.

[tuktukmike]

Hi Rachabuild

As said before the other problem with buying off plan is that in most cases they are simply pyramid selling.

Its not just the standard of the finished product but the time you could have to wait if they do not sell enough plots.

If anyone still wants to buy in the current climate then at least buy a finished project and get a proper inspection done by an independant surveyor.

Mike.

[tuktukmike]

Khunhoy

Unfortunatly your comments are very common in Hua Hin at present.

Many real estate agents have no expertise in house sales but still claim to have years of experiance.

But if you or anyone wants to buy why dont people get a profesional to do a survey, back home you would not dream of buying a house without a survey.

In fact you would be refused a mortgage without one, yet so many farangs come out here and chuck their money at the agents having just looked round at their dream villa.

Developers are desperate at present due to FBA and maybe the credit situation that is building up in Europe, unless you have a Thai partner you can trust then stay away for the near future.

Mike.

[JimsKnight]

Following the latest visa bombshell I reckon house prices will definately be on the downward spiral now!

[mark100]

Hi sezanu

The only problem with what you have stated is that if you buy a villa and the person transfers the company to your name are you not just passing the problem on.

Many real estate people have promised their buyers that excisting companys will not be affected by FBA-2 but as we all know this is simply not true.

Also you can not in anyway get a lease of more than 30yrs.

Sure you can make a private agreement with the leaseholder but 30yrs is a long time and things tend to change over that period.

We looked into leasing land for a new factory and house and when we consulted a lawyer he said of course this is legal and should be safe, until the leaseholder decides you have built a nice money earner.

So in effect when or if the Thai leaseholder looks at what you have built and works out the value of maybe 5-10million baht what is he/she going to do.

Those that have worked or lived here for a long period of time will understand what can and does happen.

Mike.

Been reading your posts with interest you seem to know quite alot about HH housing developments, without sounding like an idiot could you please explain the main differences from FBA 1 to FBA 2 and how they will effect your average house buying falang.

Sorry been stuck in the UK for a while bit behind the times!

What happened to Sunrise Real Estate do you know??

Thanks.

[tommyj4]

Are you saying that a leasehold agreement that is registered at the land office is not a legally binding agreement that can be enforced? Have you first hand knowledge of this happening or is it just the usual second hand hearsay?

[tuktukmike]

FBA 2 or so called, is the new ingenious idea from politicians to close the loophole which allowed farangs to own land through the company route.

As reported the (Hardliners) also now want to enforce Thai management to qualify as a Thai company, time will tell.

A leasehold is without doubt secure in law, The problems arise 30years down the road as the leaseholder could have sold on.

This means that the new leaseholder does not have to honour any personal agreement to extend. in fact even the original leaseholder is not bound by law to extend as it can only be a personal agreement.

Not sure what has happened to that real estate company, maybe it has been sold on?

Mike.

[lordofdelusion]

FBA 2 or so called, is the new ingenious idea from politicians to close the loophole which allowed farangs to own land through the company route.

As reported the (Hardliners) also now want to enforce Thai management to qualify as a Thai company, time will tell.

A leasehold is without doubt secure in law, The problems arise 30years down the road as the leaseholder could have sold on.

This means that the new leaseholder does not have to honour any personal agreement to extend. in fact even the original leaseholder is not bound by law to extend as it can only be a personal agreement.

Not sure what has happened to that real estate company, maybe it has been sold on?

Mike.

What are the possibilities/ problems/ benefits, of buying the land in my Thai spouses name and having her give me back a 30 year lease? I'll be gone by then but the land would pass to my wife and daughter .

[mark100]

FBA 2 or so called, is the new ingenious idea from politicians to close the loophole which allowed farangs to own land through the company route.

As reported the (Hardliners) also now want to enforce Thai management to qualify as a Thai company, time will tell.

A leasehold is without doubt secure in law, The problems arise 30years down the road as the leaseholder could have sold on.

This means that the new leaseholder does not have to honour any personal agreement to extend. in fact even the original leaseholder is not bound by law to extend as it can only be a personal agreement.

Not sure what has happened to that real estate company, maybe it has been sold on?

Mike.

Thankss for the info. Mark

[think_too_mut]

Anything priced sensibly will sell. Just dont go paying stupid money for something that cost a few hundred thousand Baht to build.....Land price + build cost + 40% is how to correctly value a property....2-3 million for a 3 bed bath house on half rai close to the center is about right.....

Pity Hua Hin is on the wrong side of everything. Now even more pronounced with the new airport.

Hua Hin may like that the industry is concentrating at the eastern seaboard, but so are the jobs and people. And the money they earn and spend.

With five (yes, FIVE) hours drive from BKK, under constant fear I might kill a motorbiker along the way, it's losing to the place so inferior when it comes to the feeling of a resort - to Pattaya and the scraps around it.

Poor Hua Hin. It should have stayed the way it was.

Hope, one day, but in this century, it gets a swimming pool. Or maybe, a water park. Maybe a hospital, better supermarket and, why not - a school that teaches English.

For now, - it's left to the dreams of once in life time package working class holidaymakers from Holland and Sweden to pay what seems cheap to them.

I love you Hua Hin. Sorry to see you being raped by the developers and baby boomer retirees.

[easer]

Don't expect Americans to be coming to Hua Hin in droves to purchase real estate. I suppose hundreds or thousands of Americans of retirement age know that I retired in Thailand, and not a one of them has ever asked me about settling here. Educated folks in the USA spend virtually no time even mentioning the existence of Thailand.

Nobody knows how many farang are in Thailand, let alone in Hua Hin. Nobody ever has come to my door counting long noses or blond hair. The largest group of farang I recall bumping into in HHin were what my late mother would have called "Scandahoovians."

Educated folks in Usa?? Bald statement. I wonder if they virtually spend time mensioning the existence of ANYTHING outside Usa.

Lets go back to landprices: what area is most prisworth?

[PeaceBlondie]

Don't expect Americans to be coming to Hua Hin in droves to purchase real estate. I suppose hundreds or thousands of Americans of retirement age know that I retired in Thailand, and not a one of them has ever asked me about settling here. Educated folks in the USA spend virtually no time even mentioning the existence of Thailand.

Educated folks in Usa?? Bald statement. I wonder if they virtually spend time mensioning the existence of ANYTHING outside Usa.

Lets go back to landprices: what area is most prisworth?

easer, I worked with Americans with two or three degrees each in accounting and law, who are now retiring on pensions of $4000 each (many of them married to peers). My friend (BS, MS, PE, etc.) asked me to join him and his friend (BA, MA) on a holiday to Thailand; I'd never even thought of it until then, after living abroad. Steven (BS, MS. Ph.D.) was courteous enough to ask about Thailand, but now that he and Barb (retiring as a GS-13) can visit, they never even think about it (Steven is a native of Scotland who is now a US citizen).

Back to Hua Hin. ThinkTooMutt (who is not a Pattayan or a potty-man), made a lot of good points about Hua Hin not being the best place to settle. HHin doesn't need a waterpark, but a public pool would be reasonable, and a decent hospital within the next five years. It's still got a lot of rich Thais on the weekends. It's a holiday resort. I think comparisons to Pattaya are ludicrous, but they persist.