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Is It The Right Time To Buy Property In Hua Hin


andrew rohan

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Hi Lads,

Do you think if it is the RIGHT TIME to purchase a holiday apartment in HUA HIN.

I mean what is the property market like? Is it a buyes market,does anyone think that the prices will come down due to the current financial climate.

Thought's and comments very much appreciated.

Take care lads

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

I bought my house in 2006 for a good price and its increased by at least 50% so I am happy with my buy. That said I have no intenrtion of selling!

Some of the prices are dropping and its a buyers market now.

Personally I think that prices will drop further so I would keep your options open. Try and get a bargain if not just wait 6 months --1yr and then you will definetly get a bargain.

There is an over supply of properties in Hua Hin so I would take your time. Do your research or get someone who knows the market and then make your move. Get someone to help you with the legal stuff such as the transfer of the property.

Solicitor??

I did the transfer myself and its not ideal and I dont recommend it!

Also what are you buying? House or Condo?

Are you buying with Thai Co or leashold?

Good LucK!

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Some developers are stubborn and holding to their prices but others need to make sales, hard to know unless you speak to them. But be careful if a project isn't complete, you don't want to live on a building site for years to come.

You could always look around for distress sales from owners who need to sell. I'm sure there are a few of those!

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

I bought my house in 2006 for a good price and its increased by at least 50% so I am happy with my buy. That said I have no intenrtion of selling!

Some of the prices are dropping and its a buyers market now.

Personally I think that prices will drop further so I would keep your options open. Try and get a bargain if not just wait 6 months --1yr and then you will definetly get a bargain.

There is an over supply of properties in Hua Hin so I would take your time. Do your research or get someone who knows the market and then make your move. Get someone to help you with the legal stuff such as the transfer of the property.

Solicitor??

I did the transfer myself and its not ideal and I dont recommend it!

Also what are you buying? House or Condo?

Are you buying with Thai Co or leashold?

Good LucK!

I am thinking of a freehold Condo 2 bed around 3.5m THB. Thank you very much for your input.

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

I bought my house in 2006 for a good price and its increased by at least 50% so I am happy with my buy. That said I have no intenrtion of selling!

Some of the prices are dropping and its a buyers market now.

Personally I think that prices will drop further so I would keep your options open. Try and get a bargain if not just wait 6 months --1yr and then you will definetly get a bargain.

There is an over supply of properties in Hua Hin so I would take your time. Do your research or get someone who knows the market and then make your move. Get someone to help you with the legal stuff such as the transfer of the property.

Solicitor??

I did the transfer myself and its not ideal and I dont recommend it!

Also what are you buying? House or Condo?

Are you buying with Thai Co or leashold?

Good LucK!

I am thinking of a freehold Condo 2 bed around 3.5m THB. Thank you very much for your input.

JohnnyK has some good points concerning distressed sellers!

If you check some of the real estate Web sites in HH there are some bargains available>

I think a Condo that is finished is a safe bet, plus its free hold and your budget is good. Im not sure that it will get you one by the sea though.

The exchange rate is bad at the moment. Maybe best to wait as it may improve.

Plus you will have more repossessions and distressed sales in the future.

So I would wait do some research check the market and get a good legal rep on board and you will be fine!

Siam property in HH are English and appear professional and also have their own solicitors! ( Apologies if I am not supposed to recommend agents).

I work in London and having a second home in HH works well for me!!

Cheers

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

Please stop recommending property agents if you don't know what's going on.

Just the fact that they have their own lawyers office should make you start thinking!!!!!!!!!!!!

They, for sure, will make everything easy for you because they want to make the deal.

Always go to your embassy and ask for a recommendation of a lawyer.

I will not talk about any agent in a forum because it's simply not fair. Positively or negatively.

Send me a PM if you want to know more.

Personally I think that prices will drop further so I would keep your options open. Try and get a bargain if not just wait 6 months --1yr and then you will definetly get a bargain.

There is an over supply of properties in Hua Hin so I would take your time. Do your research or get someone who knows the market and then make your move. Get someone to help you with the legal stuff such as the transfer of the property.

Solicitor??

I did the transfer myself and its not ideal and I dont recommend it!

Also what are you buying? House or Condo?

Are you buying with Thai Co or leashold?

Good LucK!

I am thinking of a freehold Condo 2 bed around 3.5m THB. Thank you very much for your input.

JohnnyK has some good points concerning distressed sellers!

If you check some of the real estate Web sites in HH there are some bargains available>

I think a Condo that is finished is a safe bet, plus its free hold and your budget is good. Im not sure that it will get you one by the sea though.

The exchange rate is bad at the moment. Maybe best to wait as it may improve.

Plus you will have more repossessions and distressed sales in the future.

So I would wait do some research check the market and get a good legal rep on board and you will be fine!

Siam property in HH are English and appear professional and also have their own solicitors! ( Apologies if I am not supposed to recommend agents).

I work in London and having a second home in HH works well for me!!

Cheers

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you dont need to deal with an agent if you are buying a condo , just go into the offices of any condo that you are interested in and enquire about units for sale , these juristic offices are obliged by law to then give you accurate information about any unit you are interested in and you will be able to deal directly with the owner rather than through an agent.

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

Please stop recommending property agents if you don't know what's going on.

Just the fact that they have their own lawyers office should make you start thinking!!!!!!!!!!!!

They, for sure, will make everything easy for you because they want to make the deal.

Always go to your embassy and ask for a recommendation of a lawyer.

I will not talk about any agent in a forum because it's simply not fair. Positively or negatively.

Send me a PM if you want to know more.

Personally I think that prices will drop further so I would keep your options open. Try and get a bargain if not just wait 6 months --1yr and then you will definetly get a bargain.

There is an over supply of properties in Hua Hin so I would take your time. Do your research or get someone who knows the market and then make your move. Get someone to help you with the legal stuff such as the transfer of the property.

Solicitor??

I did the transfer myself and its not ideal and I dont recommend it!

Also what are you buying? House or Condo?

Are you buying with Thai Co or leashold?

Good LucK!

I am thinking of a freehold Condo 2 bed around 3.5m THB. Thank you very much for your input.

JohnnyK has some good points concerning distressed sellers!

If you check some of the real estate Web sites in HH there are some bargains available>

I think a Condo that is finished is a safe bet, plus its free hold and your budget is good. Im not sure that it will get you one by the sea though.

The exchange rate is bad at the moment. Maybe best to wait as it may improve.

Plus you will have more repossessions and distressed sales in the future.

So I would wait do some research check the market and get a good legal rep on board and you will be fine!

Siam property in HH are English and appear professional and also have their own solicitors! ( Apologies if I am not supposed to recommend agents).

I work in London and having a second home in HH works well for me!!

Cheers

You are RIGHT mate,I won't employe a brief that the seller or the agent recommends/offer event if the service is FREE.

In January I put a deposit of 100,000 THB on a development due to complete in June/July, sale price at 3.5M THB. Freehold condo on land side,10 minutes drive to the town center,128sqm 2bed/2bath with private outside jacuzzi,build to european stands by a european company,very good construction.I wonder if the price is to much or by June/July if the prices will drop? Comments and Input please guys

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

Please stop recommending property agents if you don't know what's going on.

Just the fact that they have their own lawyers office should make you start thinking!!!!!!!!!!!!

They, for sure, will make everything easy for you because they want to make the deal.

Always go to your embassy and ask for a recommendation of a lawyer.

I will not talk about any agent in a forum because it's simply not fair. Positively or negatively.

Send me a PM if you want to know more.

Personally I think that prices will drop further so I would keep your options open. Try and get a bargain if not just wait 6 months --1yr and then you will definetly get a bargain.

There is an over supply of properties in Hua Hin so I would take your time. Do your research or get someone who knows the market and then make your move. Get someone to help you with the legal stuff such as the transfer of the property.

Solicitor??

I did the transfer myself and its not ideal and I dont recommend it!

Also what are you buying? House or Condo?

Are you buying with Thai Co or leashold?

Good LucK!

I am thinking of a freehold Condo 2 bed around 3.5m THB. Thank you very much for your input.

JohnnyK has some good points concerning distressed sellers!

If you check some of the real estate Web sites in HH there are some bargains available>

I think a Condo that is finished is a safe bet, plus its free hold and your budget is good. Im not sure that it will get you one by the sea though.

The exchange rate is bad at the moment. Maybe best to wait as it may improve.

Plus you will have more repossessions and distressed sales in the future.

So I would wait do some research check the market and get a good legal rep on board and you will be fine!

Siam property in HH are English and appear professional and also have their own solicitors! ( Apologies if I am not supposed to recommend agents).

I work in London and having a second home in HH works well for me!!

Cheers

You are RIGHT mate,I won't employe a brief that the seller or the agent recommends/offer event if the service is FREE.

In January I put a deposit of 100,000 THB on a development due to complete in June/July, sale price at 3.5M THB. Freehold condo on land side,10 minutes drive to the town center,128sqm 2bed/2bath with private outside jacuzzi,build to european stands by a european company,very good construction.I wonder if the price is to much or by June/July if the prices will drop? Comments and Input please guys

Actually the price is ok IMHO if the development is clean, means 51% Thai ownership, good quality, excellent management and so on and so on. But let it check by a lawyer that gives you his/her ok in a written form.

Actually i need the development name via PM then i can tell you more.

Many problems with developers who sold off plan and never finished. One made advertisement with Joe Cole and now closed their sales office.

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

I bought my house in 2006 for a good price and its increased by at least 50% so I am happy with my buy. That said I have no intenrtion of selling!

Good LucK!

Have you even tried to sell it at that 50% premium or are you just dreaming.

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

I bought my house in 2006 for a good price and its increased by at least 50% so I am happy with my buy. That said I have no intenrtion of selling!

Good LucK!

Have you even tried to sell it at that 50% premium or are you just dreaming.

Think its wishfull thinking. probably an estate agent or bodge buider.

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

I bought my house in 2006 for a good price and its increased by at least 50% so I am happy with my buy. That said I have no intenrtion of selling!

Some of the prices are dropping and its a buyers market now.

Personally I think that prices will drop further so I would keep your options open. Try and get a bargain if not just wait 6 months --1yr and then you will definetly get a bargain.

There is an over supply of properties in Hua Hin so I would take your time. Do your research or get someone who knows the market and then make your move. Get someone to help you with the legal stuff such as the transfer of the property.

Solicitor??

I did the transfer myself and its not ideal and I dont recommend it!

Also what are you buying? House or Condo?

Are you buying with Thai Co or leashold?

Good LucK!

I am thinking of a freehold Condo 2 bed around 3.5m THB. Thank you very much for your input.

A Condo "Freehold" , thats new, where would this be then????????????????????????????????

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Nothing is selling

could this mean that all those fancy flashy real estate offices that seem to have taken over the centre of town , and all those stickered up 4x4s that get all the best parking spaces , and all those pressed shirt wearing agents with their barbie doll big sunglassed thai wives , and all those thick as pigshit brit builder yobs with the tattood knuckles will be leaving town

please tell me yes.

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Nothing is selling

could this mean that all those fancy flashy real estate offices that seem to have taken over the centre of town , and all those stickered up 4x4s that get all the best parking spaces , and all those pressed shirt wearing agents with their barbie doll big sunglassed thai wives , and all those thick as pigshit brit builder yobs with the tattood knuckles will be leaving town

please tell me yes.

One can only hope, think you will see a difference in a few month's.

Missed the Barbie Doll Wive's though, not seen anything like that in Town.

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It is a buyer's market and a lot of property sellers have lowered their asking price, however, there are also those who stubbornly keep their price unrealistically high. Guess they are not desperate to sell right now.

I bought my house in 2006 for a good price and its increased by at least 50% so I am happy with my buy. That said I have no intenrtion of selling!

Some of the prices are dropping and its a buyers market now.

Personally I think that prices will drop further so I would keep your options open. Try and get a bargain if not just wait 6 months --1yr and then you will definetly get a bargain.

There is an over supply of properties in Hua Hin so I would take your time. Do your research or get someone who knows the market and then make your move. Get someone to help you with the legal stuff such as the transfer of the property.

Solicitor??

I did the transfer myself and its not ideal and I dont recommend it!

Also what are you buying? House or Condo?

Are you buying with Thai Co or leashold?

Good LucK!

I am thinking of a freehold Condo 2 bed around 3.5m THB. Thank you very much for your input.

A Condo "Freehold" , thats new, where would this be then????????????????????????????????

WYH can you NOT get FREEHOLD condo's,I Thought 49% can be sold as freehold?? Please clarify mate.

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Ave88 wrote:

A Condo "Freehold" , thats new, where would this be then????????????????????????????????

I don't know what Ave88 is talking about... Andrew Rohan and Malcolminthemiddle are absolutely correct about condo ownership. Condos can be owned (freehold) by a foreigner here. My wife has sold several to foreigners or foreign couples and they have all been freehold. A foreigner can on a condo, just not land. There is a rule on the books that says the building has to be 51% owned by Thais and 49% can be freehold owned by foreigners and even that never seems to be a problem here in Hua Hin as a lot of Bangkok Thais buy holiday condos here.

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Hi

My Thai Gf works in the Real estate buisiness and that s why I take an interest in it!

And No she does nt work for Siam Property!

We have had a lot dealings with most of the Agents down town and have found this one to be the most reliable thats why I recommended them? Just trying to help the newbie out!

Between the two of us we have bought and sold several properties in HH and Cha Am and the busienss is still doing well given the current climate. Sure things have slowed down. You just have to be realistic with your price, market it well and obviosly flexible with the selling periods.

I bought my house for just over 5 million in 2006 when the exchange rate was 69 Baht which equated to about £80K. The house sits on 900 Sq m of land with Pool and is 220 Sq m inside. So I think thats a reasonable price for a big house!

I now value it at 8 to 10 million = £160K to £200K

If I was desperate to sell which Im not but presume I want to sell it for 6 million then with the current exchane thats still £120K. A nice £40 K profit.

Either way it works well for me! And Yes property is still selling. We have just sold a large 4 bed on the Beverley Hills Development for a tidy sum. We dropped the price by half a million and it sold in 3 mths!

Some of the people giving advice here obviously dont work in the Real estate Buisiness so dont understand the true picture. Still its entertaining to hear your views!

Please dont give up your day jobs unless your thinking about going into comedy

I never realised that Condo s were Free Hold for farang?? Jing Jing!! :o

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Some of the people giving advice here obviously dont work in the Real estate Buisiness so dont understand the true picture. Still its entertaining to hear your views!

the true picture is that although there might be some sales , albeit at lower or heavily discounted prices , generally speaking there are acres and acres of unfinished ghetto projects , seemingly deserted building sites with one finished showhouse and a couple of finished houses occupied by luckless purchasers condemned to a lifetime of staring at sandy plots , concrete chunks and empty guards shelters.

only a misty eyed fool would buy into one of those projects , and there is certainly no shortage of foreign fools around in thailand these days , but even the most foolish here are capable of showing some sense and will waste their money on women and wine before lining the pockets of surely the most despised people in thailand , the foreign real estate brigade , those spoilers of the landscape , those purveyors of greed and selfishness , those losers who couldnt even make it in a rising market in their own countries who have come here and spread like a nasty virus , pushing property and land prices through the roof , making life very difficult for locals who would like to live in the areas they were born in and uglifying every inch of land they touch by turning it into a cement and steel bombsite.

sell up , take your profits and go home please.

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So Mr ZOOKA, who is in the real estate business in Hua Hin as an expert, sitting in the UK, who's gf doing fantastic business in Hua Hin.

Interesting! Why are you in the UK if everything works out so perfect in Thailand?

And don't forget about your gf my dear. This country is called LOL by expats not LOS.

Shut up, come here, live with your gf and work as an agent.

By the way LOL = Land of Lies........LOS = Land of Smiles

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So Mr ZOOKA, who is in the real estate business in Hua Hin as an expert, sitting in the UK, who's gf doing fantastic business in Hua Hin.

Interesting! Why are you in the UK if everything works out so perfect in Thailand?

And don't forget about your gf my dear. This country is called LOL by expats not LOS.

Shut up, come here, live with your gf and work as an agent.

By the way LOL = Land of Lies........LOS = Land of Smiles

NICE ONE BRO

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So Mr ZOOKA, who is in the real estate business in Hua Hin as an expert, sitting in the UK, who's gf doing fantastic business in Hua Hin.

Interesting! Why are you in the UK if everything works out so perfect in Thailand?

And don't forget about your gf my dear. This country is called LOL by expats not LOS.

Shut up, come here, live with your gf and work as an agent.

By the way LOL = Land of Lies........LOS = Land of Smiles

NICE ONE BRO

Yes, nice one. My wife works for one of the smaller agencies in town (she gets a lot of her business from the dissatisfied customers of the larger agencies when they come to her very frustrated about deals gone bad and time wasted). Be careful which agencies you use and search their names on any Thailand/Hua Hin forums you can find because a lot of them have a lot of unhappy customers or customers who lost their deposits when deals fell through, etc. One almost lost his life dealing with a developer who is part owner in one of the bigger agencies (and he bought the house he had the problems in using the biggest agency in town... um, I think it was recommended somewhere on this thread). My wife and any agent worth using does their homework and won't even show properties that have bad developers or have had complaints from the previous buyers. Use caution!

The market is slow, slow, slow, now and people are beginning to lower their prices but the only substantial reductions are from people who are forced to sell now because they desperately need the money.

I really like that "LOL instead of LOS"! How appropriate for the Hua Hin real estate market! :o

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So Mr ZOOKA, who is in the real estate business in Hua Hin as an expert, sitting in the UK, who's gf doing fantastic business in Hua Hin.

Interesting! Why are you in the UK if everything works out so perfect in Thailand?

And don't forget about your gf my dear. This country is called LOL by expats not LOS.

Shut up, come here, live with your gf and work as an agent.

By the way LOL = Land of Lies........LOS = Land of Smiles

NICE ONE BRO

Yes, nice one. My wife works for one of the smaller agencies in town (she gets a lot of her business from the dissatisfied customers of the larger agencies when they come to her very frustrated about deals gone bad and time wasted). Be careful which agencies you use and search their names on any Thailand/Hua Hin forums you can find because a lot of them have a lot of unhappy customers or customers who lost their deposits when deals fell through, etc. One almost lost his life dealing with a developer who is part owner in one of the bigger agencies (and he bought the house he had the problems in using the biggest agency in town... um, I think it was recommended somewhere on this thread). My wife and any agent worth using does their homework and won't even show properties that have bad developers or have had complaints from the previous buyers. Use caution!

The market is slow, slow, slow, now and people are beginning to lower their prices but the only substantial reductions are from people who are forced to sell now because they desperately need the money.

I really like that "LOL instead of LOS"! How appropriate for the Hua Hin real estate market! :o

Engel and Volkes, they give you honest information and do not take back hander's. the staff are not ex BG's either. (ex BG WHATS THAT).

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I am planning to buy a house in Hua Hin / Pranburi and have just spent two weeks doing my first survey of the market there. I took help from three different agencies by giving them inputs of my requirements and I also talked directly to developers. All three agencies I contacted were very professional and helpful so I really must question a lot of the negative talks about them on this forum. I also visited on my own a number of developments that the agents didn't recommend, based om my inputs that is, to found out for myself why these developments were not recommended. In none of the cases did I found the agents to be wrong.

It is sadly true that much too many property buyers have been cheated by wrong doing developers, but actually too many of the buyers really have themselves to blame. How can someone for instance:

(1) pay a deposit on something from outside Thailand without actually having seen the plot or the area;

(2) pay a large down payment (some developers ask for up to 30% down which I would never agree to with or without a guarantee) without some kind of guarantee from the developer, either through an escrow account (fair to say this option has not been available for such a long time) or e.g. an advance payment banker's guarantee; and

(3) fail to do due diligence?

If home buyers would only do their homework first and not be so naive most of the non-serious developers would probably be out of business and missed by none.

Since many of my Swedish countrymen have not chosen wisely when buying property in Thailand (remarks: in Sweden it is uncommon to use solicitors in property transactions because the customer rights are so strongly protected by the Swedish law) the Thai - Swedish Chamber of Commerce in Bangkok (http://www.swecham.com/index.php) have produced a booklet called "Best Practices Guidelines" (can be ordered from them for 2,500 baht) intended to be of a help for potential foreign house buyers in Thailand.

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