Blackandwhite Posted November 7, 2010 Share Posted November 7, 2010 Hello all, I have been looking through the prices for properties in Hua Hin for sometime and it seams that HH is very expensive to buy property but it also appears that there is lots out there with not much selling, is that because the prices are too high or there is just to much of it ?? Not moaning or wishing to cause offence but just interested in thoughts. Link to comment Share on other sites More sharing options...
stander Posted November 7, 2010 Share Posted November 7, 2010 The house prices in Hua Hin are definitely down compared to say two years ago and the main issue is that supply is outstripping demand. The explosion of property developments in HH in recent years has mainly been down to the Thai investors encouraging foreign investment. The Thai investor understands that the foreign investor is looking for a quick return, so they use them as the front man and when the development goes south the foreigner takes all the flak and the Thai investor buys him out at a pittance. Now how do I know this, well my wives family have been taking advantage of this and have turned over quite a few farang wideboys over the last 20 years. Link to comment Share on other sites More sharing options...
johnnyk Posted November 7, 2010 Share Posted November 7, 2010 How about the western world's economy is in the tank? The western world is where the customers are for HH houses. Link to comment Share on other sites More sharing options...
stgrhe Posted November 8, 2010 Share Posted November 8, 2010 Only some properties (houses that is) costing less than five millions are moving to some degree. The rest of the market is dead. The condo market aimed for the Thais are a different game altogether and is selling reasonable well. Link to comment Share on other sites More sharing options...
hhfarang Posted November 8, 2010 Share Posted November 8, 2010 I agree with all of the above. Some houses have come down in price and some people stubbornly refuse and keep their home at the same price it was worth before the economic downturn. Hua Hin indeed was over built a few years ago during the "boom" so there are a lot of houses on the market and it's true that the lower priced ones are still selling. I know one developer who is working on his 5th development and is selling out each one as fast as he can build with prices ranging from 5 to 10 million, but his build quality is very high. Other developments have simply stalled. I have a very big custom western style home on a rai and a half of manicured gardens in a good location. During the boom it would have brought around 25 million judging by comparable sales that I know of, but we have it on the market now at a one third reduction from that price and there is little interest. At least 50% of the people who buy homes here are buying them for holiday homes and only intend to use them one or two months a year so that's why the lower priced homes are mostly what is moving now. Link to comment Share on other sites More sharing options...
ESB7 Posted November 9, 2010 Share Posted November 9, 2010 I agree with all of the above. Some houses have come down in price and some people stubbornly refuse and keep their home at the same price it was worth before the economic downturn. Hua Hin indeed was over built a few years ago during the "boom" so there are a lot of houses on the market and it's true that the lower priced ones are still selling. I know one developer who is working on his 5th development and is selling out each one as fast as he can build with prices ranging from 5 to 10 million, but his build quality is very high. Other developments have simply stalled. I have a very big custom western style home on a rai and a half of manicured gardens in a good location. During the boom it would have brought around 25 million judging by comparable sales that I know of, but we have it on the market now at a one third reduction from that price and there is little interest. At least 50% of the people who buy homes here are buying them for holiday homes and only intend to use them one or two months a year so that's why the lower priced homes are mostly what is moving now. 16 Million Baht is approx 350,000 Sterling or $500,000....no wonder you havnt had any interest. Even in the boom times properties at that price were rarely selling, now a recession, its unlikely a foreigner would pay anything like that for something they never really own....Have you tried targeting the Thai market, land, condos and up market properties in Cha am are being snapped up by Thais at the moment,,50 wah next to me went on the market last week at 750,000 and was sold the next day to Thais....that equates to almost 6mil a Rai... Link to comment Share on other sites More sharing options...
travelmann Posted November 13, 2010 Share Posted November 13, 2010 I agree with all of the above. Some houses have come down in price and some people stubbornly refuse and keep their home at the same price it was worth before the economic downturn. Hua Hin indeed was over built a few years ago during the "boom" so there are a lot of houses on the market and it's true that the lower priced ones are still selling. I know one developer who is working on his 5th development and is selling out each one as fast as he can build with prices ranging from 5 to 10 million, but his build quality is very high. Other developments have simply stalled. I have a very big custom western style home on a rai and a half of manicured gardens in a good location. During the boom it would have brought around 25 million judging by comparable sales that I know of, but we have it on the market now at a one third reduction from that price and there is little interest. At least 50% of the people who buy homes here are buying them for holiday homes and only intend to use them one or two months a year so that's why the lower priced homes are mostly what is moving now. 16 Million Baht is approx 350,000 Sterling or $500,000....no wonder you havnt had any interest. Even in the boom times properties at that price were rarely selling, now a recession, its unlikely a foreigner would pay anything like that for something they never really own....Have you tried targeting the Thai market, land, condos and up market properties in Cha am are being snapped up by Thais at the moment,,50 wah next to me went on the market last week at 750,000 and was sold the next day to Thais....that equates to almost 6mil a Rai... Last Time I was in Cha am it was dead as a dodo for all sales, the agents were pestering me senseless to buy something. Link to comment Share on other sites More sharing options...
johnnyk Posted November 13, 2010 Share Posted November 13, 2010 HH was overbuilt following the tsunami and there's a housing glut now. But these things self-correct as builders go out of business or stop building or grab the cash and run. Remember, owners can ask what they want but the real price is what the buyer is willing to pay. Link to comment Share on other sites More sharing options...
katabeachbum Posted November 14, 2010 Share Posted November 14, 2010 HH was overbuilt following the tsunami and there's a housing glut now. But these things self-correct as builders go out of business or stop building or grab the cash and run. Remember, owners can ask what they want but the real price is what the buyer is willing to pay. and most of the overbuilding took place in non attractive locations. asking prices in these locations are usually way over market value Link to comment Share on other sites More sharing options...
juehoe Posted November 14, 2010 Share Posted November 14, 2010 South of Hua Hin, in the Khao Tao area, 1 Rai are offered for between 1.5 and 4 million Baht. Link to comment Share on other sites More sharing options...
katabeachbum Posted November 14, 2010 Share Posted November 14, 2010 South of Hua Hin, in the Khao Tao area, 1 Rai are offered for between 1.5 and 4 million Baht. one rai can easily be bought at 1,5 million in Hua Hin Muang, but prime location near town and beach is more like 30 million baht upwards Link to comment Share on other sites More sharing options...
ESB7 Posted November 15, 2010 Share Posted November 15, 2010 I agree with all of the above. Some houses have come down in price and some people stubbornly refuse and keep their home at the same price it was worth before the economic downturn. Hua Hin indeed was over built a few years ago during the "boom" so there are a lot of houses on the market and it's true that the lower priced ones are still selling. I know one developer who is working on his 5th development and is selling out each one as fast as he can build with prices ranging from 5 to 10 million, but his build quality is very high. Other developments have simply stalled. I have a very big custom western style home on a rai and a half of manicured gardens in a good location. During the boom it would have brought around 25 million judging by comparable sales that I know of, but we have it on the market now at a one third reduction from that price and there is little interest. At least 50% of the people who buy homes here are buying them for holiday homes and only intend to use them one or two months a year so that's why the lower priced homes are mostly what is moving now. 16 Million Baht is approx 350,000 Sterling or $500,000....no wonder you havnt had any interest. Even in the boom times properties at that price were rarely selling, now a recession, its unlikely a foreigner would pay anything like that for something they never really own....Have you tried targeting the Thai market, land, condos and up market properties in Cha am are being snapped up by Thais at the moment,,50 wah next to me went on the market last week at 750,000 and was sold the next day to Thais....that equates to almost 6mil a Rai... Last Time I was in Cha am it was dead as a dodo for all sales, the agents were pestering me senseless to buy something. Read the post properly.......are you Thai or a Foreigner??? Link to comment Share on other sites More sharing options...
Doc50 Posted November 18, 2010 Share Posted November 18, 2010 All of Hua Hin and Thailand for that matter they use the BUILD IT AND THEY WILL COME plan of research for the need, and marketing of real estate. Thais will very rarely go down in price. Renting is the way to go in Thailand. Link to comment Share on other sites More sharing options...
katabeachbum Posted November 19, 2010 Share Posted November 19, 2010 All of Hua Hin and Thailand for that matter they use the BUILD IT AND THEY WILL COME plan of research for the need, and marketing of real estate. Thais will very rarely go down in price. Renting is the way to go in Thailand. have done many deals with thais, and they certanly go down in price as soon as they consider you a real buyer Link to comment Share on other sites More sharing options...
ESB7 Posted November 19, 2010 Share Posted November 19, 2010 All of Hua Hin and Thailand for that matter they use the BUILD IT AND THEY WILL COME plan of research for the need, and marketing of real estate. Thais will very rarely go down in price. Renting is the way to go in Thailand. Another one that can afford to buy :D Link to comment Share on other sites More sharing options...
juehoe Posted November 20, 2010 Share Posted November 20, 2010 (edited) Renting is the way to go in Thailand. Renting is a good way to start. It is flexible and you can test the location, the infrastructure and if its possible to live there. To my personal experience, houses for rent are often of cheap quality. But is was a good starting for building a house because I could learn what things I don't want to have... As other mentioned, house prices are still (too) high in Hua Hin. On the other side, many contractors have built too many houses for the market and often you can get respectable promotion, like a car. The condo market is still hot because many Bangkok Thais want to buy a condo in Hua Hin. Edited November 20, 2010 by juehoe Link to comment Share on other sites More sharing options...
dansat Posted November 20, 2010 Share Posted November 20, 2010 (edited) All of Hua Hin and Thailand for that matter they use the BUILD IT AND THEY WILL COME plan of research for the need, and marketing of real estate. Thais will very rarely go down in price. Renting is the way to go in Thailand. Another one that can afford to buy :D Question for ESB7 . How long did it take you to apply for and receive your Thai Passport ? It sounds like you are one of the lucky few Farangs who has a Thai passport and can afford to buy land and a house Well done , but please tell us about your process of getting the Thai Passport..... i am assuming you have a Thai Passport other wise how could you buy a house Edited November 20, 2010 by dansat Link to comment Share on other sites More sharing options...
hhfarang Posted November 21, 2010 Share Posted November 21, 2010 Well done , but please tell us about your process of getting the Thai Passport..... i am assuming you have a Thai Passport other wise how could you buy a house It's easy to buy a house without a Thai passport, you just can't buy the land underneath it! I bought (built) my house, but the missus owns the rai and a half it sits on. If we split I just have to figure out a way to move the house... Link to comment Share on other sites More sharing options...
katabeachbum Posted November 21, 2010 Share Posted November 21, 2010 Well done , but please tell us about your process of getting the Thai Passport..... i am assuming you have a Thai Passport other wise how could you buy a house It's easy to buy a house without a Thai passport, you just can't buy the land underneath it! I bought (built) my house, but the missus owns the rai and a half it sits on. If we split I just have to figure out a way to move the house... Or you own a town house with common pool,gym,parks and no need to own the land underneath the house Link to comment Share on other sites More sharing options...
ESB7 Posted November 21, 2010 Share Posted November 21, 2010 All of Hua Hin and Thailand for that matter they use the BUILD IT AND THEY WILL COME plan of research for the need, and marketing of real estate. Thais will very rarely go down in price. Renting is the way to go in Thailand. Another one that can afford to buy :D Question for ESB7 . How long did it take you to apply for and receive your Thai Passport ? It sounds like you are one of the lucky few Farangs who has a Thai passport and can afford to buy land and a house Well done , but please tell us about your process of getting the Thai Passport..... i am assuming you have a Thai Passport other wise how could you buy a house :lol: Link to comment Share on other sites More sharing options...
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