Hua Hin Market Statistics from Lazudi
In 2020 we saw the average property sale price at 5.9 million THB compared to 6.5 million THB in 2021. Average transaction prices in Hua Hin have increased over the past year. Finding that in 2020 there was a lot more discounted priced inventory from motivated sellers, sellers downsizing or selling due to travel restrictions. Most of the distressed sales have cleared which allowed the market to stabilise in 2021.
Overall transactions from holiday makers and overseas buyers have significantly dropped due to the travel restrictions. With the shortfall being made up from increased interest from the domestic market. Both Thai buyers and local expats, mostly from Bangkok with remote working becoming the new normal, pollution and improved infrastructure driving buyers from Bangkok (and other regions) to Hua Hin.
The bulk of the Hua Hin property transactions with local expats is with Landed property (Villas), 81% making up all transactions. Villas in Hua Hin offer exceptional value for space, privacy and amenities, such as private swimming pools and common area facilities within gated compounds. Comparing average property prices across other main developed regions of Thailand, such as Bangkok, Pattaya, Phuket and Samui, the Value for money in Hua Hin is another main differentiator.
Within the Thai Market we noticed a very clear divide of two main market segments. First for low cost, smaller condo units close to the beach, within the budget range of 900K to 2.5 million THB. Secondly a higher end market emerging, for luxury new developments, landed beachfront detached houses and vacant land. With budgets starting from 16 million THB to 80 million THB.
Overall the average property enquiry in 2019 was 8 Million THB with that climbing to 9.9 million THB in 2021 so far.
*Data provided by Lazudi enquiries and transactions over the past 3 years.
