Hua Hin, Cha Am and Pranburi Residential Market 2H 2012
Cha Am is increasingly a focus for developers, partly because it is perceived as quieter and more convenient for Bangkok residents than Hua Hin, and partly due to the rising prices and limited availability of coast land in Hua Hin. More than 3,560 condominium units had been built in Cha Am by the end of last year, and more are scheduled to launch in 2013. Hua Hin, on the other hand, is still considered the best location for a more diverse vacation experience given the greater range of facilities such as hotels, entertainment, residential and retail development.
Condominiums are by far the most popular type of property being developed, comprising more than 78% of the newly-launched units in 2012. However, last year also saw approximately 1,850 landed development units launched in the three towns, the highest figure for the past ten years. Most of these houses are in the mid to low-end of the housing market, with prices below THB4 million.
The average take-up rate in the Cha Am, Hua Hin and Pranburi areas is approximately 58% for landed development projects and 55% for condominiums. Most people buying houses or condominiums in these areas are Thai, with the number of foreign customers falling considerably in recent years.
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2010
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