The Development Of Hua Hin’s Property Market
For the local Thais, Hua Hin remains to be a keen object of desire not only as a holiday destination but for property investment. Hua Hin Rentals are expected to increase as the beach continues to draw in the local folks. This means that property investment in Hua Hin can be worthwhile in terms of long term returns.
One of the most recent developments over the past few years is the Intercontinental Hotel that is entrenched in a prime beachfront location. With the opening of hotels, more and more people will be attracted to Hua HIn due to employment opportunities and this means higher demand for Hua Hin Rentals.
The Proud Group developer has also recently opened the massive water park Vana Nava and it is expected to draw in a huge following. A Bluport upscale shopping center with Bangkok’s Mall Group and a Holiday Inn branded resort is also under development. As Hua Hin continues with the steps to modernize, the dominance of domestic tourism casts a shadow on trading. Last year, at least 72% of the visitors of Hua Hin came from the domestic tourism market. It was 1% more than the previous year. Hotels are occupied by local tourists during weekends and holidays because of their preference for a tranquil resort destination.
However, last year Hua Hin suffered from serious fallout due to the political crisis with a decline of about 4% compared to the same period last year. But since the political situation has greatly improved, it is expected that Hua Hin will see more visitors.
On the real estate front, impressive projects are underway not to mention the massive condo surge. Despite being off the beach, it is clear that these projects will provide an increase in Hua Hin Rentals. There is little doubt that the thriving demand will grow from Thailand given its location of being near the nation’s capital which is also its main population base.
With the number of mega projects that are in the works including the proposed development of Hua Hin International School, it remains to be seen whether it will boost international tourism in a more substantial way than in the past years.