Hua Hin Experiences Rise in Property Prices Amid Pandemic

Real estate agents have reported an increase in property sales and prices in Hua Hin, located about three hours south of Bangkok.

Offering sandy beaches and good restaurant options in a calm and relaxing environment, the city has become a getaway that allows people to escape the urban zones’ hustle and bustle, traffic, and pollution.

The capital’s residents have also escaped to Hua Hin while fleeing coronavirus restrictions amid a devastating pandemic, especially on weekends.

So far this year, property sales in the city have surpassed 2019 and 2020 figures combined, luxury developer Banyan Thailand said. Prices range from 8 million baht ($235,000) for a condo to 80 million baht ($2.3 million) for villas with land and pools.

Tjeert Kwant, group CEO of Banyan Thailand, said: “Hua Hin is to Bangkok what the Hamptons is to New York,” describing the city as a safe and spacious place for upper-middle-class and upper-class people living in metropolises to escape.

Bangkok and other Thai provinces faced strict restrictions that forced restaurants, parks, gyms and shopping centers to close. However, Hua Hin had fewer than 80 deaths and closed its public spaces only during the latest and most intense Covid-19 wave.

The tourist destination has attracted some exiles from big cities amid the health crisis.

According to Artitaya Kasemlawan of CBRE, Thailand’s leading consulting firm, buyers are looking for places to prepare in advance for unexpected circumstances and “properties considered as their safe haven.”

Demand for condos in Hua Hin is also expected to increase jobs.

Local authorities have administered two Covid-19 vaccine doses to more than 70% of Hua Hin’s population. Therefore, the long-awaited “Hua Hin Recharge” plan is underway, allowing foreign tourists to enter the city from November 1.

Meanwhile, the government has decided to invest in the resort’s Asia-focused future. Its small airport had been set for expansion works, expecting to allow direct flights from China, India and South Korea by 2024 –which could also increase Hua Hin’s property prices.