From the peak point back to the balance of the market
Condominiums that have been sold in Cha-Am, Hua Hin and Pranburi before, and have been left in the stock, have got the resale again in 2011 from the only project, the Energy Hua Hin, with almost 6 000 units. And that makes condominium market in Cha-Am being Over Supply, didn’t be as the concerns and affect the overall image of condominium market in Cha-Am. Because most of many units they have left are mostly from this project as well.
The Energy Hua Hin
The ENERGY project belongs to Baan Rajprasong Public Co., Ltd with the total area of around 180 Rai by having 34 residential building, the height of 8 floors divided in 2 phases with total living area around 144 Rai and the rest of area are used as facilities for the residents like big ozone pool with kid’s pool, Jacuzzi, chilling area, big garden, Key card, security guards and CCTV-system. There are various types of rooms as 1 bedroom-1bathroom, 2 bedroom- 1 bathroom, 2 bedroom – 2 bathroom and DUPLEX as 2 bedrooms and 2 bathrooms. The rooms are decorated and ready to just move in with air-condition, water heater, refrigerator, LED-Tv and microwave with the selling price starts at 1.8 million THB with special offer for the owners of getting membership of a sport center and fitness center for free for the rest of their life. The owners will get an offer to be a member of THE ENERGY which will give their members a lot of several services like THE ENERGY COMPLEX and many sport events at the sport complex for the rest of their life, no fee of any kind and can also use THE ENERGY POINT to exchange various in six stars hotel. This is so worth it!
Pictures from : https://pantip.com/topic/34938392
Pictures from : https://www.theenergy.co.th/
The project has right now a promotion to put the room out for an online auction with the campaign name “Best opportunity! A – auction X The Energy e-Bidding, an auction of condominium near the sea, starts with 0 THB” An auction of rooms with beautiful view, start from 0 THB, give a bid for only at least 10 000THB/time. And there will have 41 options in the auction, 43 units and 12 types of rooms to choose.
The example and information about the room from the auction
Condominiums that still on the selling process in Cha-Am, Hua Hin and Pranburi, divided by the selling year.
There are 19 800 condominiums units that sales in Cha-Am, Hua Hin and Pranburi right now and almost 30% are from the project, The Energy Hua Hin. And even if we count this project out from other, the number of selling condos are still higher than other areas as well. Because there are now condos that come out for sale around 915 units per year if you count from 2012, while other area has less than 300 units per year. Pranburi is the area that only have 493 units in total because the location is quit far from various facilities and it takes longer travel time than to Cha-Am and Hua Hin. That’s why number of tourists are less than Cha-Am and Hua Hin including number of people who want to but condominiums too.
Condos that still on the selling process in Cha-Am, Hua Hin and Pranburi, divided be the project’s location.
Of all 19 080 condominiums units that sales in Cha-Am, Hua Hin and Pranburi right now, there are almost 13 902 units or 73% from Cha-Am. Which is clearly much more than condominiums in Hua Hin and Pranburi as you can see. Even if Hua Hin is more popular than Cha-Am among tourists, but this location has got more attention since back of the time. Therefore, resulting into the development of various projects, especially resorts, in most of the areas. There are not much land left for development. Developers have to but lands in Cha-Am or border between Cha-Am and Hua Hin to develop condominium projects. Including the area on the south of Hua Hin like Khao Takiab, Khao Tao or even Pranburi. Besides, areas on the west side of the Phetkasem Road which is not adjacent to the sea have also got a lot of attentions from developers to develop more condominiums. Because there are much more land left and the land-prices are cheaper than on the east side of Phetkasem Road is area that is not so far from the sea. They can then just choose the area and start the development of condominiums with lower prices than projects near the sea as they want to.
Another upper-class project around Cha-Am and Hua Hin is Thew Talay Estate which consists of 3 beachfront condominiums projects, luxury 5 stars hotel, Branded Residence BaBa Beach Club that is under the management of the famous Sri Panwa Hotel in Phuket that everyone has a dream to visit once in the life. There are also romantic restaurant by the sea and Community Mall with area of almost 110 Rai that belongs to Issara United Co., Ltd.
Baba Beach Club Hua Hin
Pictures from : https://www.bababeachclub.com/th/huahin
Condominiums that still on the selling process in Cha-Am, Hua Hin and Pranburi, divided by the location of the projects.
There are a lot of projects on the same side as the sea that usually not located by the sea both in Cha-Am and Hua Hin. For projects in Pranburi, it may be sufficient to say that they are close to the beach because there is only beach road between the sea and the projects. While condominium projects at the mountain side or the side that is not closed to the sea, if we use Phetkasem Road as a dividing line, we can then see that they are more condominium projects than the beach side, because of the lack of the land at the sea-side of Hua Hin. The land at the mountain-side have got more attention by developers for the last 2-3 years, because the prices are much cheaper. And also because Bangkok-people are the main group of customers and they may not want to be there too often. By having condominium projects with beautiful facility area and be a good place to just relax and chill, it is really more interesting than having condominium by the sea which is more expensive. And also because of Thai people usually don’t like sunbathing for darker skin like foreigners. Therefore, it is not necessary that vacation homes of Thai people must be attached to the beach. Condominium projects on the opposite side as the sea are more popular among developers and buyers, but they must have beautiful design including beautiful facility area that is suitable to relax and chill during weekend.
Another most famous project of Hua Hin at the mountain side is Mahasamutr Villa project, under the management of Face Development, which is vacation homes of 80 houses, the project area of 55 Rai. Thera are 4 types of villa-design with the size of 447 sq.m. – 587 sq.m. with 4 bedrooms, 5 bathrooms and parking area for 3 cars. The distinctive point of the project is the creation of big Crystal Lagoon to replace the sea, which is the biggest one in Asia by having 800 meters long and are 2,5 meters deep. It has beautiful and clean beach with clear water including the first private club of Hua Hin with the name Mahasamutr Country on the area of almost 75 Rai and a lot of high-end facilities that meet the requirement of all kind of relaxations.
It is the project that located at the inner area of Hua Hin. To have the location that is not attached to the sea do have many positive advantages. Whether it is near to the mall, hospital, there are restaurants and many markets. If you want to go to the beach, you just need to go across the road and see the ocean with your own eyes. Most of people who choose the projects that are not attached to the sea usually like the conveniences of other kind. The projects that is not attached to the sea but located in the middle of Hua Hin city that we will give some example are
The La Casita Condominium Project, Low Rise condo of 4 buildings A-D with total 705 units on the area of almost 6 Rai. They are 2 types of rooms, 1 bedroom 26.50 – 37.50 sq.m. and 2 bedrooms 48.25 – 91 sq.m. with the ceiling height of 2.5 meters and sales as Fully Furnished. The project has a Spanish design and focused on the big facility area of almost 4 000 sq.m, 100 meters swmming pool. This vacation condo with Spanish architecture is located near the Bangkok hospital Hua Hin and have Bluport and Market Village on each side.
The distinctive point of this project is the pastel color design of grey-brown. The A-building is designed as Single Loaded Corridor with highly privacy and the A-building is the only building that has 2 volume lobby, the best location.
The 1 bedroom of 35 sq.m. with the inner view, safe from the blocking to the future view and more peaceful. More than that, you will get the pool-view along the room, and there are only 6 rooms that have the view like this. This is good to invest and Sansiri give the permission to Hostmaker to manage the rental.
La Habana Hua Hin
New condo resort from famous developer like Sansiri beside Cicada Market with starting price at 2.19 million THB. The condo has 8 floors, 3 buildings and 2 floors at another building, 652 units with 4 types of rooms. They are 1 bedroom- 1 bathroom of 25.00 – 28.25 sq.m, 1 bedroom (M) – 1 bathroom of 32.75 – 40.25 sq.m, 2 bedrooms (M) – 1 bathroom of 49.50 – 57.00 sq.m. and 2 bedrooms (L) – 2 bathrooms of 61.00 – 98.75 sq.m. The total area of the project is almost 6 Rai, closed to the sea, surrounded by 5 stars hotels and also closed to famous eating, drinking places like Cicada Market and Tamarind Market. Including the outstanding Spanish Colonial architecture and has got inspiration by amazing Cuba-design with focused on the exquisiteness on material selection and mix with the colorful facilities like swimming pool of almost 1000 sq.m. including facility area of almost 4000 sq.m. This project will be finished at Q4 of 2020.
Pictures from : https://www.sansiri.com/en/condominium/la-habana-hua-hin/
MARVEST HUA HIN
Marvest Hua Hin project, new condo at the middle of Hua Hin city by Major Development. It is a condo of 8 floors, 2 buildings with 336 units on the total area of 3 Rai. There are 3 types of rooms, Type A: 30 sq.m, Type B: 39-40 sq.m. and Type C: 60sq.m. and the ceiling height of 2.4 meters, which comes with many facilities inside the project. Whether they are 50 meters swimming pool, waterfall curtain, green park and kid’s playground, jacuzzi, fitness room and CCTV-system.
Fetured by the design of Modern Coastal, with an aura of the sea and gives the vacation home by the sea-feeling for those who lives there. And it also surrounded by nature like the shadow from big trees and the big swimming pool which will give the relax-feeling when stay there. The starting price is from 2.3 million THB and the project may by finished in December 2019.
Pictures from : https://marvesthuahin.mj-one.net/?channel_id=2379&utm_source=google&gclid=CjwKCAjwzPXlBRAjEiwAj_XTEaVttPAnzL68QQKGckvf26Baj6cee9hl_lbRb-XhWrJtD-3GhwWkJBoCg_QQAvD_BwE
And also by being condo far from the sea, you will instead get the price that is not to high. Condos that are closed to the sea usually have the price per square meter around 100,000 – 150,000THB. But if it is on the other side, the prices usually be lower than 100,000 THB as well. And those projects used to add some more value by focus on the big and shady facility area, beautiful swimming pool, which will create a long-term value for the owners. The room that has the view of facility area used to have higher price than other. Another value is to put in the management as a hotel so the owners don’t have to worry about the room when they don’t live in the place on the week day, because they are working in Bangkok. To have some company that can manage the rental or take care about the cleaning, there are a Guarantee Yield in some project, is one of the interesting selling points, for example DUSIT D2 RESIDENCES หัวหิน
Dusit D2 Residences Hua Hin project is the Low-Rise condo of 8 floors, 2 buildings (A, B) with 364 units under the development of Enrich State Co., Ltd on the area of 3-1-63 Rai. They have the floor-plan of the project as a opposite L around the garden and the pool in the middle. The project is located at the middle of Hua Hin and closed to Bluport Shopping Mall of only 400 meters and also closed to Ferri-pier with many Facilities like Infinity Edge Pool, Grand panoramic lobby, Semi-outdoor lobby, Exclusive Co – working space, Fitness, Exclusive service และ Mobile Key Access
There are 4 types of rooms, the Studio of 26 sq.m., 1 Bedroom of 29 sq.m., 1 Bedroom Corner of 33 sq.m. and 1 Bedroom Suite of 41 sq.m. The design of the project is focused on the white and brighter colors to give the luxury and cleaner feeling and also focused on the green area around the project which will give the feeling of the nature when stays there.
But for the last 2 years, there are new condo opened attached to the sea, which is not a usually project, but it is the project with the management as a hotel and has the outstanding design around Khao Takiab. That is Veranda Residence Hua Hin, Low-Rise condo of 5 buildings, 3-7 floors with 270 units on the total area of 11-0-81 Rai. There are 4 types of rooms, which are 1 Bedroom, 2 Bedrooms, 3 Bedrooms (you can choose between 2 bathrooms and 3 bathrooms) and Sky Penthouse.
The project has the design of Modern Contemporary, which is their way of design as usual, that design as a boutique hotel and focused on the modern interior. Including the furniture selection of it own design to give the balance to the overall interior as well.
Pictures from : http://www.verandaresidencehuahin.com/?gclid=CjwKCAjw7_rlBRBaEiwAc23rhk-eqYycwvwGRl5VfnutuG2ECLkJd4mmb5PLoy5qNJ4L_nRqAZnjDhoC3t4QAvD_BwE
Condominiums that still on the selling process in Cha-Am, Hua Hin and Pranburi, vidided by the location and the selling price.
There are most cumulative condominiums in Cha-Am. So, that’s why they have most variation of the price when comparing with other area, which has the most of the price between 3-5 million THB per unit. While condominiums in Hua Hin has the most market share with the price between 2-3 million THB per unit. Because new project in this area are located far from the beach and the price are not that high.
Check out the statistic, which room type, what price has got the most attention.
If we are discussing the room type of 1 Bedroom, which sales the most or it is 65% of all condominiums in the market, we can see that the room type of 1 bedroom mostly sales at the average price between 80,000 – 100,000 THB per square meter. And have the proportion of 58% of the type of 1 bedroom in the market. Condominium projects at the sea-side have clearly higher selling price than at the east side of Phetkasem Road or the mountain side.
The average price of condominiums that still on the selling process in Cha-Am, Hua Hin and Pranburi, divided by the location.
Condominiums that are located at the sea-side have an absolutely higher price than at the other side, which have 40% higher at the average price than at the mountain side. Because the land prices are more expensive and it is the important variable to set the selling prices of condominiums in this area, while the projects at the mountain side usually don’t have a high selling price. But some big developer has also opened the selling price which is higher than other projects in the same area. That is because they have unique and beautiful design which is different from other condominium projects in the area, which gives more value and get more attentions of the beautiful facility area, suitable for the relaxation. Or some of the projects are located near the water park which is the most famous location of Bangkok-families. And it makes projects that located around the park has the higher selling price and has more selling number than other.
Bella Costa Hua Hin
Bella Costa Hua Hin, Mediterranean condo near the sea with the inspiration by the romantic sea. The design that give the different feeling of relaxation at the beach of Khao Tao, because Khao Tao is more peaceful than in Hua Hin and Cha-Am city, which gives the feeling of a private beach and there are only a few condos in this area so far. But Bella Costa that sales with the selling price of more than 1 hundred thousand per square meter for the room type of Ocean Front, still have a good attention by Bangkok people who are looking for the peaceful relaxation by the sea.
The project creates the outstanding building by designed in various colors on the area of 11-3-13 Rai. This is a Low-Rise condo that has 2 building of 7 floors and 4 building of 4 floors, total 6 buildings with 323 units. With 4 room types, they are 1 bedroom of 45-56 sq.m., MOFF Design room of 62.5 – 81.5 sq.m., 2 bedrooms of 60-67 sq.m. and 3 bedrooms of 78-96 sq.m. And facilities that the project has like 3 luxury style of swimming pools, only a few steps from the sea, Romantic Park just to indulge the romantic nature in the park, Jacuzzi to complete the relaxing day and playground for the kids of the starting price at 3.99 million THB.
The average selling number of condominium in Cha-Am, Hua Hin and Pranburi, divided by the price level.
There are around 72% of the average selling number of condominiums that still in the selling process in Cha-Am, Hua Hin and Pranburi. There are 5,000 units left in the area, and these number is the main factor that developers have to put the speed on the selling of condominiums in the stock by having a lot of special promotions, discounts or adding some gifts including the selling with guarantee of the return of an investment. And most of the guarantees are to set the compensation goal at 6-8% within 3 years.
The notable thing is, condominium with the price level of more than 10 million THB per unit have the selling number of almost 83% because many projects have been in the market for a long time and have already finished the construction. And most of them are located by the sea or not so far from the sea, with walking distances. However, units that sales with the price more than 10 million THB per unit are the bigger unit with the size from 64 sq.m. and up to 392 sq.m. in order to various projects. And it makes condominiums in this price level more interesting for those who want a bigger place in Cha-Am, Hua Hin and Pranburi but still don’t want to buy a house or a pool which will be a burden in the future. Because the buyer use the house or condo as the vacation home only in the weekend or holidays, and condominiums is the one that really meet the requirement more than houses projects.
Average selling number of condominiums in Cha-Am, Hua Hin and Pranburi, divided by the area.
Source: Khun Surachet Kongcheep, Managing Director at Phoenix Property Development & Consultancy Co., Ltd
Condominiums in Pranburi may have the least selling number of the condominium market in Cha-Am, Hua Hin and Pranburi because it is far from famous attractions that people used to visit, which used to end at Hua Hin. To travel all the way to Pranburi will take more time and various things in Pranburi are still lower than Hua Hin. But if someone really want a peaceful relax, Pranburi is one of the interesting places to visit.
The selling number of the condominium in the area during 2019 may not be much different from the ending Q1 of 2019, because this is the tourist area mostly for Bangkok-people. Residences that develop in this area usually focus on the usage for those who want to relax on their weekend or holidays. Even if some buyers are living in the same area or those who work in the area, but there is not that much. So, the decision of buying condominium in tourist area for Bangkok-people or from other places than Cha-Am, Hua Hin and Pranburi usually don’t have to rush, but it is about the feeling, the mood and the willing to buy. And this is the elements that developer knows and understands, that’s why they are trying to develop condominium projects, especially projects that sales for the past 1 year, to be unique and beautiful, having beautiful facility area to create the good atmosphere and the feeling of the real relaxation. And various projects that sales for the past 1 -2 years are located at the location which is far from the sea. The projects have to be unique and different from other projects in Bangkok to create the attention to the selling. And some of the projects have success the selling process or faster closed their selling process.
The decision to buy vacation condominium by the sea, the main important thing is the liking and the usage of the area around, which lifestyle do you have, which color, the peace or do you want to just lay down and listening to the waves. Because in Cha-Am, Hua Hin and Pranburi, there are a lot of various choices and each of them have their own distinctive point. But the name of being a condo mostly have to get a lot of care to not drop the Value of it in the future and makes the price lower, no one want to rent. By choosing the management, who really understand the living in vacation condominium is a must, because you can put the room for rent or even sale for some benefit in the future too.
Therefore, if the owners worry about the decision to buy a condo at another province and will not have time to take care of it or do the cleaning, you may have to choose the project that have the professional management and can take a good care of the after-sale service, it will make the owner safer in mind. And if the room gets the good care by professional who understand the management, the room will be in the good condition as well. And therefore, can give some benefit to you if you sale it in the future. For those who are tired of buying condos in Bangkok, which used to have a price competition, and then can not sale. Try to change the investment and invest in the vacation condo in the area that said before, because this is the investment of residences that the value will be higher in the future. And in some projects, the owners can also stay in the room according to the quota of Time Sharing in each year if they want to.