Hua Hin Property Market Outlook 2020
Hua Hin is one of those places whose popularity and charm have largely exceeded Thailand’s borders in the last few years. That’s due to factors like its rich heritage, sweeping beaches, and its proximity to Bangkok.
As a result, the number of tourists that visit Hua Hin increases by five percent each year. That steady growth has caused land prices to grow by 10% per year. Those statistics have caused the attention of both local and foreign investors interested in investing in the Hua Hin property market.
2020 is expected to be a positive year for the property market in Hua Hin, as well. Here are the top factors that guarantee steady returns on all property investments.
Tour Operators Predict a Strong Season
Not only they predict that for the 2020 season, but there is a consensus among most of them that 2020 will be a record year in terms of the number of tourists. Their expectations for the following years are even more optimistic.
Their only concern is whether there will be enough accommodation facilities to match the demand.
Government Plans Further Infrastructure Investments
Thailand’s government has invested billions in infrastructure in the last few years. And if we look at their official plans, their infrastructure investment cycle is not over yet. Much of their investments are directed towards tourist’s hot spots like Hua Hin. They also think there is room for improvement, and that’s why they are determined to improve the infrastructure in Hua Hin.
There is a Strong Interest from Domestic Investors
Hua Hin is a popular travel destination and a popular spot for Bangkok residents. It’s just a two hours’ drive from the city of Bangkok to Hua Hin. Plus, there is a direct train line that connects the two cities.
The proximity with the capital, tourism growth, and natural beauty of the area seem to resonate strongly with local investors. It is an overall impression that many local property investors prefer to invest in Hua Hin than in their famous neighborhoods in Pattaya. They see Hua Hin as a better investment, one that will yield better results than in Pattaya that is also going strong.
The Community of Expats is Steadily Growing
The extravagant parties and all that follows them is not part of the offering in Hua Hin. That’s more common for Pattaya than for Hua Hin that is way quieter, more peaceful, and has that zen vibe.
Many expatriates love it because of that and decide to make a home for them in this area. Some are permanent, while others are on a come and go basis. Each year, the number of expatriates is growing. There is no reason to believe that the trend will slow down in 2020.
Hua Hin’s property market was doing quite well in the last few years and had a steady, but continuous growth. Everything points to growth in 2020, as well. The only question is if the Hua Hin property market the next big thing or it will be steady sailing. The simple truth is, time will tell.