Khao Takiab: Thailand’s hottest condo spot
Khao Takiab in Hua Hin is soaring in popularity among condo buyers, emerging as one of Thailand’s most coveted locations, according to a recent report by Knight Frank. This vibrant seaside area has quickly become a top choice for local and international buyers.
Knight Knox’s latest insights reveal four prime spots for riverside and seaside condos in Thailand: Charoen Krung in Bangkok, Hua Hin, Pattaya, and Phuket. Among these, Khao Takiab stands out as a premier destination.
Natta Kahapana, Executive Director of Knight Frank Thailand, highlighted that despite challenges in balancing supply and demand, the riverside condo market continues to thrive.
“Discerning buyers increasingly recognise the value of these properties as residences and investments.”
Charoen Krung in Bangkok tops the list, followed by Wong Amat in Pattaya. Khao Takiab ranks third, with Bang Tao Laguna and Nai Thon in Phuket rounding out the top four.
In Hua Hin, seaside condo prices have steadily increased, with average prices ranging from 71,610 to 189,702 baht per square metre, making it a competitive option. In contrast, Phuket’s prices have skyrocketed to between 109,545 and 278,821 baht per square metre, driven by foreign buyer interest.
The average selling price of second-hand houses and condos in prime seaside locations in Phuket saw the highest growth rate at 11.2% last year, marking a 13.7% increase from the previous year. During the same period, riverside condos along the Chao Phraya River in Bangkok rose by 4.5%, and seaside condos in Pattaya by 3%.
The growth rate for these properties was 8.8% in 2023, primarily due to the limited availability of riverside and seaside land. By the end of the year, riverside condos in Bangkok accounted for 2.3% of the total, a slight increase from 2022.
Seaside condos in Pattaya showed the next highest growth rate, with a new supply constant of 1.1%. Hua Hin, popular for vacation homes and investments, has seen condo development since 2005.
Despite a higher number of unsold seaside condo projects in Hua Hin, only 10% of units remain unsold, indicating strong market demand. The robust market shows varying condo sales distribution, with Bangkok’s riverside condos leading in sold-out projects, reported Hua Hin Today.
