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Hua Hin property market stabilises

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The condominium market in Hua Hin is returning to a “balanced state” thanks to a slow down in the launch of local developments in the coastal town. This follows the opening of many developments in 2011 and 2012, causing demand to fall behind the supply.

Knight Frank Thailand’s director of research Risinee Sarikaputra says that in the middle of 2019, the supply of condominiums in Hua Hin totalled 26,886 units.

An average of 1,120 new condominium units were put on sale annually between 2016 and 2018, as operators began to delay the launch of new projects in the Hua Hin area because of the oversupply.

In 2011 and 2012, new condos were being launched at a rate of 6,000 units per year, resulting in reduced sales rates of 45% in 2011 and 56% the following year. That same period also saw operators engage in price wars by devising various promotions to boost sales. Many operators had to delay the launch of their projects and some projects were cancelled altogether.

Around 22,000 condominiums have been sold in the Hua Hin area out of a supply of 26,886 units, a sales rate of 83%. The lowest sales rate was in 2011. The sales rate increased to 71% in 2015 and 78% in 2017.

The area with the most supply remaining includes Cha-am, with about 3,376 units available for sale while the areas with the least amount of available supply are Hua Hin and Khao Takiab, with only 254 and 295 units remaining, respectively. The sales rates in Khao Takiab and Hua Hin are 92 and 89%, respectively.

Risinee said that the main buyers in Hua Hin are still Thai people looking for a holiday home for their weekend breaks, and they may rent the units out when they are not there. Foreign customers who buy condominiums in Hua Hin only account for 10% of all buyers; this buyer group consists of foreigners from Scandinavian countries, China, Hong Kong and Singapore.

Faz Waz CEO Brennan Campbell says they welcome stability returning to the Hua Hin property scene.

“The coast certainly blossomed over the past decade and the early enthusiasm from developers produced an over-supply. Now we’re seeing developers launching better projects and the market having more realistic expectations. It’s a much better market now for developers and buyers.”

In terms of the price of condominiums in Hua Hin, the average selling price of a condo with sea views is currently 131,494 baht per square metre. This increased 2% from the end of 2018.

The price of a sea view condo falls within the range of 107,000-176,000 baht per sqm. Lower-priced units are usually those that have only partial sea views or are not directly facing the sea.

The average selling price in Hua Hin tends to be higher than other areas. For units that do not have sea views, the prices range from 60,000-90,000 baht per sqm. In the first half of 2019, the average selling price of units without sea views was 73,685 baht per sqm, reflecting an increase of 2% from the end of 2018.

SOURCE: The Nation | Knight Frank Thailand

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Thailand

Strong surf hits Prachuap Khiri Khan beach

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Strong surf hits Prachuap Khiri Khan beach | The Thaiger
Strong surf in Prachuap Khiri Khan

High waves, peaking at 2 to 4 metres, hit Prachuap Khiri Khan’s coastal beaches, gushing over the breakwater and flooding some spots of the beachside road.

Beachfront shops and restaurants have been temporarily closed while all on-water activities are prohibited in the affected areas. Over 100 fishing boats and small boats have moored in the areas around the Khao Ta Mong Lai Mountains to shelter from the strong winds.

Swimming and other water activities are prohibited at Bang Saphan district’s Ban Krut Beach, one of the province’s most popular tourist destinations, due to the dangerous conditions.

The Prachuap Khiri Khan Governor recently warned coastal residents about the potentially dangerous strong winds.

The Thai Meteorological Department issued warnings yesterday that the strong northeast monsoon that prevailed in the Gulf of Thailand and the South might cause strong winds and high waves.

SOURCE: Matichon Online

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Hua Hin

Children injured on Hua Hin carnival ride, no safety certification submitted

Caitlin Ashworth

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Children injured on Hua Hin carnival ride, no safety certification submitted | The Thaiger
PHOTO: Nation Thailand

3 children were injured when a carnival ride malfunctioned at the Hua Hin Red Cross Festival in Prachuap Khiri Khan. The required safety certification was not submitted and local officials are investigating, according to Mayor Nopphon Wutthikul. Carnival rides now are closed for the duration of the festival.

“Preliminary inspection revealed that they had yet to submit safety certification signed by licensed engineers from related government agencies. We will further investigate this matter to find out if there was misconduct by any official.”

The children were on an octopus amusement ride when the hydraulics system failed. Children rode in colourful cars attached to arms that arch and connect to a central axis, resembling the shape of an octopus. The central axis spins and goes up and down.

10 children were on the ride around 10pm Friday when the hydraulics system broke, according to the festival organiser Pannee Klomtheri. A Facebook user made a post saying she saw the ride collapse. Pannee says the injuries are not serious.

“Three children were injured and were sent to Bangkok Hua Hin Hospital with some bruises. Doctors said all the kids are now fine. There was no death caused by the incident.”

Pannee says the octopus ride and other nearby rides will be closed while local officials inspect the site. The festival ends on December 6.

SOURCE: Nation Thailand

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Drugs

Burmese man busted with 20 kilograms of kratom

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Burmese man busted with 20 kilograms of kratom | The Thaiger

A Myanmar man has been busted with 20 kilograms of kratom after he illegally crossed a natural border into Thailand in the southern Muang district in Prachuap Khiri Khan. Border patrol police and administrative officials were patrolling Ban Hup Phueng, a village near the natural pass on the Myanmar border, when they noticed a man walking with a shoulder bag.

45 year old San Nyunt was then arrested after police found his shoulder bag containing the kratom leaves. Kratom, is a mild narcotic, which has been categorised as an illegal drug in Thailand. San was then charged with illegal entry and possession of illicit drugs.

Such arrests of illegal border crossing have been more prevalent in recent months as the province has stepped up surveillance of the border due to the Covid-10 pandemic.

Source: Bangkok Post

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