Young, wealthy Thais transform Hua Hin into a hub for second home investment

Due to the lack of any experiential travel during the pandemics, prominent media made appetite-whetting an art.

Bloomberg‘s latest speculative wish list, which was published last week, featured a carefully curated list of destinations that would capture the imagination of travelers who have been largely confined in their own countries for the past two years.

Some of the selections from its “Where to Go 2022” line-up definitely have a touch of exotic.

Notable picks include Jose Ignacio in Uruguay, a fishing village that is well-known for its booming gastronomic scene.

So far, so exciting. Some choices, however, were less obvious at first glance.

For those who are familiar with Thailand, Huahin is a quiet and uninteresting beach destination that attracts foreign weekenders and retirees from Bangkok.

Its inclusion on Bloomberg’s list as one of the top travel destinations in the world is a sign of a shift in focus that has occurred under the cover of the global healthcare crisis.

Hua Hin is experiencing an image revolution thanks to young Bangkokians buying luxury properties and new hotel brands such as The Standard.

Amar Lalvani (executive chairman of Standard International) says, “We are enchanted with Hua Hin’s history and the subtle Thai elegance visible throughout the town.” “We are thrilled to bring the Standard’s vibrancy and sensibility into Hua Hin, while also introducing Hua Hin for our clients who I believe will be drawn to its charms.”

Hua Hin is a popular resort known for its long sandy beaches. It has been home to the royal Thai family since the beginning of the 20th century. The resort town is located just three hours from Bangkok and boasts a good selection of hotels and championship golf courses. It also has a very serene atmosphere that compensates for the murky ocean waters and slightly older feel.

However, Hua Hin has seen a rapid turnaround during the pandemic. Due to the city’s constant lockdowns, the population of Bangkok has been buying up luxury condos and villas on the beach, thereby lowering its median age and increasing its appeal.

Insiders in Thailand have noticed a rise in interest from Thai expats and wealthy Thai buyers. The pandemic is responsible for the increase in interest, according to Thai real estate insiders. They also say that more people are becoming aware of the advantages of living in a comfortable lifestyle and personal space. These are key selling points for luxury property on Thailand’s idyllic beaches.

Bill Barnett, the founder and managing director at C9 Hotelworks, and chairperson of PropertyGuru Asia Property Awards Greater Niseko’s judging panel, said that “we are about to begin a new cycle.” “The pandemic caused a shift in the market for second-home and holiday homes. It’s been called urban angst, but Thais are now looking for lifestyle properties. Hua Hin has seen an increase in domestic transactions.

These are likely to be of benefit to resort-style homes. The enduring appeal Thailand offers is also important. It has a wonderful lifestyle, excellent medical facilities, and great links throughout the region.

 

Hua Hin is witnessing a rise in buyers who want to reset their lifestyle. Tjeer Kwant (chief executive of Banyan Residences), a luxury villa project just outside Hua Hin, said that there was a noticeable increase in buyers seeking to get out of the city and live a more active, healthier lifestyle.

He says, “This has been the main driver for families and couples seeking spacious second homes in Bangkok.”

Kwant stated that the transaction values at Banyan Hua Hin had, as of September 2021, exceeded THB125 millions.

Future interest in Hua Hin, and other beaches in Thailand, is not limited to western and Thai expat buyers. Chinese tourists will be conspicuously absent this year, as Beijing authorities continue to pursue a “zero Covid” strategy. However, restrictions on travel will not stop covetous buyers casting their net towards Thailand.

 

Hua Hin is still not overflowing with energy, despite the fact that the pandemic in Thailand continues to linger. The seductive beats emanating from The Standard’s chic beach bar DJ booth prove that Hua Hin is still dancing to a subtly new beat.

Jutamas “Som”, a renowned chef, is working at Som’s Table in the town’s south. Teens of Thailand, Bangkok’s most renowned cocktail bar, will soon open an outlet in Hua Hin.

Although the pandemic is a serious threat to many beaches in Thailand, Hua Hin seems to have found an antidote. It identifies itself as “Bangkok-on-Sea”.

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