Demand for Hua Hin/Cha-am property increased during the COVID-19 pandemic

Demand for Hua Hin/Cha-am property increased during the COVID-19 pandemicThis article on Hua Hin/Cha-am property appears in the Dot Property Group Report: How Has COVID-19 Impacted the Thailand Property Market? Click here to download your FREE copy.Key StatsOverseas demand for condo units fell during the COVID-19 pandemic…September 27, 2021

Demand for Hua Hin/Cha-am property increased during the COVID-19 pandemic

This article on Hua Hin/Cha-am property appears in the Dot Property Group Report: How Has COVID-19 Impacted the Thailand Property Market?

Key Stats

  • Overseas demand for condo units fell during the COVID-19 pandemic while domestic enquiries rose
  • Demand for Hua Hin/Cha-am villas and houses in the THB10-30 million price segment increased by 24.5% between April 2020 and March 2021
  • Condo units costing THB10-30 million saw a 33.5 percent increase in demand during COVID-19

Demand for Hua Hin/Cha-am property grew by 15 percent during the COVID-19 pandemic with both domestic and overseas property buyers exploring options in the popular resort destination. There were noticeable demand increases in both luxury condominiums and mid-size housing and villas.

The Hua Hin/Cha-am condominium market saw one of the more interesting shifts during April 2020 and March 2021. Demand for condominium units grew from domestic property seekers but weakened among overseas buyers.

Condo units accounted for 37.7 percent of all domestic Hua Hin/Cha-am residential enquiries between April 2020 and March 2021, a rise of 7.7 percent from the previous 12 months. However, overseas Hua Hin/Cha-am residential enquiries for condo units dropped by more than four percent over the same time period.

Staying with the Hua Hin/Cha-am condominium market, there were large spikes in demand for more expensive units. Demand for THB5-10 million condo units and units costing THB10-30 million between April 2020 and March 2021 increased by 32.2 and 33.5 percent, respectively, when compared to the 12 months prior.

Mid-size housing makes gains in Hua Hin/Cha-am

Two- and three-bedroom properties comprised a majority of demand for Hua Hin/Cha-am villas and houses between April 2019 and March 2021. The segment recorded a small uptick in demand during the COVID-19 pandemic.

Demand for villas and houses in the THB10-30 million price segment increased by 24.5 percent during April 2020 and March 2021 when compared to the previous 12 months. THB5-10 million house and villa demand rose by 15.6 percent over the same time span.

Hua Hin/Cha-am property demand hit 24-month high in March 2021

March 2021 saw the Hua Hin/Cha-am property market hit a 24-month high for demand with both domestic and overseas buyers active. Interestingly, the region’s best performing quarters (Q2 2020/Q1 2021) coincide with the first and third waves of COVID-19 appearing in Bangkok.